How Has the Fiber Cement Market Evolved Historically and What is its Current Size
The fiber cement market has seen considerable growth due to a variety of factors.
• In the past few years, there has been significant growth in the fiber cement market size. It is projected to increase from $17.18 billion in 2024 to reach $18.29 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%.
Various factors have contributed to the growth during the historic period, including industrialization, market expansion in developed areas, regulatory assistance, and standards, a boom in construction, and architectural advancements.
What Can Be Expected from the Fiber Cement Market in the Coming Years?
The fiber cement market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for robust expansion in the fiber cement market in the coming years, with projections suggesting a surge to $23.3 billion in 2029, upholding a compound annual growth rate (CAGR) of 6.2%.
Factors contributing to this growth in the prediction period include cost-effectiveness and long lifespan of the product, enhanced customer cognizance and preferences, resistance to environmental factors and durability, both residential and commercial constructions, and existing government regulations and policies. Major trends expected to influence this sector during the projected period encompass urbanization and infrastructure progress, escalating construction activities, a shift towards sustainable construction materials, resistance to weathering and durability, and evolving architectural trends and aesthetics.
Which Key Drivers Are Propelling Th Fiber Cement Market's Growth?
The fiber cement market is anticipated to surge with the rising construction expenses. As the construction industry expands, the implementation of efficient and sustainable fiber cement adhesives has also grown. These are used for the exterior of both residential and commercial spaces because of their durability and the value they add to the residential properties. Indeed, the United States Census Bureau, a governmental agency in the US, reported in October 2024 that construction spending rose to $2,147.4 billion in August 2024, representing a 4.1% rise from the August 2023 estimate of $2,047.4 billion. Moreover, the total construction budget for the first eight months of 2024 reached $1,428.5 billion, a 7.6% increment compared to $1,327.0 billion in the same timeframe in 2023. Consequently, the growth of the fiber cement market is being fueled by the increasing investment in construction.
How Is the Fiber Cement Market segmented?
The fiber cement market covered in this report is segmented –
1) By Raw Material: Cellulosic Fiber, Portland Cement, Silica
2) By Application: Siding, Roofing, Cladding, Molding And Trimming, Other Applications
3) By End User: Residential, Non-Residential
Subsegments:
1) By Cellulosic Fiber: Wood Pulp, Recycled Paper, Other Natural Fibers
2) By Portland Cement: Ordinary Portland Cement (OPC), Blended Cement, Special Purpose Cement
3) By Silica: Amorphous Silica, Crystalline Silica, Fumed Silica
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What New Trends Are Influencing the Fiber Cement Market?
Leading businesses in the fiber cement market are concentrating on creating innovative technologies such as reinforced fiber technology, with the aim to transform the Indian cement market. This technology involves the integration of fibrous materials into cement or concrete, thus boosting qualities like strength, durability, and crack resistance while cutting down permeability and upgrading overall performance. For example, in August 2023, Nuvoco Vistas Corp. Ltd., a cement company based in India, obtained a patent for its groundbreaking 'Fibre Reinforced Cement Composition,' known as 'Duraguard Microfiber Cement.' This product increases bonding, crack resistance, and durability and is appropriate for every stage of construction. The key goal of Duraguard Microfiber Cement is to prolong the life of structures and decrease maintenance expenses. Jayakumar Krishnaswamy, the Managing Director, emphasized the firm's dedication to innovation and customer service in the cement sector.
Who Are the Key Players in the Fiber Cement Market?
Major companies operating in the fiber cement market include:
• SCG Building Materials
• Everest Industries Limited
• James Hardie Industries PLC
• Shandong Shanshui Cement Group Ltd.
• CSR Limited
• Plycem USA Inc.
• GAF Materials Corporation
• Perlite Construction Co. Ltd.
• Elementia Materiales
• Nichiha Corporation
• Cembrit Holding A/S
• Swisspearl Group AG
• Visaka Industries Limited
• Hume Cemboard Industries Sdn Bhd
• Hekim Yapi A.S.
• Bison Manufacturing Limited
• Taisyou International Business Co. Ltd.
• Allura
• Etex Group
• Mahaphan Fibre Cement Public Co. Ltd.
• Shera Public Company Limited
• Alpha Roofing industries LLC
• Aerocon Corporation
• Soben International (Europe) Ltd.
• EQUITONE
• American Fiber Cement Corporation
• Hocreboard Building Materials Co. Ltd.
What Is The Most Dominant Region In The Fiber Cement Market?
Asia-Pacific was the largest region in the fiber cement market in 2024. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber cement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
