Global Fiber Cement Market Forecast Report to 2028 - Development in 3D Printing in Construction and Increasing Focus on Disaster-Resilient Infrastructure Fuels Fiber Cement Market Growth

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Dec 21, 2023, 12:15 ET

DUBLIN, Dec. 21, 2023 /PRNewswire/ -- The "Global Fiber Cement Market: Analysis By Raw Material, By Curing Process, By Application, By Sector Usage By Region Size, Trends and Forecast up to 2028" report has been added to ResearchAndMarkets.com's offering.

The global fiber cement market in 2022 stood at US$16.70 billion and is likely to reach US$23.53 billion by 2028.

Fiber cement, emerging from the demand for durable, versatile building materials, has become a cornerstone in modern construction. Its rise in popularity is linked to the growing need for weather-resistant, low-maintenance alternatives to traditional materials. Composed of cement reinforced with cellulose fibers, it offers a unique combination of strength, longevity, and aesthetic versatility, appealing to both residential and commercial construction.

As sustainability and energy efficiency gain priority in building practices, fiber cement's adaptability and environmental friendliness position it as a key player. Its ongoing development and refinement remain crucial to addressing the evolving challenges and opportunities in the construction industry. The global fiber cement market is projected to grow at a CAGR of 5.88% during the forecast period of 2023-2028.

Market Segmentation Analysis:

By Raw Material: In 2022, the Portland Fiber Cement Market, the largest in its sector, specializes in blending Portland cement with cellulose fibers, resulting in products ideal for roofing, cladding, and facades. This market's dominance is attributed to the material's superior durability, fire resistance, and adaptability to various architectural styles, making it a top choice for exterior construction in both residential and commercial areas. Its widespread availability, cost-effectiveness, and compliance with strict building regulations reinforce its leading position.

By Curing Process: In 2022, the steam pressure cured fiber cement market, renowned for its high-pressure steam curing process, leads the market due to its enhanced strength, density, and durability. These properties make it ideal for demanding construction environments and heavy-duty applications like infrastructure and commercial buildings. Looking forward to the forecast period of 2023-2028, the ambient cured fiber cement market is anticipated to be the fastest-growing segment, driven by its increasing use in residential construction and renovations. Its ease of installation, design versatility, and energy-efficient production make it highly suitable for DIY projects and expanding residential sectors in emerging economies, aligning with the growing demand for sustainable and accessible building materials.

By Application: In 2022, the Exterior Cladding Fiber Cement Market emerged as the predominant segment in building materials, driven by its extensive use in both residential and commercial constructions. This market thrives on the demand for durable, low-maintenance, and aesthetically versatile cladding solutions. Fiber cement's resilience to elements like weather, fire, and pests, coupled with its ability to imitate materials such as wood or stone, has bolstered its popularity. Additionally, its cost-effectiveness and eco-friendly nature have reinforced its standing as the preferred cladding choice.

By Sector Usage: In 2022, the residential sector fiber cement market emerged as the largest segment, outpacing non-residential sectors, largely due to its widespread application in home construction and renovations. This growth is fueled by the increasing preference for durable, low-maintenance, and versatile materials in residential building. The popularity of fiber cement in this sector is attributed to its resistance to weather, fire, pests, and its ability to mimic traditional materials like wood. Moreover, the growing trend towards sustainable home construction has further elevated its appeal. Fiber cement's suitability for various applications such as siding, roofing, and interiors, combined with its environmental compatibility, has made it a favorite among homeowners.

By Region: According to this report, the global fiber cement market can be divided into five major regions: Asia Pacific (China, India, Japan, South Korea, and Rest of Asia Pacific), Europe (Germany, France, Italy, UK, and Rest of Europe), North America (The US, Canada, and Mexico), Middle East & Africa, and Latin America. In 2022, the Asia Pacific region led the Fiber Cement Market, propelled by rapid urbanization, particularly in China and India, and the increasing demand for durable, cost-effective construction materials. This region's shift towards sustainable building practices and the need for disaster-resilient structures further boosted its market dominance. Looking ahead, North America is projected to grow significantly from 2023 to 2028, propelled by trends in sustainable construction, technological advancements in fiber cement production, and a growing emphasis on energy-efficient and disaster-resilient buildings.

During 2023-2028, the US is forecasted to maintain its lead within North America. This trajectory is largely attributed to the country's expansive construction sector, significant infrastructure investments, and a strong emphasis on sustainable building practices. The US market benefits from fiber cement's diverse applications across residential, commercial, and industrial sectors. Its advanced construction technologies and growing preference for fiber cement in various uses like cladding, roofing, and siding are key factors supporting this growth.

Global Fiber Cement Market Dynamics:

Growth Drivers

Rise in Construction Activities
Urbanization and Lifestyle Changes
Increasing Demand for Energy-Efficient Buildings
Increasing Stringency of Building Regulations
Advancements in Fiber Cement Technology
Growing Preference for Fiber Cement
Shift Toward Low-Maintenance Building Materials
Expansion of Distribution Channels
Growing Popularity of Prefabricated and Modular Construction

Challenges

High Cost Associated with Installation
Competition from Alternative Materials

Market Trends

Integration of Smart Building Technologies
Development in 3D Printing in Construction
Increasing Focus on Disaster-Resilient Infrastructure
Enhanced Focus on Indoor Air Quality
Growing Utilization of Eco-Friendly Construction Materials
Shift towards Circular Economy in Construction
Government Initiatives in Affordable Housing
Adoption of Fiber Cement in Niche Applications
Advancements in Surface Treatments and Finishes

Competitive Landscape and Recent Developments:

The global fiber cement market is a dynamic and competitive landscape, marked by a blend of established giants and emerging innovators. This partially fragmented market features no dominant player, creating a fertile ground for competition and innovation.

Leading companies like James Hardie and Etex Group are enhancing their product lines with cutting-edge fiber cement technologies, while NICHIHA and SCG are making notable strides in sustainable and efficient building solutions. The market is responsive to global trends like urbanization and industrialization, with key players like Swisspearl, after its acquisition of Cembrit, focusing on eco-friendly products and expanding production to meet the demands of new developments.

This vibrant market is thus characterized by continuous innovation and strategic corporate maneuvers, driven by the global push for sustainable construction and the growing needs of an evolving construction landscape.

Key player profiles include:

James Hardie
Compagnie de Saint-Gobain
Siam Cement Public
Etex Group
Elementia,
Century Plyboards
Knauf
Standard
Swisspearl Group
American Fiber Cement
CSR
Nichiha

The global fiber cement market is characterized by a diverse product portfolio, catering to a wide spectrum of applications. With major players like James Hardie and Etex Group offer a comprehensive range of fiber cement products, meticulously engineered for specific uses. These products encompass siding solutions that provide weather resistance and aesthetic appeal, roofing options that ensure long-lasting protection against the elements, and interior finishes that enhance the visual character of indoor spaces.

Tailored to meet diverse operational requirements, fiber cement products prioritize durability, aesthetic versatility, and environmental sustainability, making them a preferred choice for various construction projects.

For more information about this report visit https://www.researchandmarkets.com/r/grwuwr

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