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Sunday, May 26, 2024

Sustainable Construction Rises: Fiber Cement Market Traces Growth to Reach US$ 28.68 Billion by 2033 | Future Market Insights, Inc.

Last updated Tuesday, September 5, 2023 15:35 ET , Source: Future Market Insights, Inc.

Newark, United States, 09/05/2023 / Future Market Insights, Inc. /

The fiber cement market is anticipated to thrive at a slow-paced CAGR of 4.7% between 2023 and 2033. The market is expected to have a market share of US$ 28.68 billion by 2033, while it will likely be valued at US$ 18.12 billion in 2023.

  • The advent of new alternative materials for construction and industrial applications is expected to give birth to several markets like fiber cement and bricks. Furthermore, the sustainability, low cost, and maintenance associated with fiber cement are also flourishing the market growth.
  • One of the prominent growth factors for fiber cement is its fire and heat-resistant nature, which is also mainly weather-resistant. These properties make fiber cement revolutionize the construction material industry.
  • The affordable pricing adds value to its sales as it is economically beneficial due to the long shelf life, limited maintenance, and low price. The sustainable materials used in its formation are also expected to attract aware end users.
  • The key reason end-users prefer these sustainable construction materials is the small installation time. Further, using the right tools can be reduced comparatively by 50% of the time.
  • These fiber cement come in the form of cement board and slide with high longevity. Also, the flexibility gives the constructor the option of designing it easily.

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“New sustainable projects apply nature-friendly yet durable construction materials in their buildings. Hence, high sales of fiber cement are anticipated during the forecast period. Also, the long life span and versatility in design give it an edge over the usual cement.”—opines a senior analyst at FMI.

Key Points from the Fiber Cement Market Report:

  • The United States market leads North America’s fiber cement market in terms of market share in North America. The United States held a market share of 11.4% in 2022. The factors attributed to the growth are rising residential and industrial construction and the government providing subsidies to eco-friendly construction material businesses.
  • Germany’s fiber cement market held a healthy market share of 8.9% in 2022. The market growth is caused by the German government’s extended research and development programs, focusing on using materials like carbon fiber, fiber-reinforced concrete, etc.
  • India’s market thrives at an average CAGR of 5.5% between 2023 and 2033. Further, the growth is attributed to the penetration of innovation in the construction and electrical sectors.
  • China thrives at a CAGR of 5.1% between 2023 and 2033.
  • Based on raw material type, the Portland segment held the leading market share of 37.9% in 2022.
  • Based on application type, the sliding segment leads as it held a market share of 24.3% in 2022.

Competitive Landscape

The key suppliers focus on sustainability, reusable materials, and fast installation. The competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.

Key Players in the Market:

  • Dow Chemical Company
  • Hardie (James) Industries Plc.
  • Imerys SA
  • Elementia SA de CV
  • Building Materials Corporation of America
  • PPG Industries Incorporated
  • Akzo Nobel NV
  • Canfor Corporation
  • Ecolab Incorporated
  • Central Fiber LLC
  • Mercer International Incorporated
  • US Silica Holdings Incorporated

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Recent Market Developments

  • PPG Industries Incorporated has launched its protection over wood, fiber cement, and composite substrates, delivering to verticals like automotive, commercial, and residential.
  • Ecolab Incorporated has introduced fiber building materials such as fiberglass filament, mat, and insulation. These products also include flat glass, ceiling tiles, and fiber cement.

Fiber Cement Market Segmentation:

By Raw Materials:

  • Silica
  • Portland Cement
  • Cellulosic Fiber
  • Others

By End User:

  • Residential
  • Non-Residential

By Application:

  • Cladding
  • Siding
  • Backer Boards
  • Molding and Trimming
  • Roofing
  • Wall Partitions
  • Others

By Regions:

  • North America
  • Latin America
  • Europe
  • Japan
  • Asia Pacific Excluding Japan
  • Middle East and Africa

Author By:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Have a Look at the Related Reports of the Chemicals & Materials Domain:

Fiber Cement Board Market Growth– The fiber cement board market is anticipated to record a CAGR of 4.3% during the forecast period. It is expected the market value could go up from US$ 10 Billion in 2021 to reach a valuation of US$ 27 Billion by 2032.

Anti-Static Fibres Market Trend– The global anti-static fibers market is expected to grow at an impressive rate until 2032. Anti-static fibers are used in a variety of industrial, chemical, metallurgical, mineral, and agricultural applications where the process and dust tend to build static and where there is a potential ignition source.

Glass Fiber Reinforced Plastic (GFRP) Composites Market Size– The glass fiber reinforced plastic (GFRP) composites market is predicted to capture a valuation of US$ 18.54 billion in 2023, and is rising to US$ 41.53 billion by 2033. The market is estimated at a CAGR of 8.4% during the forecast period.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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