North America is expected to own 14.5% market share in 2022. Europe is expected to hold 19.6% market share for fiber cement market in 2022. Thus, Asia Pacific is expected to get 12% share market for the fiber cement market in 2022.
/EIN News/ — NEWARK, Del, Sept. 20, 2022 (GLOBE NEWSWIRE) — The global fiber cement market is expected to reach a value of US$26,970.3 million in 2032, with the market growing at an average CAGR by 4.7% during the forecast period from 2022 to 2032. In 2022, the fiber cement market is expected to reach approximately US$17,038 million; driven to grow by the growing need to control carbon emissions from the construction and building sector.
Due to its distinctive physical characteristics such as durability and high strength, fiber cement is one of the most popular and essential composite materials. It is used in the manufacture of facades and roofs. An essential part of the building and construction materials industry, fiber cement is widely used in interior and exterior applications such as siding, siding and roofing, moldings and trim.
The material contains all the physical and chemical qualities necessary to withstand the negative impact of time, temperature and humidity. In addition to this, fiber cement has superior performance and other advantages over traditional cement, such as low maintenance, resistance to warping, sagging, and fire retardant capabilities. All these factors favor a positive growth environment for the fiber cement market over the projected period.
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Due to these unique and beneficial properties, many in the construction and building industry are increasingly inclined to use fiber cement over traditional building and building materials such as wood and vinyl. This will further stimulate the target market and generate greater sales opportunities for players in the international fiber cement market.
“The growing need to limit the carbon footprint, coupled with increased demand from the construction industry, is expected to support the growth of the construction market. fiber the cement industry over the forecast period,” says an IMF analyst.
Key points to remember:
- Rising popularity and easy availability of cost-effective asbestos products may hamper the market growth.
- In 2022, North America is expected to represent 14.5% of the global market share.
- Europe will likely acquire 19.6% of the total market share by the end of 2022.
- Driven by the expansion of the construction sector, Asia-Pacific accounts for 12% of the market share.
- By application, the coating sector is expected to see strong demand.
- In terms of raw materials, Portland cement is expected to dominate 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 and US Silica Holdings Incorporated., among others, some of the major Fiber Cement market players which are profiled in the full version of the report.
Major players in the market are focusing on expanding their business by rolling out strategic mergers and acquisitions. These companies engage in agreements, collaborations and partnerships to expand their product portfolios.
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More information on Fiber Cement market report
In its latest report, FMI offers an unbiased analysis of the Global Fiber Cement Market, providing historic data from 2016 to 2021 and forecast statistics from 2022 to 2032. To understand the potential, growth, and scope of the global market, the market is segmented on the basis of Raw Material (Silica, Portland Cement, Cellulose Fiber, Others), End User (Residential, Non-Residential), Application (Siding, Siding, Backerboards, Moldings & Trims, Roofing, Wall Partitions, Others) and region.
According to the latest IMF reports, based on the region, the fiber cement market in North America is expected to flourish during the forecast period. In 2022, the region is expected to represent 14.5% of the overall market share. Growing residential construction projects such as new construction homes, single family homes, and others are propelling the growth of the market in this region.
The fiber cement market in Europe is expected to acquire 19.6% market share in 2022 and is expected to continue growing during the forecast period. The construction industry in major European countries, especially Germany, is responsible for the regional growth of the fiber cement industry. Apart from North America and Europe, Asia-Pacific is also expected to witness tremendous growth over the forecast period, holding around 12% market share. The expansion of the construction and building sector in countries like India and China is responsible for this growth.
On the basis of segmentation, high demand for coatings segment will lead to segment market dominance in terms of application whereas, on the basis of raw material, Portland cement is likely to dominate the market during of the forecast period.
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Key segments profiled in the Fiber Cement Industry Survey
Fiber Cement Market by Commodities:
- Portland cement
- Cellulose fiber
Fiber Cement Market by End User:
Fiber Cement Market by Application:
- Support panels
- Molding and trimming
- Wall partitions
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply-side trends
1.4. Analysis of the technology roadmap
1.5. Analysis and recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limits
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Explore related ongoing IMF coverage at Chemicals and Materials Domain
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