The fiber cement market is projected to grow at a steady CAGR of 4.7% from 2023 to 2033, reaching a market share of USD 28.68 billion by the end of this period. This growth is driven by increasing demand for durable and low-maintenance construction materials, particularly in residential and commercial building projects. Fiber cement’s resistance to weather, fire, and pests makes it an attractive choice for siding, roofing, and other applications.
Additionally, the market is benefiting from advancements in manufacturing technologies and the rising trend towards eco-friendly and sustainable construction practices. Despite the relatively slow growth rate, the consistent demand across various regions ensures a stable market trajectory for fiber cement products.
One of the prominent growth factors for fiber cement is its fire and heat-resistant nature which is mainly weather resistant as well. These properties make fiber cement revolutionize the construction material industry.
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Key Points
- 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 sector.
- 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 material, and fast installation. The competitors merge, acquire, and partner with other companies to increase their supply chain and distribution channel.
Recent Market Developments
- PPG Industries Incorporated has launched its protection over wood along with fiber cement and composite substrates, delivering to verticals like automotive, commercial, and residential.
- Ecolab Incorporated has introduced the fiber building materials such as fiberglass filament, mat, and insulation. These products also include flat glass, ceiling tiles, and fiber cement.
Key Players Profiled 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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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
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