Global Fiber Cement Board Market

Global Fiber Cement Board Market Research, 2031

The global fiber cement board market size was valued at $9.7 billion in 2021, and is projected to reach $15.3 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031.

The fiber cement boards market has been negatively impacted due to wake of the COVID-19 pandemic, owing to its dependence on construction sector. However, emerging geographic scenarios, enhanced domestic supply chain, and strong public investments are projected to drive the growth of fiber cement boards market. For instance, according to an interim report for the 2021 Australian infrastructure plan, the Australian Construction Industry Forum (ACIF) expects the construction industry to return to pre-COVID-19 levels by 2022-23, driven by strong public investments. This is projected to boost the growth of the fiber cement boards market post-COVID-19 period.

Fiber cement board is environment friendly construction material made up of Portland cement, sand, and cellulose fiber. The fiber cement board market growth is driven by rise in use of fiber cement board in flooring, wall cladding, and pre-fabricated shelter. Fiber cement boards find use across pre-fabricated shelters and homes such as walls, floors, roofs, shelves, and windows & door frames is the key market trend. Fiber cement boards can be easily transported and require minimal labor use; thus, minimizing construction cost, which drives the demand of the global market.

Fiber cement boards are environment friendly and do not contain toxic elements as compared with mortar and bricks used in re-fabricated shelter construction. Mainly, gypsum boards were used in pre-fabricated shelters. However, gypsum boards tend to shrink and swell owing to change in climatic and weather conditions. Fiber cement boards are moisture resistance and weather resistance making them best choice over gypsum board in pre-fabricated shelter construction drives the overall demand of the global market. Use of fiber cement boards for exterior wall cladding application owing to its structural strength and moisture resistance is the key market trend. In addition, fiber cement board can also be used for boundary wall cladding application across residential and non-residential construction projects drives the demand of the global market.

Fiber cement board cladding adds aesthetic look to the building and also help to protect exterior building skin structure and interior products against wind and other climatic conditions. In addition, insulation capability of fiber cement board makes it viable to be used for wall cladding application that in turn minimizes structural deterioration and improves energy efficiency. All these factors have escalated the demand for fiber cement board in wall cladding application thereby augmenting the demand of the global market. Key-players in fiber cement boards offer diverse portfolio of products for wall cladding application thereby allowing consumers to choose appropriate design for wall cladding. For instance, handcrafted brick design fiber cement boards, designer fiber cement boards, natural wood color fiber cement boards, and others are few types of products available in the market for wall cladding application.

However, availability of substitute products such as vinyl sidings, wood sidings, and wood based composites is anticipated to hamper the market growth. In addition, fiber cement board siding have disadvantages such as periodic maintenance that in turn increases cost and fiber cement board siding tend to absorb moisture thereby increasing the risk of damage and rotting. All these factors are anticipated to hamper the market growth. 

Fiber cement boards are widely used in construction industry during high-speed work and drywall construction application, which is the key market trend. Drywall construction is gaining importance as it minimizes construction time and curing time associated with use of brick & mortar. In addition, drywall construction are used mainly across non-load bearing wall structures. Fiber cement boards are viable choice over gypsum for construction of drywalls drives the demand of the global market.

Fiber cement is proven to offer thermal insulation and water resistance making it best choice for production of boards used in underlay application across fabricated roofing sector. In addition, fiber cement boards are compatible to be used with roof tiles and roofing shingles, thus making it viable choice to be used for roof tile underlay application. All these factors collectively drive the demand of the global market. In addition, fiber cement boards are crucial product across duct covering application. Use of fiber cement boards for duct covering application increases aesthetic look to the external facade of a building. These factors are anticipated to offer remunerative opportunities for the fiber cement board market during the forecast period.

The fiber cement board market is segmented on the basis of product type, application, and region. On the basis of product type, the market is categorized into high density fiber cement board, medium density fiber cement board, and low-density fiber cement board. On the basis of application, it is divided into furniture, flooring, wall cladding & panel, pre-fabricated shelters, and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.

The global fiber cement board market profiles leading players that include Beijing Hocreboard Building Materials Co. Ltd., HIL Limited, Century Plyboards (India) Limited, Everest Industries Limited, Saint Gobain, Sahyadri Industries Limited (SIL), Toray Industries Inc., Visaka Industries, REXLER, and Sarex. The global fiber cement board industry report provides in-depth competitive analysis as well as profiles of these major players

The Asia-Pacific reflective tape market size is projected to grow at the highest CAGR of 5.3% during the forecast period and accounted for 25% of fiber cement board market share. Rise in building & construction, commercial complexes, and other sectors, has enhanced the performance of the fiber cement boards in the Asia-Pacific region. Furthermore, the tourism sector in Thailand is witnessing a significant growth, which in turn has increased the renovation activities, wherein fiber cement board is widely used for flooring, cladding, and furniture applications. The use of fiber cement boards in sectors such as consumer, building and construction, pre-fabricated shelters, residential activities, hotels, offices, industrial, and others, is the major key market trend in the Asia-Pacific region. Furthermore, rapid development of building and construction infrastructure sector in countries such as China, India, Indonesia, Malaysia, and others, is further expected to aid the growth of the fiber cement board market in the Asia-Pacific region.

 In 2021, the medium density fiber cement board was the largest revenue generator, and is anticipated to grow at a CAGR of 4.4% during the forecast period. Medium density fiber cement boards have high strength, water & fire resistance, high sound absorption properties making them widely used across suspended ceiling application, wall partition, billboards, and desktop boards. Medium density fiber cement boards are used widely for exterior wall applications such as decoration panels and integrated façade panels is the key market trend. In addition, low medium density fiber cement boards are best choice for loft interlay application, outdoor furniture, and wall thermal insulation, which drives their demand for the global market.

 In 2021, the wall cladding and panels application was the largest revenue generator, and is anticipated to grow at a CAGR of 4.8% during the forecast period. Fiber cement boards that are intended to be used for wall cladding are manufactured in plank form and have a standard thickness of 8mm. Fiber cement boards can be used along with other wall cladding products such as steel, cement and wooden substrates. Fiber cement boards can be used for wall cladding application across different areas such as exterior walls, gates, lobby, and facades. Use of fiber cement boards for exterior wall cladding application owing to their structural strength and moisture resistance is the key market trend. In addition, they can also be used for boundary wall cladding application across residential and non-residential construction projects drives the demand of the global market. Fiber cement board cladding adds aesthetic look to the building and also helps to protect exterior building skin structure and interior products against wind and other climatic conditions.

Key Benefits For Stakeholders

• This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the global fiber cement board market analysis from 2021 to 2031 to identify the prevailing global fiber cement board market opportunities.
• The market research is offered along with information related to key drivers, restraints, and opportunities.
• Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
• In-depth analysis of the global fiber cement board market segmentation assists to determine the prevailing market opportunities.
• Major countries in each region are mapped according to their revenue contribution to the global market.
• Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
• The report includes the analysis of the regional as well as global global fiber cement board market trends, key players, market segments, application areas, and market growth strategies.

 Global Fiber Cement Board Market Report Highlights