Fiber Cement Market Overview:
Global Fiber Cement Market generated revenue of $12,336 million in 2014, and is expected to garner $18,888 million by 2022, registering a CAGR of 5.8% from 2016 to 2022.
The global fiber cement market is driven by factors such as rapid urbanization and industrialization in developing countries, booming construction industry, high efficiency of fiber cement products, and ban on asbestos cement products. In addition, increased investment in infrastructure sector offers opportunities to the market players. However, lack of skilled labor in developing countries hamper the growth of the global fiber cement industry.
The use of asbestos cement is associated with severe health hazards such as ovarian cancer, lung cancer, and other diseases. Therefore, the ban on asbestos cement products by government agencies have fueled the demand for fiber cement products such as planks, sheets, panels, boards, and others. The fiber cement siding segment generated the highest revenue in 2014, and is expected to remain dominant throughout the analysis period. This is attributed to the remarkable properties of fiber cement siding such as non-combustible and eco-friendly.
The global fiber cement market is segmented on the basis of raw material, application, end use, and geography. Based on the raw materials used for manufacturing, the market is segmented into Portland cement, silica, cellulosic fiber, and others. The application areas of the fiber cement market are broadly classified into molding & trimming, siding, roofing, and others (backerboards, countertops, and ceiling). The molding & trimming segment is expected to outpace the other application segments, owing to the increased installation of trim boards in housing projects. The end user of the market is categorized into residential and non-residential sectors. The non-residential sector accounted for the highest market share, owing to increased installation of fiber cement products in commercial, infrastructure, and other projects. The global fiber cement market is segmented into four regions, namely North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific is the leading region in terms of demand for fiber cement, and is expected to maintain its dominance during the forecast period. The high adoption of fiber cement products in the region would continue to bolster the fiber cement market size.
The key players profiled in the report include Etex Group NV, James Hardie Industries PLC, Evonik Industries AG, Compagnie De Saint Gobain SA, Toray Industries Inc., CSR Limited, The Siam Cement Public Company Limited, Nichiha Corporation, Plycem Corporation, and Cembrit Holding A/S.
The other companies operating in the fiber cement industry include Elementia, S.A.B de C.V., Marley Eternit Ltd., Thai Olympic Fibre-cement Co., Ltd., Mahaphant Fibre Cement Co., Ltd., Everest Industries Ltd., Swisspearl, Equitone, Allura USA, Beijing Hocreboard Building Materials Co., Ltd., and Fry Reglet.
North America has witnessed significant growth in terms of demand for fiber cement products. The homeowners in the U.S. have focused on renovation activities such as bathroom, countertops, ceiling, and interior remodeling to fuel the demand for fiber cement backerboards and other products. Therefore, the region is expected be the fastest growing region in the global market by 2022.
Top Impacting Factors
The global fiber cement market is driven by the boom in the construction sector. The adoption of fiber cement has increased in prime end use industries, namely residential, commercial, infrastructure, hospitality, and others. In addition, the rapid growth of the residential sector is expected to boosts the market growth. However, lack of skilled workforce for manufacturing fiber cement products is one of the major factors hampering the fiber cement market growth. However, companies offer trainings to workers through formal vocational education programs to ensure optimal use of equipment. Moreover, developing countries, including India, China, South Africa, Thailand, and others, are expected to offer lucrative growth opportunities to the global fiber cement market players, owing to boom in the construction sector and proactive government initiatives to increase infrastructure investments.
Key Benefits for Stakeholders
- The report includes an in-depth analysis of the global fiber cement market along with the current trends, drivers, restraints, and growth opportunities.
- Porter’s five forces model of the market illustrates the potency of buyers and sellers to formulate effective growth strategies.
- Key market players have been profiled in the report to understand the strategies adopted by them.
- The current trends have been quantitatively analyzed and estimated for the period of 2016‐2022 to highlight the financial competency of the market.
Fiber Cement Market Key Segmentation
By Raw Material
- Portland Cement
- Cellulosic Fiber
- Molding & Trimming
By End Use
- Residential Sector
- Non-residential Sector
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
- Etex Group NV
- James Hardie Industries PLC
- Evonik Industries AG
- Compagnie De Saint Gobain SA
- Toray Industries Inc.
- CSR Limited
- The Siam Cement Public Company Limited
- Nichiha Corporation
- Plycem Corporation
- Cembrit Holding A/S
Other Players Mentioned in the Report
- Elementia, S.A.B de C.V.
- Marley Eternit Ltd.
- Thai Olympic Fibre-cement Co., Ltd.
- Mahaphant Fibre Cement Co., Ltd.
- Everest Industries Ltd.
- Allura USA
- Beijing Hocreboard Building Materials Co., Ltd
- Fry Reglet