Fiber cement is a composite material made of sand, cement and cellulose fibers. It is a building material used in both commercial and domestic applications. In this report, the fiber cement product refers to the fiber cement boards.
Seattle, WA -- (SBWIRE) -- 11/15/2019 -- 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 residential sector is projected to be the fastest-growing segment by 2027. Favorable and lenient lending policies initiated by governments across all regions are one of the major factors driving this sector. Durability and aesthetics of fiber cement for applications such as siding and roofing have made them a popular choice in the residential construction market.
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Fiber cement siding is the largest application area. This is because fiber cement siding does not require maintenance and is impervious to degradation. Also, growing construction projects, both residential and commercial, have driven the market in this segment. Other application areas of fiber cement are roofing, molding & trim, countertops, and backer boards.
On the basis of key regions, the market for fiber cement is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The United States region is the most attractive market for fiber cement. Rising economy and rapid growth in the infrastructure sector in this region have significantly impacted the growth of fiber cement. This region is projected to see the highest number of new constructions and infrastructural activities in the near future.
United States has the largest fiber cement production in 2015 with 28.57% production market share; Followed by China and EU, which occupied 27% and 19% production market share. EU consumed 31% of the global total fiber cement board output in 2015; Followed by United States and China in 28% and 15.6%
Fiber cement board can be classified to low density, medium densiy and high density by their density range. Medium density fiber cement occupied 45% global market share in 2015; Low density board and high density board occupied 16.7% and 37.5% market share
Market Segment by Manufacturers, this report covers James Hardie, Etex Group, Cembrit, Mahaphant, Elementia, Everest Industries, Saint-Gobain, Hume Cemboard Industries, Taisyou, Soben board, Wellpool, SCG Building Materials, Kmew, PENNY PANEL, Nichiha, Lato JSC, FRAMECAD, LTM LLC, TEPE Betopan, HEKIM YAPI, Atermit, GAF, China Conch Venture holdings, HeaderBoard Building Materials, Sanle Group, Guangdong Soben Green
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.
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