The market for fiber cement will grow from USD 13.75 Billion in 2016 to USD 17.38 Billion by 2021, at a CAGR of 4.80%. The market for fiber cement is growing due to growth in the construction industry and stringent regulations regarding the use of asbestos cement. Rising per capita income of the middle class has increased its purchasing power, which has resulted in an increase in the number of new constructions.
The "Fiber Cement Market" is segmented on the basis of material, application, end-use, and region. On the basis of material, Portland cement, which is the most widely used type of cement used for making concrete and mortar, held the largest market share. It is a low-cost material and is readily available, which makes it one of the widely used materials for construction globally.
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). Asia-Pacific is projected to grow at the highest rate from 2016 to 2021, because the countries in this region are expected to achieve high growth in the construction sector, thus triggering a huge demand for fiber cement.
Residential sector to gain maximum traction during the forecast period
The residential sector is projected to be the fastest-growing segment by 2021. 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.
 |
| Download PDF Brochure |
Early buyers will receive 10% customization on reports.
The siding segment contributes maximum market share to the fiber cement market
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.
Asia-Pacific to play a key role in the market for fiber cement
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 Asia-Pacific 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.
Target audience:
- Raw material suppliers and producers
- Regulatory bodies
- Fiber cement distributors/suppliers
- End users (builders, contractors)
Scope of the Report:
By Material
- Portland cement
- Sand
- Cellulosic material (Fiber)
- Others (paints and polymeric additives)
By Application
- Molding & trim
- Siding
- Roofing
- Others (backer boards, ceilings, countertops, and interior wall cladding)
By End-Use
- Residential
- Non-residential
By Region
- North America
- Europe
- Asia-Pacific
- RoW
Companies such as Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Compagnie de Saint Gobain SA (France), and Toray Industries Inc (Japan) were the key players who adopted this strategy to increase their geographic reach and product offerings, to increase the customer base, and to stay ahead of competitors.
No comments:
Post a Comment