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The global fiber cement market was valued at USD 14,977.31 million in 2020 and is projected to reach USD 21,393.2 million by 2028 at a CAGR of 4.97%. In terms of volume, the global market was sized at 29,274.4 kilotons in 2020 and is expected to register a CAGR of 4.05% to be sized at 38,945.5 kilotons by the end of the review period.
Fiber cement, also known as reinforced fiber cement, is a composite building material used in construction. It is mainly composed of Portland cement, fine silica (sand), cellulosic material, and other additives. Fiber cement is a low-cost composite material and provides resistance to fungi, mold, and bacteria, increasing its durability. Furthermore, the material is inert and, hence, can directly be dumped in landfills without causing harm to the environment.
Fiber cement products include boards, panels, and siding and are widely used in the construction of residential and commercial buildings due to their fire and impact-resistant properties. Fiber cement panels are used for exterior wall cladding, partition walls, ceilings, and decorative applications.
The competitive landscape offers an analysis of the key developments by the companies operating in the global market in the last three years. The global market for synthetic fibers is projected to witness healthy growth during the forecast period, owing to the high demand from end-use applications such as Siding, Roofing, Flooring, Molding and Trim, Inner Lining, Fire and Acostic Walls, Partition Walls, and other application.
James Hardie Industries PLC (Ireland), Allura (US), Cembrit Holding A/S (Denmark), CSR Limited (Australia), Etex Group NV (Belgium), Toray Industries Inc. (US), American Fiber Cement Corporation (US), Nichiha (Japan), GAF (US), and Shandong Lutai Building Material Science, and Technology Group Co., Ltd (China).
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