October 06, 2022 15:32 ET | Source: Facts & Factors Facts & Factors
NEW YORK, United States, Oct. 06, 2022 (GLOBE NEWSWIRE) -- According toFacts and Factors has published a new research report titled “Fiber Cement Market Size, Share, Growth Analysis Report By Raw Material (Portland Cement, Silica, Cellulosic Fiber, Others), By Construction Type (Siding, Roofing, Molding & Trim, Others), By End-Use (Residential, Non-Residential), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” in its research database.
“According to the latest research study, the global Fiber Cement Market size was valued at USD 16,924.20 Million in 2021 and it is expected to reach around USD 21,291.26 Million by 2028, growing at a compound annual growth rate (CAGR) of approximately 3.90% during the forecast period 2022 to 2028.”
Fiber cement is a synthetic building and construction material that offers exceptional physical properties such as high toughness and durability. Fiber cement is a lignocellulose reinforced composite material comprised of sand, Portland cement, silica sand, and cellulose fibers. Mainly, its application is in facade and roofing products.
Fiber cement products include boards, panels, and partitions and are widely used in civil and commercial construction due to their fire and impact-resistant properties. Fiber cement panels are used for exterior wall cladding, partitions, ceilings, and decorative applications.
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The growing demand for reducing the overall carbon footprint from the buildings and construction sector is expected to drive the use of the product. Factors such as rapid urbanization and industrialization in developing countries, booming construction industry, high production of fiber cement products, and the banning of asbestos-cement products are driving the growth of the global fiber cement market.
In addition, increased investment in the infrastructure sector creates opportunities for companies to enter the market. However, the shortage of skilled labor in developing countries is hindering the growth of the fiber cement market.
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Fiber Cement Market: Segmentation Analysis
The global fiber cement market has been segmented into raw materials, construction types, end-use, and region.
Based on raw materials, the market is segmented into Portland cement, silica, cellulose fiber, and others. Portland cement is expected to dominate the fiber cement market by value and volume in 2021. Based on construction type, the market is segmented into partitions, roofing, moldings & trims, and others.
Based on end-user, the global fiber cement market is segmented into residential and non-residential. The non-residential segment will be the dominating segment in the fiber cement market in 2021.
The global Fiber Cement market is segmented as follows:
Browse the full “Fiber Cement Market Size, Share, Growth Analysis Report By Raw Material (Portland Cement, Silica, Cellulosic Fiber, Others), By Construction Type (Siding, Roofing, Molding & Trim, Others), By End-Use (Residential, Non-Residential), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2022 – 2028” Report at https://www.fnfresearch.com/fiber-cement-market
The report also provides an in-depth analysis of the market's main competitors, as well as information on their competitiveness. The research also identifies and analyses important business strategies used by these main market players, such as mergers and acquisitions (M&A), affiliations, collaborations, and contracts. The study examines, among other things, each company's global presence, competitors, service offers, and standards. Some of the main competitors dominating the global Fiber Cement market include –
Key Insights from Primary Research:
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The global fiber cement market is segmented into geographical regions: North America, Latin America, Europe, Asia-Pacific, the Middle East and Africa. Asia-Pacific held the largest market share in 2021. Factors such as the improving global economy, the growth of the construction industry, especially in rapidly developing countries like China and India, huge foreign investments, and awareness of the harmful effects of increasing use of asbestos are expected to drive the regional fiber cement market.
In addition, stricter standards regarding using asbestos cement in residential and commercial buildings have forced builders and authorities to look for alternatives. These factors, in turn, drive demand for fiber cement in the Asia-Pacific market.
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