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Fiber cement board is a material used for commercial, industrial and residential construction purposes. Fiber cement board is used for covering exteriors of a building in both domestic as well manufacturing applications. Fiber cement board is made up of plant extract cellulose, sand and cement where cement fits as an extremely hard material for load-bearing purposes while cellulose is used for aesthetic applications such as sidings, soffit, and trims, or as a tile backing board.
Construction industry extensively uses fiber cement board in residential and industrial development for applications such as flooring, ceiling, roofing and tile backing among other applications. Fiber cement board is water resistant, they are also more resistant to mold and mildew and do not disintegrate or break down due to continuous exposure to moisture. Fiber cement is made up of more than 90 percent of non-flammable material hence it is not flammable which makes it safe for use in various applications.
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Impact of COVID-19 on Chemicals & Materials Industry
COVID-19 pandemic has caused severe impact on the global economy at various levels and the impact is seen on Chemicals & Materials market as well. The market growth declined drastically during the lockdown when the manufacturing units experienced shutdowns and a dearth in raw materials supply and absence of human resources Owing to the ongoing crisis caused by the pandemic, the production, and supply chain activities have seen a minor slump. However, the market is likely to set on a path of regaining as the economy starts to stabilize.
Extensive rounds of essential and a comprehensive secondary research have been leveraged by the analysts at Future Market Insights to arrive at various estimations and projections of the Fiber Cement Board Market, both at national and international levels. The analysts have utilized various industry-wide unmistakable business insight apparatuses to merge realities, figures, and market information into income assessments and projections in the Fiber Cement Board Market.
Fiber Cement Board Market: Driver
Construction industry is a prominent end user in the fiber cement board market. In the recent years with the increasing population migration and urbanization, construction projects have seen a widespread increase across the globe. Focus on more planned cities and better living condition has been a priority for governments owing to multiple reasons such as to reduce wastage of resources, safer & healthier living conditions and long lasting new age buildings.
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Fiber cement board is used prominently in the construction industry for applications such as flooring, siding and roofing among others. Growth in construction industry is expected to drive the fiber cement board extensively in the future. Increasing construction activities in large cities because of increasing demand for new housing as well as refurbishment of old constructions is also expected to increase the demand for fiber cement board in the coming years. Increasing commercial construction activities are also expected to contribute to the growth of the fiber cement board market.
Fiber Cement Board Market: Restraints
Fiber cement board is an expensive construction material and cost more when compared to alternatives such as Vinyl boards for installation. Alternatives such as vinyl boards are more energy efficient, and also require less maintenance. Such factors are expected to impact the growth of fiber cement board market in the future. Vinyl sliding are preferred as they are more economically feasible when compared to fiber cement board which is expected to affect the market.
Fiber Cement Board Market: Key Participants
James Hardie Industries PLC, Etex Group NV, Cembrit, Mahaphant Fibre Cement Co., Ltd., Elementia, S.A.B de C.V., Everest Industries, Saint-Gobain, Hume Cemboard Industries, Nichiha Corporation, and Soben board Everest among others.
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4. Global Fiber Cement Board Market Analysis 2017-2021 and Forecast, 2022-2032
5. Global Fiber Cement Board Market Analysis 2017-2021 and Forecast 2022-2032, By Thickness
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What is the Growth Outlook for the Fiber Cement Board Market? Who are the Prominent Players in the Fiber Cement Board Market that will drive the Global Market during the Forecast Years? What is the Future Analysis for the Total Value of the Fiber Cement Board Market?
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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The post Fiber Cement Board Market to reach a valuation of US$ 27 Bn by 2032; Increasing construction activities going to urbanization expected to drive the demand appeared first on Future Market Insights.
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