DUBLIN--(BUSINESS WIRE )--The "Middle East Fiber Cement Board Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Type and End User" report has been added to ResearchAndMarkets.com's offering.
The Middle East fiber cement board market is expected to grow from US$ 215.85 million in 2021 to US$ 314.91 million by 2028. It is expected to grow at a CAGR of 5.5% from 2021 to 2028.
Fiber cement boards are composite materials made from cement, sand, and cellulose fibers. The fiber cement boards are termite, water, and fire-resistant, making them an ideal material in the construction industry.
Based on application, the Middle East fiber cement board market is segmented into residential and non-residential. In 2020, the non-residential segment held the largest share in the Middle East fiber cement board market. Further, the non-residential segment is also expected to be the fastest-growing segment in the Middle East fiber cement board market during the forecast period.
Due to its durability and excellent weather-resistant properties, it is increasingly used for external wall cladding for commercial construction projects. The fiber cement boards also require low maintenance and can be painted and textured to fit into the commercial spaces of buildings.
The Middle East fiber cement board market is segmented into Saudi Arabia, UAE, Kuwait, Qatar, Iraq, Bahrain, Turkey, Jordan, Syria, and the rest of the Middle East. The increase in construction activities in the residential and non-residential sectors and the rising level of support provided to the construction industry by the government of various countries in the Middle East are driving the demand for construction materials, including fiber cement boards.
The increasing uptake of innovative eco-friendly materials in the Middle East construction industry and the presence of government standards and initiatives for developing smart buildings are driving the demand for fiber cement boards in the Middle East.
The chemicals & materials industry faced unprecedented challenges due to the COVID-19 pandemic. The shortage of raw materials and labor, shutdown of factories, and other operational difficulties associated with COVID-19 safety protocols adversely affected the Middle East fiber cement board market. The lockdown measures disturbed the supply chains and production of fiber cement boards.
COVID-19 greatly affected construction projects under development in countries, such as the UAE and Saudi Arabia. However, the successful implementation of large-scale vaccination drives eased the tension in current business scenarios, leading to a rise in business activities.
The economies are reviving their operations, and the demand for fiber cement boards is expected to rise globally in the coming years. The Dubai Development Authority (DDA) took various steps to mitigate the impact of COVID-19 on the construction sector. In the Kingdom of Saudi Arabia, Saudi Vision 2030 and mega-projects promoted the construction industry despite the critical scenario that has a positive impact on the fiber cement board market.
Tepe Betopan A.S., SAINT GOBAIN S.A., Hume Cemboard Industries Sdn Bhd, IKK Group, ACFA Building Solution, Danube Group, United Mining Industries, Cladme, Qatar International Trading Co. LTD, and MADA GYPSUM are leading players in the Middle East fiber cement board market.
These companies are adopting strategies, such as mergers and acquisitions and product launches, expanding their geographic presence and consumer base.
For more information about this report visit https://www.researchandmarkets.com/r/glbow4
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900