The Global Fiber Cement Board Market, according to a report by Market Research Future (MRFR), is slated to cross a market valuation of USD 2,263.0 Million by 2025 at a CAGR of 7.4% over the review period.
Drivers and Restraints
There are several influential factors driving the growth of the market over the review period. For instance, easy installation and utility in residential and non-residential construction of the fiber cement board market are fueling market growth. Its excellent characteristics, such as High resilience structural integrity, and Excellent applicability in moisture-rich environments in comparison with the alternatives, is also likely to drive its demand, and consequently, the market growth. Moreover, the growth of the global construction industry is also expected to contribute substantially towards market growth over the assessment period. Additionally, the Supporting government regulations and initiatives for the usage of fiber cement board over alternatives is also driving the demand.
On the other hand, the application of fiber cement board is restricted due to their narrowness. It is challenging to make fiber cement boards thick as it increases their brittleness. Moreover, the environmental impact of manufacturing fiber cement boards is also expected to hamper the market growth in the foreseeable future.
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Some of the leading market players in the global fiber cement market are James Hardie Industries PLC (Ireland), Alpha Roofing Industries, LLC (US), Allura (US), Cembrit Holding A/S (Denmark), Shandong Cement (China), Etex Group NV (Belgium), CSR Limited (Australia), Toray Industries Inc. (Japan), American Fiber Cement Corporation (US), Nichiha (Japan), and GAF (US).
The market players are likely to invest substantially towards research hand development activities and improve the competitive dynamics of the market with mergers and partnerships.
The global fiber cement board market has been segmented on the basis of raw material, type, and application.
By Raw Material, the market has been segmented into Portland cement, fiber cement boards, and silica fiberboards.
By Type, Fiber cement boards can be segmented based on their density, as low density, medium density, and high density.
By Application, Fiber cement boards are used widely in residential and non-residential applications.
North America is one of the major regional markets for fiber cement boards since it has one of the largest and most advanced construction sectors in the world. There is a higher demand for fiber cement boards owing to government support, local manufacturing, and the presence of an expert labor force for installation. These factors are likely to drive the growth of the market in the region over the review period.
Presently, the largest regional market, the demand for fiber cement board, is high in Europe, particularly in the construction of residential buildings. The superior weather resistance and thermal insulation properties of the fiber cement board are poised to drive the growth of the regional market over the review period.
Asia-Pacific has the largest market for fiber cement boards and is the largest producer of cement across the globe. These factors serve to ensure the growth of the regional market for the fiber cement board due to the easy availability and cheaper cost of raw materials.
Rapid urbanization in the African region and industrialization in the Middle East are slated to drive the growth of the market in the region. Moreover, an increase in the construction of buildings and industries that utilize fiber cement boards is also expected to pose lucrative for market growth over the assessment period.
A relatively smaller market, South America is expected to experience a construction boom, which is consequently poised to drive the growth of the fiber cement board market in the foreseeable future.
Table Of Contents
1. Executive Summary
1.1. Market Introduction
1.1.1 Global Fiber Cement Board Market, By Raw Material
1.1.2 Global Fiber Cement Board Market, By Type
1.1.3 Global Fiber Cement Board Market, By Application
1.1.4 Global Fiber Cement Board Market, By Region
2. Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Takeaways
2.5 Key Buying Criteria
2.6 Macro Factor Indicators Analysis
3. Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List Of Assumptions
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