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 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. Fiber cement decorative cladding is used for rainscreen applications, while fiber cement boards are used in tunnels, corridors, hotel lobbies, shopping malls, and residential buildings, among others. The application of fiber cement products in residences, commercial buildings, and warehouses, among others, provides resistance to fire, water, and impact. Fiber cement is a low-cost composite material and provides resistance to fungi, mold, and bacteria, thus increasing its durability. Furthermore, the material is inert and, hence, can directly be dumped in landfills without causing harm to the environment.
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The increasing demand for fiber cement in the building and construction industry is expected to drive market growth during the forecast period. The rising disposable incomes of individuals coupled with the higher standards of living are expected to be the key drivers for the growth of the building and construction industry, in turn, fueling the demand for fiber cement during the review period.
The key players in the global fiber cement market are adopting various strategies such as acquisitions, product launches, and expansions to increase their market shares. In April 2018, James Hardie Industries PLC completed its acquisition of the German XI (DL) Holdings GmbH and its subsidiaries from Xella International SA. This acquisition aims at accelerating the growth of the company’s fiber cement business in Europe.
The global fiber cement market has been studied with respect to five regions—Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia-Pacific accounted for the largest share of the global fiber cement market in 2017 and is expected to continue its dominance during the forecast period. This can be attributed to rapid urbanization and increasing residential construction in the region. China, India, Japan, Indonesia, and Australia are the major countries contributing to the growth of the fiber cement market in Asia-Pacific.
North America and the Middle East & Africa are the other substantial markets for fiber cement. Increasing residential construction in Canada and the US is likely to fuel product demand in the coming years. Due to large-scale investments in the construction of residential and commercial buildings, the fiber cement market in the UAE is projected to grow at a significant rate.
The markets in Europe and Latin America are expected to witness moderate growth during the forecast period.
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The global fiber cement market has been segmented on the basis of material, product, application, end user, and region.
Based on material, the global fiber cement market has been segregated into cellulosic material, sand, Portland cement, and others.
Based on product, the global fiber cement market has been categorized into boards, panels, siding, and others.
By application, the global fiber cement market has been divided into cladding, flooring, inner lining, fire and acoustic walls, partition walls, ceilings, molding & trim, and others.
Residential and non-residential are the major end user segments of the global fiber cement market.
Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa are the five regions studied for the global fiber cement market.
Some of the leading 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), CSR Limited (Australia), Etex Group NV (Belgium), Toray Industries Inc. (Japan), American Fiber Cement Corporation (US), Nichiha (Japan), and GAF (US).
- Fiber cement manufacturers
- Traders and distributors of fiber cement
- Research and development institutes
- Potential investors
- Raw material suppliers
- Nationalized laboratories
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