July 21, 2021
According to the business intelligence report titled ‘Fiber Cement Market Size By Application (Siding, Roofing), By Sector (Residential, Non-Residential [Commercial, Institutional, Industrial]), By End-User (New Construction, Improvements & Repair), COVID19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027’, available with Market Study Report LLC, global fiber cement market is estimated to showcase impressive trends between 2021-2027.
Rising concerns over ageing buildings in developed countries and surging expenditure on construction projects are key factors stimulating global fiber cement market expansion. Moreover, increasing infrastructure development activities in emerging nations, and widespread replacement of asbestos roofing will aid industry growth.
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For the unversed, fiber cement is a mixture of cement, wood fiber, and other additives which can perform well in adverse weather conditions as well as against insects and wear. It is versatile, sustainable, and energy efficient in nature. Moreover, no pesticides are utilized in the manufacturing process of fiber cement.
While the environment friendly nature of fiber cement will facilitate market augmentation, high installation costs is poised to act as a challenge.
Based on application scope, global fiber cement industry is divided into roofing, sliding, and others. Among these, sliding segment is poised to expand at 3.6% CAGR through 2027 owing to rising construction, repair, and remodeling activities in developed countries.
Speaking of sector, the business sphere is bifurcated into residential, and non-residential (commercial, industrial, and institutional). Among these, industrial segment is expected to grow substantially through 2027, due to growing industrial activities in developing nations.
Moving on to end-user spectrum, the market space is fragmented into improvements & repair, and new construction. Surging government concerns regarding ageing buildings, along with increasing focus on improving local infrastructure are the factors responsible for the expansion of improvements & repair segment.
Regionally speaking, Middle East & Africa is projected to hold the fourth largest sales volument share in worldwide fiber cement industry by 2027, owing various government initiatives to improve commercial infrastructure, and surging income level of the populace.
Key players profiled in the report are TD LTM LLC, James Hardie Building Products Inc., Swisspearl, Allura USA, Taiga Building Products Ltd., CertainTeed, TPI Polene Public Company Ltd., Nichiha USA Inc., Etex Group, GAF Materials Corporation, SCG International Corporation Co. Ltd., Cemplank, LATONIT, SHERA (Mahaphant Fibre Cement Pvt. Ltd.), Cembrit Group A/S, and Wahrhahn GmbH.