Fiber Cement Board Market Size, Share, Demand, Growth & Trends by 2032
The fiber cement board market is estimated to create an absolute dollar opportunity with a steady CAGR of 4.3% throughout the forecast years 2022-2032. Fiber cement boards are constructed of plant extract cellulose, cement, and sand. Cement plays an important role in the formation of fiber cement boards as it fits as an extremely hard material that makes it a quite affordable alternative for the real estate business.
Fiber cement boards are widely used for covering the
exteriors of the buildings in residential, commercial, and industrial
buildings. The construction sector is the prominent end-user of the fiber
cement board market. With the rising need for residential buildings, the fiber
cement board market is also anticipated to showcase phenomenal growth over the
forecast period.
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Key Takeaways
- The
rising population in the cities and the increased number of migrations
from rural to urban areas have led to rapid urbanization. A significant
rise in construction projects has been seen over the past few years and is
estimated to rise in the future, resulting in increased sales of fiber
cement boards in the global market.
- Rising
inclination towards creating planned cities and better living conditions
are driving sales of fiber cement board more in all the countries
simultaneously.
- The
government is rapidly taking initiatives across the lower and
middle-income countries in order to provide affordable housing to large
sections of society. These opportunities are expected to create massive
demand for fiber cement boards during the forecast years.
- All
the major higher-income regions carry out renovation activities that are
expected to further boost the sales of fiber cement boards in these
regions. The contribution of developed regions in the construction sector
is predicted to boost sales in the fiber cement board market.
- The
construction industry has maximum contribution to the sales of fiber
cement board market since it is used for applications such as flooring,
siding, and roofing, among others. Growth in the construction industry is
expected to drive the sales of fiber cement boards extensively in the
future.
- Increasing
demand for new housing and refurbishment of old constructions is
drastically increasing demand for fiber cement board in the coming years.
Competitive Landscape
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, Soben board
Everest are some of the key companies profiled in the full version of the
report.
Key market players are expected to expand the
portfolio of the company and augment its fiber cement board market share in the
coming days. Some major companies in the industry are making technological
advancements to get an edge over the market.
More Insights into the Fiber Cement Board
Market
North America and Europe are expected
to lead the global fiber cement board market. Countries including the
U.K, North America, Germany, and Spain among others are
expected to be prominent countries in the fiber cement board market owing to
high construction spending in these countries.
The surge in the global construction activities in
commercial and residential areas is expected to contribute to the growth of the
fiber cement board market in North America.
There is an aesthetic advantage attached to fiber
cement board as it resembles wood planks or wood shingles which makes the
demand for fiber cement board in the architecture sector also. Moreover, the
sales of fiber cement boards are more eco-friendly options for residential
applications.
Regions such as the Asia Pacific, Latin
America, and countries like MEA are witnessing a surge in construction
activities amidst growing urbanization is expected to drive the demand for
fiber cement board in the global market.
Developing countries like India, China, and Indonesia
are foreseeing rapid population growth which is yet another factor driving
sales of fiber cement boards and better housing conditions, which is expected
to drive the construction industry in the Asia Pacific region.
North America and European regions are predicted
to hold a prominent share in the global fiber cement board market. New
opportunities for the fiber cement board market are predicted to be generated
from the Middle East & Africa, and Latin
America regions.
Key Segments
By Raw Material:
- Portland
cement
- Silica
By Application:
- Commercial
Buildings
- Residential
Buildings
By End Use:
- Residential
- Commercial
- Industrial
By Region:
- North
America
- Latin
America
- Europe
- Asia
Pacific
- MEA
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Full Report: https://www.futuremarketinsights.com/reports/fiber-cement-board-market
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