Fiber Cement Board Market Size Worth $2.34 Bn, Globally, by 2028 With 5.5% CAGR – Trends, Share, Growth, Global Analysis & Forecast – Comprehensive Research Report by The Insight Partners
Fiber Cement Board Market is expected to grow from US$ 1.68 billion in 2021 to US$ 2.34 billion by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.
New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — The Insight Partners published the latest research study on “Fiber Cement Board Market to 2028 – COVID-19 Impact and Global Analysis – by Type (Low-Density Fiber Cement Board, Medium Density Fiber Cement Board, High-Density Fiber Cement Board) and End User (Residential and Commercial),” includes the factors governing the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments. Fiber cement boards are composed of sand, cement, and cellulose fibers. They are made of Portland cement and have a glass-fiber mesh on the surface. These boards can be used alone or in conjunction with plywood. They are highly resistant to water, fire, and termites, which makes them an excellent choice for constructing high-quality, long-lasting furniture and structures.
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Global Fiber Cement Board Market Report Scope, Segmentations, Regional & Country Scope:
|Market Size Value in||US$ 1.68 Billion in 2021|
|Market Size Value by||US$ 2.34 Billion by 2028|
|Growth rate||CAGR of 5.5 % from 2022 to 2028.|
|Forecast Period||2021- 2028|
|No. of Pages||150|
|Historical data available||Yes|
|No. of chart and figures||61|
|Segments covered||Fuel type, Power Output|
|Regional scope||North America; Europe; Asia Pacific; Latin America; MEA|
|Country scope||US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Key Research Capabilities||Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development|
|Purchase Options||Request customized purchase options to meet your research needs.|
Fiber Cement Board Market: Competitive Landscape
Nichiha Co., Ltd; Cembrit Holding A/S; Dow Inc.; Beijing Hocreboard Building Materials Co. Ltd.; SCG Building Materials Co., Ltd.; Saint Gobain S.A.; Tepe Betopan A.Ş.; IKK Group; Hume Cemboard Industries Sdn Bhd; and ACFA Building Solution are among the key players operating in the fiber cement board market. The leading players adopt several strategies, such as mergers & acquisitions and product launches, to expand their geographic presence and consumer base.
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Based on end user, the fiber cement board market is segmented into residential and commercial. In 2021, the residential segment dominated the market. Furthermore, the fiber cement board market for this segment is expected to grow at a faster CAGR during the forecast period. Fiber cement boards have become a common option for residential building construction as they outperform plywood and other materials. Fiber cement boards are preferred over gypsum boards due to their greater resistance to moisture and leakage. Fiber cement boards have excellent moisture absorption and drying qualities, which make them weather durable.
The fiber cement board market is segmented into five main regions—North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SCAM). In 2021, Asia Pacific dominated the global market. The growth of the Asia Pacific fiber cement board is attributed to the proliferation of various end-user industries in the region, the prevalence of international manufacturers such as, Nichiha Co., Ltd, & Saint Gobain S.A., and increased environmental awareness across the region. Factors such as the growing packaging industry, government policies encouraging environment-friendly products, and investments by key market players also support the fiber cement board market growth in the region.
Fiber cement board is a versatile building material that may be used in exterior siding, interior walls, false ceilings, and various other areas. They are made of sand, cellulose fibers, and cement and can endure high temperatures, which makes them perfect for construction projects in different climatic conditions. It consists of boards, panels, and siding and is widely utilized in the construction of residential and commercial structures because to its fire and impact resistance. They may also be used for external wall cladding, partition walls, ceilings, and aesthetic purposes. Fiber cement ornamental cladding is typically utilized for rainscreen applications, but fiber cement boards are commonly seen in corridors, tunnels, hotel lobbies, shopping malls, and residential structures, among other places. It is a low-cost composite material that is also resistant to fungus, mould, and bacteria, extending its longevity.
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The fiber cement board market, based on geography, is segmented into North America, Europe, Asia Pacific (APAC), South and Central America (SCAM), and the Middle East and Africa (MEA). In 2021, Asia Pacific dominated the market. The growth of various end-use industries in Asia Pacific is driving the growth of the fiber cement board market in this region. The building & construction industry strongly contributes to the market growth in Asia Pacific. In India, construction is the second-largest industry, after agriculture, accounting for ~11% of the country’s GDP. A healthy distribution of residential and industrial building projects contributes to the stability of the fiber cement board market in Asia Pacific.
Increased urbanization, government and private sector investments, and consumer spending are the factors that collectively impact the growth of Asia Pacific economies, which are also likely to trigger infrastructure developments in the region, thereby contributing to the related markets. In recent years, product acceptance has expanded in key end-use industries such as residential and commercial. Rapid residential expansion is a primary driver for the worldwide fiber cement board market, and favorable government policies and rising environmental consciousness are likely to boost market revenue growth throughout the forecast period. They are also very thermally strong and do not easily catch fire. Because these boards are asbestos-free, they are far less hazardous to work with and preferred in hospital situations where high functionality materials are necessary to fulfill tight laws and industry requirements.
In 2021, Asia Pacific accounted for the most extensive share of the global fiber cement board market. The fiber cement board installations are becoming the most popular and lucrative home improvement project due to the various advantages, such as durability, versatility in style, heat and fire resistance, weather resistance, and low maintenance.
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The increasing use of fiber cement boards in the residential sector and its superiority are the major drivers of fiber cement boards. Fiber cement boards are fireproof, insect resistant, and perform well in natural disasters. They have excellent sound insulation properties. These properties make it suitable for building good quality and long-lasting homes.
Based on the segment type, medium density fibreboard is expected to be the fastest-growing segment during the forecast period. These products are made up of wood products by breaking down hardwood or softwood residuals into wood fibers.
Adopting eco-friendly construction materials is a recent trend in the global fiber cement board market. Construction work requires a tremendous amount of energy, water, and different raw materials. This leads to the generation of large amounts of waste and potentially harmful atmospheric emissions. Therefore, companies focus on building eco-efficient buildings while reducing their environmental impact.
Based on the end-user, residential segment held the largest market share in 2021. In the residential sector, fiber cement boards are highly used for flooring, making furniture, wall cladding, etc. These fiber cement boards are considerably thermal resistant and fire resistant, making the board an ideal solution in kitchens.
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