Fiber Cement Market Size To Surpass Us$ 20.3 Billion By 2025, Reveals A Marketsandmarkets™ Research Report

By Author: Jack Martin
Total Articles: 256
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Fiber cement is a building material used to cover the exterior materials used in the construction of residential and non-residential buildings and is produced using three primary components, namely, Portland cement, silica, and cellulose fiber. The global fiber cement market size is projected to grow from USD 16.4 billion in 2020 to USD 20.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast year. The growth of this market is attributed to the increasing construction activities in the residential and non-residential sectors and government regulations pertaining to the use of asbestos.

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On the basis of the end-use, non-residential is projected to be the largest segment in the fiber cement market during the forecast period. With the increase in demand for non-residential construction activities, majorly in the industrial and agricultural sector, the fiber cement products is observing an increase in its demand.

The fiber cement market is studied for five regions, ...
... namely, North America, APAC, Europe, Middle East & Africa and South America. The APAC region accounted for the largest market share in 2019, in terms of both value and volume. Further, the market for fiber cement in the APAC region is projected to grow at the highest CAGR from 2020 to 2025, in terms of both value and volume. The major drivers of the fiber cement market in this region are the growing construction sector, particularly in rapidly-growing countries such as China and India, huge foreign investments, and growing awareness about the ill-effects of using asbestos, among masses.

The fiber cement market has been dominated by large players, such as the Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), CSR Limited (Australia), and Nichiha Corporation (Japan). These players have adopted various growth strategies, such as acquisitions, investments, and expansions, to increase their market shares and enhance their product portfolios.

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Acquisitions accounted for the largest share of all the strategic developments that took place in the fiber cement market between 2016 and 2020. Key players such as James Hardie (Ireland), Toray Corporation (Japan), and Etex Corporation (Belgium) adopted these strategies to strengthen their business portfolios and presence in the fiber cement industry.

James Hardie’s strong global presence, coupled with the attractive portfolio of fiber cement, makes it a global player in the fiber cement market. Its expertise in fiber cement building materials, and significant investments in its plants and market development programs have contributed toward its significant position in the market. The adoption of strategic initiatives, e.g., acquisitions, has also contributed to the success of the company. For instance, the acquisition of Fermacell GmbH (Germany) enhanced its fiber cement business in the European market.

Etex Group is considered to be one of the most popular companies in building construction in Europe and other regions. The company focuses on the manufacturing process of building products and is a global leader in offering dry and lightweight construction solutions. It provides a wide range of construction solutions to the multi-residential, industrial, as well as commercial sectors, and has worldwide operations. It operates across 42 countries through more than 90 subsidiaries and 113 factories worldwide. The company has 21 factories in America, 76 in Europe, 10 factories in Africa, and six in Asia.

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