According to the 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 MarketStudyReport, global fiber cement market is expected to rise exponentially during the period 2021-2027.
 

Surging expenditure on construction projects across the world, excellent features of the product, and increasing replacement of asbestos roofing are factors augmenting the growth of global fiber cement market. 

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For those unaware, fiber cement is made of cement, wood fiber, and other sustainable additives which can endure extreme weather and insects. It is energy-efficient and environmentally friendly as well. 

Growing concerns regarding the aging infrastructure, coupled with soaring government initiatives towards the enhancement of commercial infrastructure are further accelerating the industry development. 

Despite the positive outlook, the massive costs involved in usage of fiber cement, and unanticipated COVID-19 pandemic are likely to hamper the progress of the market in the forthcoming years. 

Based on application spectrum, the siding segment of worldwide fiber cement industry is anticipated to grow at 3.6% CAGR during the analysis period, owing to growing repair & remodeling activities taking place in the developed countries. Low-maintenance characteristics of siding also make it an excellent option for household exteriors, thereby fueling demand in the market.

In terms of sector ambit, the industrial vertical is estimated to observe a substantial expansion during the projected timeline, due to rise in industrial activities in the developing nations which is elevating the usage of the product.

From a geographical standpoint, Middle East & Africa market is poised to account for a considerable revenue share during the assessment timeframe, due to increasing income level of people which will consequently increase construction activities. 

The competitive landscape of global fiber cement industry market is defined by companies such as Swisspearl Group AG, James Hardie Building Products, Taiga Building Products, Allura USA, TPI Polene plc, CertainTeed, Etex Group, Nichiha USA, Inc., SCG International Corporation Co. Ltd., GAF Materials Corporation, Latonit Fiber Cement Boards, Cemplank, Wehrhahn GmbH, Cembrit Group A/S, and Shera Board among others.