As cited by the research report titled ‘Global Fiber Cement Rain-Screen Panels Market Size study, by Type (Ultra Thin Panels, Thick Panels, Super Thick Panels, and Conventional Panels), Application (Residential, Commercial, and Industrial) and Regional Forecasts 2020-2027’, available with Market Study Report, global fiber cement rain-screen panels market was worth USD 35.25 billion in 2019 and is projected to grow with a CAGR of 6.5% over 2020-2027 to account for USD 58.34 billion by the end of forecast period.
 

Increase in demand for energy-efficient buildings, and government guidelines for increasing awareness about wellbeing of the environment are driving the growth of global fiber cement rain-screen panels market. Moreover, inclination towards structural constructions which are energy efficient, necessity to renovate old buildings, rising cladding activities, and federal support for green buildings are bolstering the demand for fiber cement rain-screen panels.
 

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For instance, Kingspan Group plc invested in the Nordic region in March 2018 to reach wider customer base for its premium Kooltherm insulation product range. Hence, investments by companies in R&D activities, expanding their product range, and serving larger consumer groups will provide impetus to the industry landscape.
 

For the record, fiber cement rain-screen panels are made up of cement, pulverized limestone, cellulose fiber, and water. They are used in buildings and offices due to their resistivity towards high pressure winds and rainwater, with high durability and longer lifespan.
 

However, availability of plethora of alternatives like terracotta, high-pressure laminates, metals and composite materials, along with stiff competition leading to restrained entry of new players are hindering the growth of worldwide fiber cement rain-screen panels market.
 

Based on types, global fiber cement rain-screen panels industry is segmented into thick panels, ultra-thin panels, conventional panels, and super thick panels. According to application spectrum, the marketplace is divided into residential, industrial, and commercial.
 

Geographically, Asia Pacific, Europe, North America, and Latin America are the key contributors to the overall fiber cement rain-screen panels industry remuneration. Of these, Europe is slated to be a major growth hub for the market over 2020-2027, owing to flourishing construction sector in nations like the UK, Italy, France, Germany, and Russia.
 

Whereas, Asia Pacific market is reckoned to grow rapidly over the forecast period, on account of increasing population together with robust economic development.
 

Leading players influencing global fiber cement rain-screen panels industry trends are Evonik Industries AG, James Hardie Industries plc, Cladding Corp., American Fiber Cement Corporation, Etex Group, Compagnie de Saint-Gobain S.A., Troy Industries Inc., Soben Green Building Systems (Guangdong) Co. Ltd., Cembrit, and SANLE Group.