The global fiber cement board market value is estimated to clock a revenue of USD 16,890.0 million by 2033. Our chemicals and materials industry experts opine that fiber cement board suppliers can expect a CAGR of 4.4% through 2033, with a present valuation of USD 10,980.6 million in 2023.
| Attribute | Details |
|---|---|
| Fiber Cement Board Market Size, 2022 | USD 10,520 million |
| Fiber Cement Board Market Size, 2023 | USD 10,980.6 million |
| Fiber Cement Board Market Size, 2033 | USD 16,890.0 million |
| Value CAGR (2023 to 2033) | 4.4% |
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| Attributes | Details |
|---|---|
| Fiber Cement Board Market Size (2018) | USD 9,021.7 million |
| Fiber Cement Board Market Size (2022) | USD 10,520 million |
The market has expanded from USD 9,021.7 million in 2018 to USD 10,520 million in 2022. In the historical period, the construction industry has seen significant growth in the erection of industrial, commercial, and residential buildings.
Since fiber cement boards are used for applications like siding, flooring, and roofing, among others, growth in the construction sector positively influenced fiber cement boards’ sales. Apart from this, the product is also being used extensively in real estate businesses.
Over the forecast period, fiber cement board sales are estimated to surge with the increase in renovation and construction activities across higher-income regions. The soaring number of single-family homes in developed regions like North America and Europe is also predicted to catalyze the product demand.
Principal Consultant
| Segment | Market Value % (2023) |
|---|---|
| Commercial | 32.1% |
| Portland Cement | 78.1% |
The commercial use of fiber cement boards makes up 32.1% of the global market. Increasing construction of commercial buildings and surging demand for green innovative fiber cement products are propelling product sales. New innovations to make fiber cement boards more durable, water and fire-resistant, and low-maintenance are boosting their utilization in commercial construction projects the world over.
Swelling demand for wall partitions in commercial spaces is increasing the deployment of fiber cement boards. Upcoming new construction projects are expected to support continuous product sales. Additionally, heightened demand for the refurbishment of old buildings is also expected to surge the adoption of fiber cement boards.
Based on raw materials, Portland cement is garnering a 78.1% share of the overall market. Portland cement is extremely resistant to water, fire, and termites, which makes it suitable for constructing high-quality and long-lasting homes and furniture. Another reason behind using fiber cement boards consisting of Portland cement is their ability to stand strong in the presence of leaks and moisture.
The following table displays the statistics of the top countries in the fiber cement board market. As per the demand analysis, the market in India is expected to flourish at a greater CAGR. The increasing affordability of fiber cement boards and robust construction projects in the country are key catalysts driving the fiber cement board industry in India.
| Countries | Market CAGR % (2023 to 2033) |
|---|---|
| The United States | 2.3% |
| Germany | 1.8% |
| The United Kingdom | 2% |
| China | 5.1% |
| India | 5.3% |
| Japan | 2.7% |
The United States market for fiber cement board is anticipated to retain its prominent share in the global market. As per the latest market statistics by FMI analysts, the market is estimated to register a CAGR of 2.3% through 2033.
Due to high concern for the environment, fiber cement board manufacturers are witnessing high product demand for eco-friendly options. They are especially used in residential buildings as customers with high purchasing power and a green bent of mind opt for eco-friendly construction materials. This is further supported by the increasing preference of designers and architects to deploy products that can be recycled, reused, or transformed.
Fiber cement board, which is a combination of mineral materials, basic earth elements, air, water, and fire, suggests a design solution that fulfills the basic principles of circular construction. The use of fiber cement board is also driven by the focus of architects to develop buildings that are durable and strong.
The United Kingdom market for fiber cement board is projected to expand at a CAGR of 2% through 2033. Key factors boosting the market growth:
The market for fiber cement board in India is projected to expand at a CAGR of 5.3% through 2033. Comparatively higher sales of fiber cement board in India can be credited to the following factors:
The Japan fiber cement board market is expected to record a CAGR of 2.7% through 2033. Increasing innovation in these materials is boosting their usage in construction projects. For instance, the comparatively low-cost fiber cement boards from Japan eliminate the maintenance costs of these boards as they have the option of self-cleaning, and photocatalytic coating option. Other factors compelling market growth include:
The demand for fiber cement boards is also projected to rise as reconstruction activities see a steady growth trajectory in Japan.
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The fiber cement board market is partly fragmented. Key players are investing in research and development to innovate new products for customers. Apart from this, market participants are establishing production capacities and strengthening their distribution network to boost their presence in other markets. Mergers and acquisitions and innovative marketing techniques are some other expansion strategies.
New Developments in the Fiber Cement Board Market
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.4% from 2023 to 2033 |
| Base Year of Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Raw material, Application, End Use, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; Asia Pacific; Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Argentina, Germany, The United Kingdom, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASIAN, GCC Countries, South Africa |
| Key Companies Profiled | 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 |
| Customization scope | Available Upon Request |
| Pricing and Purchase Option | Avail of Customized purchase options to meet your exact research needs. |
The global fiber cement board market is likely to register a CAGR of 4.3% during the forecast period.
Key players accounting for the highest fiber cement board market share include 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, and Soben board Everest among others.
As per the analysis, the fiber cement board market share is likely to be USD 27 Billion by 2032.
Commercial end use significantly deploys fiber cement board.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Raw Material 5.1. Portland cement 5.2. Silica 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 6.1. Commercial Buildings 6.2. Residential Buildings 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Residential 7.2. Commercial 7.3. Industrial 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. James Hardie Industries PLC 18.2. Etex Group NV 18.3. Cembrit 18.4. Mahaphant Fibre Cement Co., Ltd. 18.5. Elementia 18.6. S.A.B de C.V. 18.7. Everest Industries 18.8. Saint-Gobain 18.9. Hume Cemboard Industries 18.10. Nichiha Corporation 18.11. Soben board Everest 19. Assumptions & Acronyms Used 20. Research Methodology
Chemicals & Materials
February 2023
REP-GB-167
325 pages
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Fiber Cement Board Market
