New York, Nov. 24, 2022 (GLOBE NEWSWIRE) — The Insight Partners released the latest research study on “Market for fiber cement boards 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 & Commercial),” includes the factors driving the market growth, revenue estimate and forecast, and market share analysis. It also involves identifying of major market players and their most important developments. Fiber cement boards are composed of sand, cement and cellulose fibers. They are made of Portland cement and have a fiberglass mesh on the surface. These boards can be used alone or together with plywood. They are highly resistant to water, fire and termites, making them an excellent choice for constructing high-quality, long-lasting furniture and structures.
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Global market for fiber cement boards Report scope, segmentations, regional and country scope:
|Market size Value in||USD 1.68 billion in 2021|
|Market size Value by||USD 2.34 billion by 2028|
|Growth rate||CAGR of 5.5% from 2022 to 2028.|
|Number of pages||150|
|Historical data available||Yes|
|Number of diagram and figures||61|
|Hedging segments||Fuel type, Power|
|Regional scope||North America; Europe; Asia and the Pacific; Latin America; MEA|
|The extent of the country||USA, 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 Forecasts, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development|
|Purchase options||Request customized purchasing 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 SA; 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 are adopting several strategies, such as mergers and acquisitions and product launches, to expand their geographical 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. Moreover, the fiber cement board market for this segment is expected to grow at a faster CAGR during the forecast period. Fiber cement board has become a common option for home construction as it outperforms plywood and other materials. Fiber cement boards are preferred over gypsum boards because of their greater resistance to moisture and leakage. Fiber cement boards have excellent moisture absorption and drying properties which make them weather resistant.
The fiber cement board market is segmented into five major regions – North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South and 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 proliferation of international manufacturers such as Nichiha Co., Ltd and Saint Gobain SA, and increased environmental awareness across the region. Factors such as the growing packaging industry, government policies encouraging eco-friendly products, and investments by key market players are also supporting the fiber cement board market growth in the region.
Fiber cement board is a versatile building material that can be used in exterior siding, interior walls, false ceilings, and various other areas. They are made of sand, cellulose fibers and cement and can withstand high temperatures, making them perfect for construction projects in different climatic conditions. It consists of boards, panels and siding and is widely used in the construction of residential and commercial structures due to its fire and impact resistance. They can also be used for exterior wall cladding, partitions, ceilings and aesthetic purposes. Fiber cement cladding is typically used for rain screen applications, but fiber cement panels are seen in corridors, tunnels, hotel lobbies, shopping centers and residential structures, among other places. It is an inexpensive composite material that is also resistant to fungus, mold and bacteria, extending its life.
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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 construction industry contributes strongly to the market growth in the Asia Pacific region. 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 investment and consumer spending are the factors that together influence growth in the Asia-Pacific economies, which are also likely to trigger infrastructure development 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 awareness are likely to boost market revenue growth throughout the forecast period. They are also very thermally strong and do not catch fire easily. Because these sheets are asbestos-free, they are far less hazardous to work with and are preferred in hospital situations where high functionality materials are needed to meet stringent laws and industry requirements.
In 2021, Asia Pacific accounted for the largest 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 housing sector and its superiority are the main driving forces behind fiber cement boards. Fiber cement boards are fireproof, insect resistant and perform well in natural disasters. They have excellent soundproofing properties. These properties make it suitable for building good quality and long-lasting homes.
Based on the segment type, medium density fiberboard is expected to be the fastest growing segment during the forecast period. These products consist of wood products by breaking down hardwood or softwood residues into wood fibers.
Adoption of eco-friendly construction materials is a recent trend in the global fiber cement board market. Construction work requires a huge amount of energy, water and various raw materials. This leads to the generation of large amounts of waste and potentially harmful atmospheric emissions. Therefore, companies focus on building environmentally efficient buildings and at the same time reducing their environmental impact.
Based on the end user, the residential segment held the largest market share in 2021. In the residential sector, fiber cement boards are widely used for flooring, furniture manufacturing, wall cladding, etc. These fiber cement boards are significantly thermally resistant and fireproof, making the board an ideal solution in kitchens.
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