The fiber cement market share is expected to increase by USD 4.77 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 5.31%.
This fiber cement market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers fiber cement market segmentations by end-user (residential and commercial), application (siding, molding, and others), and geography (APAC, North America, Europe, South America, and MEA). The fiber cement market report also offers information on several market vendors, including Cembrit Holding AS, Compagnie de Saint-Gobain SA, Etex NV, Everest Industries Ltd., Hume Cemboard Industries Sdn Bhd., James Hardie Building Products Inc., Mahaphant Fiber Cement Pvt. Ltd., Siam Cement PCL, Toray Industries Inc., and Visaka Industries Ltd. among others.
What will the Fiber Cement Market Size be During the Forecast Period?
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Fiber Cement Market: Key Drivers, Trends, and Challenges
The increasing construction activities globally is notably driving the fiber cement market growth, although factors such as the high cost of fiber cement when compared to its substitutes may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the fiber cement industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Fiber Cement Market Driver
The increasing construction activities globally is one of the key drivers supporting the fiber cement market growth. For instance, China- Beijing International Airport is expected to surpass Dubai’s Al Maktoum International Airport in cost, total square miles, and passenger and plane capacity. The first phase of the project was completed in 2008 and further expansion is expected to be complete by 2025. Such growth in the demand for residential and commercial spaces propel the need for fiber cement as it is extensively used in various construction applications such as siding, trimming, and others. Siding and roofing made of fiber cement guard the external walls of buildings against harsh weather conditions such as sunlight, rain, snow, and wind. It also mimics the look of wood and improves the aesthetic of buildings. Owing to such benefits, an increasing number of homeowners and builders are opting for fiber cement products, thereby propelling the growth of the global fiber cement market.
Key Fiber Cement Market Trend
The application of fiber-reinforced concrete in designing road pavement is another factor supporting the fiber cement market growth. The primary advantage of fiber-reinforced concrete is that it reduces the cracking of surfaces, which is the result of plastic deformation and shrinkage while drying. Therefore, it is expected to be used in the construction of pavements, which are constantly exposed to heavy loads and high-performance surfaces. In addition, fiber-reinforced concrete is expected to be extensively used in the construction of underground tunnels as fiber-mixed concrete reduces fluid permeability and increases the ductile strength of tunnel walls. Thus, it is expected that fiber-reinforced concrete will witness demand for the construction of pavements during the forecast period.
Key Fiber Cement Market Challenge
The high cost of fiber cement is one of the factors hindering the fiber cement market growth. The overall cost of any construction project is an important parameter. The average cost of fiber cement siding is around $10 per square foot, including installation, which is approximately double the cost of vinyl siding, its substitute. Such high cost makes fiber cement sidings economically and financially unfeasible, especially in emerging economies. It also hinders purchases by price-sensitive consumers and increases their propensity toward cost-effective product offerings such as vinyl siding. This is a major challenge for the global fiber cement market as it is functionally dependent on the sales of fiber cement siding globally. Such challenges will limit the market growth during the forecast period.
This fiber cement market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the fiber cement market as a part of the global construction materials market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the fiber cement market during the forecast period.
Who are the Major Fiber Cement Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Cembrit Holding AS
- Compagnie de Saint-Gobain SA
- Etex NV
- Everest Industries Ltd.
- Hume Cemboard Industries Sdn Bhd.
- James Hardie Building Products Inc.
- Mahaphant Fiber Cement Pvt. Ltd.
- Siam Cement PCL
- Toray Industries Inc.
- Visaka Industries Ltd.
This statistical study of the fiber cement market encompasses successful business strategies deployed by the key vendors. The fiber cement market is fragmented and the vendors are deploying growth strategies such as price and global presence to compete in the market.
Product Insights and News
- Toray Industries Inc. - The company manufactures fibre cements under the brand name of Ichimura Sangyo.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The fiber cement market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Fiber Cement Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the fiber cement market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chains is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of the construction materials market includes the following core components:
- Inputs
- Inbound logistics
- Operations
- Outbound logistics
- Marketing and sales
- Service
- Support activities
- Innovations
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
Which are the Key Regions for Fiber Cement Market?
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43% of the market’s growth will originate from APAC during the forecast period. China and India are the key markets for the fiber cement market in APAC. Market growth in this region will be faster than the growth of the market in other regions.
The strong demand from emerging economies will facilitate the fiber cement market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The outbreak of COVID-19 hindered the growth of the regional construction market, including the fiber cement market, in 2020. However, the lifting of lockdowns in several countries and the large-scale vaccination drives increased economic activities in 2021. Several governments across the region also announced economic stimulus packages, modified a few policies, and launched schemes to aid businesses and revive the economy. Such funding provided by the governments in the region for the support of small and medium-sized enterprises (SMEs) is expected to drive the regional market growth during the forecast period.
What are the Revenue-generating End-user Segments in the Fiber Cement Market?
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The fiber cement market share growth by the residential segment will be significant during the forecast period. The growth of fiber cement in the residential sector is primarily driven by the rising construction activities and increasing use of fiber cement as a substitute for traditional materials. Also, the use of fiber cement for roofing and siding applications offers advantages such as better aesthetics, fire resistance, higher endurance against weather extremities, and higher resistance to warping and rotting than traditional materials. Such factors will drive the segment growth during the forecast period.
This report provides an accurate prediction of the contribution of all the segments to the growth of the fiber cement market size and actionable market insights on post COVID-19 impact on each segment.
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Fiber Cement Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.31% |
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Market growth 2021-2025 |
$ 4.77 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
4.90 |
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Regional analysis |
APAC, North America, Europe, South America, and MEA |
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Performing market contribution |
APAC at 43% |
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Key consumer countries |
US, China, Germany, India, Canada, and UK |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Cembrit Holding AS, Compagnie de Saint-Gobain SA, Etex NV, Everest Industries Ltd., Hume Cemboard Industries Sdn Bhd., James Hardie Building Products Inc., Mahaphant Fiber Cement Pvt. Ltd., Siam Cement PCL, Toray Industries Inc., and Visaka Industries Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this Fiber Cement Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive fiber cement market growth during the next five years
- Precise estimation of the fiber cement market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the fiber cement industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of fiber cement market vendors
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