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Fiber Cement Market Growth, Development, and Opportunities

fiber cement market

Global Fiber Cement Market was valued at 17.1 Billion US$ in 2021 and it is projected to reach 24.9 Billion US$ by 2031, at a CAGR of 3.8% during the forecast period.

New York, according to a new market research report published by Global Insight Services, the fiber cement market is expected to reach US$XX billion by 2031. The report includes in-depth segmentation and market size data by categories , product types, applications and geographies. The report also includes a comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, and recent events such as merger and acquisition activities in the market.

fiber cement [also known as Fiber Reinforced Cement (FRC)] is a versatile building material. Fiber cement consists of a few simple ingredients, including Portland cement, cellulose fibers, sand, and water. However, the composition may change depending on the manufacturer. Fiber cement is durable and offers excellent overall value. Typically, it costs less than brick, synthetic stucco, and some wood siding options. It is usually as or less expensive than hardboard or composite siding and more expensive than vinyl. Fiber cement is commonly used in several sectors of construction, industrial, agricultural, domestic and residential buildings. Moreover, it is mainly used for roofing and cladding applications in the construction industry. Moreover, it is rapidly replacing conventional cement in these areas, paving the way for manufacturers, investors, and market growth.

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Market drivers and trends

An increase in global residential construction acts as a key driver for the global fiber cement market. For example, according to the Russian News Agency, in July 2021, the commissioning of housing in Russia in the first 5 months of 2021 increased by more than 28% compared to 2020. This growth is attributed to the increased demand for housing due to improved outlook. for sustained job growth, historically low interest rates and government programs. Moreover, various government initiatives have also been observed to help the housing industry. For example, the South Korean government has taken an initiative to ease building regulations and support redevelopment projects in urban areas to increase the number of new homes to 836,000 across the country. , according to data from the Yonhap News Agency website from February. 2021. In addition, the latest housing policy focuses on growing housing supply in the Seoul metropolitan area and other major cities to stabilize housing crises. This construction activity will drive the growth of residential and commercial buildings in the country. Therefore, the growth of commercial and residential housing constructions and several government initiatives in housing construction are influencing the requirement for fiber cement siding, a durable and low maintenance material commonly used to cover the exterior of residential homes and , in some cases also used in commercial buildings.

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Market constraints and challenges

Alternatives to fiber cement siding act as a restraining factor for the fiber cement market. For example, vinyl, wood, and steel are all popular siding materials and alternative options to fiber cement siding. Additionally, vinyl siding is a popular choice due to its wide range of styles and costs. Second, wood siding is commonly used in custom homes because it is expensive, requires regular maintenance, and is susceptible to insects. Third, steel siding is widely used as an alternative to fiber cement siding in industrial and commercial buildings and residential siding. Thus, alternatives to fiber cement siding act as a restraining factor for the fiber cement market.

Segmental overview of the global fiber cement market
The report analyzes the global fiber cement market based on material, application, end user and region.

Global fiber cement market by material

Based on material, it is segmented into Portland cement, sand, cellulosic (fiber) material and others. The Portland cement segment is expected to dominate the market over the forecast period. The market growth of this segment is increasing faster as Portland cement is a type of cement widely used for making concrete and mortar. The main chemical constituents of Portland cement are silica, calcium, alumina and iron. It is a reasonably priced and readily available material, making it one of the most widely used building materials in the world. Thus, numerous advantages of the Portland cement segment are driving the growth of the market.

Key players in the global fiber cement market

The major players studied in the global fiber cement market are Cembrit Holding A/S (Denmark), CSR Limited (Australia), Elementia (Mexico), Etex Group (Belgium), GAF Materials LLC (USA), James Hardie Industries plc (Ireland). ), Louisiana-Pacific Corporation (USA), Nichiha Corporation (Japan), Toray Industries, Inc. (Japan) and Beijing Hocreboard Building Materials Co. Ltd. (China).

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Reasons to Buy Fiber Cement Market Report:

• Develop a comprehensive understanding of the market landscape – industry structure, value chain, key players, trends, drivers and challenges
• Drive revenue and market entry strategy by gaining insights into the most important and fastest growing segments and geographies
• Formulate sales and marketing strategies by gaining an understanding of competitors, their positioning and their strengths and weaknesses
• Develop business and M&A strategies by understanding the latest trends and emerging market players
• Refine your business plans by understanding the impact of disruptions such as Covid-19 and the Russian-Ukrainian conflict on the market

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Global Insight Services (GIS) is a leading multi-industry market research company headquartered in Delaware, USA. We are committed to providing our clients with the highest quality data, analysis and tools to meet all of their market research needs. With GIS, you can be assured of quality deliverables, a robust and transparent research methodology, and superior service.

This press release was published on openPR.