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Fiber Cement Siding Market to Reach $6.229.51 Billion Globally by 2028 at a CAGR of 6.7%: The Insight Partners

Fiber cement coating

Growing advantages of fiber cement coatings to create lucrative opportunities for fiber cement coatings market during the period 2021-2028

PUNE, INDIA, Jan. 20, 2022 /EINPresswire.com/ — The residential sector accounted for 44% of total global construction in 2020, making it the largest sub-sector and a key driver of the global fiber cement flooring market . For example, the commissioning of housing in Russia in the first five months of 2021 increased by 28.4% compared to the previous year, according to the Russian News Agency in July 2021. This growth is due to the surge in demand for homes due to record low interest rates, improved prospects for sustained job growth and government programs. In addition, several government initiatives have also been observed to help the housing industry. For example, according to Yonhap News Agency website data from February 2021, the South Korean government announced that it would ease building regulations and support redevelopment projects in urban areas to increase the number of new homes up to 836,000 nationwide. The latest housing policy focuses on increasing 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. Thus, the increase in commercial and residential housing construction and several government initiatives in housing construction are influencing the growth of the fiber cement siding market size.

Fiber cement siding offers multiple opportunities for builders, contractors and owners in terms of attracting customers, generating revenue and helping to expand their business globally. Fiber cement siding offers a better exterior look of the home at an affordable price compared to its alternatives and is also fire and heat resistant. Fiber cement has a flame spread rating of 0, which is similar to a brick. In addition, fiber cement siding is highly weather resistant and can easily withstand extreme heat and humidity conditions.

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Strategic insights

Report Cover Details
Market size value in US$3,963.50 million in 2021
Market size value of US$6,229.51 million by 2028
CAGR growth rate of 6.7% from 2021 to 2028
Forecast period 2021-2028
Base year 2021
Number of pages 136
No. Tables 68
Number of graphs and figures 69
Historical data available Yes
Segments Covered Material, Type and End User
Regional scope North America; Europe; Asia Pacific; Latin America; AEM
Countries Covered USA, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Coverage Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends

On the basis of materials, the fiber cement coatings market is segmented into portland cement, silica, cellulosic fiber and others. In 2021, Portland cement segment led the market and accounted for the largest market share. Based on type, the market is segmented into clapboard, shingles, and stone or stucco. In 2021, the clapboard segment led the market and accounted for the largest market share. Based on end user, the market is segmented into residential and commercial. In 2021, the residential segment led the market and accounted for a larger market share. Geographically, the market is segmented into North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM). In 2021, North America accounted for a major share of the global fiber cement siding market.

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On the basis of materials, the fiber cement coatings market is segmented into portland cement, silica, cellulosic fiber and others. The portland segment dominated the fiber cement coatings market in 2021. Portland cement is the most common cement composed of limestone, iron and clay. It is the main ingredient in fiber cement siding. It is a fine powder produced by heating limestone and clay minerals in a kiln to form a clinker, grinding the clinker and adding 2-3% gypsum. Several types of Portland cement are available. The most common, called ordinary portland cement (OPC), is gray; however, white Portland cement is also available.

North America is one of the largest markets for fiber cement siding due to the presence of a large number of manufacturers and increased demand from end users. Moreover, due to the implementation of government policies, the stimulation of innovation, the presence of a huge industrial base and the high purchasing power of people and companies, especially in developed countries such as the United States and Canada, contribute to the growth of the market. For example, the Canadian construction industry is growing in a few major cities, such as Toronto and Vancouver. In these cities, developers are making good profits on investments, mainly with high-density residential projects. In 2020, limited labor availability, shortage of materials and supplies, reduction in productivity rates, and suspension and cancellation of projects/contracts hampered the growth of the fiber cement lining market.

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In addition, according to data from the International Energy Agency (IEA), estimated that cement production will increase by 12-23% by 2050 to meet the needs of the growing world population. The demand for Portland cement is consistently higher among fiber cement liner manufacturers, owing to the advantages such as light weight, cost effectiveness, and incombustible nature. Thus, the segment holds the largest share in the global fiber cement siding market.

Major players operating in the global fiber cement lining market include Allure; Cembrit Holding A/S; CSR LIMITED; ETEX GROUP; WAG; James Hardie Industries plc; NICHIHA Co., Ltd; TORAY INDUSTRIES, INC. ; and SHERA Public Company Limited. Several other market players have been analyzed to understand the market.

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Samir Joshi
Insight Partners
96661 11581
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