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Global Fiber Cement Siding Industry Expected To Reach $6.2 Billion By 2028 – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Fiber Cement Linings Market Forecast to 2028 – Impact of COVID-19 and Global Analysis by Material, Type and End-User” report has been added to from ResearchAndMarkets.com offer.

Fiber Cement Siding Market was valued at USD 3,963.50 Million in 2021 and is projected to reach USD 6,229.51 Million by 2028; it is estimated to grow at a CAGR of 6.7% from 2021 to 2028.

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. Additionally, fiber cement siding is extremely weather resistant and can easily withstand extreme heat and humidity conditions. These advantages attract a number of builders or contractors as well as individual customers, which increases the sales of the product in all regions. This is thus catalyzing the fiber cement cladding market.

According to the International Energy Agency (IEA) 2020 report, the building or housing sectors derive additional benefits from increased public investment, as buildings have been the main target of government spending announcements. revival of energy efficiency to this day. Moreover, in a few regions, the scale of this investment could be large enough to significantly increase technical efficiency. For example, according to US News & World Report LP data from June 2020, the United States is now focusing on upgrading its infrastructure with the construction of energy efficient buildings.

US mayors, such as Concord, New Hampshire; Denton, TX; Denver, Colorado; Fayetteville, Arkansas; Minneapolis, Minnesota; and Norman, Oklahoma, are taking action on climate change. The measures supported by the federal government include several programs to retrofit existing buildings with better insulation and more efficient heating systems. Therefore, with emphasis on energy efficient buildings, the use of fiber cement cladding will continue to increase the construction of residential buildings around the world, which will lead to an increasing demand for energy efficient buildings in the world, thus creating new future opportunities for the fiber cement coatings market. players.

Impact of COVID-19 on Fiber Cement Linings Market Growth

APAC is characterized by many developing countries, with positive economic prospects, a strong residential and industrial presence, a huge population and increasing disposable income. All these factors make it a major contributor to the growth of the fiber cement coatings market. However, the prolonged lockdown periods due to the COVID-19 pandemic led to a sharp decline in the growth of the construction industry in the region in 2020, which affected the demand for fiber cement cladding. Several raw material suppliers halted their production activities in various countries during the initial phase of COVID-19 to prevent further spread of the disease. This halt in production led to reduced supplies in various Asian countries, including India and China. However, the easing of lockdown restrictions and ongoing vaccination processes are supporting the steady shipment of raw materials and industrial activities, which have driven the growth of the fiber cement coatings market in APAC in 2021.

Reasons to buy

  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Fiber Cement Coatings Market

  • Highlights key business priorities to help companies realign their business strategies.

  • The key findings and recommendations highlight crucial progressive industry trends in the Fiber Cement Coatings Market, thereby allowing players across the value chain to develop effective long term strategies.

  • Develop/modify business expansion plans using substantial growth offering in both developed and emerging markets.

  • Dig deep into the global market trends and outlook associated with the factors driving the market, as well as those hindering it.

  • Improve the decision-making process by understanding the strategies that drive business interest with respect to customer products, segmentation, pricing, and distribution.

  • Examine the political, economic, social and technological impact of the five regions, namely: North America, Europe, Asia-Pacific and the rest of the world.

Market dynamics

Drivers

  • Increase in residential and commercial construction activities

  • Low cost of fiber cement siding

Constraints

  • Many health issues associated with fiber cement siding installation

  • Durability and resilience of fiber cement siding

Opportunities

  • Growing Benefits of Fiber Cement Linings

Future trend

  • Increase in demand for energy efficient buildings

Companies cited

  • Cembrit Holding A/S

  • Limited CSR

  • Elementia SAB DECV

  • ETEX Group

  • GAF Material Corporation

  • James Hardie Industries Plc

  • Louisiana-Pacific Corporation

  • Nichiha Co.Ltd.

  • Toray Industries Inc.

For more information about this report, visit https://www.researchandmarkets.com/r/u5x212.