How large is the fiber cement market, and what is its growth trajectory?
The fiber cement market size has grown strongly in recent years. It will grow from $17.18 billion in 2024 to $18.29 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to industrialization’s impact, market penetration in developed regions, regulatory support and standards, construction boom, architectural evolution.
The fiber cement market size is expected to see strong growth in the next few years. It will grow to $23.3 billion in 2029 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to cost-effectiveness and longevity, consumer awareness and preferences, weather resistance and durability, residential and commercial construction, government regulations and policies. Major trends in the forecast period include urbanization and infrastructure development, rising construction activities, shift towards sustainable building materials, weather resistance and durability, architectural trends and aesthetics.
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What have been the primary factors driving the fiber cement market’s growth?
Increasing expenditure on construction is expected to propel the growth of the fiber cement market. With the increase in the construction industry, the use of high efficiency and sustainable fiber cement affixes has increased. It is used for exterior of both residential and commercial spaces due to its characteristics that include resistance to wear and tear to concrete along with benefiting the residential space has increased. For instance, in October 2024, according to United States Census Bureau, a US-based Government agency, in August 2024, construction spending reached $2,147.4 billion, marking a 4.1% increase from the August 2023 estimate of $2,047.4 billion, while total construction spending for the first eight months of 2024 amounted to $1,428.5 billion, reflecting a 7.6% increase compared to $1,327.0 billion during the same period in 2023. Therefore, increasing expenditure on construction is driving the growth of the fiber cement market.
What are the key segments within the fiber cement market?
The fiber cement market covered in this report is segmented –
1) By Raw Material: Cellulosic Fiber, Portland Cement, Silica
2) By Application: Siding, Roofing, Cladding, Molding And Trimming, Other Applications
3) By End User: Residential, Non-Residential
Subsegments:
1) By Cellulosic Fiber: Wood Pulp, Recycled Paper, Other Natural Fibers
2) By Portland Cement: Ordinary Portland Cement (OPC), Blended Cement, Special Purpose Cement
3) By Silica: Amorphous Silica, Crystalline Silica, Fumed Silica
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Which key players are shaping the fiber cement market?
Major companies operating in the fiber cement market include SCG Building Materials, Everest Industries Limited, James Hardie Industries PLC, Shandong Shanshui Cement Group Ltd., CSR Limited, Plycem USA Inc., GAF Materials Corporation, Perlite Construction Co. Ltd., Elementia Materiales, Nichiha Corporation, Cembrit Holding A/S, Swisspearl Group AG, Visaka Industries Limited, Hume Cemboard Industries Sdn Bhd, Hekim Yapı A.Ş., Bison Manufacturing Limited, Taisyou International Business Co. Ltd., Allura, Etex Group, Mahaphan Fibre Cement Public Co. Ltd., Shera Public Company Limited, Alpha Roofing industries LLC, Aerocon Corporation, Soben International (Europe) Ltd., EQUITONE, American Fiber Cement Corporation, Hocreboard Building Materials Co. Ltd.
How will emerging trends drive the fiber cement market throughout the forecast period?
Major companies operating in the fiber cement market are focused on developing innovative technologies, such as reinforced fiber technology, to revolutionize the Indian cement market. Reinforced fibre technology involves incorporating fibrous materials into cement or concrete to enhance its mechanical properties, such as strength, durability, and crack resistance, while reducing permeability and improving overall performance. For instance, in August 2023, Nuvoco Vistas Corp. Ltd., an India-based cement company, has been granted a patent for its innovative ‘Fibre Reinforced Cement Composition,’ marketed as ‘Duraguard Microfiber Cement,’ which enhances bonding, crack resistance, and durability. Suitable for all construction stages, Duraguard Microfiber Cement aims to extend the lifespan of structures while reducing maintenance costs. Managing Director Jayakumar Krishnaswamy highlighted the company’s commitment to innovation and customer experience in the cement industry.
How do regional factors impact the fiber cement market, and which region is the largest contributor?
The countries covered in the fiber cement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Fiber Cement Market Report 2025 Offer?
The fiber cement market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Fiber cement refers to a type of composite of sand, portland concrete, and sustainable cellulose filaments that enhances the structural integrity of concrete by improving its overall strength, is made from reinforced cement, is used in homes and other commercial buildings, comes pre-painted or can be painted in any color, and offers strong, long-lasting, and low-maintenance.
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