Fiber cement is a building material used to cover the exterior materials used in the construction of residential and non-residential buildings and is produced using three primary components, namely, Portland cement, silica, and cellulose fiber. The global fiber cement market size is projected to grow from USD 16.4 billion in 2020 to USD 20.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast year. The growth of this market is attributed to the increasing construction activities in the residential and non-residential sectors and government regulations pertaining to the use of asbestos.
The fiber cement market is classified, on the basis of application, into siding, roofing, molding and trim, wall partitions, flooring, backer boards, and others. Others include ceilings, countertops, and interior wall cladding. Molding & trim is projected to register the fastest growth in the fiber cement market during the forecast period. Molding and trim involves the creation of an aesthetic vertical accent between fiber cement panels. Trim is a general term used to describe the materials used around openings such as windows or doors, at the corner walls and ceilings, or floor intersections. Trim can also be applied on wall surfaces, for example, a chair rail or wainscoting. Molding is a type of trim, which can be characterized by its enhanced profile. Typically molding is more decorative and elaborate in detail.
The fiber cement market has been dominated by large players, such as the Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), CSR Limited (Australia), and Nichiha Corporation (Japan).
