The report "Fiber Cement Market by Material (Portland Cement,, Application (Siding, Molding & Trim, Backer boards, Flooring, Roofing, Wall Partitions), End use (Residential, Non-residential) and Region - Global Forecast To 2025", The globalfiber cement market size is projected to grow from USD 16.4billion in 2020 to USD 20.3 billion by 2025, at a CAGR of 4.4% from 2020 to 2025. 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 CAGR of 4.4% from 2020 to 2025. The market is projected to grow in accordance with the growth of the residential and non-residential sector across the globe. Fiber cement products are known for their properties, such as high strength, durability, fire-proof, and resistance to deterioration from salt or UV rays. These properties of fiber cement products increase their preference in a wide range of applications.
Non-residential, by end-use, accounted for the most significant demand for fiber cement in 2019, in terms of value and volume. This is primarily due to favorable and lenient lending policies initiated by governments across the world, which is driving the growth of non-residential construction projects. The residential construction spending is estimated to increase, particularly in emerging regions, including Asia Pacific and Latin America. Rapid urbanization is observed in these regions, resulting in a higher growth rate of the residential sector than that of developed regions.
The APAC region is projected to lead the fiber cement market, in terms of both value and volume from 2020 to 2025. The countries in this region is expected to achieve high growth in the construction sector, and in turn, triggering a huge demand for fiber cement products. Growing construction sector, particularly in rapidly-growing countries such as China and India, huge foreign investments, and growing awareness about the ill-effects of using asbestos, drive the demand for fiber cement products.
R Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), and CSR Limited (Australia), are the key players operating in the fiber cement market.
