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.
Get an Exclusive PDF Sample Copy of This Report at https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=186027265
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.
On the basis of the end-use, non-residential is projected to be the largest segment in the fiber cement market during the forecast period. With the increase in demand for non-residential construction activities, majorly in the industrial and agricultural sector, the fiber cement products is observing an increase in its demand.
Request Customized Report as Per Your Requirements at https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=186027265
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). These players have adopted various growth strategies, such as acquisitions, investments, and expansions, to increase their market shares and enhance their product portfolios.
Acquisitions accounted for the largest share of all the strategic developments that took place in the fiber cement market between 2016 and 2020. Key players such as James Hardie (Ireland), Toray Corporation (Japan), and Etex Corporation (Belgium) adopted these strategies to strengthen their business portfolios and presence in the fiber cement industry.
James Hardie’s strong global presence, coupled with the attractive portfolio of fiber cement, makes it a global player in the fiber cement market. Its expertise in fiber cement building materials, and significant investments in its plants and market development programs have contributed toward its significant position in the market. The adoption of strategic initiatives, e.g., acquisitions, has also contributed to the success of the company. For instance, the acquisition of Fermacell GmbH (Germany) enhanced its fiber cement business in the European market.
For any Queries Linked to the Report, Ask an Analyst at https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=186027265
Etex Group is considered to be one of the most popular companies in building construction in Europe and other regions. The company focuses on the manufacturing process of building products and is a global leader in offering dry and lightweight construction solutions. It provides a wide range of construction solutions to the multi-residential, industrial, as well as commercial sectors, and has worldwide operations. It operates across 42 countries through more than 90 subsidiaries and 113 factories worldwide. The company has 21 factories in America, 76 in Europe, 10 factories in Africa, and six in Asia.
About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 Micro Quadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/fiber-cement-market-186027265.html