Steady Growth Forecasted for Fiber Cement Board Market, Reaching US$ 16,890.0 Million by 2033

 

The global fiber cement board market value is likely to jump from US$ 10,980.6 million in 2023 to US$ 16,890 million by 2033. This estimated growth is expected to be driven by a steady CAGR of 4.4% in the global fiber cement board market over the next decade.

Increasing demand for high-performing fiber cement board building solutions in the construction industry is fueling the market growth. Their adoption is also driven by their ability to reduce construction costs, as they are easy to transport and require minimal effort by labor.

Get Ahead with Our Report: Request Your Sample Now:
https://www.futuremarketinsights.com/reports/sample/rep-gb-10369

Sales of fiber cement boards are predicted to flourish in developing economies as investment in the construction of housing projects surges. Emerging new projects including single- and multi-family housing are enhancing the scope of construction materials.

In India, the residential construction sector is expected to be supported by the Pradhan Mantri Awas Yojana-Urban (PMAY-U) “Housing for All” Mission that is predicted to continue till 31st December 2024.

The increasing concern of the Indian government to complete big infrastructure projects prior to the 2024 elections is also a key motivator of infrastructure construction in the country. Thus, creating significant opportunities for fiber cement board producers.

Development of the commercial sector that incorporates hospitality buildings, outdoor leisure facilities, retail buildings, office buildings, and other commercial buildings is another factor that is increasing prospects for the product. Apart from offices and other projects, the expansion of the tourism business is also expected to bring new avenues for construction.

“Soaring investments in housing and infrastructural projects, especially in developing countries, are creating multiple opportunities for the producers of construction materials like fiber cement board. With these emerging opportunities, key players are focusing on enhancing their product portfolio by taking into account the valuable insights from their customers. This strategy is predicted to give them leverage over their competitors,”- says FMI analyst.

Key Takeaways from the Fiber Cement Board Market Report:

  • In 2022, the fiber cement board market attained a value of US$ 10,520 million.
  • Based on end use, the commercial segment is expected to obtain a 32.10% market share in 2023.
  • Portland cement is predicted to acquire a market value of 78.10% in 2023.
  • China and India are assessed to expand at significant CAGRs of 5.1% and 5.3% through 2033.
  • Japan is predicted to exhibit a growth rate of 2.7% CAGR over the forecast period.
  • Germany and the United Kingdom are predicted to register CAGRs of 1.8% and 2%, respectively.
  • The United States market is projected to record a CAGR of 2.3% through 2033.

Developments Taking Place in the Fiber Cement Board Market

Key players in the market are offering innovative products to raise the bar higher for their competitors. For instance, Buildrite Construction Chemicals, a prominent construction chemical player in the Philippines, introduced eight new and inventive products at WorldBex 2023. Among these products is Tofil 807 and 808, which is a drywall finishing system that is equipped with anti-crack technology. This product is suggested for gypsum boards and fiber cement boards to eliminate the issue of cracking joints.

Active market participants are offering innovative fiber cement boards, consisting of a range of exterior and interior systems like throughwall systems, partitions, and ceilings. With such elaborate offerings, players are focusing their efforts on providing premium quality solutions offering long-lasting beauty and trusted protection.

  Key Players in the Fiber Cement Board Market

  • James Hardie Industries PLC
  • Etex Group NV
  • Cembrit
  • Mahaphant Fibre Cement Co., Ltd.
  • Elementia
  • S.A.B de C.V.
  • Everest Industries
  • Saint-Gobain
  • Hume Cemboard Industries
  • Nichiha Corporation
  • Soben board Everest

Key Segmentation

By Raw Material:

  • Portland cement
  • Silica

By Application:

  • Commercial Buildings
  • Residential Buildings

By End Use:

  • Residential
  • Commercial
  • Industrial

 

Comments

Post a Comment

Popular posts from this blog

Automotive Brake System & Components Industry – Driving Safety and Innovation

  The   automotive brake system and components industry   is estimated to reach a valuation of USD 69,403.5 million in 2023, with projections indicating growth to USD 109,862.1 million by 2033. The market is anticipated to achieve a notable CAGR of 4.7% over the forecast period. The automotive brake system and components industry is at the heart of vehicle safety and performance, continuously evolving to meet modern driving demands. With innovations in braking technology and increasing emphasis on vehicle safety standards, the industry is poised for robust growth. According to market insights, the demand for advanced brake systems and components is accelerating due to rising vehicle production, advancements in electrification, and stricter safety regulations globally. In-Depth Market Analysis:  A Complete Report Key Drivers of Growth Stringent Safety Regulations: Governments worldwide are enforcing stricter safety standards, mandating advanced braking systems such as...
Read more

Global Automotive Tire Market Expands with Surge in Vehicle Sales and Sustainable Mobility Solutions

  The global   automotive tire market   is poised for substantial growth, with its valuation expected to rise from USD 256.1 billion in 2025 to USD 471.7 billion by 2035, representing a compound annual growth rate (CAGR) of 6.3%. This growth is primarily driven by a significant increase in global vehicle production, including both passenger and commercial segments. Evolving consumer preferences for fuel-efficient, performance-oriented, and safer driving experiences are prompting tire manufacturers to focus on innovation in materials and design. The market is also benefiting from the surge in electric vehicles, which require specialized tire configurations to manage higher torque loads and ensure energy efficiency. Developing regions across Asia-Pacific, Latin America, and Africa are contributing heavily to demand growth due to ongoing industrialization, infrastructure development, and urbanization. Additionally, the rapid rise of e-commerce has boosted logistics and trans...
Read more

Valve Seat Inserts Market to Reach USD 9.8 Billion by 2035, Fueled by Emission Regulation & Automotive Production Growth

  The  valve seat inserts market  is likely to expand from USD 6.6 billion in 2025 to USD 9.8 billion by 2035. A CAGR of 3.9% is forecasted during this period. This expansion is driven by rising global automotive production, particularly in emerging markets, and increasingly stringent emission and fuel-efficiency regulations. The implementation of Euro 7 standards in Europe and the USA’s EPA Tier 3 norms has accelerated demand for high-precision inserts that enhance combustion efficiency and reduce pollutant output. As automakers aim to comply with increasingly aggressive carbon neutrality targets, precision engine components like valve seat inserts are essential for achieving optimal engine performance and reduced emissions. The automotive sector continues to be the dominant consumer of valve seat inserts, accounting for a significant share of market demand. These inserts play a crucial role in internal combustion engines by providing a durable sealing surface for intake...
Read more