Portland, OR, Oct. 28, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global fiber cement board market garnered $9.7 billion in 2021, and is projected to reach $15.3 billion by 2031, growing at a CAGR of 4.7% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $9.7 billion |
| Market Size in 2031 | $15.3 billion |
| CAGR | 4.7% |
| No. of Pages in Report | 270 |
| Segments covered | Product Type, Application, and Region. |
| Drivers | Fiber cement boards can be easily transported and require minimal labor use Fiber cement boards are environmentally friendly and do not contain toxic elements as compared to mortar and bricks Fiber cement boards are moisture and weather resistant Fiber cement board cladding adds aesthetic look to the building and also helps to protect exterior building skin structure and interior products against wind and other climatic conditions. |
| Opportunities | Rise in usage of fiber cement boards in the construction industry |
| Restraints | Availability of substitute products such as vinyl sidings, wood sidings, and wood-based composites |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global fiber cement board market, owing to its dependence on the construction sector.
- The implementation of global lockdown led to the postponement of a lot of construction projects, which in turn, reduced the demand for fiber cement boards.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- However, in the post-pandemic, the emerging geographic scenarios, enhanced domestic supply chain, and strong public investments are projected to drive the growth of fiber cement boards market. For instance, according to an interim report for the 2021 Australian infrastructure plan, the Australian Construction Industry Forum (ACIF) expects the construction industry to return to pre-COVID-19 levels by 2022-23, driven by strong public investments. This is projected to boost the growth of the fiber cement boards market post-COVID-19 period.
The research provides detailed segmentation of the global fiber cement board market based on product type, application, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on product type, the Medium density fiber cement board segment held the highest share in 2021, accounting for nearly half of the global fiber cement board market, and is expected to continue its leadership status during the forecast period. However, the High density fiber cement board segment is expected to register the highest CAGR of 5.1% from 2022 to 2031.
Based on application, the Wall cladding and panels segment accounted for the highest share in 2021, contributing to around two-fifths of the global fiber cement board market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the Flooring segment is expected to manifest the highest CAGR of 5.1% from 2022 to 2031.
Based on region, North America held the largest share in 2021, contributing to more than one-third of the total fiber cement board market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the Asia-Pacific region is expected to manifest the fastest CAGR of 5.3% during the forecast period. The research also analyzes regions including Europe and LAMEA.
Leading market players of the global fiber cement board market analyzed in the research include Beijing Hocreboard Building Materials Co. Ltd. (HBD), HIL Limited, Century Plyboards (India) Limited, Everest Industries Limited, Saint Gobain, Sahyadri Industries Limited (SIL), Toray Industries Inc., Visaka Industries, REXLER, Sarex.
The report provides a detailed analysis of these key players of the global fiber cement board market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
