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Global Fiber Cement Market to register high demand rate by 2024

Zion Market Research, the market research group announced the analysis report titled  ‘Fiber Cement Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024′

Global Fiber Cement Market: Overview

Fiber cement is also known as construction material or composite building material of wood fibers, Portland cement, water, and silica, which is used in construction activities. They possess superior properties such as high versatility, durability, thermal insulation, resistance to water, flexibility and high strength; hence, it is widely used in manufacturing roofing and façade products. Homeowners, professional builders, and contractors have preferred them to asbestos cement products. These products have low maintenance cost, hence, widely used in the trimming, siding, roofing, and other areas. Cement reacts with water and results in a hard stone formation. The presence of fiber reinforcement in cement makes it long lasting and strong construction material. Fiber cement decreases the commercial value and enhances performance. In addition, it offers advantages for construction products such as cladding and roofing.

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Global Fiber Cement Market: Growth Factors

Increasing demand for fiber cement from construction professionals due to product features is expected to boost the global fiber cement market in future. Rapid industrialization and growing construction activities globally are other key factors responsible for the growth of the global market. Fiber cement is highly demanded in the global market due to the high efficiency of fiber cement products and rapid urbanization & industrialization in developing countries further influencing the growth in the global fiber cement market. Further, ban on asbestos products and booming construction industry foster the global market growth. Moreover, increasing investments in infrastructure development and financial support from government agencies is expected to boost the overall fiber cement market growth. However, fiber cement is expected to face tough competition from other products in the market such as vinyl siding, which may hinder the growth of the global market.

Global Fiber Cement Market: Segmentation

The global fiber cement market is categorized based on end-user as non-residential sector and residential sector. Based on the application, the global market is classified as roofing, molding & trimming, countertops, siding, ceiling, and backerboards. Of these, siding application segment is the leading in the global market. Further, the global fiber cement market is divided based on raw materials as cellulosic fiber, Portland cement, silica, and others.

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Global Fiber Cement Market: Regional Analysis

Rapidly increasing construction activities in Asia Pacific contributed for the higher demand for fiber cement and is expected to maintain its dominance in the next few years. In addition, rising demand for fiber cement in developing economies such as North America and Europe owing to the turnaround of manufacturing industries and presence of stringent regulations is expected to show significant growth in the near future. The U.S. and Japan are considered the fastest growing markets for fiber cement and are expected to continue this growth trend in the near future. The residential sector is projected to grow rapidly in developing countries such as India, Canada, and China.

Global Fiber Cement Market: Competitive Players

Key players dominating the global fiber cement market are Elementia SA de CV, Akzo Nobel NV, Central Fiber LLC, Ecolab Incorporated, Building Materials Corporation of America, Imerys SA, and Hardie (James) Industries plc. Other players include Dow Chemical Company, PPG Industries Incorporated, Canfor Corporation, Mercer International Incorporated, and US Silica Holdings Incorporated.

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Global Fiber Cement Market by Regional Analysis: North America( U.S.), Europe( UK, France, Germany), Asia-Pacific (China, Japan, India), Latin America( Brazil), Middle East and Africa

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