The fiber cement market size has grown strongly in recent years. It will grow from $16.3 billion in 2023 to $17.43 billion in 2024 at a compound annual growth rate (CAGR) of 6.9%. The growth observed in the historical period can be attributed to factors such as the impact of industrialization, market penetration in developed regions, regulatory support and standards, the construction boom, and advancements in architectural evolution.
The fiber cement market size is expected to see strong growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to factors such as the cost-effectiveness and longevity of construction materials, increasing consumer awareness and preferences, the demand for weather resistance and durability, growth in residential and commercial construction activities, and the influence of government regulations and policies. Major trends expected in the forecast period include urbanization and infrastructure development, a rise in construction activities, a shift towards sustainable building materials, a continued emphasis on weather resistance and durability, and the impact of architectural trends and aesthetics on the construction materials industry.
The growth of the fiber cement market is expected to be propelled by the increasing expenditure on construction. As the construction industry expands, there is a rising trend in the use of high-efficiency and sustainable fiber cement for the exteriors of both residential and commercial spaces. Fiber cement is valued for its characteristics, including resistance to wear and tear, making it an appealing choice for construction projects. For instance, data from the Office of National Statistics in the UK reveals a 3.5% increase in the volume of monthly construction output in November 2021. Additionally, according to Invest India, a national investment promotion and facilitation agency based in India, the construction industry in India is anticipated to reach $1.4 trillion by 2025. This surge in construction expenditure is a key driver behind the growth of the fiber cement market, as the demand for durable and sustainable building materials continues to rise in tandem with the expansion of the construction sector globally.
The anticipated growth of the fiber cement market is expected to be propelled by increasing urbanization. Urbanization, the process of population migration from rural to urban or metropolitan areas, results in the expansion and development of cities. This urban growth creates a demand for housing and infrastructure, driving the need for fiber cement in various applications such as roofing, urban housing renovations, and more. For example, in April 2023, The World Bank, an international financial organization based in the United States, reported that approximately 56% of the global population resides in urban areas. The urban population is projected to grow by 1.5 times, reaching 6 billion by the year 2045. As urbanization continues, the demand for construction materials such as fiber cement is expected to rise, contributing to the growth of the fiber cement market. This trend is driven by the ongoing need for durable and versatile materials in urban development and infrastructure projects.
Technological advancements represent a prominent trend gaining traction in the fiber cement market. Manufacturers in the fiber cement industry are actively engaged in the development of new products incorporating the latest technologies to meet the diverse demands of customers across various sectors. For example, in October 2021, Jogani Impex LLP, an India-based engineered fiber manufacturing company, introduced Polyfiber 3S. Polyfiber 3S is an innovative concrete and construction fiber comprising advanced reinforcing materials. This product is designed to enhance durability and prevent cracks in the construction of buildings, offices, and industrial plants. By leveraging advanced technologies, companies such as Jogani Impex LLP are contributing to the evolution of fiber cement products, offering solutions that align with contemporary construction needs and quality standards.
Major companies in the fiber cement market are actively focusing on developing innovative solutions, particularly in the form of architectural product collections. These collections encompass curated sets or groups of building materials, finishes, or components provided by manufacturers or suppliers to architects, designers, and construction professionals. For example, in February 2022, James Hardie Industries PLC, an Ireland-based fiber cement products manufacturing company, announced the launch of the 'Hardie Architectural Collection.' This collection represents a contemporary and unified solution that includes fiber cement panels and metal trims. The Hardie Architectural Panels, crafted with Hardie fiber cement technology, offer superior home protection, non-combustibility, and low maintenance features. By introducing such architectural product collections, companies such as James Hardie Industries aim to provide comprehensive and modern solutions to meet the evolving needs of the construction and design industry.
In November 2021, Lonsa Group Limited, a Mauritian investment entity based in London, successfully acquired Everite, a South Africa-based company specializing in the production and distribution of fiber cement. The deal was valued at RUB 600 million ($9.5 million). Through this acquisition, Lonsa Group Limited gained control over Everite Group's businesses, assets, and affiliated companies, including the third-party ownership of freehold property.
Major companies operating in the fiber cement market report are Wellpool Co. Ltd., SCG Building Materials, Everest Industries Limited, James Hardie Industries PLC, Shandong Shanshui Cement Group Ltd., CSR Limited, Plycem USA Inc., GAF Materials Corporation, Perlite Construction Co. Ltd., Elementia Materiales, Nichiha Corporation, Century Plyboards Ltd., Cembrit Holding A/S, Swisspearl Group AG, Visaka Industries Limited, Hume Cemboard Industries Sdn Bhd, Hekim Yapı A.Ş., Bison Manufacturing Limited, Taisyou International Business Co. Ltd., Allura, Etex Group, Mahaphan Fibre Cement Public Co. Ltd., Shera Public Company Limited, Alpha Roofing industries LLC, Aerocon Corporation, Soben International (Europe) Ltd., EQUITONE, American Fiber Cement Corporation, Hocreboard Building Materials Co. Ltd.
Asia-Pacific was the largest region in the fiber cement market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber cement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fiber cement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The various types of raw material-based fiber cement include cellulosic fiber, Portland cement, and silica. Portland fiber cement, specifically, is a product in the market that involves the sale of a paste created with water, binding sand and rock to harden. This type of fiber cement is extensively used in precast concrete manufacturing and plays a significant role in the construction industry. Fiber cement, including the Portland variant, finds applications in the construction of various elements such as sidings, roofing, cladding, molding, trimming, and more. The end users of fiber cement products encompass both residential and non-residential customers. The versatility and durability of fiber cement make it a popular choice in construction for a range of applications.
The fiber cement market research report is one of a series of new reports that provides fiber cement market statistics, including fiber cement industry global market size, regional shares, competitors with a fiber cement market share, detailed fiber cement market segments, market trends and opportunities, and any further data you may need to thrive in the fiber cement industry. This market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fiber cement market consists of sales of sand, clay, and wood fibers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The fiber cement market size is expected to see strong growth in the next few years. It will grow to $21.98 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth in the forecast period can be attributed to factors such as the cost-effectiveness and longevity of construction materials, increasing consumer awareness and preferences, the demand for weather resistance and durability, growth in residential and commercial construction activities, and the influence of government regulations and policies. Major trends expected in the forecast period include urbanization and infrastructure development, a rise in construction activities, a shift towards sustainable building materials, a continued emphasis on weather resistance and durability, and the impact of architectural trends and aesthetics on the construction materials industry.
The growth of the fiber cement market is expected to be propelled by the increasing expenditure on construction. As the construction industry expands, there is a rising trend in the use of high-efficiency and sustainable fiber cement for the exteriors of both residential and commercial spaces. Fiber cement is valued for its characteristics, including resistance to wear and tear, making it an appealing choice for construction projects. For instance, data from the Office of National Statistics in the UK reveals a 3.5% increase in the volume of monthly construction output in November 2021. Additionally, according to Invest India, a national investment promotion and facilitation agency based in India, the construction industry in India is anticipated to reach $1.4 trillion by 2025. This surge in construction expenditure is a key driver behind the growth of the fiber cement market, as the demand for durable and sustainable building materials continues to rise in tandem with the expansion of the construction sector globally.
The anticipated growth of the fiber cement market is expected to be propelled by increasing urbanization. Urbanization, the process of population migration from rural to urban or metropolitan areas, results in the expansion and development of cities. This urban growth creates a demand for housing and infrastructure, driving the need for fiber cement in various applications such as roofing, urban housing renovations, and more. For example, in April 2023, The World Bank, an international financial organization based in the United States, reported that approximately 56% of the global population resides in urban areas. The urban population is projected to grow by 1.5 times, reaching 6 billion by the year 2045. As urbanization continues, the demand for construction materials such as fiber cement is expected to rise, contributing to the growth of the fiber cement market. This trend is driven by the ongoing need for durable and versatile materials in urban development and infrastructure projects.
Technological advancements represent a prominent trend gaining traction in the fiber cement market. Manufacturers in the fiber cement industry are actively engaged in the development of new products incorporating the latest technologies to meet the diverse demands of customers across various sectors. For example, in October 2021, Jogani Impex LLP, an India-based engineered fiber manufacturing company, introduced Polyfiber 3S. Polyfiber 3S is an innovative concrete and construction fiber comprising advanced reinforcing materials. This product is designed to enhance durability and prevent cracks in the construction of buildings, offices, and industrial plants. By leveraging advanced technologies, companies such as Jogani Impex LLP are contributing to the evolution of fiber cement products, offering solutions that align with contemporary construction needs and quality standards.
Major companies in the fiber cement market are actively focusing on developing innovative solutions, particularly in the form of architectural product collections. These collections encompass curated sets or groups of building materials, finishes, or components provided by manufacturers or suppliers to architects, designers, and construction professionals. For example, in February 2022, James Hardie Industries PLC, an Ireland-based fiber cement products manufacturing company, announced the launch of the 'Hardie Architectural Collection.' This collection represents a contemporary and unified solution that includes fiber cement panels and metal trims. The Hardie Architectural Panels, crafted with Hardie fiber cement technology, offer superior home protection, non-combustibility, and low maintenance features. By introducing such architectural product collections, companies such as James Hardie Industries aim to provide comprehensive and modern solutions to meet the evolving needs of the construction and design industry.
In November 2021, Lonsa Group Limited, a Mauritian investment entity based in London, successfully acquired Everite, a South Africa-based company specializing in the production and distribution of fiber cement. The deal was valued at RUB 600 million ($9.5 million). Through this acquisition, Lonsa Group Limited gained control over Everite Group's businesses, assets, and affiliated companies, including the third-party ownership of freehold property.
Major companies operating in the fiber cement market report are Wellpool Co. Ltd., SCG Building Materials, Everest Industries Limited, James Hardie Industries PLC, Shandong Shanshui Cement Group Ltd., CSR Limited, Plycem USA Inc., GAF Materials Corporation, Perlite Construction Co. Ltd., Elementia Materiales, Nichiha Corporation, Century Plyboards Ltd., Cembrit Holding A/S, Swisspearl Group AG, Visaka Industries Limited, Hume Cemboard Industries Sdn Bhd, Hekim Yapı A.Ş., Bison Manufacturing Limited, Taisyou International Business Co. Ltd., Allura, Etex Group, Mahaphan Fibre Cement Public Co. Ltd., Shera Public Company Limited, Alpha Roofing industries LLC, Aerocon Corporation, Soben International (Europe) Ltd., EQUITONE, American Fiber Cement Corporation, Hocreboard Building Materials Co. Ltd.
Asia-Pacific was the largest region in the fiber cement market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the fiber cement market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the fiber cement market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The various types of raw material-based fiber cement include cellulosic fiber, Portland cement, and silica. Portland fiber cement, specifically, is a product in the market that involves the sale of a paste created with water, binding sand and rock to harden. This type of fiber cement is extensively used in precast concrete manufacturing and plays a significant role in the construction industry. Fiber cement, including the Portland variant, finds applications in the construction of various elements such as sidings, roofing, cladding, molding, trimming, and more. The end users of fiber cement products encompass both residential and non-residential customers. The versatility and durability of fiber cement make it a popular choice in construction for a range of applications.
The fiber cement market research report is one of a series of new reports that provides fiber cement market statistics, including fiber cement industry global market size, regional shares, competitors with a fiber cement market share, detailed fiber cement market segments, market trends and opportunities, and any further data you may need to thrive in the fiber cement industry. This market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The fiber cement market consists of sales of sand, clay, and wood fibers. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Table of Contents
1. Executive Summary2. Fiber Cement Market Characteristics3. Fiber Cement Market Trends and Strategies32. Global Fiber Cement Market Competitive Benchmarking33. Global Fiber Cement Market Competitive Dashboard34. Key Mergers and Acquisitions in the Fiber Cement Market
4. Fiber Cement Market - Macro Economic Scenario
5. Global Fiber Cement Market Size and Growth
6. Fiber Cement Market Segmentation
7. Fiber Cement Market Regional and Country Analysis
8. Asia-Pacific Fiber Cement Market
9. China Fiber Cement Market
10. India Fiber Cement Market
11. Japan Fiber Cement Market
12. Australia Fiber Cement Market
13. Indonesia Fiber Cement Market
14. South Korea Fiber Cement Market
15. Western Europe Fiber Cement Market
16. UK Fiber Cement Market
17. Germany Fiber Cement Market
18. France Fiber Cement Market
19. Italy Fiber Cement Market
20. Spain Fiber Cement Market
21. Eastern Europe Fiber Cement Market
22. Russia Fiber Cement Market
23. North America Fiber Cement Market
24. USA Fiber Cement Market
25. Canada Fiber Cement Market
26. South America Fiber Cement Market
27. Brazil Fiber Cement Market
28. Middle East Fiber Cement Market
29. Africa Fiber Cement Market
30. Fiber Cement Market Competitive Landscape and Company Profiles
31. Fiber Cement Market Other Major and Innovative Companies
35. Fiber Cement Market Future Outlook and Potential Analysis
36. Appendix
Executive Summary
Fiber Cement Global Market Report 2024 provides strategists, marketers and senior management with the critical information they need to assess the market.This report focuses on fiber cement market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Reasons to Purchase
- Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
- Understand how the market has been affected by the coronavirus and how it is responding as the impact of the virus abates.
- Assess the Russia-Ukraine war’s impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
- Measure the impact of high global inflation on market growth.
- Create regional and country strategies on the basis of local data and analysis.
- Identify growth segments for investment.
- Outperform competitors using forecast data and the drivers and trends shaping the market.
- Understand customers based on the latest market shares.
- Benchmark performance against key competitors.
- Suitable for supporting your internal and external presentations with reliable high quality data and analysis.
- Report will be updated with the latest data and delivered to you with an Excel data sheet for easy data extraction and analysis.
- All data from the report will also be delivered in an excel dashboard format.
Where is the largest and fastest growing market for fiber cement? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? This report answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
- The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
- The impact of higher inflation in many countries and the resulting spike in interest rates.
- The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Report Scope
Markets Covered:1) By Raw Material: Cellulosic Fiber; Portland Cement; Silica
2) By Application: Siding; Roofing; Cladding; Molding and Trimming; Other Applications
3) By End-user: Residential; Non-Residential
Key Companies Mentioned: Wellpool Co. Ltd.; SCG Building Materials; Everest Industries Limited; James Hardie Industries PLC; Shandong Shanshui Cement Group Ltd.
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes
Delivery Format: PDF, Word and Excel Data Dashboard
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Wellpool Co. Ltd.
- SCG Building Materials
- Everest Industries Limited
- James Hardie Industries PLC
- Shandong Shanshui Cement Group Ltd.
- CSR Limited
- Plycem USA Inc.
- GAF Materials Corporation
- Perlite Construction Co. Ltd.
- Elementia Materiales
- Nichiha Corporation
- Century Plyboards Ltd.
- Cembrit Holding A/S
- Swisspearl Group AG
- Visaka Industries Limited
- Hume Cemboard Industries Sdn Bhd
- Hekim Yapı A.Ş.
- Bison Manufacturing Limited
- Taisyou International Business Co. Ltd.
- Allura
- Etex Group
- Mahaphan Fibre Cement Public Co. Ltd.
- Shera Public Company Limited
- Alpha Roofing industries LLC
- Aerocon Corporation
- Soben International (Europe) Ltd.
- EQUITONE
- American Fiber Cement Corporation
- Hocreboard Building Materials Co. Ltd.
Methodology
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