At 4.76% CAGR, the Fiber Cement Market is forecast to reach strong market growth through 2026

Fiber Cement Market Growth Forecast during 2020-2026

Fiber Cement Market Growth Forecast during 2020-2026

2020 Future of Global Fiber Cement Market, Size, Share and Trend Analysis Report to 2026- Growth Opportunities, Competition, Forecasts and industry Outlook

SOUTHLAKE, TX, UNITED STATES, December 5, 2019 / — Fiber Cement Market size is set to grow at a CAGR of 4.76% over the forecast period 2020-2026, finds OG Analysis. Rapid urbanization and industrialization along with the advancement in infrastructural materials contribute to the fiber cement market growth, finds Og Analysis.

Increasing acceptance of fiber cement by both residential and non-residential sectors owing to its high durability and low maintenance costs in sustainable building projects boosts the market value over the medium to long term.

Moreover, emerging design trends and aesthetic appeal requirements in residential and commercial buildings thrust the demand for the growth of the segment, fiber cement siding.

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Further, awareness for green construction material as well as prohibition of asbestos cement products offers key market growth opportunities across the fiber cement market players. Accordingly, market participants are focus on substantial manufacturing cycles and eco friendly raw materials.

Amidst key raw materials, silica, cellulosic fiber, and others, portland cement is observed to penetrate market growth with low-cost and ease in availability.

By market application, Fiber cement market growth forecast during 2020-2026

Siding to boost the market growth, by application, over the forecast period due to its superior intrinsic properties in comparison with wood or vinyl siding. Accordingly, the market share of siding is witnessed to reach records as the material has been increasingly specified for its durability, design versatility, and minimal maintenance requirements.

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Asia Pacific emerges with strong fiber cement Market growth, preceded by Americas and Europe over 2020-2026

Asia Pacific is set to hold the major fiber cement market share driven by vital investments in the construction industry for residential and commercial sectors. China is the largest construction market and positively impacts the market growth.

Furthermore, eastern regions prone to frequent occurrence of natural calamities thrust the market growth prospects driven by benefits of fiber cement as a resistant to fire and water.

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Whereas, green initiative across North America and Europe continues to boost the fiber cement market size. This effort for energy-efficient and green projects spurring across North America strengthens new fiber cement markets and business opportunities for manufacturers and utilities. Accordingly, Allura USA demonstrated fiber cement building materials value for sustainability by donating thousands of dollars worth of towards building a “healthy home”. Further, Europe has strong green building programs and the United Kingdom is reaching its goal of net zero-energy buildings and hence drives market growth and demand over the fiscal term.

Key policies in focus across leading players to boost fiber cement market growth during the forecast period

Growing interest of consumers in fiber cement boards, sheets, slates set to drive lucrative market opportunities for key manufacturers. Accordingly, market participants are launching awareness schemes for commercializing fiber cement products. For example, James Hardie Industries, in 2018, launched an ad campaign on fiber cement products to reach consumers and contractors.

Further, key market participants are capitalizing on market share by signing supplying contracts and construction projects. For instance, in 2019, Etex and Techo partner up for Corporate Social Responsibility (CSR) project for modular construction using Etex’s product portfolio. Similarly, recently Allura signed a national agreement with KB Home to serve as the homebuilder's exclusive supplier of exterior fiber cement siding products.

Lead market players in the fiber cement market include Rieder Smart Elements GmbH, Equitone, James Hardie, Allura, American Fiber Cement, Fry Reglet, Swiss Pearl, Nichiha USA, Etex Group NV, James Hardie Industries PLC, Evonik Industries AG, Compagnie de Saint Gobain SA, and Toray Industries Inc.,

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Source: EIN Presswire