Global Fiber Cement Market Insights: USD 19.1 billion in 2023, Evaluation for 2030, Showcasing a CAGR of 5.6% - MarkNtel Advisors
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Global Fiber Cement Market A Dive from USD 19.1 billion in 2023/by 2030 | MarkNtel Advisors
MarkNtel Advisors has recently released an all-encompassing report on Global Fiber Cement Market. The report thoroughly explores the present and future market scenarios, providing valuable insights into market size, share, and competitor segmentation. It also delivers an overview of manufacturers, regions, product categories, and application areas. This extensive research is designed to empower clients with the knowledge required to comprehend and capitalize on market trends for their business strategies.
Forecast 2030: Revealing Fiber Cement Market Insights and Analysis
The Global Fiber Cement Market size was valued at around USD 19.1 Billion in 2023 and is projected to grow at a CAGR of around 5.6% during the forecast period, i.e., 2024-30.
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Market Driver: Rising Prominence of Fiber Cement as an alternative to Asbestos in the Construction Industry?
One of the significant key drivers responsible for the expansion of the market includes the rising prominence of fiber cement in the construction industry. Undoubtedly, the product has plenty of benefits to offer to its end users, and the market is projected to follow the footprints of success during 2024-2030. The growth can be attributed to the ban imposed on asbestos cement products. The International Ban Asbestos Secretariat (IBAS) reports that over 60 countries have enacted complete bans on Asbestos due to its well-known health and safety risks.
Since they are often used for residential construction for rooftop extensions, storage rooms, cottages, farmhouses, site offices, and so on, manufacturers have turned their focus to fiber cement as an alternative to Asbestos, citing their functional similarity. Moreover, due to its extended life, versatility, and attractiveness, paired with its remarkable resistance to fire, weather, warping, and rotting, the product has gained popularity in the construction industry. Such tremendous factors are urging the market to expand exponentially during the projected period.
A Comprehensive Overview of Geographical Diversity:
the Global Fiber Cement Market expands across:
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Fiber Cement Market Segmentation Outline:
Competitive Outlook
James Hardie Industries PLC (Ireland), Allura (US), Cembrit Holding A/S (Denmark), Etex Group NV (Belgium), American Fiber Cement Corporation (US), Toray Industries Inc. (Japan), Nichiha (Japan), Cembrit Holding A/S (Denmark), CSR Limited (Australia), Elementia.
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