Fiber Cement Market is projected to grow 17.38 Billion USD by 2021 The market for "Fiber Cement" is growing due to growth in the construction industry and stringent regulations regarding the use of asbestos cement. Rising per capita income of the middle class has increased its purchasing power, which has resulted in an increase in the number of new constructions.
Based on application, siding held the largest share. This is because fiber cement siding does not require maintenance and is impervious to degradation. Fiber cement siding also improves the aesthetic appeal of the buildings.The market for fiber cement was valued at USD 13.20 Billion in 2015. It is projected to grow at a CAGR of 4.80% between 2016 and 2021. The base year considered for the study is 2015.
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On the basis of key regions, the market for fiber cement is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Asia-Pacific is projected to grow at the highest rate from 2016 to 2021, because the countries in this region are expected to achieve high growth in the construction sector, thus triggering a huge demand for fiber cement.
Growht Drivers: •
Growing Construction and Other Infrastructure Activities
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Advantages of Fiber Cement Over Alternatives
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Regulations Against the Use of Asbestos
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Target audience: •
Raw material suppliers and producers
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Regulatory bodies
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Fiber cement distributors/suppliers
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End users (builders, contractors)
Market By Application: •
Molding & trim
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Siding
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Roofing
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Others
The fiber cement market is segmented on the basis of material, application, end-use, and region. On the basis of material, Portland cement, which is the most widely used type of cement used for making concrete and mortar, held the largest market share. It is a low-cost material and is readily available, which makes it one of the widely used materials for construction globally.
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Companies such as Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Compagnie de Saint Gobain SA (France), and Toray Industries Inc (Japan) were the key players who adopted this strategy to increase their geographic reach and product offerings, to increase the customer base, and to stay ahead of competitors.
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