Fiber Cement Market : Emerging Trends, Business Growth Opportunities, Major Driving Factors
Fiber Cement Market Trends
The global consensus on reducing carbon emissions from the construction sector is expected to drive the expansion of the fiber cement market.
WILMINGTON, DELAWARE, UNITED STATES, May 2, 2024 /EINPresswire.com/ -- Allied Market Research recently released a comprehensive report titled "Fiber Cement Market by Raw Material, Construction Type, and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global fiber cement market is poised to reach $24.4 billion by 2030, growing from $16.4 billion in 2020 at a CAGR of 4.11% during the forecast period.
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Key Drivers, Restraints, and Investment Opportunities:
The global consensus on reducing carbon emissions from the construction sector is expected to drive the expansion of the fiber cement market. However, challenges such as the shortage of skilled labor in developing economies could hinder market growth. Nevertheless, the market is anticipated to benefit from the increasing urbanization, industrialization, and the high efficiency of fiber cement products, presenting numerous growth opportunities.
Dominance of the Portland Cement Segment:
In terms of raw materials, the Portland cement segment held the largest share in 2020, accounting for approximately half of the total revenue. The widespread use of Portland cement in concrete, mortar, and stucco is expected to propel this segment's growth. Conversely, the cellulosic fiber segment is projected to witness the highest CAGR of 5.09% during the forecast period.
Rapid Growth of the Siding Segment:
The siding segment dominated the market in 2020, capturing around half of the total market share. This dominance is attributed to the increasing number of residential and non-residential projects worldwide. Conversely, the molding and trim segment is forecasted to exhibit the highest CAGR of 4.91% during the forecast period.
Most Profitable Regions by 2030:
In terms of regions, Asia-Pacific led the fiber cement market in 2020, followed by Europe and North America, each accounting for approximately half of the total revenue. The Asia-Pacific market is expected to grow the fastest, with a projected CAGR of 4.81% during the analysis period, driven by the rising demand for residential construction in the region.
Key Players in the Market:
Some of the leading companies in the fiber cement market include James Hardie PLC, Cembrit Holding A/S, Evonik Industries AG, Nichiha Corporation, Saint Gobain SA, Toray Industries Inc., Plycem Corporation, The Siam Cement Public Co. Ltd., CSR Ltd., and Etex Group NV.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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