Fiber Cement Market

Global Fiber Cement Market Size, Share & Trends Analysis Report By End Use (Non-Residential and Residential), By Raw Material (Portland Cement, Silica, Cellulosic Fiber, and Others), By Construction Type, By Regional Outlook and Forecast, 2024 - 2031

Report Id: KBV-22200 Publication Date: April-2024 Number of Pages: 313
2023
USD 17.2 Billion
2031
USD 23.4 Billion
CAGR
4.0%
Historical Data
2020 to 2022

“Global Fiber Cement Market to reach a market value of USD 23.4 Billion by 2031 growing at a CAGR of 4.0%”

Analysis of Market Size & Trends

The Global Fiber Cement Market size is expected to reach $23.4 billion by 2031, rising at a market growth of 4.0% CAGR during the forecast period. In the year 2023, the market attained a volume of 77,889.8 Kilo Tonnes experiencing a growth of 18.8% (2020-2023).

Fiber cement is widely used in commercial construction projects across North America for exterior cladding, roofing, and architectural features. North American consumers value low-maintenance building materials that offer durability and long-term performance. Consequently, the North American region would acquire nearly 21% market share by 2031. Also, the US market would consume 14,676.1 kilo tonnes of this cement by 2031. Renovation and remodeling projects contribute significantly to North America's demand for this cement.

Fiber Cement Market Size - Global Opportunities and Trends Analysis Report 2020-2031

Prefabricated construction methods offer significant efficiency advantages over traditional on-site construction, including faster project completion, reduced labor costs, minimized waste generation, and improved construction site safety. This cement play a key role in prefabricated construction by providing lightweight, durable, and easy-to-install building materials that contribute to overall construction efficiency. Prefabricated construction is inherently more sustainable than traditional construction methods, as it reduces construction waste, minimizes environmental impact, and improves energy efficiency. Therefore, the market is expanding significantly due to the growing demand for prefabricated construction. Additionally, incorporating these cement fibers into ultra-high-performance concrete (UHPC) opens new applications for both materials. UHPC reinforced with this cement can be used in structural elements like beams, columns, and facade panels, where exceptional strength and durability are required. This expansion of applications creates opportunities for growth in the market as manufacturers cater to the demand for specialized reinforcement materials. This cement is manufactured from natural elements, including cement, sand, and cellulose fibers, making it sustainable. Thus, as UHPC gains popularity for its superior mechanical properties and reduced thickness requirements, the demand for these cement fibers as reinforcement will likely increase, driving growth in the market.

However, supply chain disruptions, like raw material shortages, transportation bottlenecks, or labor strikes, can lead to delays in production schedules. Supply chain delays can have ripple effects on downstream customers such as builders, contractors, and distributors that rely on this cement product deliveries on schedule for their building projects. Thus, supply chain disruptions can slow down the growth of the market.

Driving and Restraining Factors
Fiber Cement Market
  • Growing demand for prefabricated construction
  • Rise in product utilization in ultra-high-performance concrete
  • Expansion of construction activities
  • Lack of supply chain disruptions
  • Significant regulatory compliance issues
  • Sustainable innovation and certification
  • Rising customization and design innovation
  • High initial costs of fiber cement
  • Adverse impact of installation challenges

By End Use Analysis

On the basis of end use, the market is divided into residential and non-residential. The residential segment garnered a 33% revenue share in the market in 2023. In terms of volume, the residential segment consumed 27,798.9 kilo tonnes of this cement in 2023. This cement’s prefabricated components, such as wall panels, modular systems, and kit homes, are increasingly used in residential construction for efficiency, quality, and sustainability. Prefabricated fiber cement elements streamline construction, reduce waste, and offer home energy-efficient and durable homes.

By Raw Material Analysis

By raw material, the market is categorized into portland cement, silica, cellulosic fiber, and others. The silica segment covered a 14% revenue share in the market in 2023. Silica reinforcement helps reduce shrinkage and cracking in the cement materials during curing and service life. Adding silica fibers or particles improves the cohesion and adhesion of cementitious matrices, minimizing the risk of shrinkage-related issues such as cracking and delamination.

Fiber Cement Market Share and Industry Analysis Report 2023

By Construction Type Analysis

Based on construction type, the market is classified into siding, roofing, molding & trim, and others. The roofing segment acquired a 7% revenue share in the market in 2023. In terms of volume, the roofing segment consumed 5,265.4 kilo tonnes of this cement in 2023. These cement roofing materials are engineered to withstand extreme weather conditions, such as high winds, temperature fluctuations, and freeze-thaw cycles. They offer superior resistance to moisture, rot, decay, and insect damage, ensuring reliable performance and weatherproofing for buildings in diverse climates and environments.

Free Valuable Insights: Global Fiber Cement Market size to reach USD 23.4 billion by 2031

By Regional Analysis

Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2023, the Asia Pacific region led the market by generating 48% revenue share. In the Asia Pacific region, the demand for construction materials, such as this cement, is propelled by accelerated urbanization and infrastructure development. For example, according to Invest India, the construction sector will grow to $1.4 trillion by 2025. The Asia Pacific region experiences robust growth in the housing industry, driven by factors like rising incomes, demographic shifts, and government initiatives to promote affordable housing and homeownership.

Fiber Cement Market Report Coverage
Report Attribute Details
Market size value in 2023 USD 17.2 Billion
Market size forecast in 2031 USD 23.4 Billion
Base Year 2023
Historical Period 2020 to 2022
Forecast Period 2024 to 2031
Revenue Growth Rate CAGR of 4.0% from 2024 to 2031
Quantitative Data Volume in Kilo Tonnes, Revenue in USD Billion, and CAGR from 2020 to 2031
Number of Pages 313
Number of Tables 710
Report coverage Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives
Segments covered Raw Material, Construction Type, End-use, Region
Country scope
  • North America (US, Canada, Mexico, and Rest of North America)
  • Europe (Germany, UK, France, Russia, Spain, Italy, and Rest of Europe)
  • Asia Pacific (China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific)
  • LAMEA (Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA)
Companies Included

Knauf Gips KG (Gebr. Knauf KG), Beijing New Building Materials Public Limited Company, Etex NV, Swisspearl Group AG, Saint-Gobain Group, Toray Industries, Inc., CSR Limited, Nichiha Corporation , SHERA Public Company Limited and Beijing Hocreboard Building Materials Co. Ltd.

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List of Key Companies Profiled

  • Knauf Gips KG (Gebr. Knauf KG)
  • Beijing New Building Materials Public Limited Company
  • Etex NV
  • Swisspearl Group AG
  • Saint-Gobain Group
  • Toray Industries, Inc.
  • CSR Limited
  • Nichiha Corporation
  • SHERA Public Company Limited
  • Beijing Hocreboard Building Materials Co. Ltd.

Fiber Cement Market Report Segmentation

By End Use (Volume, Kilo Tonnes, USD Billion, 2020-31)

  • Non-Residential
  • Residential

By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-31)

  • Portland Cement
  • Silica
  • Cellulosic Fiber
  • Others

By Construction Type (Volume, Kilo Tonnes, USD Billion, 2020-31)

  • Siding
  • Roofing
  • Molding & Trim
  • Others

By Geography (Volume, Kilo Tonnes, USD Billion, 2020-31)

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Singapore
    • Malaysia
    • Rest of Asia Pacific
  • LAMEA
    • Brazil
    • Argentina
    • UAE
    • Saudi Arabia
    • South Africa
    • Nigeria
    • Rest of LAMEA

Frequently Asked Questions About This Report

This Market size is expected to reach $23.4 billion by 2031.

Growing demand for prefabricated construction are driving the Market in coming years, however, Lack of supply chain disruptions restraints the growth of the Market.

Knauf Gips KG (Gebr. Knauf KG), Beijing New Building Materials Public Limited Company, Etex NV, Swisspearl Group AG, Saint-Gobain Group, Toray Industries, Inc., CSR Limited, Nichiha Corporation , SHERA Public Company Limited and Beijing Hocreboard Building Materials Co. Ltd.

In the year 2023, the market attained a volume of 77,889.8 Kilo Tonnes experiencing a growth of 18.8% (2020-2023).

The Portland Cement segment led the Market by Raw Material in 2023; thereby, achieving a market value of $10.9 billion by 2031.

The Asia Pacific region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $11.4 billion by 2031.

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