According to a new report, published by KBV research, 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 an advanced building & construction material composed of portland cement, silica, and cellulosic fiber. One of the most common uses of fiber cement is in exterior siding for residential, commercial, and industrial buildings. Fiber cement siding offers durability, weather resistance, and a wide range of styles and textures, including options that mimic wood, stone, or stucco. Fiber cement is also used in roofing materials such as shingles, shakes, and panels. Fiber cement roofing is a common option in areas with severe weather conditions because of its exceptional durability, fire resistance, and weather resistance.
The Non-Residential segment is registering a CAGR of 3.7 % during the forecast period. Fiber cement is commonly used in institutional buildings such as schools, hospitals, government buildings, and religious facilities for exterior cladding, roofing, and architectural features. The non-residential segment includes institutional projects where fiber cement provides durability, fire resistance, and design versatility.
The Portland Cement segment led the Global Fiber Cement Market by Raw Material in 2023; thereby, achieving a market value of $10.9 billion by 2031. Fiber cement backer boards are underlayment for tile installations in wet areas such as bathrooms, kitchens, and showers. Portland cement in these boards provides stability, moisture resistance, and dimensional stability, ensuring a solid substrate for tile applications. Fiber cement is often used in prefabricated building systems, where standardized components are manufactured off-site and assembled on-site to create modular structures.
The Siding segment is growing at a CAGR of 3.6 % during the forecast period. Fiber cement siding comes in various textures, profiles, colors, and finishes, allowing customization to suit different architectural styles and design preferences. Its versatility allows architects and homeowners to create a wide range of appearances, from conventional to contemporary, contributing to its popularity in the siding segment.
Full Report: https://www.kbvresearch.com/fiber-cement-market/
The Asia Pacific region dominated the Global Fiber Cement 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. The Europe region is anticipated to grow at a CAGR of 3.5% during (2024 - 2031). Additionally, The North America region would witness a CAGR of 3.7% during (2024 - 2031).
By End Use (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Construction Type (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Geography (Volume, Kilo Tonnes, USD Billion, 2020-31)
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