The global fiber cement market size is projected to grow from USD 16.4 billion in 2020 to USD 20.3 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 4.4% during the forecast year. The growth of this market is attributed to the increasing construction activities in the residential and non-residential sectors and government regulations pertaining to the use of asbestos.
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The fiber cement market has been dominated by large players, such as the Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), CSR Limited (Australia), and Nichiha Corporation (Japan). These players have adopted various growth strategies, such as acquisitions, investments, and expansions, to increase their market shares and enhance their product portfolios.
Acquisitions accounted for the largest share of all the strategic developments that took place in the fiber cement market between 2016 and 2020. Key players such as James Hardie (Ireland), Toray Corporation (Japan), and Etex Corporation (Belgium) adopted these strategies to strengthen their business portfolios and presence in the fiber cement industry.(US).
James Hardie’s strong global presence, coupled with the attractive portfolio of fiber cement, makes it a global player in the fiber cement market. Its expertise in fiber cement building materials, and significant investments in its plants and market development programs have contributed toward its significant position in the market. The adoption of strategic initiatives, e.g., acquisitions, has also contributed to the success of the company. For instance, the acquisition of Fermacell GmbH (Germany) enhanced its fiber cement business in the European market.
Etex Group is considered to be one of the most popular companies in building construction in Europe and other regions. The company focuses on the manufacturing process of building products and is a global leader in offering dry and lightweight construction solutions. It provides a wide range of construction solutions to the multi-residential, industrial, as well as commercial sectors, and has worldwide operations. It operates across 42 countries through more than 90 subsidiaries and 113 factories worldwide. The company has 21 factories in America, 76 in Europe, 10 factories in Africa, and six in Asia.
Fiber Cement Market by Material (Portland Cement, Application (Siding, Molding & Trim, Backer boards, Flooring, Roofing, Wall Partitions), End use (Residential, Non-residential) and Region - Global Forecast To 2025
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