2020 Growth Opportunities for Global Fiber Cement Market, MarketIntelReports
Over the past twenty years, fiber cement composites have gained a cumulative foothold in the global markets. It is a complex material which is mainly used in building and construction. Reinforcement of fibers to cement imparts a number of traits including resistance to cracking, lighter weight and a degree of flexibility which are significant to the application and serviceability of the composite. Fiber cements products are mainly used for cladding and roofing purposes. Additionally, they are used in agriculture for both building and ancillary purposes. Fiber cement products have found its way into the various major application areas including industrial, consumer and agriculture sectors.
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The need for safe, sustainable and secure shelter is an innate problem across the world. With growing population, the demand for residential construction has seen an upsurge in the recent past. There are many inventions pertaining to the kind of materials being used in the construction activities. One such important innovation is the fiber reinforcement of cement to increase the strength of the cement. Some of the fibers being used in this industry include asbestos, polypropylene, polyvinyl alcohol (PVA), mineral fibers, carbon, Kevlar, lignocellulose and many more. This reinforced cement is used to manufacture products like flat sheets, corrugated sheets, planks, slates and many others. Recently there is an increasing demand for environmentally friendly products in construction. Following this trend, many companies are coming forward with the introduction of eco-friendly fibers like sisal, jute fibers and other vegetable fibers which can replace the usage of asbestos.
Fiber cement products have found its way into construction application of various areas like, residential buildings, non-residential buildings, agriculture, industrial and consumer sectors. The products used for these purposes vary based on the requirements. Fiber cement products are majorly used for cladding, siding and roofing purposes. They are used in agriculture for both building and ancillary purposes. In industries, they are used for fire proofing walls and in household application for ceilings, switch boards and so on.
Residential building sector is forecast to be the fastest growing application for fiber cement market
The new housing market is all set to experience rapid growth in fiber cement demand in the near future. The demand for planks is on a surge under this application as, builders will prefer siding and roofing done from fiber cement over the traditional wooden planks as it offers a similar appearance, but would require little maintenance when compared to its counterpart wood. Also the resistances from external environment or insect attacks, which fiber cement products provide are far superior than wood.
Residential improvement and repairs are forecast to account for the largest share of fiber cement products in the coming future. Consumer interest in bathroom renovation projects supported demand for fiber cement backer board installed beneath decorative tile flooring and bathtub and shower surrounds.
North America leads the global fiber cement market followed by Asia Pacific
The demand for fiber cement is growing at a steady pace across the globe, with a few regions growing much faster than others. The North American market is the largest and the fastest growing market followed by Asia Pacific (APAC). The US is a major market in the North American region growing at 8.0 % annually; it is forecast to reach $2.7 billion by 2017.
Growth in APAC is attributed to the increase in residential construction. With the increase in population and a higher per capita income, the growth of fiber cement products is on an upsurge. On the contrary, the growth in Europe and rest of the world is seen to be steady.
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Fiber Cement Market– Market Forces
- Regulations To Ban Asbestos Has Shot Up The Demand For Alternative Fiber Cement Products
- Escalating Growth In The Urban Housing Sector Of The World, Notably In China And India, Due To Exponentially Growing Population Drives The Growth
- Fiber Cement Requires Skilled Labour As Well As More Manpower For Installation
- Cement Siding Is Not Preferred By Many Home Owners Because Of Its Limited Decorative Properties And Rigidity
- Fiber Cement Sheets Are Prone To Biological Degradation When They Come In Contact With Excess Of Water
Attractiveness of the Industry
- Power of Suppliers
- Power of Customers
- Threat of New entrants
- Threat of Substitution
- Degree of Competition
Fiber Cement Market– Strategic Analysis
- Value Chain Analysis
- Pricing Analysis
- Opportunities Analysis
- Product/Market Life Cycle Analysis
- Suppliers and Distributors
By Fiber Type – Polypropylene, PVA, Glass Roving’s, Mineral Fiber, Carbon, Kevlar, Steel, Asbestos, Lignocellulose & Others
By Production Process – Hatschek Process, Extrusion Process, Perlite Process and Others
By Product Types – Flat Sheets, Corrugated Sheets, Laminated Skirts, Shingle Slates, Planks & Others
By Application – Agriculture, Industrial, Residential, Non-Residential, Commercial & Others
Geography – North America, Europe, APAC & Others
Some of the companies which hold a major share in the production of fiber cement products include, James Hardie Industries PLC, Saint Gobain, Nichia, Maxtile among others.
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