SAN FRANCISCO, Aug. 9, 2023 /PRNewswire/ -- The global fiber cement board market size is expected to reach USD 27.18 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 13.3% from 2023 to 2030. Fiber cement boards are often considered a cost-effective option in various construction applications such as cladding and flooring as these are known for their durability and longevity. They are resistant to rot, pests, fire, and adverse weather conditions, which helps minimize repair and replacement costs over time. Additionally, fiber cement boards require minimal maintenance, eliminating the need for costly upkeep and refinishing.
Key Industry Insights & Findings from the report:
- HDFCB (high-density fiber cement board) was the largest market segment and accounted for 60.9% of the revenue share in 2022. Due to their minimal water absorption, HDFCB are particularly resistant to moisture-related effects such as warping, swelling, and mold growth. As a result, they are ideal for use in damp locations such as bathrooms and kitchens.
- The Low Density Fiber Cement (LDFC) board is characterized by its light weight. It is a flexible building material that blends cement, cellulose fibers, and additives to produce a long-lasting and lightweight product. In terms of handling, installation, and performance, LDFC boards have various advantages. They are resistant to impact, weathering, decay, and insect infestation. As a consequence, they are suitable for flooring, roofing, wall cladding, and decorative displays.
- The market for pre-fabricated shelters was the fastest growing segment with a CAGR of 10.5% in terms of volume in 2022. Fiber cement board offers a number of features that make it ideal for prefabricated shelter buildings. Prefabricated shelters are produced off-site in a controlled environment and then transported to the intended installation site.
- In 2022, wall cladding and panels were the largest segment with a 64.3% revenue share. As fiber cement board has various advantages for wall cladding applications, it is frequently utilized in both residential and commercial developments. Fiber cement board is extremely durable and weather resistant, and can withstand moisture, UV radiation, and temperature variations. These characteristics make it suitable for exterior wall cladding, which is propelling the market growth.
- The major manufacturers in the fiber cement board market include Beijing Hocreboard Building Materials Co. Ltd., HIL Limited, CenturyPly, Everest Industries Limited, and SAINT-GOBAIN. Companies are engaged in the adoption of strategic initiatives such as new product development and vertical integration to gain a competitive edge.
Read full market research report, "Fiber Cement Board Market Size, Share & Trends Analysis Report By Type (High-density, Medium-density, Low-density), By Application (Furniture, Flooring, Wall Cladding & Panels), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.
Fiber Cement Board Market Growth & Trends
Fiber cement boards are procured in a variety of textures, finishes, and colors, allowing for a wide range of design options. As they are constructed from biodegradable and recyclable materials, fiber cement boards are considered an environmentally friendly alternative. This is due to the growing consumer preference for sustainable furniture solutions. These factors are expected to increase the market demand for furniture applications.
Cement and cellulose are the major components utilized for manufacturing fiber cement boards. Therefore, the manufacturing and expense of the product might be impacted by the availability and fluctuations in raw material prices. Any break in the supply chain could lead to higher expenses and probable production delays.
The manufacturing process and technological improvements are positively impacting the furniture industry in the market. Improvements in the processes of cutting, shaping, and joining fiber cement boards can enhance the quality, efficiency, and cost-effectiveness of furniture products. Surface treatments, coatings, and finishing advancements can also broaden the design possibilities and appeal of fiber cement board furniture.
Many players with a global presence, such as CenturyPly and Everest Industries Limited, are engaged in forward integration, i.e., they manufacture the products as well as directly sell their products to end users. They mainly sell their products through employees spread across different regions, product categories; and business segments. Additionally, the market players also maintain their e-commerce websites to reach a wide audience and eliminate the involvement of intermediaries or distributors.
Fiber Cement Board Market Report Scope
Report Attribute | Details |
Market size value in 2023 | USD 12.08 billion |
Revenue forecast in 2030 | USD 27.18 billion |
Growth rate | CAGR of 13.3% from 2023 to 2030 |
Base year for estimation | 2022 |
Historical data | 2018 - 2021 |
Forecast period | 2023 - 2030 |
Fiber Cement Board Market Segmentation
Grand View Research has segmented the global fiber cement board market on the basis of type, application, and region:
Fiber Cement Board Market - Type Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)
- High-density
- Medium-density
- Low-density
Fiber Cement Board Market - Application Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)
- Furniture
- Flooring
- Wall Cladding & Panels
- Pre-fabricated Shelters
- Other Applications
Fiber Cement Board Market - Regional Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Asia Pacific
- China
- Japan
- India
- Australia
- Central & South America
- Brazil
- Middle East & Africa
- Saudi Arabia
- UAE
List of Key Players in the Fiber Cement Board Market
- Beijing Hocreboard Building Materials Co. Ltd.
- HIL Limited
- CenturyPly
- Everest Industries Limited
- SAINT-GOBAIN
- Sahyadri Industries Pvt. Ltd.
- Toray Building Materials Co., Ltd.
- Visaka Industries
- James Hardie Building Products Inc.
- Allura
Check out more market research studies published by Grand View Research:
- Aramid Fiber Market - The global aramid fiber market size is expected to reach USD 6.98 billion by 2030, registering a CAGR of 7.8% over the forecast years, as per a new report by Grand View Research Inc. Superior properties, such as strength and heat-resistance, of aramid fiber have promoted its utilization in the production of body armor fabric. The growing need for security and protection across various industries, such as mining, healthcare/medical, oil & gas, building & construction, and military, is projected to propel the market growth. In addition, stringent regulations in developing economies related to occupational safety are likely to benefit the market growth over the forecast period.
- Eco Fiber Market - The global eco fiber market size is expected to reach USD 77.17 billion by 2030, expanding at a CAGR of 7.6% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the rise in concern regarding the harmful environmental impacts of using synthetic fibers, which has been the major factor contributing to the increased demand for organic eco fiber for the past few years.
- Glass Fiber Reinforced Concrete Market - The global glass fiber reinforced concrete market size is expected to reach USD 244.2 million by 2027, expanding at a CAGR of 5.76% from 2020 to 2027, according to a new report by Grand View Research, Inc. The rising demand for non-corrosive materials in the construction industry is projected to propel the demand for glass fiber reinforced concrete (GFRC).
Browse through Grand View Research's Advanced Interior Materials Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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