Fiber Cement Market Benefits From The Increasing Expenditure On Construction
Fiber Cement Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
The Business Research Company’s Fiber Cement Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, March 9, 2022 /EINPresswire.com/ -- Increasing expenditure on construction is expected to propel the growth of the global fiber cement market. With the increase in the construction industry, the use of high efficiency and sustainable fiber cement affixes to the exterior of both residential and commercial spaces due to its characteristics that include resistance to wear and tear to concrete along with benefiting the residential space has increased. For instance, according to the Office of National Statistics UK, the monthly construction output increased by 3.5% in volume in November 2021. Also, according to Invest India, an India-based national investment promotion and facilitation agency, the construction industry in India is expected to reach $1.4 trillion by 2025. Therefore, increasing expenditure in construction is driving the growth of the fiber cement market.
In November 2021, Lonsa Group Limited, a Mauritian investment entity based in London acquired Everite, a South Africa-based company engaged in production and distribution of fibre cement, for a deal amount of RUB 600 million ($9.5 million). With this acquisition, Everite Group’s businesses, assets, and companies including the third party of the freehold property are acquired by the Lonsa company.
Read more on the Global Fiber Cement Market Report:
https://www.thebusinessresearchcompany.com/report/fiber-cement-global-market-report
The global fiber cement market size is expected to grow from $14.37 billion in 2021 to $15.40 billion in 2022 at a compound annual growth rate (CAGR) of 7.13%. The growth in the fiber cement market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The global fiber cement market share is expected to reach $21.30 billion in 2026 at a CAGR of 8.45%.
Technological advancements are a key trend gaining popularity in the fiber cement market. The companies manufacturing fiber cement are developing new products with the latest technologies to meet the demand from customers across various sectors. For instance, James Hardie, a manufacturer of fiber cement technologies based in Ireland introduced three new products that are, hardieSoffit®, artisan® Shingle, ventedPlus™ panel, and hardiebacker® Cement Board with hydrodefense™ technology. Artisan® Shingle works on higher airflow soffit and is the industry's first waterproof cement backer board.
Major players covered in the global fiber cement market are American Fiber Cement Corporation, Cembrit Holding, CSR Limited, Etex Group, James Hardie Industries PLC, Nichiha Corporation, Plycem, SCG Building Materials, Shandong cement, Zykron, Allura, Alpha Roofing industries, LLC, GAF, and Swiss pearl.
TBRC’s global fiber cement market report is segmented by raw material into cellulosic fiber, Portland cement, silica, by application into siding, roofing, cladding, molding and trimming, others, by end-user into residential, non-residential.
Fiber Cement Global Market Report 2022 – By Raw Material (Cellulosic Fiber, Portland Cement, Silica), By Application (Siding, Roofing, Cladding, Molding And Trimming), By End User (Residential, Non-Residential) – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provides a fiber cement market overview, forecast fiber cement market size and growth for the whole market, fiber cement market segments, geographies, fiber cement market trends, fiber cement market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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