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Market Analysis: Fiber Cement Market, Honeycomb Paperboard Market and Floor Tile Market forecasted for 2023-2030

Market Analysis: Fiber Cement Market, Honeycomb Paperboard Market and Floor Tile Market forecasted for 2023-2030

SEATTLE, WASHINGTON, USA, July 1, 2023/ -- The Fiber Cement Market is expected to grow from USD 11.00 Billion in 2022 to USD 16.70 Billion by 2030, at a CAGR of 6.20% during the forecast period.A number of factors, including the expanding need for affordable housing in developing economies and the rising demand for sustainable construction materials, have contributed to the steady rise of the fibre cement target market in recent years.The increasing demand for environmentally friendly building materials is one of the key reasons fueling the growth of the fibre cement market. The demand for eco-friendly construction materials has increased as a result of growing worries about how construction operations affect the environment.

There are three main types of fiber cement based on their density:

• Low-density fiber cement (LDFC) is the lightest and most flexible type, making it easy to cut and install.
• Medium-density fiber cement (MDFC) has a higher density and a smoother finish, making it suitable for a wide range of applications.
• High-density fiber cement (HDFC) is the heaviest and most durable type, which is ideal for use in areas with high impact or weather resistance requirements.

Fiber cement is a versatile building material that is used in a variety of applications. In commercial buildings, fiber cement is a popular choice for exterior cladding, as it is durable and can withstand harsh weather conditions. It is also used for roofing and in interior applications, such as wall panels and ceiling tiles. In residential buildings, fiber cement is commonly used for siding, roofing, and trim, as it provides an attractive and low-maintenance option for homeowners.

The expected market share of the fiber cement market in North America and Europe is expected to be around 25-30% and 15-20%, respectively, by the end of 2025. The rest of the world is also expected to witness moderate growth in the fiber cement market due to the increasing demand for sustainable and durable building materials. The expected market share of the fiber cement market in other regions is expected to be around 5-10% by the end of 2025.

Some of the leading players in the market include James Hardie, Etex Group, Cembrit, Mahaphant, Elementia, Everest Industries, Hong Leong Industries, HeaderBoard Building, Soben Board, SCG Building Materials, Kmew, Nichiha, Lato JSC, Visaka Industries, China Conch Venture and Sanle Group.

The sales revenue figures for the year 2019-20 for some of the above-listed companies are:

James Hardie - $2.7 billion
Etex Group - $3.5 billion
Mahaphant - $258 million
Elementia - $591 million
Visaka Industries - $200 million

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The Honeycomb Paperboard Market is expected to grow from USD 2.00 Billion in 2022 to USD 2.20 Billion by 2030, at a CAGR of 1.50% during the forecast period.The Honeycomb Paperboard market is a rapidly growing market, with a high demand for its products. The target market for Honeycomb Paperboard is varied, including industries such as automotive and aerospace, as well as packaging and construction. The increasing environmental concerns and focus on sustainability have driven the demand for Honeycomb Paperboard as a green and recyclable packaging material. The packaging industry is one of the major contributors to the growth of the Honeycomb Paperboard market due to its excellent shock-absorbing and insulating properties.

There are three main types of honeycomb paperboard:

• Continuous Paper Honeycomb
• Blocks Paper Honeycomb
• Expanded Paper Honeycomb

Continuous paper honeycomb is made using a paper machine that continuously feeds paper into a honeycomb shape. Blocks paper honeycomb is made by laminating layers of paper onto a core base, which is then cut into blocks. Expanded paper honeycomb is made by heating paper into a honeycomb shape and then expanding it with steam.

Honeycomb paperboard is a lightweight and strong material that finds its application in various industries. In furniture manufacturing, honeycomb paperboard is used as a core material for doors, shelves, and table tops. For door manufacturing, honeycomb paperboard is sandwiched between two sheets of wood veneer to make it lighter and stronger. In automotive industries, honeycomb paperboard is used in dashboards, door panels, and headliners to reduce vehicle weight and to provide better fuel efficiency. In packaging production, honeycomb paperboard serves as a cushioning material to prevent product damage during transportation.

The global honeycomb paperboard market is expected to witness significant growth across several regions, including North America, APAC, Europe, the United States, and China. North America and Europe are expected to remain key markets due to the growing demand for sustainable packaging and cost-efficient materials.

The major players operating in this market include CORINT, Grigeo, Axxor, Honicel, Cartoflex, Forlit, BEWI, Bestem, Dufaylite, L'Hexagone, Tivuplast, QK Honeycomb Products, HXPP, American Containers, Cascades, DS Smith, IPC, Shenzhen Prince New Materials, and Zhengye.

A few of the sales revenue figures of the above-listed companies are:

- DS Smith: £6.17 billion (FY 2020)
- Cascades: CAD 4.56 billion (FY 2019)
- CORINT: €151.3 million (FY 2019)
- BEWI: SEK 3.03 billion (FY 2020)
- Grigeo: €89.4 million (FY 2019)

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The Floor Tile Market is expected to grow from USD 123.90 Billion in 2022 to USD 176.20 Billion by 2030, at a CAGR of 5.16% during the forecast period.The floor tile market targets residential and commercial customers who are looking for durable, aesthetic and low-maintenance flooring solutions. Among residential customers, the market targets homeowners, property managers, and builders. The commercial customers include hotels, offices, hospitals, educational institutions, and others.

Ceramic floor tiles are made from clay and are one of the most popular types of floor tiles. They come in a wide variety of colors, patterns, shapes, and sizes, making them versatile and suitable for any room in the house. Ceramic tiles are durable, easy to clean, and can withstand high traffic areas. Additionally, they are water-resistant, making them an excellent option for areas that are exposed to moisture, such as bathrooms and kitchens.

Floor Tiles are widely used for household and commercial applications. In households, they are commonly used in living rooms, kitchens, bathrooms, and outdoor areas. In commercial applications, they are used in offices, malls, hospitals, restaurants, and many other places. In households, floor tiles are used because they are easy to clean, durable, and come in a variety of designs. In commercial applications, floor tiles are used because of their durability, slip-resistant properties, and low maintenance requirements.

Asia Pacific region is expected to dominate the Floor Tile market due to its growing construction industry.The market share percent valuation of the region is estimated to be around 40% by the year 2025. The Middle East and Africa region is also expected to witness substantial growth with an estimated market share of around 10% by 2025.Europe and North America are also expected to show significant growth estimated to be around 20% and 25% respectively by 2025. Latin America is expected to account for a minor share of the Floor Tile market due to the slow growth of the construction industry in the region, with an estimated market share of around 5% by 2025.

The floor tile market is highly competitive due to the presence of various regional and global market players. Mohawk Industries, Tarkett, Interface, Dare Power Dekor Home, Guangdong Dongpeng, Armstrong Flooring, Lamosa, Pamesa, Forbo, Mannington Mills, Shaw Floors, Gerflor, Nabel, LX HAUSYS, Atlas Concorde, Tianzhen Bamboo Flooring, TOLI Corporation, Nature Home, and Casalgrande Padana are some of the prominent players operating in the floor tile market.

Sales revenue figures for a few of the above-listed companies are as follows:

- Mohawk Industries: $8.7 billion in 2020
- Tarkett: €2.6 billion in 2020
- Interface: $962 million in 2020
- Mannington Mills: $793 million in 2019
- Shaw Floors: $6.5 billion in 2020

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Mohit Patil
Prime PR Wire
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