The demand for fiber cement boards is prominent in the construction industry for applications such as flooring, siding, and roofing, among others.
The global fiber cement board market is anticipated to create robust growth over the assessment period by registering a CAGR of 4.3% from 2022 to 2032. The global market registered a valuation of around US$ 10 Billion in 2021 to reach a valuation of US$ 27 Billion by 2032. The growth of the market is attributed to the increasing usage of fiber cement boards in various sectors such as commercial, industrial, and residential buildings. This material is mostly utilized to cover the exteriors of the buildings.
Fiber cement board is a material made up of plant extract cellulose, sand, and cement where cement fits as an extremely hard material that is likely to make it an affordable alternative for the real estate business. Furthermore, excessive spending on creating planned cities and better living conditions is emerging as a major priority that is driving the sales of fiber cement board more in all the countries simultaneously.
The construction sector has been the prominent end user of the fiber cement board market for the past several years. Furthermore, the surging population in cities owing to rising migration and urbanization has led to a significant rise in construction projects. Since more opportunities are growing in cities, people in large numbers are shifting to urban centers which have led to a tremendous increase in construction activities across the regions of the world.
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Key Takeaways
Competitive Landscape
Some of the key players in the global fiber cement board market are working on expanding their portfolio company and augmenting their fiber cement board market share in the coming days. Furthermore, new technological advancements within the fiber cement board market are creating new growth opportunities over the forecast period.
Key Companies Profiled
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More Insights into the Fiber Cement Board Market
North American region is anticipated to dominate the global fiber cement board market. Countries like the U.K., Germany, North America, and Spain, among others, are expected to be prominent countries in the fiber cement board market owing to high construction spending in these countries.
Growth in these countries is attributed to the increasing commercial construction activities and rising aesthetic advantages held by fiber cement boards.
Key Segments
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
May 17, 2023