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Fiber Cement Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

Product Code : MDCH00112455
Survey : Mordor Intelligence
Publish On : 20, May, 2022
Category : Chemicals and Advanced Materials
Report format : PDF
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[Report Description]

The Global Fiber Cement Market is projected to register a CAGR of over 5% during the forecast period (2021-2026).

The market was negatively impacted by COVID-19 in 2020. The construction industry was severely impacted owning to the lockdown situation, thus negatively impacting the demand of fiber cement. According to Euroconstruct, the construction growth in Europe reached the highest level in 2017, and it is expected to grow up to 2022. The growth rate in 2020 before the COVID-19 outbreak was expected to be 1.1%, compared to 2.3% in 2019. With the outbreak of the pandemic and with almost zero economic activity, the construction growth rate is expected to be negative and is likely to impact the market studied on a short-term basis.

- Over the short term, the major factor driving the market studied is the increasing demand for energy-efficient buildings. However, the threat of substitutes, like vinyl and wood siding, is expected to hinder the growth of the market studied.
- The sliding segment dominated the market. It is expected to grow during the forecast period.
- Increasing awareness in emerging economies is likely to act as an opportunity in the future.
- Europe dominated the global market, with the largest consumption recorded from the countries, such as Germany and the United Kingdom.

Key Market Trends

Increasing Demand from Residential Sector

- Fiber cement siding is a product that affixes to the exterior of a house or other structures, owing to its characteristics, such as wear and tear resistance to concrete, it and can help in keeping the house sustainable to some of the harshest elements of the local environments.
- The residential industry is the major end-user industry for fiber cement. The rising middle-class population, coupled with increasing disposable incomes, has facilitated an expansion in the middle-class housing segment. Thus, there is expected to be an increase in the use of fiber cement, within the segment, during the forecast period.
- Globally, Asia-Pacific has the largest construction market, which is led by India, China, and various Southeast Asian countries. In India, the government initiated the project, ‘Housing for All by 2022’, which is expected to immensely drive the low-cost residential construction segment in the country, throughout the forecast period. Furthermore, under the Pradhanmantri Awas Yojana, the Indian government has taken a decision to provide interest subvention of 3% and 4% for loans of up to USD 18,000 and USD 13,500, respectively, for the lower strata of the society, with respect to buying and building homes.
- In Southeast Asia, Thailand is the one of the most exciting hubs for the contractors, with a huge construction sector to invest in. With increasing public works, such as the construction of transit lines and subway infrastructure, the demand for residential construction has been consistently increasing. Residential construction is the largest segment in the Thai construction industry and is expected to account for more than 40% of its total value in 2023.
- According to US Census Bureau, the total residential housing units authorized by building permits in March 2020 were at a seasonally adjusted annual rate of 1,353,000 representing 5% growth over March 2019 rate of 1,288,000. The total number of privately‐owned housing starts in March 2020 were at a seasonally adjusted annual rate of 1,216,000 representing 1.4% growth over March 2019 rate of 1,199,000.
- In South America, Brazil is suffering from a volatile economy, which has reduced activities in the construction industry. However, the Brazilian house builder, MRV, has predicted a growth despite the recession.
- Such growth in the residential sector, globally, is expected to drive the market for fiber cement, during the forecast period.

Europe Region to Dominate the Market

- Europe accounted for the largest market for fiber cement, owing to the growth of energy-efficient buildings in the region.
- Germany is the largest economy in Europe, and the fifth largest, globally. Germany has been one of the worst-hit countries in the world by the COVID-19 virus outbreak. However, the German government has exempted infrastructure, residential, and utility construction from the lockdown measures with construction allowed to continue through the COVID-19 crisis.
- According to the World Economic Forum’s Global Competitiveness Report in 2019, the country ranked 8th in terms of infrastructure index in the period, 2018-2019, gaining two places from 10th in 2017-18.
- The construction industry in the country has been growing at a slow pace, which is majorly driven by the increasing new residential construction activities. According to the industry experts, the completion of construction of new houses was estimated to be around 315,000 units in 2019, which is higher, when compared to total completions in 2018, which was 300,000 units
- The German Ministry of Transport and Digital Infrastructure is planning to invest EUR 300 million in future technologies, such as electric mobility or automated and networked driving for electric vehicle charging infrastructure, which, is expected to positively impact the market.
- Under NPIF, the government in United Kingdom is planning to invest GBP 23 billion on housing, science and innovation, transport, and a 5G network over the next five years, of which, around GBP 7.2 billion is allocated for the construction of new homes and GBP 4 billion is allocated to infrastructure such as roads bridges, pavements and others.
- In addition, the government’s investments of GBP 100 billion in large-scale housing and regeneration projects, along with key social infrastructure, such as schools, hospitals, and prisons, is expected to increase the demand for fiber cement used for construction purposes.
- France has the second-largest construction industry in the European region. According to INSEE, France, number of residential building construction in January 2020 was 28,474 compared to 29,571 in January 2018, the decine in residential building construction is due to the COVID-19 outbreak, and is further expected the residential construction in short term.
- Additionally, the French government has also started taking the initial steps toward the developments for hosting the 2024 Olympics. For instance, the French government has sanctioned a total of ~USD 3.3 billion for the construction of the Hermitage towers (two 320-meter -1,050-foot towers), which are due to be completed by 2024.
- These factors are estimated to boost the demand for fiber cement in Europe, during the forecast period.

Competitive Landscape

The global fiber cement market is fragmented in nature. Some of the major players in the market include TORAY INDUSTRIES, INC., Zykron, James Hardie Building Products Inc., Plycem, and Etex Group.

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1.1 Study Assumptions
1.2 Scope of the Study



4.1 Drivers
4.1.1 Increasing Demand for Energy-efficient Buildings
4.1.2 Other Drivers
4.2 Restraints
4.2.1 Threat of Substitutes, like Vinyl and Wood Siding
4.2.2 Impact of COVID-19 Outbreak
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Raw Material Analysis
4.5.1 Portland Cement
4.5.2 Silica
4.5.3 Cellulosic Fiber
4.5.4 Others

5.1 Application
5.1.1 Siding
5.1.2 Roofing
5.1.3 Cladding
5.1.4 Molding and Trimming
5.1.5 Other Applications
5.2 End-user Industry
5.2.1 Residential
5.2.2 Non-residential
5.3 Geography
5.3.1 Asia-Pacific China India Japan South Korea Rest of Asia-Pacific
5.3.2 North America United States Canada Mexico
5.3.3 Europe Germany United Kingdom Italy France Rest of Europe
5.3.4 South America Brazil Argentina Rest of South America
5.3.5 Middle-East and Africa Saudi Arabia South Africa Rest of Middle-East and Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Fiber Cement Corporation
6.4.2 Cembrit Holding A/S
6.4.3 CSR Limited
6.4.4 Etex Group
6.4.5 James Hardie Building Products Inc.
6.4.7 Plycem
6.4.8 The Siam Cement Public Company Limited
6.4.9 Toray Industries Inc.
6.4.10 TPI Polene Public Company Limited
6.4.11 Zykron


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