Fiber Cement Board Market Growing at 5.5% CAGR to be Worth USD 2,339.16 million by 2028: COVID-19 Impact and Global Analysis by The Insight Partners

The fiber cement board market is expected to grow from US$ 1,682.42 million in 2021 to US$ 2,339.16 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028. Fiber cement is a long-lasting and low-maintenance material that is often used to cover the exterior of homes and, in some circumstances, commercial structures. It is made of cellulose fibers, cement, and sand, which define its strength.

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Companies Profiled in this report includes: Nichiha Co., Ltd; Cembrit Holding A/S; Dow Inc.; Beijing Hocreboard Building Materials Co. Ltd.; SCG Building Materials Co., Ltd.; Saint Gobain S.A.; Tepe Betopan A.Ş.; IKK Group; Hume Cemboard Industries Sdn Bhd; and ACFA Building Solution

Growing awareness about the need for sustainable developments and increased construction of green buildings is increasing demand for the fiber cement boars. It is made using recycled materials such as cellulose fibers, sand, and cement, which aid in protecting human health and the environment. Fiber cement boards are nontoxic as they do not contain asbestos. It is a cost-effective option that may mimic the appearance of wood siding, clapboard, and shingles, along with supporting design variety.

The global construction industry has witnessed significant growth during the last few years. This growth in construction activities is propelling the demand for construction materials including fiber cement boards. Moreover, fiber cement installations are very effective in places with extreme weather. They can serve as a feasible solution for aluminum and wood installations commonly seen near marine environments with salty air. These sidings are also effective against rain and hail. Because fiber cement boards are substantially lighter than aluminum and wood boards, they can be readily transported from the producer to the consumer. The lightweight contributes to cost savings by minimizing the amount of fuel used for transportation.

Impact of COVID-19 Pandemic on Fiber Cement Board Market

The COVID-19 pandemic led to adverse effects on the global chemicals & materials industry due to the shutdown of manufacturing facilities, challenges in procuring raw materials and components, and restrictions on logistic operations. Disruptions in the supply of raw materials to manufacturers and containment measures hampered fiber cement board production. The discontinuation of operations and value chains due to the shutdown closure of national and international boundaries hampered the growth of the packaging, consumer goods, automotive and transportation, textiles, and building & construction industries.

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The " Fiber Cement Board Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The fiber cement board market is segmented on the basis of type, end user, and geography. Based on type, the market is segmented into low-density fiber cement board, medium density fiber cement board, and high-density fiber cement board. Based on end-user, the fiber cement board market is segmented into residential and commercial. Based on geography, the market is segmented into five main regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2021, Asia Pacific dominated the fiber cement board market.

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