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Asia-Pacific to play a key role in the market for fiber cement


The report “Fiber Cement Market by Material (Portland cement, Sand, Fiber, And Other Materials Including Paints and Additives), Application (Siding, Roofing, Molding & Trim, and Other Applications), End-Use (Residential and Non-Residential) – Forecast to 2021″, The market for fiber cement is projected to grow from USD 13.75 Billion in 2016 to USD 17.38 Billion by 2021, at an estimated CAGR of 4.80%. This growth is due to growing construction activities, globally. Stringent regulations against the use of asbestos cement also provides an opportunity to the market to grow further, especially in the emerging Asia-Pacific and Latin American regions.

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On the basis of key regions, the market for fiber cement is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). The Asia-Pacific region is the most attractive market for fiber cement. Rising economy and rapid growth in the infrastructure sector in this region have significantly impacted the growth of fiber cement. This region is projected to see the highest number of new constructions and infrastructural activities in the near future.

Favorable and lenient lending policies initiated by governments across all regions are one of the major factors driving this sector. Durability and aesthetics of fiber cement for applications such as siding and roofing have made them a popular choice in the residential construction market.

Etex Group NV (Belgium) held the leading position in the global fiber cement market. The company has maintained its leadership position through its strong distribution network across Europe, Americas, and emerging markets. The company is among the leading manufacturers of products for many of the markets it serves. Etex Group NV expanded its fiber cement business in Indonesia by inaugurating a new factory in Karawang. The company strengthened its position in the emerging Asia-Pacific region with this expansion, which costed the company more than USD 70 Million.

The global market for fiber cement is dominated by large players such as Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Compagnie de Saint Gobain SA (France), and Toray Industries Inc (Japan). Other players in this market include CSR Limited (Australia), The Siam Cement Public Company Limited (Thailand), Nichiha Fiber Cement (Japan), Plycem USA, Inc. (U.S.), and Cembrit Holding A/S (Denmark).

Read More: https://www.marketsandmarkets.com/PressReleases/fiber-cement.asp

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