Mar 11, 2020 (Heraldkeepers) -- Fiber cement market is making quite a stride witnessing continual revenue increase. The burgeoning construction industry is a key driving force behind the growth of the market, consuming a massive amount of fiber cement. Moreover, the increasing absorption of fiber cement in the manufacturing of siding & trim products accelerates the market demand, significantly.
Shandong Cement (China), Alpha Roofing Industries, LLC (US), James Hardie Industries PLC (Ireland), CSR Limited (Australia), American Fiber Cement Corporation (US), Cembrit Holding A/S (Denmark), Toray Industries Inc. (Japan), Etex Group NV (Belgium), Allura (US), GAF (US), and Nichiha (Japan), among others.
Fiber Cement Market Competitive Analysis
The well-established, fiber cement market appears to be highly competitive and fragmented due to the presence of major players. To gain a larger competitive share of the market, these players adopt strategic initiatives such as mergers & acquisitions, collaboration, expansion, and product/ technology launch.
Focusing on improving their market performance, key companies are acquiring small yet promising companies from the emerging regions to support their expansion strategy. Leading players make substantial investments to increase their footprints. They acquire promising companies from emerging markets to expand their production capacity, distribution network, and supply chain.
Industry/ Innovation/ Related News
February 24, 2020 —- James Hardie Industries plc. (Ireland), a leading global building materials company, announced the expansion of its Frederickson facility to increase the production capacity to keep pace with continued growth in the market demand. In 2018, the manufacturer of fiber-cement siding & trim products had topped the Economic Development Board of Tacoma-Pierce County's list of fastest-growing companies.
Global fiber cement market is making quite a stride witnessing continual revenue increase. The burgeoning construction industry is a key driving force behind the growth of the market, consuming a massive amount of fiber cement. Moreover, the increasing absorption of fiber cement in the manufacturing of siding & trim products accelerates the market demand, significantly.
The increase in the consumption of reinforced fiber cement products such as boards and panels in the construction of residential and commercial buildings attributes to fire and impact resistant properties that the material demonstrates. Owing to its easy recyclability, high strength, and durability, this composite building material has become an important material in modern construction.
As a result, the global fiber cement market is growing dynamically. According to Market Research Future (MRFR), the global fiber cement market is projected to accrue exponentially by 2023, registering an impressive CAGR throughout the review period (2018-2023). Rising government initiatives such as smart city projects and infrastructure development activities are the major tailwinds for the growth of the market.
Additionally, the ever-increasing population, alongside the urbanization & industrialization provides a huge impetus to the growth of the fiber cement market. The rapidly improving global economy is propelling the market growth, increasing the purchasing power of people. Besides, the structural safety that fiber cement offers to large-scale construction projects fosters the growth of the market.
Conversely, factors such as fluctuating prices and the demand-supply gap in raw materials needed for the manufacturing of fiber cement are projected to hamper the growth of the market during the forecast period. Nevertheless, advances in manufacturing techniques that are likely to take place in the recent future are expected to support the growth throughout the review period, reducing the overall market price of the fiber cement.
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Fiber Cement Market Segments
Five major dynamics the report has segmented into are;
By Material : Portland cement, Cellulosic Material, sand, and others.
By Product : Boards, Panels, Siding, and others.