Fiber cement market benefits from increased construction spending
The Business Research Company Global Fiber Cement Market Report 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, United Kingdom, March 9, 2022 /EINPresswire.com/ — Rising construction spending is expected to propel growth in the global fiber cement market. With the increase in the construction industry, the use of high efficiency and durable fiber cement in the exterior of residential and commercial spaces due to its characteristics which include the wear resistance of concrete as well as the benefit of residential space has increased. For example, according to the Office of National Statistics UK, monthly construction output increased by 3.5% in volume in November 2021. Additionally, according to Invest India, a national investment promotion and facilitation agency based in India, the construction industry in India is expected to reach USD 1.4 trillion by 2025. Hence, increasing expenditure in construction is driving the growth of the fiber cement market.
In November 2021, Lonsa Group Limited, a Mauritian investment entity based in London, acquired Everite, a South African-based company specializing in the production and distribution of fiber cement, for an amount of 600 million rubles (9, $5 million). With this acquisition, the activities, assets and companies of the Everite group, including the third of the freehold property, are acquired by the Lonsa company.
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The global fiber cement market size is expected to grow from USD 14.37 billion in 2021 to USD 15.40 billion in 2022 at a compound annual growth rate (CAGR) of 7.13%. Fiber cement market growth is mainly driven by companies reorganizing their operations and recovering from the impact of COVID-19, which previously led to restrictive lockdown measures involving social distancing, remote working and the closure of business activities that resulted in operational disruptions. challenges. The global fiber cement market share is expected to reach $21.30 billion in 2026 with a CAGR of 8.45%.
Technological advancements are a key trend that is gaining popularity in the fiber cement market. Fiber cement manufacturing companies are developing new products with the latest technology to meet the demand of customers from various industries. For example, James Hardie, a fiber cement technology manufacturer based in Ireland introduced three new products which are, hardieSoffit®artisan® Shingle, VentilatedPlus™ Panel and Hardiebacker® Cement board with hydrodefense™ technology. Artisan® The shingle works on higher airflow soffits and is the industry’s first waterproof cement backer board.
The major players covered in the global fiber cement market are American Fiber Cement Corporation, Cembrit Holding, CSR Limited, Etex Group, James Hardie Industries PLC, Nichiha Corporation, Plycem, SCG Building Materials, Shandong cement, Zykron, Allura, Alpha Roofing industries, LLC. , GAF and Swiss Pearl.
The global Fiber Cement market report by TBRC is segmented by Cellulosic Fiber Raw Material, Portland Cement, Silica, by Application in Siding, Roofing, Siding, Trim & Trim, Other, by End User in Residential, Non-Residential.
Global Fiber Cement Market Report 2022 – By Raw Material (Cellulosic Fiber, Portland Cement, Silica), By Application (Siding, Roofing, Coating, Casting & Cutting), By End User (Residential, Non-Residential) – Market Size, Trends, And Global Forecasts 2022-2026 are part of a series of new reports from The Business Research Company that provide fiber cement market overview, forecast fiber cement market size and growth for the overall market, fiber cement market segments, geographies, fiber cement market trends. , Fiber Cement Market drivers, restraints, revenue, key competitor profiles and market share.
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