Fiber Cement Market Projected to Obtain USD 20.3 Billion by 2025

(IT-NEWSWIRE.COM, February 23, 2023 ) According to the report "Fiber Cement Market by Material (Portland Cement, Application (Siding, Molding & Trim, Backer boards, Flooring, Roofing, Wall Partitions), End use (Residential, Non-residential) and Region - Global Forecast To 2025", the global fiber cement market is expected to grow from USD 16.4 billion in 2020 to USD 20.3 billion by 2025, at a compound annual growth rate (CAGR) of 4.4% from 2020 to 2025.

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The report provides a comprehensive analysis of the fiber cement market, including market size, market share, market trends, growth drivers, challenges, opportunities, and competitive landscape. The market is segmented by material (Portland cement, fly ash/slag, and others), application (siding, molding & trim, backer boards, flooring, roofing, wall partitions, and others), end use (residential and non-residential), and region (North America, Europe, Asia Pacific, Middle East & Africa, and South America).

The siding application segment is expected to hold the largest share of the fiber cement market during the forecast period, due to the growing demand for low-maintenance and durable sidings in the construction industry. The residential end-use segment is expected to dominate the market during the forecast period, owing to the increasing demand for affordable and sustainable housing.

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Geographically, the Asia Pacific region is expected to dominate the fiber cement market during the forecast period, due to the growing construction industry in emerging economies such as China and India. North America and Europe are also significant markets for fiber cement, due to the increasing demand for sustainable and eco-friendly construction materials.

R Etex Group NV (Belgium), James Hardie Industries PLC (Ireland), Evonik Industries AG (Germany), Toray Industries Inc (Japan), and CSR Limited (Australia), are the key players operating in the fiber cement market. Expansions & investments, and acquisitions are some of the significant strategies adopted by these key players to enhance their positions in the fiber cement market.

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Fiber Cement Market Projected to Obtain USD 20.3 Billion by 2025