The global fiber cement market size was valued at USD 13.15 billion in 2023 and is projected to grow from USD 13.60 billion in 2024 to USD 18.41 billion by 2032, exhibiting a CAGR of 3.8% during the forecast period. An advanced material used in construction, fiber cement is made of cellulosic fiber, portland cement, and silica that augments elasticity and structural strength of products. The materials’ advantages over traditional cements increase their demand, propelling the growth of the market during the projected period. Fortune Business Insights presents this information in their report titled "Global Fiber Cement Market, 2025–2032."
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Segments:
Wide Availability and Cost Effectiveness Augments Portland’s Growth
By material, the market is classified into portland, silica, cellulosic, and others. Portland holds the largest fiber cement market share, owing to advantages offered such as temperature reduction of ceiling walls, cost-effective, and wide availability propels growth.
Siding Dominates Market with Several Advantages over Other Products
By application, the market is categorized into siding, roofing, cladding, molding & trimming, and others. Siding dominates the market with its robust properties that include significant tensile strength, structural flexibility, crackproof, and low maintenance cost.
Rise in Urbanization Drives Dominance of Residential Segment
By end-use, the market is bifurcated into residential and non-residential. Rapid urbanization, increasing population, and growing construction activities drive the growth of the residential segment.
Drivers and Restraints
Robust Properties of Fiber Cement Increases Demand Bolstering Market Growth
Considered as an advanced material in the construction sector, the product has witnessed prolific demand in recent years. The younger population has been observed to shift toward urban areas to experience a better lifestyle, which has surged construction activities giving rise to product demand. Growing industrialization and high demand are anticipated to upscale the fiber cement market growth.
However, strict laws regarding the use of fibrous silicate minerals and health issues associated with it are likely to limit the product’s adoption.
Regional Insights
Asia Pacific Driven by Growing Surge in Residential Projects
Asia Pacific dominates the market and held a market revenue in 2022 for USD 5.49 billion. The growth of the market can be attributed to rising population and increasing residential projects along with surge in exterior and interior designing activities.
North America to observe growth with increasing demand for fiber cement for safety and aesthetic appeal it provides to residential projects.
Competitive Landscape
Strong Regional Presence Solidifies Market Leaders Position