The siding segment contributed to the lion’s share in 2020, holding more than half of the global fiber cement market. Fiber cement siding is a building material which is made of sand, cement and cellulose fibers used in residential or non-residential areas to cover the exterior of a building. Rise in the number of residential as well as non-residential projects across the world fuels the segment growth. However, the molding and trim segment is projected to manifest the fastest CAGR of 4.91% from 2021 to 2030.
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The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The market across Asia-Pacific, followed by Europe and North America, dominated in 2020, garnering nearly half of the global fiber cement market. The same region is also expected to cite the fastest CAGR of 4.81% throughout the forecast period, due to the increasing demand for residential construction in the province.
This makes it important to understand the practical implications of the Fiber cement market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
The Portland cement segment held the major share in 2020, garnering nearly half of the global fiber cement market. This is because Portland cement is one of the most common types of cement used as a basic ingredient of concrete, mortar, and stucco. The cellulosic fiber segment, on the other hand, is projected to cite the fastest CAGR of 5.09% throughout the forecast period.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players Etex Group NV, James Hardie Industries PLC, Evonik Industries AG, Compagnie De Saint Gobain SA, Toray Industries Inc., CSR Limited, The Siam Cement Public Company Limited, Nichiha Corporation, Plycem Corporation, and Cembrit Holding A/S. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
According to the report published by Allied Market Research, the global fiber cement market was estimated at $16.4 billion in 2020 and is expected to hit $24.4 billion by 2030, registering a CAGR of 4.11% from 2021 to 2030.
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The current situation of pandemic makes it very important for the stakeholders in the Fiber cement market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
The growing need for curbing the overall carbon emission from the building & construction sector drives the growth of the global fiber cement market. On the other hand, lack of skilled labor in the developing countries hampers the growth to some extent. However, factors such as rapid urbanization and industrialization, booming construction industry, high efficiency of fiber cement products, and ban on asbestos cement products are expected to create lucrative opportunities in the industry.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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