Fiber Cement Board Market Size Worth $15.3 Billion by 2031 | CAGR: 4.7%: AMR
PORTLAND, OREGON, UNITED STATES, April 2, 2024 /EINPresswire.com/ — Allied Market Research has recently published a report on the global fiber cement board market, revealing that it reached $9.7 billion in 2021 and is anticipated to hit $15.3 billion by 2031, with a CAGR of 4.7% from 2022 to 2031. The report offers an in-depth analysis of market dynamics, key segments, the value chain, competitive landscape, and regional outlook. This research serves as a valuable guide for leading players, investors, shareholders, and startups in formulating strategies for sustainable growth and gaining a competitive edge in the market.
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Fiber cement board, an environmentally friendly construction material made of Portland cement, sand, and cellulose fiber, is experiencing growth due to its increased usage in flooring, wall cladding, and pre-fabricated shelters. The trend of using fiber cement boards in pre-fabricated shelters and homes for walls, floors, roofs, shelves, and windows & door frames is driving market demand. These boards are easily transportable and require minimal labor, thus reducing construction costs, which further boosts market growth.
The report provides detailed segmentation of the global fiber cement board market based on product type, application, and region, discussing each segment and its sub-segments comprehensively with the help of tables and figures. Market players and investors can strategize based on the highest revenue-generating and fastest-growing segments identified in the report.
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In terms of product type, the Medium density fiber cement board segment held the highest share in 2021, accounting for nearly half of the global market and is expected to maintain its dominance throughout the forecast period. However, the High density fiber cement board segment is projected to register the highest CAGR of 5.1% from 2022 to 2031.
Regarding applications, the Wall cladding and panels segment dominated in 2021, contributing around two-fifths of the global market share and is likely to maintain its lead in terms of revenue during the forecast period. Meanwhile, the Flooring segment is expected to witness the highest CAGR of 5.1% from 2022 to 2031.
Regionally, North America held the largest share in 2021, contributing to more than one-third of the total market share and is expected to maintain its dominant position in terms of revenue by 2031. Additionally, the Asia-Pacific region is forecasted to exhibit the fastest CAGR of 5.3% during the forecast period. The research also covers regions such as Europe and LAMEA.
๐๐ง๐ญ๐๐ซ๐๐ฌ๐ญ๐๐ ๐ข๐ง ๐๐ซ๐จ๐๐ฎ๐ซ๐ข๐ง๐ ๐ญ๐ก๐ข๐ฌ ๐๐๐ฉ๐จ๐ซ๐ญ? ๐๐ข๐ฌ๐ข๐ญ ๐๐๐ซ๐: https://www.alliedmarketresearch.com/fiber-cement-board-market/purchase-options
Key market players analyzed in the report include Beijing Hocreboard Building Materials Co. Ltd. (HBD), HIL Limited, Century Plyboards (India) Limited, Everest Industries Limited, Saint Gobain, Sahyadri Industries Limited (SIL), Toray Industries Inc., Visaka Industries, REXLER, and Sarex. These players have adopted various strategies such as new product launches, collaborations, expansions, joint ventures, agreements, etc., to increase their market share and maintain dominance in different regions. The report provides a detailed analysis of their business performance, operating segments, product portfolio, and strategic moves, thereby highlighting the competitive scenario in the market.
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