"Global Fiber Cement Market accounted for USD 15.28 Billion in 2019 and is expected to reach USD 22.08 Billion by 2026 growing at a CAGR of 5.4% during the forecast period from 2019 to 2026"
The growing construction activities in various regions and rapid industrialization are poised to register demand for fiber cement products. Furthermore, increased investment in the infrastructure sector offers opportunities to market players. At the same time, the lack of skilled labor in developing countries hinders the growth of the global fiber-cement industry.
Residential Sector segment are expected to have the highest CAGR in fiber cement market during the forecast period.
Based on the type, the residential sector segment is dominating the fiber cement Market during the forecast period. On account of the rising middle-class population, coupled with increasing disposable incomes, has facilitated an expansion in the middle-class housing segment. Thus, there is expected to be an increase in the use of fiber cement, within the segment, during the forecast period.
North America is expected to grow at XX% CAGR in fiber cement market during the forecast period.
Based on region, North America expected to hold the largest market growth in terms of demand for fiber cement products. The homeowners in the U.S. have focused on renovation activities such as countertops, bathroom, ceiling, and interior remodeling to boost the demand for fiber cement backer boards and other products. Therefore, the region is expected to have the fastest-growing region in the global market by 2026.
Key Findings of the Study:
The Fiber Cement Market report contains an in-depth analysis of major drivers, opportunities, challenges, industry trends and their impact on the market. The Fiber Cement Market report also provides data about the company and its strategy. This research report also adds a snapshot of key competition, market trends during the forecast period, expected growth rates and the primary factors driving and impacting growth market data. This information will be beneficial or helpful to the decision-makers.