Market Overview:
According to our latest market study on “Fiber Cement Siding Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Material, Type, and End-User,” the market was valued at US$ 3,963.50 million in 2021 and is projected to reach US$ 6,229.51 million by 2028; it is expected to grow at a CAGR of 6.7% from 2021 to 2028.
Get Sample PDF: https://www.theinsightpartners.com/sample/TIPTE100001095/
The fiber cement sidings provide multiple opportunities to builders, contractors, and homeowners in terms of attracting customers, generating revenues, and helping in expanding their business globally. Fiber cement siding offers a better exterior look of the house at an affordable price compared to its alternatives and is also fire and heat resistant. Fiber cement has a flame spread rating of 0, which is similar to a brick. Also, the fiber cement siding is highly weather-resistant and can easily bear extreme heat and humid conditions.
Further, the fiber cement sidings require minimum maintenance, which provides an advantage to the customer. Also, the installation of fiber cement sidings can be done effortlessly by homeowners, which is why it is called the Do-It-Yourself (DIY) concept. These fiber cement sidings are available in several styles and colors, helping homeowners save on painting costs.
The fiber cement sidings comprise more benefits than its alternatives, which help attract a lot of customers worldwide. Moreover, the growing market helps attract third-party suppliers for delivering products to customers, which collectively acts as a factor in creating opportunities for the builders, contractors, and homeowners in terms of more revenue generation and business expansion.
Based on material, the fiber cement siding market is segmented into portland cement, silica, cellulosic fiber, and others. In 2021, the portland cement segment led the market and accounted for the largest market share. Based on type, the market is segmented into clapboard, shingles, and stone or stucco. In 2021, the clapboard segment led the market and accounted for the largest market share. Based on end-user, the market is segmented into residential and commercial. In 2021, the residential segment led the market and accounted for a larger market share. Geographically, the market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM). In 2021, North America accounted for a significant share of the global fiber cement siding market.
Buy Now: https://www.theinsightpartners.com/buy/TIPTE100001095/
Impact of COVID-19 Pandemic on North America Fiber Cement Siding Market
North America is one of the most prominent markets of fiber cement siding, owing to the presence of a large number of manufacturers and higher demand from end users. Also, due to the implementation of government policies, boosting innovation, presence of a huge industrial base, and high purchasing power of people and businesses, especially in developed countries such as the US and Canada helps in the market growth. For instance, the Canadian construction industry is witnessing growth in a few major cities, such as Toronto and Vancouver. In these cities, developers are registering good profits on investment, mainly with high-density residential projects. In 2020, the limited availability of workforce, shortage of materials and supplies, reduction in productivity rates, and suspension and cancellation of projects/contracts hindered the fiber cement siding market growth. For example, in June 2020, the renovation work carried out at the University of Delaware’s Worrilow Hall academic building was also initially impacted by COVID-19. The contractors had to revise their project plans to overcome the effects of the scarcity of materials and workers. According to a national survey conducted by the Associated General Contractors of America (AGCA), out of 1,077 respondents, 78% of the contractors responded that they were experiencing project delays. However, since the late Q3 of 2020, the construction sector started to operate with ease with the relaxation of lockdown rules, thereby reporting a rise in demand for fiber cement siding.
The key players operating in the global fiber cement siding market include Allure; Cembrit Holding A/S; CSR LIMITED; ETEX GROUP; GAF; James Hardie Industries plc; NICHIHA Co., Ltd; TORAY INDUSTRIES, INC.; and SHERA Public Company Limited. Several other market players have been analyzed to understand the market.
About Us:
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
Contact Us:
If you have any queries about this report or if you would like further information, please contact us:
Contact Person: Sameer Joshi
E-mail: sales@theinsightpartners.com
Phone: +1-646-491-9876
0
