The scope of our recent study on " Fiber Cement Board Market to 2028 - COVID-19 Impact and Global Analysis - by Type (Low-Density Fiber Cement Board, Medium Density Fiber Cement Board, High-Density Fiber Cement Board) and End User (Residential and Commercial),"includes the factors governing the market growth, revenue estimation and forecast, and market share analysis. It also entails the identification of significant market players and their key developments.

The fiber cement board market is expected to grow from US$ 1,682.42 million in 2021 to US$ 2,339.16 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.

Fiber cement boards are composed of sand, cement, and cellulose fibers. They are made of Portland cement and have a glass-fiber mesh on the surface. These boards can be used alone or in conjunction with plywood. They are highly resistant to water, fire, and termites, which makes them an excellent choice for constructing high-quality, long-lasting furniture and structures.

Based on end user, the fiber cement board market is segmented into residential and commercial. In 2020, the residential segment dominated the market. Furthermore, the fiber cement board market for this segment is expected to grow at a faster CAGR during the forecast period. Fiber cement boards have become a common option for residential building construction as they outperform plywood and other materials. Fiber cement boards are preferred over gypsum boards due to their greater resistance to moisture and leakage. Fiber cement boards have excellent moisture absorption and drying qualities, which make them weather durable.

The fiber cement board market is segmented into five main regions-North America, Europe, Asia-Pacific (APAC), the Middle East & Africa (MEA), and South & Central America (SCAM). In 2020, Asia Pacific dominated the global market. The growth of the Asia Pacific fiber cement board is attributed to the proliferation of various end-user industries in the region, the prevalence of international manufacturers such as, Nichiha Co., Ltd, & Saint Gobain S.A., and increased environmental awareness and concerns across the region. Factors such as the growing packaging industry, government policies encouraging environment-friendly products, and investments by key market players also support the fiber cement board market growth in the region.

Impact of COVID-19 Pandemic on Fiber Cement Board Market

The COVID-19 pandemic adversely affected the fiber cement board market in 2020 due to the shutdown of manufacturing facilities, and restrictions on transportation and logistics. Disruptions in supply chains also hampered the supply of fiber cement boards. To comply with national and regional guidelines, manufacturers introduce extensive modifications to their processes to protect their employees from the SARS-CoV-2 infection. Many global manufacturers temporarily paused their operations or allowed production processes with limited employee strength. As per a survey conducted by the Associated General Contractors (AGC) of America, since March 2020, 30% of construction projects of various companies have been delayed due to government orders, 37% were stopped due to owners' requests, and 67% projects were delayed or canceled due to funding issues. Despite these consequences, businesses started recovering as the governments of various countries brought relaxation in social restrictions. Moreover, successful vaccination drives have further eased the current scenario leading to a rise in business activities across the world. The recovery of various end-use industries is also driving the fiber cement board market.

The " Fiber Cement Board Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the market trend analysis. The report aims to provide an overview of the market with detailed segmentation. The fiber cement board market is segmented on the basis of type, end user, and geography. Based on type, the market is segmented into low-density fiber cement board, medium density fiber cement board, and high-density fiber cement board. Based on end-user, the fiber cement board market is segmented into residential and commercial. Based on geography, the market is segmented into five main regions-North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. In 2020, Asia Pacific dominated the fiber cement board market. However, Europe is expected to register the highest CAGR in the market during the forecast period. Factors such as durability, dimensional stability, and zero toxicity support the substitution of asbestos products with fiber cement boards, which favors the fiber cement board market growth in Europe.

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