Global Fiber Cement market is expected to grow at a CAGR of 5.6% during 2021-2026

Fiber cement is also known as reinforced fiber cement. It is a composite building and construction material that offers superior physical properties such as a high level of toughness and durability. It is majorly used in façade and roofing products.
DELTA, British Columbia - April 19, 2021 - PRLog -- According to the MarkNtel Advisors' research report, "Global Fiber Cement Market Analysis, 2021", the market is expected to grow at a CAGR of 5.6% during 2021-26. The demand for fiber cement is significantly increasing owing to its property of resistance to fire, water, and impact. The fiber cement is extensively used in sidings due to its low maintenance nature and the fact that it can enhance the aesthetic appeal of the particular building. Further, fiber cement provides resistance to fungi, mold, and bacteria, thereby, leading to increased durability. Thus, these factors are expected to drive the demand for fiber cement products.

Polypropylene Segment Dominates the Market

Based on the Fiber type, the Polypropylene segment has held the largest share in the global fiber cement market in 2019 owing to its properties such as toughness, strength, high-temperature resistance, and affordable price. Further, the demand for polypropylene fiber is high owing to its capability of resisting harsh weather conditions, chemical attack, and other degradation processes. Along with this, polypropylene fiber requires low maintenance. Thus, the segment is expected to contribute to the growth of the market.

"Global Fiber Cement Market Analysis, 2021" provides comprehensive qualitative and quantitative insights on the market potential, key factors impacting market growth, hotspots and opportunities available for Fiber Cement providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

Non-Residential Segment Exhibits Fastest Growth

Based on the End-Users, the non-residential segment is anticipated to grow at a significant rate over the forecast period. The non-residential segment comprises agricultural, industrial, and commercial buildings. Fiber cement is majorly used in industrial construction such as factories and warehouses because of the ban on the use of asbestos. Thereby, the segment is projected to contribute to the growth of the global Fiber Cement market in the forecast period as revealed by MarkNtel Advisors' research report "Global Fiber Cement Market Analysis, 2021".

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