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Europe Fiber Cement Market: Segments: By Application (Siding, Trim, Panel, Roofing, Flooring, Blacker Board, Piping and Others); By End Use (Residential and Commercial Sectors) and Region -Analysis of Market Size, Share and Trends for 2014 - 2019 and Forecasts to 2030
Europe Fiber Cement Market to surpass USD 20.1 Billion by 2031, which is valued at 11.3 billion in 2021 at a compound annual growth rate of 4.4%
Fiber cement is a composite construction material of Portland cement, silica, wood fibers, and water used in both the residential and industrial sectors. Fiber cement products possess superior properties such as high resilience, water resistance, stability, strength, and thermal insulation. Professional producers, homeowners, and contractors tend to cement items. These products also have low maintenance costs and are primarily used in siding, roofing, trimming, and other areas. Worldwide, the new construction industry is discovering the special and revolutionary advantages of using fiber cement in different building applications. In such industrial applications, the primary function of fiber cement is to boost performance characteristics while raising the commercial value of construction & building materials.
The prohibition on the use of industrial chemicals also fuels the adoption of fiber cement products which has increased demand for fiber cement siding, planks, boards, and other products. Europe is also emerging as a profitable market for global fiber cement stakeholders, as the construction sector is taking shape across its leading economies-just like Germany. The Federal Statistics Office recently announced that it has issued permits for more than 72,000 new residential buildings and almost 12,500 existing ones. Over the coming years, this is expected to strengthen public-private collaborations over Germany's construction sector and potentially open doors to new lucrative opportunities for leading players in the European fiber-cement industry.
The siding segment is anticipated to register XX% of the market share during the forecasted period.
By application, it is categorized into the siding, trim, panel, roofing, flooring, blacker board, piping, and others. The siding segment is expected to hold the largest CAGR in the forecasted period. Due to its durability, termites and water resistance, fire retardant properties, and low maintenance, homeowners prefer the fiber cement siding over vinyl siding. The growth of customer interest in fiber cement boards, sheets, slates, and other goods has created lucrative opportunities for manufacturers of fiber cement to sell different products in darker tones and natural hues.
Commercial segment accounted for XX% of the nation’s volume in 2019
The end-user segment can be classified into residential and commercial sectors. Owing to the large-scale installation of fiber cement products in industrial infrastructure projects, the commercial sector segment generated the highest revenue. Due to the rapid urbanization in Europe's developing regions, however, the residential sector is also expected to experience rapid growth during the forecast period. The region segment can be further divided into five major types including UK, Germany, France, Italy, Spain, and others.
Increased awareness and government regulations to drive the market demand
The development of the European fiber cement industry is driven by the restoration of old buildings in countries like Italy, Rome, and Spain. The prohibition on the use of industrial chemicals also fuels the adoption of fiber cement products which has increased demand for fiber cement siding, planks, boards, and other products. Additionally, increased investment by government agencies in infrastructure development has also supplemented the growth of the fiber cement market. Furthermore, the surge in construction activities, especially in the residential sector, also acts as a driving force in boosting the growth of the European fiber cement market.
In terms of value and volume, Europe accounted for XX% of total market volume share in 2019
Europe is also emerging as a profitable market for global fiber cement stakeholders, as the construction sector is taking shape across its leading economies-just like Germany. The Federal Statistics Office recently announced that it has issued permits for more than 72,000 new residential buildings and almost 12,500 existing ones. Over the coming years, this is expected to strengthen public-private collaborations over Germany's construction sector and potentially open doors to new lucrative opportunities for leading players in the European fiber-cement industry. The region segment can be further divided into five major types including UK, Germany, France, Italy, Spain, and others.
Some factors that improve the role in the market of the key players within the Fiber Cement Market have been the diversified applications, increased awareness, the introduction of stringent regulations by the government, and increased demand.
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