(MENAFN- EIN Presswire) EINPresswire/ -- The global fiber cement market is experiencing steady growth, driven primarily by the increasing emphasis on reducing carbon emissions in the building and construction sector. According to a report by Allied Market Research titled“Fiber Cement Market by Raw Material, Construction Type, and End Use: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the market was valued at $16.4 billion in 2020 and is projected to reach $24.4 billion by 2030, registering a CAGR of 4.11% during the forecast period.

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Market Drivers, Restraints, and Opportunities:

- The push to lower overall carbon emissions in construction activities is a major driver of market expansion. However, the lack of skilled labor in developing countries remains a challenge. At the same time, rapid urbanization and industrialization, strong growth in the construction sector, the superior performance and durability of fiber cement materials, and regulatory bans on asbestos cement products are generating significant growth opportunities.

Raw Material Insights:

- The Portland cement segment dominated the market in 2020, accounting for nearly half of global revenue due to its widespread use in concrete, mortar, and stucco. The cellulosic fiber segment is projected to grow the fastest, registering a CAGR of 5.09% through 2030.

Construction Type Insights:

- The siding segment held the largest share in 2020, driven by increasing residential and non-residential construction activities. Meanwhile, the molding and trim segment is forecast to grow at the highest rate, with a CAGR of 4.91% during the forecast period.

Regional Highlights:

- Asia-Pacific followed by Europe and North America led the global market in 2020, representing nearly half of total demand. Asia-Pacific is also expected to expand at the fastest pace, supported by rising residential construction activity.

Key Market Players:

- James Hardie Industries PLC
- Evonik Industries AG
- Toray Industries Inc.
- CSR Limited
- Etex Group NV
- Nichiha Corporation
- Plycem Corporation
- Cembrit Holding A/S
- Compagnie de Saint-Gobain SA
- The Siam Cement Public Company Limited

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Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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