The U.S. fiber cement market size was USD 2.25 billion in 2022 and is anticipated to expand at a CAGR of 4.0% over the study period.
Combining cellulose fiber with other cement materials, fiber cement provides complete design flexibility to building contractors and engineers, enabling the creation of both straightforward and highly sophisticated structures such as cinema halls, airports, and malls. The U.S. government's encouragement of construction activities focused on green buildings, contributes to the product’s increased consumption in the country.
The preventive measures taken by companies, including manufacturing halts, as a response to the COVID-19 pandemic, directly hindered the growth of the market within the construction industry.
Report Coverage:
The report delves into market trends and significant industry advancements by examining leading companies, applications, and products. It analyzes various variables contributing to recent market growth, exploring the opportunities, historical data, and latest dynamics with revenue growth estimates at the country levels.
Drivers and Restraints:
The surge in fiber cement demand is attributed to its heightened utilization as an advanced building material in the construction industry, meeting the evolving needs of modern construction practices. Moreover, urbanization and industrialization in developing countries have fueled residential constructions, leading to increased migration to metro cities. This trend boosts the demand for these products as a key raw material in constructing various elements such as paving tiles, cladding, and sliding for exterior walls, contributing to the U.S. fiber cement market growth.
However, the rising health-related problems such as sinus and asthma caused by fibrous materials dissolving in the air significantly hinder market growth.
Competitive Landscape:
Saint-Gobain, Evonik Industries, and Nichiha Corporation dominate the competitive landscape of the market. Competing on product price and application characteristics, industry players focus on driving innovation, leveraging social marketing, and engaging in strategic acquisitions and collaborations.
List of Key Players Mentioned in the Report:
- James Hardie Industries PLC (Ireland)
- ETEX Group (Belgium)
- Evonik Industries (Germany)
- Saint Gobain (France)
- Nichiha Corporation (Japan)
- plycem corporation (Costa Rica)
- Elementia Materiales (U.S.)
- Soben International (Scotland)
Information -https://www.fortunebusinessinsights.com/u-s-fiber-cement-market-109062
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