At 7.0% CAGR, the Asia Pacific Fiber Cement Market is projected to be worth US$ 10,290.64 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific fiber cement market was valued at US$ 6,840.46 million in 2022 and is expected to reach US$ 10,290.64 million by 2028, registering a CAGR of 7.0% from 2022 to 2028. Growing awareness regarding benefits of fiber cement and surging demand for energy-efficient buildings are the critical factors attributed to the Asia Pacific fiber cement market expansion.

The building construction industry is increasingly focusing on encouraging developments of sustainable construction for a healthy and environmentally friendly living. Regular cement requires different raw materials, including water, during production, while fiber cement relies on recycled materials and consumes fewer resources. With water crises in certain areas, using materials that reduce water usage is necessary. Further, fiber cement products are not made of natural materials but have several advantages over renewable resources like wood. Rapid deforestation is a major environmental concern, so wood construction materials can fuel unsustainable forestry practices. As fiber cement siding lasts longer, they are preferable to wood siding and others that need to be replaced often. The higher replacement of siding results in high waste accumulation in local landfills. Fiber cement products do not use fossil fuels to produce vinyl construction material. Thus, due to an increasing preference for sustainability and a focus on eco-friendly building materials, there will be an increase in the development of eco-friendly fiber cement in the coming years.

On the contrary, high cost of installation hampers the Asia Pacific Fiber Cement Market.  

Based on type, the Asia Pacific fiber cement market is segmented into air-cured and autoclaved. The autoclaved segment held 82.6% share of Asia Pacific Fiber Cement Market in 2022, amassing US$ 5,652.40 million. It is projected to garner US$ 8,451.99 million by 2028 to expand at 6.9% CAGR during 2022–2028. 

Based on application, the Asia Pacific fiber cement market is segmented into roofing, outside siding or façade, and others. The roofing segment held 45.3% share of Asia Pacific Fiber Cement Market in 2022, amassing US$ 3,095.48 million. It is projected to garner US$ 4,836.94 million by 2028 to expand at 7.7% CAGR during 2022–2028.

Based on end- use, the Asia Pacific fiber cement market is segmented into residential and non-residential. The residential segment held 53.6% share of Asia Pacific Fiber Cement Market in 2022, amassing US$ 3,667.90 million. It is projected to garner US$ 5,678.20 million by 2028 to expand at 7.6% CAGR during 2022–2028.

Based on country, the Asia Pacific fiber cement market  has been categorized into Australia, China, India, Japan, South Korea, the Rest of Asia Pacific. Our regional analysis states that China captured 38.2% share of Asia Pacific Fiber Cement Market in 2022. It was assessed at US$ 2,610.72 million in 2022 and is likely to hit US$ 3,988.68 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.

Key players dominating the Asia Pacific fiber cement market are Century Plyboards Ltd; Compagnie de Saint Gobain SA; CSR Ltd; Etex NV; Everest Industries Ltd; Isam Khairi Kabbani Group; James Hardie Industries plc; NICHIHA Corp; and Swisspearl Group AG, among others.

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