Report : Europe Fiber Cement Board Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Low-Density Fiberboard, Medium-Density Fiberboard, and High-Density Fiberboard) and End User (Residential and Non-Residential)
At 5.6% CAGR, the Europe Fiber Cement Board Market is speculated to be worth US$ 419.18 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Europe fiber cement board market was valued at US$ 287.17 million in 2021 and is expected to reach US$ 419.18 million by 2028, registering an annual growth rate of 5.6% from 2021 to 2028. Superiority of fiber cement boards and surge in use of fiber cement boards in the residential sector are the critical factors attributed to the market expansion.
Architects and customers have extensively acknowledged and appreciated fiber cement board’s extensive list of advantages, with many opting for fiber cement board solutions. Durability is one of the most desirable qualities of fiber cement boards. Fiber cement siding typically outlasts vinyl siding in lifespan. Within 10 to 15 years, vinyl siding can show signs of aging; however, fiber cement siding can last up to 30 to 50 years or more. Further, in cement production, the greenhouse gas carbon dioxide is a byproduct; however, manufacturing vinyl siding, which contains polyvinyl chloride (PVC), produces twice as much carbon dioxide. Moreover, vinyl siding off-gases throughout its lifetime and continues to do so as it occupies a space landfill. Hence, fiber cement siding is a greener alternative to vinyl siding. There are various benefits of fiber cement board siding over vinyl or other alternatives. Fiber cement siding requires less frequent re-painting as it holds paint well. Fiber cement siding doesn't rot, unlike wood siding, and will not dent, such as steel siding. Compared to gypsum boards, fiber cement boards stand strong in the presence of moisture and leaks. These fiber cement boards possess excellent moisture absorbing and drying properties, making them resistant to weather changes and driving the market. Fiber cement boards are fireproof, insect resistant, and perform well in natural disasters. Fiber cement boards have very good sound insulation properties. These properties make it suitable for building good quality and long-lasting homes. Further, fiber cement boards are available in various styles, including panels and shingles. They are also available in baked-on, prefinished colors that don’t require painting. Hence, the superior properties of fiber cement boards as compared to other substitute products result in their increasing usage in flooring, making furniture, wall cladding, etc., thus driving the fiber cement board market growth across the region.
On the contrary, high cost of installation hurdles the growth of Europe fiber cement board market.
Based on type, the Europe fiber cement board market is segmented into low density fiberboard, medium density fiberboard, and high-density fiberboard. The medium density fiberboard segment held 50.0% market share in 2021, amassing US$ 143.61 million. It is projected to garner US$ 215.66 million by 2028 to expand at 6.0% CAGR during 2021–2028.
Based on end user, the Europe fiber cement board market is segmented into residential and non-residential. The residential segment held 57.6 % market share in 2021, amassing US$ 165.31 million. It is projected to garner US$ 245.41 million by 2028 to expand at 5.8 % CAGR during 2021–2028.
Based on country, the Europe fiber cement board market is segmented into the Germany, France, Italy, UK, Russia, and Rest of Europe. Our regional analysis states that the UK captured 21.1% market share in 2021. It was assessed at US$ 57.51 million in 2021 and is likely to hit US$ 92.89 million by 2028, exhibiting a CAGR of 6.3% during the forecast period.
Key players dominating the Europe fiber cement board market are Beijing Hocreboard Building Materials Co. Ltd.; Cembrit Holding A/S; Dow Inc.; Hume Cemboard Industries Sdn Bhd; NICHIHA Co., Ltd; SAINT GOBAIN S.A.; SCG Building Materials Co., Ltd.; and Tepe Betopan A.Ş. among others.
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