Report : Middle East 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)
Increasing Use of Fiber Cement Boards in Residential Sector Drives Middle East Fiber Cement Board Market Growth
According to our latest market study on "Middle East Fiber Cement Board Market Forecast to 2028 – COVID-19 Impact and Analysis – by Type (Low-Density Fiberboard, Medium-Density Fiberboard, and High-Density Fiberboard) and End User (Residential and Non-Residential),” the market is expected to grow from US$ 215.85 million in 2021 to US$ 314.91 million by 2028. It is expected to grow at a CAGR of 5.5% from 2021 to 2028. The report highlights key factors governing the growth and discusses prominent players and their progress in the market.
Fiber cement boards are increasingly used to substitute for plywood, gypsum board, and other masonry work. These boards are considered an ideal solution for flooring, wall/cladding, and fire-rated partitions.
Residential construction activities in the Middle East are increasing, with countries, such as the UAE and Saudi Arabia witnessing a high demand for residential units. In Saudi Arabia, various government initiatives, the rapid growth of the country’s population, and urbanization trends are fueling the residential construction sector. Saudi Vision 2030 plan is also driving construction activities, including the residential segment. Thus, as the residential construction industry is growing, the demand for fiber cement boards is increasing due to their usage in various residential applications.
Fiber cement boards have acoustic properties and high strength, making them ideal for various residential applications, such as flooring, external cladding, internal and external linings, and fire-rated partitions. These boards are also used as a substrate for tiling. The thermal and fire-resistant properties of these boards are fueling their demand in kitchens as well. Along with this, these boards are used as cavity walls for interior partitions. Thus, the widespread application of fiber cement boards in the Middle East residential sector is driving the Middle East fiber cement board 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. 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 Middle East fiber cement board market growth.
Tepe Betopan A.Ş., SAINT GOBAIN S.A., Hume Cemboard Industries Sdn Bhd, IKK Group, ACFA Building Solution, Danube Group, United Mining Industries, Cladme, Qatar International Trading Co. LTD, and MADA GYPSUM are the key players in the Middle East fiber cement board market.
Impact of COVID-19 Pandemic on Middle East Fiber Cement Board Market Growth
Before the onset of the COVID-19 pandemic, the expansion in the construction industry across the Middle East and the increased awareness about the superior properties of fiber cement boards drove the market. The COVID-19 pandemic negatively impacted the market due to the shutdown of manufacturing facilities, challenges in procuring raw materials and components, and restrictions on logistic operations. Disruptions in the raw material supply chains and containment measures further hampered the fiber cement board production.
In the construction industry, the pandemic led to delays, rising costs, disruption in supply chains, and a shortage of skilled labor, which negatively impacted the Middle East's fiber cement board market. However, businesses are gaining pace as the governments of Middle Eastern countries have eased out the previously imposed restrictions. Along with this, an increase in new construction projects and the resumption of ongoing projects in the Middle Eastern Union are supporting the market revival.
The "Middle East Fiber Cement Board Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry, focusing on the Middle East fiber cement board market trend. The report aims to provide an overview of the market with detailed market segmentation. The market is analyzed on the basis of type and end user. Based on type, the market is segmented into low-density fiberboard, medium-density fiberboard, and high-density fiberboard. Based on application, the market is segmented into residential and non-residential. The medium density fiberboard segment held the largest share of the Middle East fiber cement board market in 2020. The increasing use of medium density fiberboard in wet areas, such as the basement, kitchen, and restrooms, and its application as a ceiling board, are aiding this segment’s growth in the Middle Eastern countries.Contact Us
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