North America Fiber Cement Market
Published On: Jun 2023
Published On: Jun 2023
According to Business Market Insights research, the North America fiber cement market was valued at US$ 4,416.61 million in 2022 and is expected to reach US$ 7,052.25 million by 2028, registering a CAGR of 8.1% 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 North America fiber cement market expansion.
According to the Energy Sector Management Assistance Program, nearly one-third of global energy is consumed in residential, public, and commercial buildings for space cooling, heating, ventilating, cooking, refrigerating, lighting, water heating, and operating electric and mechanical devices. Modernizing cities in developing countries and increasing per capita income propel energy use in buildings across the world. High energy consumption in public, residential, and commercial buildings creates a need for energy savings. A layer of fiber cement is applied to the building to reduce heat transfer through the walls, keeping the interior warmer in winter and cooler in summer, which makes a building energy efficient. According to the ASHRAE Fundamentals Handbook, fiber cement has an R-value of 0.15, which is better than the value of brick and stone. Many fiber cement products have a finish that reflects light. This reflection helps the building absorb less heat from the sun and keep the building's interior cooler. It reduces the need for air conditioning, saving energy and lowering energy bills. Fiber cement is often put on top of a layer of foam insulation, making the building energy efficient. This efficiency can help homeowners reduce their energy consumption and energy bills. With an increasing demand for energy-efficient homes, houses are valued higher when built with sustainable resources. All these factors drive the North America fiber cement market.
On the contrary, high cost of installation hampers the North America Fiber Cement Market.
Based on type, the North America fiber cement market is segmented into air-cured and autoclaved. The autoclaved segment held 81.6% share of North America Fiber Cement Market in 2022, amassing US$ 3,603.79 million. It is projected to garner US$ 5,710.47 million by 2028 to expand at 8.0% CAGR during 2022–2028.
Based on application, the North America fiber cement market is segmented into roofing, outside siding or façade, and others. The outside siding or façade segment held 55.8% share of North America Fiber Cement Market in 2022, amassing US$ 2,463.61 million. It is projected to garner US$ 3,891.51 million by 2028 to expand at 7.9% CAGR during 2022–2028.
Based on end- use, the North America fiber cement market is segmented into residential and non-residential. The residential segment held 59.0% share of North America Fiber Cement Market in 2022, amassing US$ 2,604.33 million. It is projected to garner US$ 4,266.35 million by 2028 to expand at 8.6% CAGR during 2022–2028.
Based on country, the North America fiber cement market has been categorized into the US, Canada, and Mexico. Our regional analysis states that the US captured 85.7% share of North America Fiber Cement Market in 2022. It was assessed at US$ 3,786.31 million in 2022 and is likely to hit US$ 6,080.90 million by 2028, exhibiting a CAGR of 8.2% during the forecast period.
Key players dominating the North America fiber cement market are Compagnie de Saint Gobain SA; Etex NV; James Hardie Industries plc; NICHIHA Corp; Plycem Construsistemas Costa Rica SA; and Swisspearl Group AG, among others.
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