Report : South America 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 5.9% CAGR, the SAM Fiber Cement Board Market is speculated to be worth US$ 171.23 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the SAM fiber cement board market was valued at US$ 143.34 million in 2021 and is expected to reach US$ 171.23 million by 2028, registering an annual growth rate of 2.6% from 2021 to 2028. Adopting eco-friendly construction materials and various government plans supporting construction activities are the critical factors attributed to the market expansion.
General construction work uses a huge amount of energy, water, and different raw materials. This leads to the generation of large amounts of waste and potentially harmful atmospheric emissions. Therefore, companies focus on building eco-efficient buildings while reducing their environmental impact. In recent years, there has been great progress in the construction of green buildings. Green building systems can serve as catalysts for smartly shaping urbanization, combating climate change, and ensuring energy security. Sustainability has become a top priority across the region which has led to the development of a green building rating system to incorporate socio-economic, environmental, and cultural aspects in modern architecture. The building construction industry is increasingly focusing on encouraging developments of sustainable construction for a healthy and environmentally friendly living. With the increased focus on sustainable construction across the region, the demand for sustainable construction materials is also increasing. Fiber cement boards are a more sustainable option than many other types of siding. Fiber cement siding production is more sustainable than vinyl siding production, compared to the toxins released at every level in the life cycle of vinyl. Fiber cement boards don’t require indiscriminate deforestation and are made of the recycled wood fiber. 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. Thus, due to an increase preference for sustainability and focus on green buildings there will be an increase in the development of eco-friendly fiber cement products in the coming years.
On the contrary, high cost of installation hurdles the growth of SAM fiber cement board market.
Based on type, the SAM fiber cement board market is segmented into low density fiberboard, medium density fiberboard, and high-density fiberboard. The medium density fiberboard segment held 59.2% market share in 2021, amassing US$ 84.90 million. It is projected to garner US$ 103.61 million by 2028 to expand at 2.9% CAGR during 2021–2028.
Based on end user, the SAM fiber cement board market is segmented into residential and non-residential. The residential segment held 39.2% market share in 2021, amassing US$ 56.23 million. It is projected to garner US$ 65.72 million by 2028 to expand at 2.3% CAGR during 2021–2028.
Based on country, the SAM fiber cement board market is segmented into Brazil, Argentina, and Rest of SAM. Our regional analysis states that the Brazil captured 48.1% market share in 2021. It was assessed at US$ 68.99 million in 2021 and is likely to hit US$ 85.29 million by 2028, exhibiting a CAGR of 3.1% during the forecast period.
Key players dominating the SAM fiber cement board market are Beijing Hocreboard Building Materials Co. Ltd.; 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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