The fiber cement board market is expected to grow from US$ 1,682.42 million in 2021 to US$ 2,339.16 million by 2028; it is estimated to grow at a CAGR of 5.5% from 2021 to 2028.

According to our latest market study on "Fiber Cement Board Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Low-Density Fiber Cement Board, Medium Density Fiber Cement Board, High-Density Fiber Cement Board) and End User (Residential and Commercial)," The report highlights key factors driving the market growth, and prominent players and their key developments in the market.

Nichiha Co., Ltd; Cembrit Holding A/S; Dow Inc.; Beijing Hocreboard Building Materials Co. Ltd.; SCG Building Materials Co., Ltd.; Saint Gobain S.A.; Tepe Betopan A.Ş.; IKK Group; Hume Cemboard Industries Sdn Bhd; and ACFA Building Solution are among the key players that collectively hold the majority of the fiber cement board market share.

The COVID-19 pandemic led to adverse effects on the global chemicals & materials industry due to the shutdown of manufacturing facilities, challenges in procuring raw materials and components, and restrictions on logistic operations. Disruptions in the supply of raw materials to manufacturers and containment measures hampered fiber cement board production.

The discontinuation of operations and value chains due to the shutdown closure of national and international boundaries hampered the growth of the packaging, consumer goods, automotive and transportation, textiles, and building & construction industries. However, many businesses have started gaining ground as governments across the world have eased out the previously imposed restrictions from 2021 onward. Further, consumers are increasingly focusing on using sustainable and nontoxic products in construction projects, which is encouraging manufacturers to focus on the development of fiber cement board products.

Growing awareness about the need for sustainable developments and increased construction of green buildings is increasing demand for the fiber cement boars. It is made using recycled materials such as cellulose fibers, sand, and cement, which aid in protecting human health and the environment. Fiber cement boards are nontoxic as they do not contain asbestos. It is a cost-effective option that may mimic the appearance of wood siding, clapboard, and shingles, along with supporting design variety. Furthermore, factors driving the expansion of the global fiber cement board market include fast urbanization and industrialization in emerging nations, a thriving building and infrastructure sector with increasing investments in these projects, and high efficiency of fiber cement products.

The global construction industry has witnessed significant growth during the last few years. This growth in construction activities is propelling the demand for construction materials including fiber cement boards. Moreover, fiber cement installations are very effective in places with extreme weather. They can serve as a feasible solution for aluminum and wood installations commonly seen near marine environments with salty air. These sidings are also effective against rain and hail. Because fiber cement boards are substantially lighter than aluminum and wood boards, they can be readily transported from the producer to the consumer. The lightweight contributes to cost savings by minimizing the amount of fuel used for transportation.