The COVID-19 crisis has led to the looming economic recession, however the Fiber Cement market worldwide will grow by a US $3.9 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 3.3%. Global Fiber Cement Market is upto $19. 1 Billion by 2027 and it is estimated at US$15.2.
From 2020 to 2027 are the global and forecast periods analysis and historic review was done from 2012-2019. Research estimates are provided for 2020.
It is forecast to grow at over 4% and reach a market size of US $7.7 Billion by the end of 2027. As far as you know, the coronavirus pandemic has been affecting every industry, the fiber cement industry is not an exception. We are going forwards in a post COVID-19 era that will be continuously redefined and redesigned. The uncertainty, new change continuously adapts to new and evolving market conditions.
In the new emerging geographic scenario, the United States is forecast to readjust to a 2.1% CAGR. Europe, the region worst hit by the pandemic, Germany will add over US $93.1 Million to the region's size over the next 7 to 8 years. Besides, over US $95.9 Million worth of projected demand in the region will come from Rest of European markets. In Japan, the Siding segment will reach a market size of US $339.8 Million by the end of the analysis period. The world’s second largest economy, confronting significant political and economic challenges against China. The changing relationship between China and the rest of the world will influence dramatically competition and opportunities in the Fiber Cement market as well. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$2.7 Billion by the year 2027, while Latin America will expand at a 3.2% CAGR through the analysis period.
China is forecasted to grow at 6.5% over the next couple of years and add approximately US $1.3 Billion in terms of addressable market opportunity. The worldwide business and leaders continuously listens to every emerging sign of new world order in the post COVID-19 seeking to find success in the now changing Fiber Cement market landscape.
All research viewpoints are collected from influencers in the market, whose opinions supersede all other research methodologies.
Present competitors of Fiber cement industry identified in this market include:
· Cembrit Holding A/S
· Compagnie de Saint-Gobain
· CSR Ltd.
· Etex SA
· Evonik Industries AG
· James Hardie Industries PLC
· Nichiha Corporation
· Plycem Constru Sistemas Costa Rica, SA
· The Siam Cement Public Company Limited
· Toray Industries, Inc.