Diverging Outlooks for Fiber Cement Roofing and Siding Anticipated by The Freedonia Group

Global demand for fiber cement is forecast to reach 31.8 million metric tons in 2023, according to The Freedonia Group’s new Global Fiber Cement study. While roofing and siding will remain the two largest applications for fiber cement going forward, their outlooks will differ:

• Fiber cement has historically been a popular roofing material in Central and South America and throughout much of the Asia/Pacific region because it has been affordable and readily available. However, as incomes rise in these regions, more builders and homeowners are switching to more expensive roofing such as bituminous and tile. Also, the replacement of asbestos with cellulose fiber in fiber cement roofing has raised its price, reducing the cost advantage fiber cement held over other materials.
• Demand for fiber cement siding is growing in the US, China, and parts of Western Europe because of its durability and low maintenance when compared to other siding. Its popularity has also risen among consumers due to its ability to mimic more expensive siding materials such as natural wood, brick and stone.

Find Out More About Fiber Cement

The Freedonia Group’s Global Fiber Cement study analyzes the global fiber cement market, presenting historical demand (2008, 2013, 2018) and forecasts (2023 and 2028) by market (new residential, residential renovation, new nonresidential, nonresidential renovation) and application (roofing, siding, backerboard, moulding and trim, and other applications). This study also breaks out company market share and includes competitive analysis on industry participants such as James Hardie, Etex, Nichiha, KMEW, and more.

https://www.freedoniagroup.com/industry-study/global-fiber-cement-3746.htm