NEW YORK, June 15, 2015 /PRNewswire/ -- World demand to rise nearly 5% annually through 2019
Through 2019, world demand for fiber cement is projected to expand nearly five percent per year to more than 32 million metric tons. This rate will be a slight deceleration from the pace of the 2009- 2014 period. Spending on building construction, which is the primary driver of fiber cement demand, is forecast to slow between 2014 and 2019, restricting total demand gains. Demand for fiber cement in the nonresidential construction market, in particular, is expected to decelerate from the gains of the 2009-2014 period. However, demand for fiber cement will benefit from rising market penetration in its many applications. For example, fiber cement's ability to mimic the appearance of wood while offering greater durability will boost demand in siding applications.
Molding & trim to be fastest growing application
Fiber cement is used primarily in roofing, siding, and molding and trim applications, with additional uses including firestop materials, backerboard, countertops, and ceilings. Through 2019, the fastest growth in fiber cement demand is projected in the molding and trim segment. Fiber cement molding and trim is utilized mainly in exterior applications. Demand will benefit from its superior performance characteristics (such as ability to withstand harsh weather conditions without rotting or warping and low maintenance requirements) that will allow fiber cement to gain market share from other materials, such as wood products. Fiber cement siding is also expected to post solid demand growth through 2019. These products are gaining popularity in the US as they can withstand many harsh climates without rotting and are impervious to insects. For example, between 2004 and 2024, US demand for fiber cement siding is expected to nearly double its share of the total siding market. In 2014, roofing comprised the largest market for fiber cement products, benefiting from their superior performance characteristics. However, demand growth for fiber cement roofing is forecast to be below average through 2019. Growing health concerns about products made utilizing asbestos will slow growth in Brazil and India, the two largest national markets for fiber cement roofing. Fiber cement roofing will also lose share to concrete and clay tile products in these countries.
North America to be fastest growing market
The most rapid growth in fiber cement demand through 2019 is projected in North America. Accelerating building construction spending, particularly in the US, will fuel demand gains. Mexico is also expected to post solid growth in fiber cement demand, as building construction activity rebounds from the losses of the 2009-2014 period. Both Western and Eastern Europe are forecast to post the slowest growth in fiber cement demand through 2019. However, both regions will see accelerations in demand from the rate of the 2009-2014 period. In Western Europe, building construction spending will recover from losses posted between 2009 and 2014, and in Eastern Europe building construction activity will accelerate from the stagnant pace of the same period, driving demand.
This upcoming industry study, World Fiber Cement, presents historical demand data (2004, 2009 and 2014) plus forecasts (2019 and 2024) by application, market, world region, and for 19 countries. The study also assesses key market environment factors, details industry structure, evaluates company market share and profiles global industry players such as Etex Group, James Hardie and Nichiha
Read the full report: http://www.reportlinker.com/p03007363-summary/view-report.html
ReportLinker is an award-winning market research solution that finds, filters and organizes the latest industry data so you get all the market research you need - instantly, in one place.
Contact Clare: firstname.lastname@example.org
Intl: +1 339-368-6001