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US Fiber Cement Market

  • December 2015
  • 255 pages
  • Freedonia
Report ID: 2008065

Summary

Table of Contents

Study coverage

This report presents historical demand data (2004, 2009 and 2014) plus forecasts for 2019 and 2024 by material, application, market and region of the US. In addition, the study considers key market environment factors, evaluates company market share and profiles US industry competitors. The companies profiled include James Hardie Building Products subsidiary of Irelandbased James Hardie Industries, Elementia (Mexico) subsidiaries Plycem USA and Allura, the Nichiha USA subsidiary of Nichiha (Japan), and GAF Materials.

US demand to rise 6% annually through 2019

US demand for fiber cement products is forecast to grow 6.0 percent annually through 2019 to 2.9 billion square feet, valued at $2.2 billion. Rebounding construction expenditures, specifically in new housing construction, will fortify demand. This growth in new housing construction will be by far the biggest driver of fiber cement product demand growth, as single-family housing starts advance rapidly and fiber cement siding -- the most popular application for fiber cement -- continues to gain market share nationally. Growth in fiber cement siding use in single-family housing will be supported by fiber cement’s high levels of market penetration in the South and West, the US regions that will experience the strongest levels of growth in population and housing starts going forward.

New housing to drive dominant residential market

The residential market makes up the majority of fiber cement demand. While new housing demand for fiber cement products will increase at the fastest pace through 2019, residential improvement and repair will continue to account for a larger portion of residential demand. Sales of existing housing will generate demand for fiber cement products as homeowners look to increase the values of their properties before going to market. For example, homeowners can engage in renovation activities like bathroom and kitchen remodeling, which will support demand for fiber cement backerboard.
Even when properties are not changing hands, fiber cement products will make inroads in re-siding and exterior trim applications.

Nonresidential segment to gain market share

While exterior fiber cement products’ aesthetic properties make them well suited for residential markets, the material has seen increasing usage in the nonresidential market in recent years, particularly for fiber cement backerboard. Fiber cement product demand in the nonresidential market is forecast to grow 5.8 percent annually through 2019 to 710 million square feet. Gains will be driven primarily by rebounding nonresidential building construction demand. Additionally, fiber cement siding and exterior trim will benefit from a design trend in commercial buildings that favors a more authentic, exposed-wood exterior. Fiber cement product manufacturers have responded to this demand by developing new wood-like products aimed at commercial buildings.

Siding applications to offer best growth opportunities

Siding accounts for nearly 70 percent of fiber cement product demand. Fiber cement manufacturers have found a great deal of success in this application, managing to penetrate a highly competitive market and becoming a major material option for siding over the course of a couple of decades. Backerboard is the second largest application for fiber cement in the US, but it is projected to have only modest growth in market penetration through the forecast years.

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