Chrysotile fiber cement plates are produced by the perfect amalgamation of cement and asbestos. They are widely used in building and construction and other industries owing to their energy efficiency, high fire resistance, and high durability.
By region, the global chrysotile fiber cement plate market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
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Europe is expected to hold the largest in the chrysotile fiber cement plates market during the forecast period (2019–2028), owing to the expansion of the region’s construction industry. For instance, according to the European Commission, the German construction industry witnessed an overall growth of 10.4% during 2010–2016. On the other hand, the total investment in the construction industry increased by 9.5% over 2008–2015.
North America is expected to hold a significant share in the global chrysotile fiber cement plates market, growing at a CAGR of 3.2%. According to the U.S. Geological Survey, companies operating in the regional market imported approximately 750 tons of asbestos in 2018. The country comprises large end-use industries, including construction for chrysotile fiber cement plates, which are expected to foster market growth.
Asia Pacific is projected to be the second largest market for chrysotile fiber cement plates during the forecast period (2019–2028), attributing to the presence of emerging countries inclusive of India, China, and Indonesia. The region has been witnessing significant growth in infrastructure development and investment despite the global financial crisis that occurred during 2008–2009.
The LAMEA region is likely to witness sluggish growth in the global market due to significantly low infrastructural development and economic and political instability.
The global chrysotile fiber cement plate market can be segmented by type, application, and sales channel.
Based on type, the chrysotile fiber cement plate market can be segmented into ultra-thin panels, conventional panels, thick panels, and super thick panels. Plates are considered ultra-thin when the thickness is less than 4 mm, thick when the thickness is between 4mm and 10mm, and super-thick when the thickness is more than 10 mm. According to an estimation by Reports Monitor, ultra-thin panels hold a 27% share in the global chrysotile fiber cement plates market and are expected to grow at a 3.5% CAGR. This growth is majorly attributed to their broad scope in the building and construction industry, which is growing exponentially.
In terms of application, the chrysotile fiber cement plate market can be segmented into commercial buildings, residential buildings, and industrial buildings. The residential building segment is expected to hold a significant share in the global chrysotile fiber cement plate market. According to an estimation by Reports Monitor, the residential building segment was valued at USD 425.9 million in 2018 and is expected to reach a value of USD 492.1 million by 2026, registering a CAGR of 2.9%.
Based on sales channel, the chrysotile fiber cement plate market is segmented into the direct channel and distribution channel. Chrysotile fiber cement plates are mostly sold through distribution channels. Additionally, e-commerce sites are becoming popular, where chrysotile-cement fiber plates are being listed with all specifications. Distribution channel holds the largest share in the global chrysotile-cement fiber plates market; however, the channel lowers manufacturers’ profit margins.
Chrysotile Fiber Cement Plate Market: Segmentation
By Sales Channel
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