|Forecast Period :||2018-2026|
|Base Year :||2018|
|Leading Market Segments :||Ultra-Thin Panels|
|Value in 2018 :||$1939.5 Million|
|Research covered :||100+ Countries|
Global Statistics Representing Chrysotile Fiber Cement Plate Market Scenario
The global chrysotile fiber cement plate market was valued at USD 1,939.5 million in 2018 and is projected to reach a value of USD 2317.7 million by 2026, registering a CAGR of 3.5% during the forecast period, 2019–2026.
Asbestos is a naturally-occurring mineral used in the construction industry. It can be broadly classified into five types, namely chrysotile, amosite, crocidolite, anthophyllite, tremolite, and actinolite. Chrysotile is commonly referred to as white asbestos and primarily used in a wide range of asbestos-containing products. According to the Fiber Cement Product Manufacturers Association, chrysotile cement is completely safe and not corrosive, reactive, ignitable, or toxic.
Chrysotile finds application in the ceilings, roofs, walls, and floors of homes and businesses. Additionally, it is used by manufacturers in automotive brake lining, boiler seals & gaskets, ducts, and insulation for pipes.
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The global chrysotile fiber cement plate market is segmented by type, application, and sales channel. Based on type, the market is segmented into ultra-thin panels, conventional panels, thick panels, and super thick panels. These panels differ according to their thickness; ultra-thin panels have a thickness less than 4 mm, thick panel’s thickness ranges between 4mm and 10mm, and super thick panels have a thickness higher than 10 mm. Thick panels are expected to gain traction in the global chrysotile fiber cement market, owing to their versatility and widespread application in industrial, commercial and residential sectors.
Based on application, the chrysotile fiber cement plate market is segmented into commercial buildings, residential buildings, and industrial buildings. Commercial buildings are expected to hold a significant market share in the global chrysotile fiber cement plate market, owing to benefits such as high cost-effectiveness, virtually no maintenance requirements, and resistance to chemical attack, rust, rot, and corrosion, among others.
In terms of sales channel, the chrysotile fiber cement plate market is segmented into the direct channel and distribution channel. Chrysotile cement fiber plates are controversial due to their asbestos content. With some countries restricting the usage of asbestos, it is often manufactured as per clients' requirements. Otherwise, the direct channel is not the preferred way of distributing chrysotile cement fiber plates. The channel holds a significant share of the global chrysotile-cement fiber market.
Geographically, the chrysotile fiber cement plate market is segmented into North America, Europe, Asia Pacific, and Latin America and the Middle East & Africa (LAMEA).
Future Developments Expected to Influence the Chrysotile Fiber Cement Plate Market - Request a Free Sample
Europe is expected to hold the largest share in the global chrysotile fiber cement plate market during the assessment period, 2019–2026. This is majorly attributed to the growing construction industry in the region. For instance, according to the European Builders Confederation (EBC), a non-profit professional organization, the construction sector contributes around 9% to the European Union GDP.
North America is anticipated to gain a significant share in the global chrysotile fiber cement plate market, owing to relaxed restrictions on the usage of asbestos in the region, as compared to European countries. Currently, it is legal to use asbestos in most applications, including construction; however, the product should not contain more than 1% of asbestos.
Growing infrastructural investment in emerging countries, including India, China, and others is expected to enable Asia Pacific to procure a significant share in the industry size during the forecast period, 2019–2026. For instance, in June 2018, the Asian Infrastructure Investment Bank (AIIB) announced a USD 200-million investment in the National Investment & Infrastructure Fund (NIIF).
Latin America and the Middle East & Africa are expected to register slow growth in the chrysotile fiber cement plate market due to slow-paced infrastructural and commercial development.
Some of the prominent players operating in the chrysotile fiber cement plate market are James Hardie, Everest Industries, Etex Group, Saint-Gobain, Hume Cemboard Industries, Taisyou, Soben board, SCG Building Materials, PENNY PANEL, and Nichiha. Key players are observed to be focusing on expanding their geographical reach.
Chrysotile Fiber Cement Plate Market Segmentation
By Sales Channel