Freedonia Group issued the following announcement on Sept. 27.
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.
Original source can be found here.
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