Middle East & Africa Fiber Cement Market Research Report Forecast to 2030
The MEA fiber cement market was valued at USD 1,117.1 million in 2021 and is projected to reach USD 1,645.3 million by 2030 at a CAGR of 4.65%. In terms of volume, the MEA market was sized at 1,987.0 kilotons in 2021 and is expected to register a CAGR of 3.81% to be sized at 2,726.8 kilotons by the end of the forecast period.
The MEA fiber cement market is primarily driven by its widespread use in the construction industry. In residential construction, it is extensively used in rooftop extensions, storage rooms, sentry posts, cottages, farmhouses, site offices, etc., while its commercial applications include offices, labor quarters, transit camps, rehabilitation centers, schools, health care centers, kiosks, etc. The growing demand for fiber cement is attributed to its benefits such as long-life span, versatility and aesthetics, heat and fire resistance, weather resistance, warping and rotting resistance, high strength, and low maintenance cost. Moreover, the need for energy-efficient buildings is likely to create trend for the players in this market.
However, the availability of substitutes, such as vinyl, wood, and steel siding, and high installation costs act as key restraints to the market growth. Proactive government initiatives to increase infrastructure investments are a major opportunity for the players in the market.
Market SegmentationAs per MRFR analysis, the MEA market has been segmented on the basis of product type, application, end user, and country. By product type, the regional market has been segmented into boards, panels, and others. The boards segment was valued at USD 796.4 million in 2021 and is expected to register the highest CAGR of 4.69% during the assessment period.
Based on application, the market has been segmented into siding, roofing, flooring, molding & trim, inner lining, fire and acoustic walls, partition walls, and others. The siding segment accounted for 31.92% of the regional market share in 2021 and is projected to reach a value of USD 530.8 million by the end of 2030.
Among the end user, the residential segment is expected to reach a value of USD 972.3 million by the end of the assessment period.
By country, Saudi Arabia accounted for 23.10% of the regional market share in 2021. This is due to the fast-paced industrialization and urbanization. The UAE is expected to be the second-fastest-growing region, registering a CAGR of 5.00% during the forecast period, on account of the increasing investments in housing and infrastructural projects.
Major PlayersEtex Group, Knauf Gips KG, ACFA, SHERA Public Company Limited, United Mining Industries, SCG International Corporation Co., Ltd., Saint-Gobain, TEPE BETOPAN A.Ş., Danube Group, and IKK GROUP
Companies MentionedEtex Group
Knauf Gips KG
ACFA
SHERA Public Company Limited
United Mining Industries
SCG International Corporation Co.
Ltd.
Saint-Gobain
TEPE BETOPAN A.Ş.
Danube Group
and IKK GROUP
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