Growing economy, increasing government investments in the construction sector and rising urbanization to drive the growth of India Fibre Cement Boards and Sheets Market until FY2026.
Growing economy, increasing government investments in the construction sector and rising urbanization to drive the growth of India Fibre Cement Boards and Sheets Market until FY2026.
According to TechSci report on, “India Fibre Cement Boards and Sheets Market By Raw Material (Asbestos and Non Asbestos), By End-Use (Residential and Non-Residential), By Application (Siding, Roofing, Cladding, Molding & Trimming & Others), By Company and By Region, Forecast & Opportunities, FY2026”, India Fibre Cement Boards and Sheets Market was valued at USD650 Million in FY2020 and is projected to grow at CAGR of around 3% during FY2021–FY2026 predominantly due to increasing construction activities and growing urbanization.
India Fibre Cement Boards and Sheets Market is segmented based on raw material, application, end user and region. Based on application, the market can be categorized into Siding, Roofing, Cladding, Molding & Trimming & Others. Among them, the roofing segment dominated the market with a share of 54.75% in FY2020 and is expected to retain its position during the forecast period as well. This growth can be attributed to increased demand for the product and government policies. The progressive construction activities in India would impact the India Fibre Cement Boards and Sheets Market until FY2026.
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The conventional development rehearses in India are moving to ‘dry construction’ techniques. Such strategies guarantee that the development is lighter, quicker and superior, especially as far as warmth and sound insulation. This strategy is utilized for constructing walls, flooring, ceiling and paneling using fibre boards and sheets. Fiber cement boards and sheets have some inherent advantage over other dry construction products, for example, being water safe, termite safe and have acoustic protection properties, great warm protection and can likewise be utilized both inside and outside. This is driving its rising infiltration into the residential (especially wet regions) lodgings and clinics.
Based on raw material, Asbestos cement sheets (ACS) segment has dominated the market with a share of 82% in 2020. Being used for more than 80 years, they address an advantageous material item in rural and semi-urban areas. Almost half of the country’s population lives in kutcha or semi-pucca homes wherein Asbestos cement sheets are a helpful fit. In case of pucca houses, less than half uses RCC slabs and the rest use ready-to-use house fibre cement roofing products. Fiber cement roof costs are one-fifth of the RCC ceiling slab. Asbestos concrete sheets are chiefly utilized as roofing materials in rural/semi urban housing by industries and poultry units.
Hyderabad Ind Ltd. (HIL), Visaka Industries Ltd. (VIL), Everest Industries Ltd., Ramco industries, Sahyadri Industries, Utkal Asbestos, UP ASBESTOS LTD. (UPAL), NCL Industries, Mahaphant Fibre cement Pvt. Ltd., A Infrastructures Pvt. Ltd and others operating in India Fibre Cement Boards and Sheets Market. These market players are focusing more on strategic partnerships in order to expand their reach and maintain their competitive position in the market.
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“India Fibre Cement Boards and Sheets Market is expected to witness significant growth during the forecast period. The method of housing construction, its affordability and durability, inherent advantage over other dry construction for constructing walls, flooring, ceiling and paneling, etc., in urban as well as rural areas are expected to increase the demand for fibre boards and sheets. The growing disposable income in the rural areas, driven by factors like minimum Support Price (MSP), fair wage rate payment and good monsoon and the Government’s ‘Housing for All’ initiative aiming to provide affordable houses in rural and urban areas by 2022, drives the India Fibre Cement Boards and Sheets Market” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Fibre Cement Boards and Sheets Market By Raw Material (Asbestos and Non Asbestos), By End-Use (Residential and Non-Residential), By Application (Siding, Roofing, Cladding, Molding & Trimming & Others), By Company and By Region, Forecast & Opportunities, FY2026” has evaluated the future growth potential of India Fibre Cement Boards and Sheets Market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in India Fibre Cement Boards and Sheets market.
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