India Fibre Cement Boards and Sheets Market to Surpass USD760 Million by 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.
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.
Browse over 22 market data Figures spread through 70 Pages and an in-depth TOC on"India Fibre Cement Boards and Sheets Market"
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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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