India Fibre Cement Boards and Sheets Market is expected to grow at a CAGR of 8.98% Through 2030

Growing economy, increased government investment in construction sector and rising urbanization to drive the growth of India Fibre Cement Boards and Sheets Market until 2030

According to TechSci Research report, “India Fibre Cement Boards and Sheets - India Industry Size, Share, Trends, Opportunity, and Forecast 2030”, The India Fibre Cement Boards and Sheets Market is driven by rapid urbanization and industrialization, leading to increased demand for durable construction materials. The burgeoning real estate sector, fueled by government initiatives for affordable housing and infrastructure development, significantly contributes to market growth. Fibre cement products are favored for their fire resistance, termite-proofing, and low maintenance, making them ideal for various applications. Additionally, the shift towards sustainable and eco-friendly building practices supports the adoption of these materials. The replacement of hazardous asbestos-based products with safer alternatives further boosts the market. Technological advancements in manufacturing processes enhance product quality and reduce costs, making fibre cement boards and sheets more competitive. The growing trend of interior decoration and modular construction also drives demand, as fibre cement products offer versatility and aesthetic appeal for both residential and commercial projects.

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Based on raw material, Non-Asbestos segment dominated the market will dominate the market in the forecast period, Based on raw materials, the Non-Asbestos segment has emerged as the dominant force in the India Fibre Cement Boards and Sheets Market. This shift is primarily driven by increasing regulatory restrictions and health concerns associated with asbestos-based products, prompting a widespread adoption of safer alternatives.

Non-asbestos fibre cement boards and sheets are composed of a mixture of cement, cellulose fibers (usually from wood or recycled paper), sand, and other additives. These materials offer similar benefits to asbestos-based products, such as fire resistance, durability, and versatility, without the associated health risks. Asbestos, once widely used for its fire-retardant properties, has been progressively phased out due to its carcinogenic nature and stringent regulatory controls banning its use in many countries, including India.

The dominance of the Non-Asbestos segment is further supported by technological advancements in manufacturing processes. Innovations have enabled manufacturers to enhance the performance and aesthetic appeal of non-asbestos fibre cement products. Improved formulations and production techniques result in boards and sheets that are lighter, stronger, and more flexible, catering to diverse construction needs. These advancements have also contributed to the expansion of product applications beyond traditional uses, such as roofing and cladding, to include interior partitions, flooring, and decorative elements.

Market demand for non-asbestos fibre cement products is bolstered by their environmental benefits. They are considered eco-friendly because they do not contain hazardous materials like asbestos and can be recycled or disposed of safely at the end of their lifespan. This sustainability factor resonates well with consumers and builders increasingly conscious of environmental impact, aligning with global trends towards green building practices.

The Non-Asbestos segment benefits from the versatility and customization options offered by modern fibre cement technology. Manufacturers can produce boards and sheets in a variety of sizes, textures, and finishes to meet specific project requirements and architectural designs. This flexibility appeals to architects, designers, and builders seeking innovative and aesthetically pleasing building materials.

The economic advantages of non-asbestos fibre cement products contribute to their market dominance. While initial costs may be higher than traditional materials, such as wood or metal, non-asbestos fibre cement boards and sheets offer long-term savings through reduced maintenance, extended durability, and resistance to pests and weathering. These cost-efficiency benefits make them a preferred choice for both residential and commercial construction projects across India.

The Non-Asbestos segment of the India Fibre Cement Boards and Sheets Market has eclipsed asbestos-based products due to regulatory pressures, technological advancements, environmental considerations, versatility in applications, and long-term economic benefits. As the construction industry continues to prioritize safety, sustainability, and innovation, non-asbestos fibre cement products are poised to maintain their dominant position and drive further market growth in India.

Key market players in the India Fibre Cement Boards and Sheets Market are:-

• HIL Limited
• Visaka Industries Ltd. (VIL)
• Everest Industries Ltd.
• Ramco Industries Ltd.
• Sahyadri Industries Pvt. Ltd.
• Utkal Asbestos Ltd
• UP Asbestos Ltd. (UPAL)
• NCL Industries Limited

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“The method of housing construction, its affordability and durability, inherent advantages over other dry construction for constructing walls, flooring, ceiling and paneling, etc. in urban as well as rural areas are driving the demand for fibre boards and sheets in the country. 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 aims to provide affordable houses in rural and urban areas by 2022. Above mentioned factors are positively influencing the India construction market and driving the India fibre cement boards & 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 Application (Roofing, Siding, Cladding, Moulding & Trimming & Others), By End Use (Residential and Non-residential), By Region, By Competition, Forecast & Opportunities, 2020-2030” has evaluated the future growth potential of India Fibre Cement Boards and Sheets Market and provides statistics & 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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