Articles of Fiber Cement Market

The global market for fiber cement articles is expected to exhibit an upward consumption trend over the next eight years, with forecasts indicating an increase in market volume and value by 2030. Consumption and production have shown fluctuations over the years, with countries like Brazil, China, and the United States leading in both consumption and production. Imports and exports have also seen growth, with countries like Thailand and China emerging as major exporters. Price trends vary by country, with the United States having the highest export price. Overall, the fiber cement market is projected to continue growing in the coming years.

Market Forecast

Driven by rising demand for articles of fiber cement worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.2% for the period from 2022 to 2030, which is projected to bring the market volume to 30M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +3.0% for the period from 2022 to 2030, which is projected to bring the market value to $16.5B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

In 2022, consumption of articles of asbestos-cement, cellulose fiber-cement or the like increased by 0.1% to 27M tons, rising for the second year in a row after two years of decline. Overall, consumption, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 when the consumption volume increased by 1.6%. Global consumption peaked at 37M tons in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

The global articles of fiber cement market size reduced slightly to $13B in 2022, remaining stable against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, recorded a noticeable decline. The most prominent rate of growth was recorded in 2021 with an increase of 4.8% against the previous year. Over the period under review, the global market reached the maximum level at $18.6B in 2012; however, from 2013 to 2022, consumption remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Brazil (5.3M tons), China (5.1M tons) and the United States (2.6M tons), together comprising 49% of global consumption. India, Pakistan, Indonesia, Nigeria, France, the Philippines, Italy, Mexico and Turkey lagged somewhat behind, together accounting for a further 23%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +4.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest articles of fiber cement markets worldwide were China ($2.8B), the United States ($2.2B) and Pakistan ($876M), with a combined 46% share of the global market. Brazil, India, France, Turkey, Indonesia, Nigeria, the Philippines, Italy and Mexico lagged somewhat behind, together comprising a further 17%.

Among the main consuming countries, the Philippines, with a CAGR of +17.7%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced mixed trends in the market figures.

In 2022, the highest levels of articles of fiber cement per capita consumption was registered in Brazil (25 kg per person), followed by the United States (7.8 kg per person), France (7.7 kg per person) and Italy (7.5 kg per person), while the world average per capita consumption of articles of fiber cement was estimated at 3.4 kg per person.

In Brazil, articles of fiber cement per capita consumption increased at an average annual rate of +2.4% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-0.1% per year) and France (-7.2% per year).

Production

World Production of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Global articles of fiber cement production declined modestly to 27M tons in 2022, approximately equating 2021. Overall, production recorded a noticeable slump. The most prominent rate of growth was recorded in 2021 when the production volume increased by 1.2%. Over the period under review, global production reached the maximum volume at 37M tons in 2012; however, from 2013 to 2022, production remained at a lower figure.

In value terms, articles of fiber cement production totaled $12.4B in 2022 estimated in export price. Over the period under review, production showed a noticeable decrease. Global production peaked at $18.5B in 2012; however, from 2013 to 2022, production failed to regain momentum.

Production By Country

The countries with the highest volumes of production in 2022 were Brazil (5.4M tons), China (5.3M tons) and the United States (2.5M tons), with a combined 49% share of global production. India, Thailand, Pakistan, Indonesia, Nigeria, Mexico, Italy, Turkey and France lagged somewhat behind, together accounting for a further 27%.

From 2012 to 2022, the biggest increases were recorded for Pakistan (with a CAGR of +3.6%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

In 2022, overseas purchases of articles of asbestos-cement, cellulose fiber-cement or the like increased by 4.4% to 3.2M tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +5.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 21% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the near future.

In value terms, articles of fiber cement imports amounted to $1.8B in 2022. Overall, total imports indicated strong growth from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +44.5% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 34%. Global imports peaked in 2022 and are likely to see gradual growth in years to come.

Imports By Country

In 2022, the Philippines (505K tons), distantly followed by the United States (279K tons), the UK (234K tons), Taiwan (Chinese) (183K tons) and Canada (150K tons) were the major importers of articles of asbestos-cement, cellulose fiber-cement or the like, together creating 42% of total imports. The following importers - Denmark (136K tons), Lao People's Democratic Republic (103K tons), New Zealand (86K tons), South Korea (82K tons), France (78K tons), Germany (75K tons), Kazakhstan (75K tons) and the United Arab Emirates (69K tons) - together made up 22% of total imports.

From 2012 to 2022, the biggest increases were recorded for New Zealand (with a CAGR of +28.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest articles of fiber cement importing markets worldwide were the United States ($173M), Canada ($160M) and the UK ($154M), with a combined 27% share of global imports. The Philippines, New Zealand, Denmark, Germany, Taiwan (Chinese), France, South Korea, Kazakhstan, Lao People's Democratic Republic and the United Arab Emirates lagged somewhat behind, together comprising a further 33%.

Among the main importing countries, New Zealand, with a CAGR of +35.9%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average articles of fiber cement import price stood at $559 per ton in 2022, growing by 3.5% against the previous year. In general, the import price saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 when the average import price increased by 11% against the previous year. Over the period under review, average import prices reached the maximum in 2022 and is likely to see gradual growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($1,067 per ton), while Lao People's Democratic Republic ($204 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by New Zealand (+5.8%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Articles Of Asbestos-Cement, Cellulose Fiber-Cement Or The Like

Global articles of fiber cement exports expanded modestly to 3.4M tons in 2022, increasing by 2.2% on 2021 figures. The total export volume increased at an average annual rate of +4.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 16% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, articles of fiber cement exports amounted to $1.6B in 2022. In general, total exports indicated moderate growth from 2012 to 2022: its value increased at an average annual rate of +4.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +50.1% against 2016 indices. The most prominent rate of growth was recorded in 2021 with an increase of 27% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to continue growth in years to come.

Exports By Country

In 2022, Thailand (1M tons) was the main exporter of articles of asbestos-cement, cellulose fiber-cement or the like, creating 31% of total exports. China (244K tons) held the second position in the ranking, followed by the United States (200K tons) and Malaysia (188K tons). All these countries together took approx. 19% share of total exports. India (140K tons), the Czech Republic (139K tons), Belgium (130K tons), Indonesia (112K tons), Mexico (108K tons), Russia (95K tons), El Salvador (77K tons), Italy (72K tons) and Colombia (67K tons) took a relatively small share of total exports.

From 2012 to 2022, average annual rates of growth with regard to articles of fiber cement exports from Thailand stood at +11.7%. At the same time, Indonesia (+28.8%), India (+11.1%), El Salvador (+6.5%), the United States (+5.8%), Mexico (+4.6%) and China (+3.0%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +28.8% from 2012-2022. The Czech Republic, Colombia and Belgium experienced a relatively flat trend pattern. By contrast, Malaysia (-1.6%), Italy (-4.1%) and Russia (-5.1%) illustrated a downward trend over the same period. While the share of Thailand (+15 p.p.), Indonesia (+2.9 p.p.) and India (+1.9 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of the Czech Republic (-1.7 p.p.), Belgium (-2.2 p.p.), Italy (-2.8 p.p.), Russia (-4.4 p.p.) and Malaysia (-4.5 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest articles of fiber cement supplying countries worldwide were Thailand ($212M), the United States ($196M) and China ($184M), with a combined 36% share of global exports. Belgium, the Czech Republic, Malaysia, Mexico, Italy, El Salvador, India, Indonesia, Colombia and Russia lagged somewhat behind, together comprising a further 29%.

In terms of the main exporting countries, Indonesia, with a CAGR of +28.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average articles of fiber cement export price amounted to $483 per ton, stabilizing at the previous year. Overall, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 an increase of 9.3% against the previous year. The global export price peaked in 2022 and is likely to continue growth in years to come.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($981 per ton), while Thailand ($205 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+6.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform