Report measures fiber cement market gains at vinyl siding expense

Source: The Freedonia Group, Cleveland

Fiber cement siding demand is forecast to grow 3.3 percent per year, to 2.1 billion square feet by 2022, and support sales volume that continues to outperform that of most other siding products. Led by Elementia, James Hardie and Nichiha, the market for fiber cement siding and companion building products will reach $1.6 billion in 2022, reflecting price increases and a shift to higher value offerings. These and other trends are presented in “Fiber Cement in the US, 3rd Edition,” a new study from market researcher Freedonia Group.

Growth in fiber cement sales will come from three main areas, the study finds: strength in U.S. residential and commercial building; gains in market share, especially at the expense of vinyl siding; and, product improvements, including the introduction of premium siding grades. The market for fiber cement siding totaled 1.8 billion square feet ($1.2 billion) in 2017, accounting for 70 percent of total fiber cement sales. Fiber cement is the second most widely used type of siding behind vinyl, and has captured an expanding share of the overall market largely due to its aesthetic and performance advantages over vinyl, hardboard, and natural wood. Backerboard is responsible for the second largest share of fiber cement demand, accounting for 25 percent of sales. Moulding and trim round out much of the remaining product applications. 

“Fiber Cement in the US, 3rd Edition” (May 2018, 137 pages) is available for $5,300 from Freedonia Group, 440/684.9600, www.freedoniagroup.com.