Source: The Freedonia Group, Cleveland’; CP staff
Global fiber cement product shipments are projected to expand 4.4 percent per year through 2019, to 32.6 million metric tons, driven especially by growing demand in North America and deeper penetration in building applications, according to a new Freedonia study, World Fiber Cement.
Over the next five years, it projects strongest growth in the exterior molding and trim segment, coupled with continued gains in siding. Between 2004 and 2014, Freedonia researchers find, siding stands to nearly double its market share in the U.S., which accounts for about one third of overall fiber cement product shipments world wide.
Accelerating building activity, particularly in the U.S., will drive gains in North America, the most rapid growth market for fiber cement products. Mexico is also projected to post solid fiber cement product demand, as building construction rebounds from losses between 2009 and 2014. The report finds a 5.1 percent annual growth rate in North America during that window, and projects fiber cement product shipments in the region climbing from 3.8 million metric tons in 2014 to 5.2 million metric tons in 2019. Additional information on World Fiber Cement can be obtained from Freedonia’s Corrine Gangloff, 440/684-9600; www.freedoniagroup.com.