The Latin America, Middle East and Africa Fiber Cement Market would witness market growth of 5.5% CAGR during the forecast period (2024-2031). In the year 2027, the LAMEA market's volume is expected to surge to 5,918.4 Kilo Tonnes, showcasing a growth of 3.6% (2024-2031).
Fiber cement siding is a popular construction type known for its durability, versatility, and aesthetic appeal. It is composed of a mixture of Portland cement, silica, cellulosic fibers, and other additives, forming a robust composite material that mimics the look of traditional wood siding while offering superior performance and longevity. The Brazil market consumed 710.0 kilo tonnes of Fiber cement sidings in 2023.
The Brazil market dominated the LAMEA Fiber Cement Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $513.4 million by 2031. The Argentina market is showcasing a CAGR of 6.2% during (2024 - 2031). Additionally, The UAE market would register a CAGR of 5.2% during (2024 - 2031).
Adopting digital technologies and automation in manufacturing processes improves efficiency, quality control, and product customization in the market. This trend enables manufacturers to streamline production and meet customer demands more effectively. Indoor air quality is becoming more well-recognized for impacting occupant health and well-being. As a result, there is increasing interest in this cement products that are low in volatile organic compounds (VOCs) and other harmful emissions.
Manufacturers are continuously developing innovative cement products to meet changing market demands. This includes advancements in textures, colors, and finishes to provide a wider range of design options for architects, builders, and homeowners. The demand for this cement products crafted from environmentally favorable materials is on the rise due to the increasing emphasis on sustainability and environmental responsibility. Manufacturers are exploring renewable and recycled content to reduce the environmental impact of their products.
Brazil's growing economy and expanding population drive demand for infrastructure development, including roads, bridges, airports, and utilities. Brazil's growing commercial and industrial sectors require robust and long-lasting building materials. According to the Brazilian government's Agencia de Noticias 2021, the construction industry brought in R$377.8 billion in 2021, consisting of R$22.0 billion in developments, works, and services and R$355.8 billion in works and services (5.8%). Thus, due to these aspects, the market will expand across the LAMEA region in upcoming years.
Free Valuable Insights: The Worldwide Fiber Cement Market is Projected to reach USD 23.4 billion by 2031, at a CAGR of 4.0%
Based on End Use, the market is segmented into Non-Residential and Residential. Based on Raw Material, the market is segmented into Portland Cement, Silica, Cellulosic Fiber, and Others. Based on Construction Type, the market is segmented into Siding, Roofing, Molding & Trim, and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
By End Use (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Raw Material (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Construction Type (Volume, Kilo Tonnes, USD Billion, 2020-31)
By Country (Volume, Kilo Tonnes, USD Billion, 2020-31)
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