Fiber cements products have found its way into various major application areas including industrial, consumer and agriculture sectors. The products used for these purposes vary based on the requirements. Fiber cements products are majorly used for cladding and roofing purposes. They are used in agriculture for both building and ancillary purposes. They are also used in industries for fire proofing walls and in household application for ceilings, tombstones and so on.
The Indian fiber cement market has been segmented into types of fiber used in various fiber cement products. The market is also segmented in the process used for the production of fiber cement. Each of these segments is further broken down to give an in-depth analysis of the market. Fiber cement market is the fastest growing in the building material sector. The most used material in fiber cement products is asbestos along with some additional materials like carbon, Kevlar, polypropylene and so on. The cellulose based fiber cements products are one of the emerging ones in this industry.
The demand for fiber cements is growing at a steady pace across the country. The fiber cements market is growing due to high demand in the end-use sectors especially the agricultural and industrial sector. Other factors affecting the growth of the market include housing innovation and demand for fire proof and sound proof walls in many industries.
The Indian fiber cement market is highly competitive due to the dominance of regional players. The key players in the market are Everest industries ltd, HIL Limited, Visaka Industries Limited constituting a major share. These companies are adopting various growth strategies such as new product launches, expansions, partnerships and acquisitions to consolidate their market share. The companies are investing in R&D extensively to develop technically advanced unique products to differentiate from competitors and increase their market share. A detailed qualitative analysis of the factors responsible for driving and restraining growth of the Indian fiber cement market and future opportunities are provided in the report.