The market for fiber cement is anticipated to experience an average growth rate of about 4.3 percent over the forecast time. The fiber cement market is multi-faceted construction material comprised of cement reinforced by various fibers. The development of the construction industry worldwide directly impacts the growth of the industry. According to the US Department of Commerce, the construction expenditure in the month of June 2022 is estimated to be an annualized rate adjusted for seasonality at US 1,762.3 billion. This is 1.1 percent lower than the revised estimate for May of US$1781.9 billion. 1,781.9 billion. For the beginning of the year 2022, construction expenditures amounted to US dollars 848.2 billion. That's 10.7 percent higher than US dollars 766.0 billion in the same timeframe in 2021. This huge investment in the construction sector will result in a demand for fiber cement, which will eventually boost the growth of the market.
Based on the application of siding, it is anticipated to lead the market globally in both residential and non-residential areas. Siding is the most significant application of fiber cement. It is available in a range of shapes and is comprised of Portland cement, sand water, and cellulose fibers. Fiber cement siding is an affordable and low-maintenance finishing that will not swell or wrap, and can hold paint for several years longer than traditional wood siding. Furthermore, fiber cement siding provides advantages over conventional siding materials such as vinyl and wood. As per the U.S. Department of Housing and Urban Development (HUD) as well as the U.S. Census Bureau, 22% of new homes will feature fiber cement siding as their principal wall covering by 2021.
In terms of geography, Asia Pacific is expected to dominate the region of the global fiber cement market during the next few years. Growing populations and rising disposable income have led to significant growth in the public sector across Asian countries, which has positively impacted the fiber cement market positively. According to data released by the Fiber Cement Product Manufacturer's Association (FCPMA), India uses less than 20% of the chrysotile cement used in the world. North America is following the Asia Pacific in terms of revenue, and it is likely to see significant growth over the next years. The government's investment in infrastructure development through programs like smart cities across the US is expected to boost the market for cement fiber throughout the region. In Europe, the market is predicted to grow moderately over the forecast time frame on the growth in construction activity as well as the substantial need for cement fiber.
Poured-concrete is stronger than concrete blocks, but with a price to match.
To be more specific, the material costs for concrete blocks is roughly $4 per square foot, while the prices for poured concrete are of about $7 per square foot.
That is with labor included.
If you decide to drop the labor costs and do it yourself, prices for concrete blocks will be $3 per square foot, while poured concrete will be $4.
However, these are rough prices, they may vary quite significantly depending on the location and supplier.Regarding the strength of the material, poured-concrete definitely wins the battle.
It is installed in one monolithic structure, as compared to concrete blocks which are laid one block at a time.
