[FURL=https://www.industryarc.com/Report/18831/gcc-fiber-cement-market?utm_source=briefingwire&utm_medium=pressrelease&utm_campaign=paidpressrelease]GCC Fiber Cement Pouches Market[/FURL] size is forecast to reach US$834.7 million by 2027, after growing at a CAGR of 3.8% during 2022-2027. Fibre cement is a blend of cement, cellulose fibers, and water. They are lightweight, strong, and fire-resistant. Fibre cement is used in a variety of applications such as in construction, highway construction, highway repair, residential and commercial construction. Portland cement is the most common type of cement used in the construction industry. Additionally, it is used in mortar, stucco, and non-specialty grout. As a building material, it is used in the repair and construction of buildings, and water supply systems among others. The product offers excellent binding properties and strength. Due to an increase in Polypropylene fiber, the demand for corrugated sheets will also increase the market demand. According to the data published by MEED, there is about US$303 billion worth of planned construction and transport projects in the GCC.Key Takeaway
GCC fiber cement market is projected to grow at a CAGR of 3.8% over the period 2022 to 2027.
The commercial buildings segment holds a significant share in the GCC fiber cement market. The segment is accounted for more than 25% market share in 2021
The fiber cement market consumption is projected to be the highest in Saudi Arabia followed by UAE and Qatar during the forecast period.
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GCC Fiber Cement Market: By Geography
Saudi Arabia country held the largest share in the GCC fiber cement market in 2021 up to 60%, due to increased consumer spending, rising per capita income, and varying consumption. According to the industry sources, approximately 5,200 construction projects are under construction in Saudi Arabia. According to the data published by SIDF, the Saudi Government is involved in the construction of a $500bn NEOM smart city, located in the northwest of the country. The UAE and Qatar are also expected to hold a significant share in the GCC fiber cement market. The increase in the number of construction and renovation activities is fueling the demand for fiber cement in the region.
GCC Fiber Cement Market: Key Drives
Growing Construction Industry in GCC
GCC Fiber Cement Market Landscape
GCC fiber cement market top companies include James Hardie Industries PLC, Toray Corporation, Etex Corporation, Nichiha Corporation, EvonikIndustries, CSR Limited, Cembrit Group A/S, The Siam Cement Public Company Limited, Plycem Corporation, Beijing Hocreboard Building Materials Co. Ltd, Hekim YAPI A, UNiCEM
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