India Fiber Cement Board Market Research Report By Product Type (High Density Board (HDB), Medium Density Board (MDF), Low Density Board (LDB)), By Raw Material (Silica, Cement, Cellulose Fiber, Additives, Others), By Application (Siding, Roofing, Mounting And Trim, Tiles Wall, Flooring, Curtain Wall, Other), By Production Process (Hatschek Process, Extrusion Process, Pertile Process), and By End-use (Residential, Commercial)- Forecast to 2035

India Fiber Cement Board Market Overview

As per MRFR analysis, the India Fiber Cement Board Market Size was estimated at 2.81 (USD Billion) in 2023.The India Fiber Cement Board Market is expected to grow from 2.94(USD Billion) in 2024 to 5.8 (USD Billion) by 2035. The India Fiber Cement Board Market CAGR (growth rate) is expected to be around 6.368% during the forecast period (2025 - 2035).

Key India Fiber Cement Board Market Trends Highlighted

Growing urbanization and infrastructure development are driving notable developments in the India Fiber Cement Board Market. In order to give the urban poor access to cheap housing, the Indian government has been making significant investments in housing projects through programs like the Pradhan Mantri Awas Yojana.

The need for housing lessens the need for conventional materials and makes fiber cement boards a viable substitute because of their affordability and longevity. Furthermore, as fiber cement boards are environmentally benign, composed of natural resources, and free of harmful compounds, growing awareness of sustainable building materials is a major motivator.

Fiber cement boards are becoming more and more popular in both the residential and commercial sectors, according to recent trends. These boards are becoming more and more popular among builders because of their low care requirements and resilience to fire, moisture, and pests.

Fiber cement boards are being used more and more in partitions, wall cladding, and fake ceilings because they provide architectural flexibility while maintaining structural integrity. Improving production capacities to meet the growing demand presents opportunities. Manufacturers can concentrate on innovation by using cutting-edge technologies to improve performance and quality.

The market for fiber cement board has an opportunity to grow further due to India's growing investment in green construction projects. All things considered, government initiatives, growing infrastructure projects, and sustainability trends position the India Fiber Cement Board Market for significant growth in the near future.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

India Fiber Cement Board Market Drivers

Rising Demand for Sustainable Building Materials

The increasing focus on sustainable construction practices is driving growth in the India Fiber Cement Board Market. With a rising awareness about environmental impacts, builders and developers are gravitating toward eco-friendly materials such as fiber cement boards.

According to the Indian Green Building Council, the green building sector in India is projected to grow by 20% annually, fueled by government initiatives like the Green India Mission.

The state of Maharashtra alone has set an ambitious target to have at least 5,000 green buildings by 2025, showcasing the government’s commitment to sustainability. This shift towards sustainable materials is expected to bolster the demand for fiber cement boards, thereby enhancing the market growth significantly in the coming years.

Increased Urbanization and Residential Construction

Urbanization continues to surge as more people migrate to cities in India, leading to an escalation in the construction of residential and commercial buildings. The Ministry of Housing and Urban Affairs reported that by 2031, 600 million people are expected to live in urban areas, which necessitates the urgent need for housing developments.

This demographic shift has led to an increase in housing projects, with announcements like the Pradhan Mantri Awas Yojana, aiming to deliver housing for all by 2022. This increase in construction activity is set to drive the demand for fiber cement boards, as they offer a cost-effective and durable solution for modern construction needs.

Advancements in Building Technologies

The refurbishment of traditional building techniques through modern technologies is proving pivotal for the growth of the India Fiber Cement Board Market. Many architectural firms are adopting innovative construction solutions that incorporate fiber cement boards due to their superior properties such as fire resistance, weather-proofing, and flexibility.

An example is the use of fiber cement boards in the Indian skyscrapers under the construction in cities like Mumbai and Bangalore, which reflects a trend toward innovative methods in large-scale projects. The Government’s initiative to support 'Make in India’ further encourages the incorporation of local manufacturing and technologies that promote the use of high-quality building materials.

Government Initiatives and Housing Policies

Government initiatives play a crucial role in promoting the construction industry, directly impacting the India Fiber Cement Board Market. Policies like the National Housing Policy foster opportunities for builders and provide critical incentives for adopting quality construction materials, including fiber cement boards.

The government aims for a substantial increase in affordable housing, expecting to build approximately 12 million houses under the Pradhan Mantri Awas Yojana by 2022.

These initiatives not only boost housing development but also stimulate demand for durable materials needed for these projects. Such government backing and funding for housing development directly enhance market growth for fiber cement boards in India.

India Fiber Cement Board Market Segment Insights

Fiber Cement Board Market Product Type Insights

The India Fiber Cement Board Market has exhibited notable growth and evolution, particularly within its Product Type segment, which includes High Density Board (HDB), Medium Density Board (MDF), and Low Density Board (LDB).

High Density Board is recognized for its robustness and superior performance in applications requiring durability and superior moisture resistance, making it a preferred choice for both residential and commercial constructions. This sub-segment is integral in delivering enhanced structural integrity and longevity, bolstered by increasing demand for high-performance building materials in India.

Medium Density Board, on the other hand, strikes a balance between affordability and performance, appealing to a broader consumer base, particularly in interior applications such as wall paneling and furniture.

This segment is characterized by flexibility in design and applications, aligning well with the growing trend of custom interior spaces in urban areas. Low Density Board, while considered less robust than its higher density counterparts, plays a crucial role in the market by offering lightweight solutions suitable for insulation and non-load bearing applications.

The increasing emphasis on sustainable construction practices is propelling the growth of the Fiber Cement Board Market, as these products are often eco-friendly and use materials that reduce environmental impact.

The diversification within the Product Type segment highlights the adaptability of manufacturers to meet varying customer needs, housing trends, and regulatory requirements in the construction industry.

With the urbanization trends in India and a surge in infrastructure development, the demand for these diversified board types is poised to continue growing, reflecting the shifts towards innovation and adaptation in material usage across the nation.

As the India Fiber Cement Board Market continues its upward trajectory, understanding the nuances of each board type provides valuable insights into consumer preferences and market dynamics, demonstrating their significant roles in modern construction practices.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Fiber Cement Board Market Raw Material Insights

The Raw Material segment of the India Fiber Cement Board Market plays a crucial role in determining the quality and sustainability of the final product. This market segment comprises various essential components such as Silica, Cement, Cellulose Fiber, Additives, and Others, each contributing uniquely to the properties of fiber cement boards.

Silica serves as a key ingredient, enhancing strength and durability, while Cement provides the necessary binding quality essential for structural integrity. Cellulose Fiber is important as it improves flexibility and reduces brittleness, making fiber cement boards more resilient.

Meanwhile, Additives are utilized to enhance specific attributes like moisture resistance, fire retardance, and overall performance under various environmental conditions. The diverse nature of these materials allows for tailored applications in residential and commercial construction, which is critical in India's rapidly growing infrastructure sector.

The government's push towards sustainable building practices and the increase in demand for affordable housing further fuel the significance of these raw materials. Given the increasing focus on durability and eco-friendliness, the effective sourcing and utilization of these raw materials are set to be vital for long-term market growth and innovation within the India Fiber Cement Board Market.

Fiber Cement Board Market Application Insights

The India Fiber Cement Board Market, particularly in the Application segment, has shown considerable growth due to its versatility. This segment encapsulates diverse applications such as Siding, Roofing, Mounting and Trim, Tiles Wall, Flooring, and Curtain Wall, which are gaining traction in residential and commercial sectors alike.

Siding and Roofing solutions, with their durability and aesthetic appeal, are becoming preferred choices among builders and architects in urban development projects. Mounting and Trim applications are crucial for providing a cohesive and finished look, contributing significantly to design aesthetics.

Tiles Wall applications facilitate creative interior designs, while Flooring solutions are sought for their robustness and low maintenance needs. Moreover, the Curtain Wall application offers modern buildings an efficient energy management solution, catering to both environmental and economic demands.

As the construction industry in India continues to expand, the demand for these applications is expected to rise, driven by urbanization and infrastructural development. The need for sustainable building materials is further propelling market growth, making fiber cement boards a valuable option across various applications in the region.

This highlights the importance of the Application segment in shaping the overall dynamics of the India Fiber Cement Board Market.

Fiber Cement Board Market Production Process Insights

The Production Process in the India Fiber Cement Board Market encompasses various methods including the Hatschek Process, Extrusion Process, and Pertile Process, each contributing uniquely to the industry. The Hatschek Process is well-recognized for its capability to produce high-quality fiber cement boards, integrating raw materials through a continuous sheet formation, which ensures uniform distribution.

This method is dominant due to its efficiency and the ability to yield a desirable texture, making it a preferred choice in the construction sector. The Extrusion Process, on the other hand, stands out for manufacturing complex shapes and sizes, catering to diverse architectural needs, which further enhances its importance in the market.

Lastly, the Pertile Process, though less common, offers advantages in producing lightweight boards, tapping into a growing demand for energy-efficient building materials. The overall dynamics in the Production Process segment reflect advancements aimed at sustainability, durability, and cost-effectiveness, driving the growth of the India Fiber Cement Board Market.

An increasing awareness of eco-friendly construction and the implementation of stringent building regulations in India further bolster these production methods, resulting in substantial opportunities for innovations and improvements in manufacturing technologies.

Fiber Cement Board Market End-use Insights

The India Fiber Cement Board Market exhibits a robust framework driven by its End-use applications, primarily in the Residential and Commercial sectors. The demand for fiber cement boards has surged notably due to their durability, aesthetic appeal, and resistance to moisture and fire, making them ideal for various construction purposes.

In the Residential sector, the growing trend towards sustainable and green building practices significantly boosts the adoption of fiber cement boards, as they are eco-friendly alternatives to traditional materials. Additionally, the increase in urbanization and renovation activities further propels market growth in this segment.

Conversely, the Commercial segment is characterized by a rising preference for lightweight and high-performance building materials, owing to the expansion of commercial infrastructure such as offices, retail spaces, and hospitality venues. This increasing trend emphasizes the need for versatile and robust construction solutions, where fiber cement boards play a crucial role.

The government's initiatives aimed at enhancing urban infrastructure have also unlocked numerous opportunities within this market segment, leading to a thriving landscape for the India Fiber Cement Board Market as it continues to evolve in response to changing consumer and industry demands.

India Fiber Cement Board Market Key Players and Competitive Insights

The India Fiber Cement Board Market is characterized by a rapidly evolving competitive landscape driven by increasing demand for versatile building materials and the need for sustainable construction solutions. Fiber cement boards are gaining traction due to their superior strength, durability, and weather resistance, making them an ideal choice for both residential and commercial applications.

As the country experiences rapid urbanization and infrastructure development, various players are strategically positioning themselves to capitalize on this growing market. Companies are focusing on innovation, enhancing product quality, and expanding their distribution networks to cater to an increasingly diverse customer base.

Sustainability has emerged as a key theme, with companies integrating green practices in their manufacturing processes to appeal to environmentally conscious consumers.

JSW Cement is a prominent player in the India Fiber Cement Board Market, recognized for its robust product portfolio and commitment to quality. The company has established a strong market presence through its extensive distribution channels and a focus on customer service, allowing it to capture a significant share of the growing demand for fiber cement products in India.

JSW Cement's strengths lie in its advanced manufacturing capabilities and adoption of sustainable practices, which resonate with current market trends. Additionally, the company is known for its R&D initiatives, striving to develop innovative products that meet specific customer needs.

This commitment to excellence not only enhances its competitive positioning but also contributes to brand loyalty among consumers looking for reliable building materials.

On the other hand, Asbestos Cement has a noteworthy presence in the fiber cement board sector within India, having established itself as a reliable provider of a range of products. The company specializes in offering various services that cater specifically to the demands of construction and infrastructure projects.

Asbestos Cement is recognized for its ability to deliver versatile and high-quality fiber cement solutions that meet the performance and durability needs of the industry. Its strategic initiatives include expanding its production capacity and enhancing its distribution networks to better serve a growing clientele across the nation.

Additionally, the company is actively engaged in mergers and acquisitions, which bolster its market positioning and enable it to diversify its product offerings. By leveraging its strengths and continuously adapting to market changes, Asbestos Cement remains a significant competitor within the India Fiber Cement Board Market.

Key Companies in the India Fiber Cement Board Market Include:

• JSW Cement


• Asbestos Cement


• Eternit Gdansk


• Century Plyboards India


• Hindalco Industries


• SaintGobain


• Shree Cement


• Ramco Industries


• Mahendra Cement


• Birla Aerocon


• Visaka Industries


• NCL Industries


• Cembrit


• Sree Jayajothi Cements

India Fiber Cement Board Market Developments

The India Fiber Cement Board market has witnessed significant developments recently, marked by a steady growth trajectory. As of October 2023, demand for fiber cement boards has increased owing to the construction sector's expansion influenced by government initiatives to boost affordable housing and infrastructure projects.

Companies like JSW Cement, SaintGobain, and Century Plyboards India are scaling production capacities to meet this demand, enhancing their market presence. In notable merger activity, Ramco Industries announced an acquisition in March 2023 to expand its product portfolio, while Birla Aerocon completed a strategic merger to strengthen its market share in the Fiber Cement Board segment in June 2023.

Market valuations for firms such as Hindalco Industries and Shree Cement have significantly increased, bolstered by robust construction activities in urban areas. Furthermore, as of May 2022, Visaka Industries reported a substantial year-on-year revenue growth, reflecting the heightened adoption of fiber cement products in residential and commercial projects across India.

This surge in growth is shaping a competitive landscape, prompting both established and emerging companies to innovate and expand their offerings to align with sustainability goals and efficiency standards.

India Fiber Cement Board Market Segmentation Insights

Fiber Cement Board Market Product Type Outlook

• High Density Board (HDB)


• Medium Density Board (MDF)


• Low Density Board (LDB)

Fiber Cement Board Market Raw Material Outlook

• Silica


• Cement


• Cellulose Fiber


• Additives


• Others

Fiber Cement Board Market Application Outlook

• Siding


• Roofing


• Mounting And Trim


• Tiles Wall


• Flooring


• Curtain Wall


• Other

Fiber Cement Board Market Production Process Outlook

• Hatschek Process


• Extrusion Process


• Pertile Process

Fiber Cement Board Market End-useOutlook

• Residential


• Commercial

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	2.81(USD Billion)
MARKET SIZE 2024	2.94(USD Billion)
MARKET SIZE 2035	5.8(USD Billion)
COMPOUND ANNUAL GROWTH RATE (CAGR)	6.368% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Billion
KEY COMPANIES PROFILED	JSW Cement, Asbestos Cement, Eternit Gdansk, Century Plyboards India, Hindalco Industries, SaintGobain, Shree Cement, Ramco Industries, Mahendra Cement, Birla Aerocon, Visaka Industries, NCL Industries, Cembrit, Sree Jayajothi Cements
SEGMENTS COVERED	Product Type, Raw Material, Application, Production Process, End Use
KEY MARKET OPPORTUNITIES	Growing demand for sustainable building materials, Expansion in commercial construction projects, Increasing government infrastructure investments, Rising awareness of fire-resistant materials, Boost in residential housing investments
KEY MARKET DYNAMICS	growing construction activities, increasing demand for sustainable materials, government infrastructure initiatives, rise in urbanization, cost-effective building solutions
COUNTRIES COVERED	India