Thailand Fiber Cement Market to Grow Exponentially at 4.34% CAGR: MarkNtel Advisors

Market Overview:

MarkNtel Advisors has released a new report that highlights the strong growth trajectory of the Thailand Fiber Cement Market, The Thailand Fiber Cement Market is projected to grow at a CAGR of around 4.34% during the forecast period, i.e., 2023-28. Various factors are attributed to the growth of the market like growth in automobile production, growing focus on lightweight sustainable materials, rising demand for luxury customized interiors, increasing focus on safety standards, and the adoption of Advanced Driver Assistance Systems (ADAS). The report provides valuable insights into the drivers, trends, and challenges shaping the future of the Thailand Fiber Cement Market. It offers an in-depth look at the key players, geographical performance, and the segments leading the charge in market share.

Industry Outlook Forecasts:

Forecast Period: 2023-2028
CAGR (2023-2028): 4.34%

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Thailand Fiber Cement Market Segmentation Breakdown:

The Thailand Fiber Cement Market explores the industry by emphasizing the growth parameters and categorizes including geographical segmentation, to offer a comprehensive understanding of the market dynamic. The further bifurcations are as follows:

By Material
- Cellulosic Material
- Portland Cement
- Sand

The use of Portland cement for making Fiber Cement was high in Thailand during the historical period due to the booming construction infrastructure industries in the country.

By Application
- Cladding
- Roofing
- Siding
- Molding Trimming
- Backer Boards
- Wall Partition
- Others (Counter Tops, Ceiling, etc.)
By End-User
- Residential
- Non-Residential

The Residential Sector of Thailand witnessed considerable growth during the historical period owing to the raised development of residential construction in the country combined with the acoustic thermal insulation properties of fiber cement.

By Fiber Type
- Polypropylene
- PVA
- Lignocellulose
- Carbon
- Others
By Production Process
- Hatschek Process
- Extrusion Process
- Perlite Process

The Hatschek process acquired a considerable share in Thailand’s market for the manufacturing of fiber cement products owing to the production of high-quality, uniform products cost-effectively efficiently.

Geographical Growth Insights:

By Region

Central
Northeast
North
South

MarkNtel Advisors Highlights Key Market Drivers for Thailand Fiber Cement Market:

Government Initiatives Toward Green Solutions - The government of Thailand has been progressively improving its efforts to enhance the sustainability level of the country reducing its carbon footprints necessitated by climate change. Thailand aims to reduce its greenhouse gas emissions by 30% by 2030 compared to the business-as-usual scenario. This includes reforms in areas such as human settlement security, tourism, agriculture, natural resources, health, and water. This is further leading to the emergence of Thailand as a model of green buildings in Asia.

Moreover, technical assistance stakeholder engagement provided by UN Environment plays a crucial role in promoting sustainable energy-efficient buildings that reduce greenhouse gas emissions. Such assistance under the program NAMA (Nationally Appropriate Mitigation Actions) announced for the building sector in Asia is supporting the development of government-led interventions to enrich investment in energy-efficient green buildings. This would further support the demand for fiber cement in Thailand during the forecast period.

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A Comprehensive Analysis of Leading Companies in Thailand Fiber Cement Market

SHERA
Toray Industries Inc.
Siam Cement Group
TPI Polene Plc.
Mahaphant Fibre-Cement (South Asia) Private Limited
Sika Group
Others

Thailand Fiber Cement Market Possible Restraint:

Labor Shortage Faced by the Country - The economy of Thailand has been witnessing a lack of efficient workforce in the historical years. This includes a range of skilled, unskilled, and managerial workforce in different industries such as construction, manufacturing, etc. Also, the requirement of skilled workers in the manufacturing of fiber cement, including knowledge of production processes, equipment operation, quality control, and safety protocols, combined with the high requirement of workers in the construction sector, would hinder the growth of the market in the forthcoming years.

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