Market Overview - The fiber cement market is valued at USD 14.437 billion in 2025 and is projected to grow at a CAGR of 4.28%, reaching USD 17.807 billion by 2030, driven by rising construction activities and demand for eco-friendly products [1][7]. Market Trends - The global construction sector's expansion significantly boosts the fiber cement market, with rapid urbanization and industrialization in developing countries being major growth drivers [2]. - Challenges include high manufacturing costs and the need for skilled labor for advanced technologies [2]. Regional Insights - The Asia Pacific region is expected to experience the fastest growth due to urbanization, infrastructure investments, and awareness of fiber cement benefits, supported by government initiatives like India's 'Housing for All by 2024' program [3]. Key Players - Major players in the fiber cement market include James Hardie Industries, Etex Group, Nichiha Corporation, CSR Limited, Gyproc, Everest Industries Limited, Swisspearl Group, Shera, and Ramco Industries [4]. Report Coverage - The report includes historical data (2022-2024) and forecasts (2025-2030), covering growth opportunities, challenges, supply chain outlook, regulatory framework, and competitive positioning [6][9]. - It also provides insights on market size, forecasts, trends by product type, installation types, and end-use sectors [6].

Core Viewpoint - James Hardie Industries' shares fell by 15.8% following the announcement of its agreement to combine with Azek, raising questions about the justification for the decline [1] Group 1: Deal Overview - James Hardie is acquiring Azek for a total transaction value of $8.75 billion, combining shares and cash, with James Hardie shareholders owning 74% and Azek shareholders 26% of the combined company [2] - Azek's 2025 guidance projects sales of $1.535 billion and adjusted EBITDA of $411 million, indicating high valuations for the $8.75 billion deal [2] Group 2: Strategic Rationale - Management anticipates generating $350 million in EBITDA synergies from the merger, representing 5.9% of combined sales, which is considered a strong target [3] - The acquisition enhances James Hardie's revenue share from the less cyclical repair and remodel market and increases its North American housing exposure from 74% to 81% [3][4] Group 3: Market Context - The deal occurs amid high interest rates, which have not decreased as expected, leading to negative sentiment regarding the acquisition in a challenged industry [5] - Historical trends suggest that interest rates may eventually decline, potentially making the acquisition a strategic opportunity in the long run [5]