Industry Brief: Global Asbestos Market Forecast (2024-2035)

Market Overview

• 2024 Market Value: USD 1.2 Billion
  
  

• 2035 Forecasted Value: USD 3.6 Billion
  
  

• CAGR (2024–2035): 10.6%
  
  

The global asbestos market is experiencing a steady resurgence driven by continued demand in legacy infrastructure applications and certain industrial uses—despite global regulatory scrutiny.

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 Market Segmentation

By Product Type

• Raw Asbestos Fibers
  
  

• Asbestos Cement Products
  
  

• Asbestos Insulation Materials
  
  

• Asbestos Boards
  
  

• Fireproofing
  
  

• Others
  
  

By Asbestos Type

• Chrysotile (White Asbestos – Most commonly used and relatively less hazardous)
  
  

• Amosite (Brown Asbestos – Strong and heat-resistant)
  
  

• Crocidolite (Blue Asbestos – High temperature and chemical resistance)
  
  

• Anthophyllite
  
  

• Others
  
  

By Application

• Thermal Insulation
  
  

• Roofing Materials
  
  

• Fireproofing Solutions
  
  

• Soundproofing Panels
  
  

• Automotive Brakes and Clutches
  
  

By End-User Industry

• Construction & Building
  
  

• Automotive Manufacturing
  
  

• Electrical Components
  
  

• Others

 Regional Insights

The market sees dominant activity in Asia-Pacific, particularly in countries where asbestos is still legally utilized. South Asia, including India and China, contributes a major share due to its construction and infrastructure sectors. Despite bans in regions like the EU and North America, legacy uses and remediation needs sustain marginal demand.

 Key Market Players

Several global and regional players contribute to the manufacturing and distribution of asbestos-based products:

• Johns-Manville
  
  

• James Hardie Industries
  
  

• VISAKA Industries Ltd.
  
  

• Everest Industries Ltd.
  
  

• Hyderabad Industries Ltd. (HIL)
  
  

• Armstrong World Industries
  
  

• Ramco Industries
  
  

• UAL Industries Ltd.
  
  

• Arl Infratech Ltd.
  
  

• Pacor, Inc.
  
  

• Sahyadri Industries Pvt. Ltd.
  
  

• Royal Uniforce Roofing Pvt. Ltd.
  
  

• China National Building Material Company
  
  

• Unarco
  
  

• BPI Holdings International Inc.
  
  

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 Trends & Challenges

 Growth Drivers

• Infrastructure projects in developing economies
  
  

• Durability and fire resistance of asbestos-based products
  
  

• Demand in niche industrial applications
  
  

 Risks & Barriers

• Stringent health regulations due to carcinogenic nature of asbestos fibers
  
  

• Increasing environmental and occupational safety concerns
  
  

• Shift towards non-toxic and sustainable alternatives
  
  

• Class-action lawsuits and high insurance liabilities in certain regions
  

 Further Research & Customization

Explore in-depth forecasts, country-level trends, competitive landscapes, and regulatory analysis in the full market report: