The global Cement Board Market is estimated to be valued at US$ 1.86 Bn in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cement board is a rigid building material made of cement, sand, cellulose fiber and/or binders. It is durable, fire resistant and moisture resistant. It is used in interior and exterior construction for wall and flooring applications such as tile backing, underlayment and flooring. Its advantages include strength, durability and moisture resistance.
Market key trends:
One of the key trends in the cement board market is increasing focus on green building materials. With growing environmental concerns, there is rising demand for sustainable building products. Cement boards made from Portland cement and mineral additives are considered environmentally friendly as they reduce the carbon footprint of construction. Their properties such as moisture, fire and impact resistance also help reduce energy usage in buildings. Increasing government regulations and consumer preference for green construction is expected to drive the demand for cement boards over the forecast period.
Segment Analysis
The global cement board market is segmented by type, application, and geography. By type, the market is divided into fiber cement board, cement bonded particle board, and other segments. Among these, the fiber cement board segment held the largest market share in 2022 owing to growing use of fiber reinforced cement boards as an alternative to gypsum drywalls in commercial and residential constructions. By application, the market is bifurcated into residential and non-residential construction. The residential construction segment dominates the market as cement boards are increasingly being used for wall panels, flooring, countertops, and exterior sidings in homes and apartments due to their high strength and durability.
Key Takeaways
The Global Cement Board Market is expected to witness high growth, exhibiting a CAGR of 5.4% over the forecast period, due to increasing adoption of sustainable and eco-friendly building materials. The market size for 2023 is estimated to be US$ 1.86 Bn. Asia Pacific holds the largest share of the cement board market and is expected to maintain dominance over the forecast period. Rapid urbanization and infrastructure development activities are driving the demand for cement boards in the region. Key players operating in the cement board market are Etex Group, Elementia Materials, Everest Industries Limited, James Hardie Industries PLC, Johns Manville, Knauf Gips KG, Saint-Gobain, BetonWood Srl, Cembrit Holding A/S, HIL Limited, GAF, and NICHIHA Co. Ltd.
Regional analysis
The Asia Pacific region currently holds the largest market share of around 40% due to increased construction spending in countries such as China, India, Indonesia, and Vietnam. China dominates the regional cement board market owing to wide acceptance of cement boards as a substitute for plywood in infrastructure and residential projects. Europe is another major regional market supported by strict regulations favoring green construction materials in the region.
Key players
Key players in the cement board market include Etex Group, Elementia Materials, Everest Industries Limited, James Hardie Industries PLC, Johns Manville, Knauf Gips KG, Saint-Gobain, BetonWood Srl, Cembrit Holding A/S, HIL Limited, GAF, and NICHIHA Co. Ltd. Among these, Etex Group, James Hardie, and Saint-Gobain hold a significant market share due to their diversified cement board product portfolio and global sales network across regions.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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