Cement Board Market Size (2024 - 2029)

The cement board market is projected to experience growth driven by increasing residential construction and the material's desirable properties such as impact resistance and durability. Despite the challenge posed by its higher initial cost compared to traditional materials, the market is expected to benefit from opportunities arising from trends in aesthetic improvement. The Asia-Pacific region is anticipated to see significant expansion in the market size over the forecast period.

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Market Size of Cement Board Industry

Cement Board Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Cement Board Market Major Players

*Disclaimer: Major Players sorted in no particular order

Cement Board Market Analysis

The global cement board market size is estimated at 606.68 million square meters in 2023. It is expected to reach 778.40 million square meters by 2028, registering a CAGR of 5% during the forecast period (2023-2028).

For the next few years, the rising residential construction worldwide and desirable properties of impact resistance and durability are major factors driving the market's growth.

On the other hand, the high initial cost compared to its traditional counterparts is a key factor anticipated to restrain the growth of the target industry over the forecast period.

Nevertheless, the rising trends for aesthetic improvement are likely to create lucrative growth opportunities for the global market soon.

Asia-Pacific is estimated to witness healthy growth over the assessment period in the cement board market.

Cement Board Industry Segmentation

A cement board combines cement and reinforcing fibers formed into sheets of varying thicknesses that are typically used as tile backing boards. Cement boards are also fabricated in thin sheets with polymer-modified cement to allow bending for curved surfaces.

The cement board market is segmented by product type (fiber cement board, wood wool cement board, wood strand cement board, and cement bonded particle board), application (flooring, exterior and partition walls, roofing, columns and beams, facades, weatherboard, and cladding, acoustic and thermal insulation, and other applications (prefabricated houses, permanent shuttering, fire-resistant construction, etc.), end-user industry (residential, commercial, and industrial and institutional), and geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The report also covers the sizes and forecasts for the cement board market in 15 countries across major regions. For each segment, market sizing and forecasts have been done on the basis of volume (million square meters).

Product Type
Fiber Cement Board (FCB)
Wood Wool Cement Board (WWCB)
Wood Strand Cement Board (WSCB)
Cement Bonded Particle Board (CBPB)
Application
Flooring
Exterior and Partition Walls
Roofing
Columns and Beams
Facades, Weatherboard, and Cladding
Acoustic and Thermal Insulation
Other Applications (Prefabricated Houses, Permanent Shuttering, Fire-resistant Construction, etc.)
End-user Industry
Residential
Commercial
Industrial and Institutional
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
France
United Kingdom
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle-East and Africa
Saudi Arabia
South Africa
Rest of Middle-East and Africa
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Cement Board Market Size Summary

The cement board market is poised for significant growth, driven by increasing residential construction and the material's desirable properties such as impact resistance and durability. However, the high initial cost compared to traditional materials poses a challenge to market expansion. Despite this, the trend towards aesthetic improvements presents promising opportunities for market growth. The Asia-Pacific region, particularly China and India, is expected to witness robust growth due to rising demand for office spaces and commercial construction. The region's thriving hotel industry and the popularity of green building practices further bolster the demand for fiber cement boards, which are recognized as sustainable building materials.

In the United States, the cement board market benefits from one of the largest construction industries globally, with significant investments in commercial construction. The market is partially fragmented, with major players like James Hardie Industries, Etex Group, and Saint-Gobain holding substantial market shares. Recent strategic moves, such as Saint-Gobain's acquisition of Hume Cemboard Industries and Everest Industries' plans to establish a new manufacturing unit in India, indicate ongoing efforts to expand production capabilities and product offerings. These developments, alongside government initiatives in India and China's urbanization efforts, are expected to drive continued demand for cement boards in the coming years.

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Cement Board Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Drivers

      1. 1.1.1 Rising Residential Construction Across the World

      2. 1.1.2 Desirable Properties of Impact Resistance and Durability

    2. 1.2 Restraints

      1. 1.2.1 High Initial Cost in Comparison to Traditional Counterparts

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Consumers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

    5. 1.5 Import/Export Trends

    6. 1.6 Production Process

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 Product Type

      1. 2.1.1 Fiber Cement Board (FCB)

      2. 2.1.2 Wood Wool Cement Board (WWCB)

      3. 2.1.3 Wood Strand Cement Board (WSCB)

      4. 2.1.4 Cement Bonded Particle Board (CBPB)

    2. 2.2 Application

      1. 2.2.1 Flooring

      2. 2.2.2 Exterior and Partition Walls

      3. 2.2.3 Roofing

      4. 2.2.4 Columns and Beams

      5. 2.2.5 Facades, Weatherboard, and Cladding

      6. 2.2.6 Acoustic and Thermal Insulation

      7. 2.2.7 Other Applications (Prefabricated Houses, Permanent Shuttering, Fire-resistant Construction, etc.)

    3. 2.3 End-user Industry

      1. 2.3.1 Residential

      2. 2.3.2 Commercial

      3. 2.3.3 Industrial and Institutional

    4. 2.4 Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 France

        3. 2.4.3.3 United Kingdom

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Rest of South America

      5. 2.4.5 Middle-East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 South Africa

        3. 2.4.5.3 Rest of Middle-East and Africa

Cement Board Market Size FAQs

The Cement Board Market is projected to register a CAGR of 5% during the forecast period (2024-2029)

James Hardie Industries Plc., Etex Group, Saint-Gobain, Johns Manville and NICHIHA Co. Ltd are the major companies operating in the Cement Board Market.

Cement Board Market Report Snapshots

Cement Board Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)