Cement board Market Outlook And Analysis Through 2024-2033

Overview and Scope

Cement board, also known as back board, refers to a thin layer of concrete with a fiberglass mesh on both sides. The boards’ porous nature after drying makes them easy to stick to grout and mortar. Cement boards are both heat and fire-resistant and are utilized to increase the wall surface’s impact resistance and strength.

Sizing and Forecast

The cement board market size has grown strongly in recent years. It will grow from $7.8 billion in 2023 to $8.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.0%. The growth in the historic period can be attributed to growing construction and infrastructure, preference for durable and fire-resistant materials, environmental concerns and sustainability, urbanization trends, regulatory standards and building codes..

The cement board market size is expected to see strong growth in the next few years. It will grow to $10.46 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to rising demand for high-performance construction materials, focus on energy efficiency in buildings, innovation in architectural design, growth in residential construction, resilience to harsh weather conditions .. Major trends in the forecast period include implementation of building codes and standards, advantages in moisture and mold resistance, market expansion in developing regions, prefabrication and modular construction trends, digitalization in manufacturing processes..

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Segmentation & Regional Insights

The cement board market covered in this report is segmented –

1) By Product Type: Fiber Cement Board (FCB), Wood Wool Cement Board (WWCB), Wood Strand Cement Board (WSCB), Cement Bonded Particle Board (CBPB)

2) By Application: Flooring, Exterior and Partition Walls, Roofing, Columns and Beams, Facades, Weatherboard, and Cladding, Acoustic and Thermal Insulation, Other Applications

3) By End User: Residential, Commercial, Industrial And Institutional

Asia-Pacific was the largest region in the cement board market in 2023. The regions covered in the cement board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth

The growing residential and commercial construction is expected to propel the growth of the cement board market going forward. Residential construction refers to construction of private dwelling residential space whereas commercial construction refers to the design and modelling of properties for commercial use. The cement boards are installed in a diagonal or lateral arrangement to safeguard the building’s foundation in residential and construction. Hence, the increasing residential and commercial construction sector is boosting the sales of cement boards. For instance, according to the United States Census Bureau, a US-based principal agency of the federal statistical system, in February 2023, the number of privately owned housing units were 1,524,000 on a seasonally adjusted yearly basis, an increase of 13.8% from January 2023. Therefore, the growing residential and commercial construction is driving the growth of the cement board market.

Key Industry Players

Major companies operating in the cement board market are focused on collaboration and partnerships to provide reliable services to customers. A strategic partnership refers to a structured affiliation between two or more commercial enterprises, typically established via one or more business agreements or contracts. For instance, in March 2022, Geminite Cement Industries LLC, a UAE-based manufacturer of quality building materials, partnered with Infor to integrate CloudSuite Industrial Enterprise to empower its digital path to optimize the delivery of cement boards. The solution is expected to automate and integrate various business processes, reducing manual tasks and streamlining operations across the entire plant. The cloud-based solution eliminates the need for on-premises infrastructure and IT support, resulting in significant cost savings.

The cement board market report table of contents includes: