Cement Board Market is expected to reach US$ 35,473.56 million by 2028

Surging Demand for Energy-Efficient Buildings to Escalate Cement Board Market Growth During 2022–2028

According to our new research study on “Cement Board Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Application, and End-Use,” the cement board market size is expected to grow from US$ 23,616.63 million in 2022 to US$ 35,473.56 million by 2028; it is estimated to record a CAGR of 7.0% from 2022 to 2028. The report highlights key factors driving the cement board market growth and prominent players along with their developments in the market.

Cement boards are high in strength and lightweight. In cement board, a wide range of material combinations are used, which allows for design flexibility. The materials can be custom tailored to fit the unique specifications of each application sector. Further, cement boards are highly durable and resistant to heat, pests, and water. They can be easily molded into complicated shapes.

Global Cement Board Market Breakdown – by Region 

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Cement board is a combination of cement, glass, aggregate, and fiber reinforcements that are formed into sheets and used as tile backing boards to build walls or floors. Fiber cement board and cement bonded particle board are types of cement board. Cement bonded particle boards have high stiffness, high resistance to fire and atmospheric agents, and excellent acoustic insulation properties. They are largely used in flooring, facade, wall cladding, gates, and other construction products. Cement boards are used in various construction activities owing to its excellent physical characteristics such as noncombustible, resistance to water and UV resistant, resistance to rotting and wrapping, and others. Major factors driving the cement board market growth are growing awareness regarding benefits of cement board and surging demand for energy efficient buildings. Rapid urbanization and industrialization in developing countries, blooming construction industry, rising utilization of cement boards in end-use industries. and ban on asbestos containing cement products are further fueling the market growth. 
                 
James Hardie Industries plc; Plycem USA LLC; Everest Industries Ltd; Swisspearl Group AG; Visaka Industries Ltd; Nichiha Corp; Soben International Ltd; SCG Building Materials Co., Ltd; Etex NV; and Compagnie de Saint Gobain SA are key players operating in the global cement board market. Market players focus on providing high-quality products to fulfill customer demand. They are also adopting strategies such as investments in research and development activities and new product launches.

Impact of COVID-19 Pandemic on Cement Board Market

During the COVID-19 pandemic, falling revenue and increasing project delivery challenges led to the sector’s contraction in most markets, with a corresponding negative impact on the labor force. Builders experienced delays and increased costs for imported raw materials and off-site building materials due to many factories being shut down for long periods. North America was one of the worst-affected regions due to the COVID-19 pandemic. The US recorded the highest number of COVID-19 confirmed cases in the region. The unprecedented rise in the number of COVID-19 cases across the region and the subsequent lockdown of numerous manufacturing facilities negatively influenced the cement board market growth. According to the Office of the New York State Comptroller, construction employment in New York City declined by 14.4% in 2020, with the loss of 23,300 jobs. Decline in the growth of the building & construction industry hampered the demand for cement boards.

The report includes the segmentation of the global cement board market as follows:

The global cement board market is segmented on the basis of product type, application, and end-use. Based on product type, the market is segmented into fiber cement board and cement bonded particle board. Based on application, the global cement board market is segmented into roofing, outside siding or façade, and others. Based on end-use, the market is bifurcated into residential and non-residential. By geography, the global cement board market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America cement board market is further segmented into the US, Canada, and Mexico. The market in Europe is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific cement board market is further segmented into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America cement board market is further segmented into Brazil, Argentina, and the Rest of South & Central America.

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