Cement board is a versatile building material commonly used for interior and exterior cladding and flooring. It provides moisture and impact resistance while being fireproof and termite-proof. The boards are durable and require low maintenance. 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 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The global cement board market growth is driven by increasing infrastructure development activities around the world. Rapid urbanization and industrialization has increased the demand for new residential and commercial construction which utilizes cement boards extensively. Moreover, government initiatives towards development of roads, highways, bridges and other infrastructure projects has also augmented the sales of cement boards. The market is expected to grow substantially during the forecast period supported by rising construction activities globally.
Segment Analysis
The cement board market is dominated by the residential sub-segment. Cement boards are widely used in residential constructions for exterior siding, soffits, and roofing applications. They provide excellent durability and resistance to fire, rot, and insects. Cement boards do not swell, warp, or crack under wet conditions like wood. This makes them a preferable material for exterior construction over other substitutes.
Key Takeaways
The Global Cement Board Market Size is expected to witness high growth over the forecast period of 2023 to 2030. Rapid urbanization and growth in the construction industry across developing regions will drive market expansion.
Regional analysis
The Asia Pacific region currently dominates the global cement board market and is expected to continue its lead over the next decade. Countries like India and China are witnessing explosive housing growth due to rising incomes and urban migration. Large-scale government projects for infrastructure and housing will boost cement board consumption in the region.
Key players
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, and Saint-Gobain. The industry leaders enjoy strong brand recognition and established supply networks globally. They are focusing on capacity expansion to capitalize on cement board demand growth in emerging economies.
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