New York, United States, April 16, 2024 (GLOBE NEWSWIRE) -- The Global Cement Board Market Size is to Grow from USD 12.3 Billion in 2023 to USD 21.1 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 5.55% during the projected period.
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A cement Board (CB) is a building material composed of cement and various organic or mineral fibers in predetermined ratios. Adding fiber to cement has many advantages, including increased flexibility and crack resistance. Furthermore, using the product results in high-quality, long-lasting furniture that is highly resistant to termites, fire, and water. Fiber cement board is commonly used for siding, flooring, ceilings, roofing materials, soffit and trims, and tile backing boards. Cement boards offer numerous advantages to a wide range of end-use industries, including residential, commercial, and industrial. It is extremely durable and can withstand years of harsh weather. Cement boards can withstand hurricane-force winds, rain, and hail because the siding protects the house from these elements. When compared to water-resistant gypsum boards, cement board improves the wall surface's impact resistance and strength. For homeowners, fire is a major concern. Cement board has more than 90% non-flammable content. A cement board, with its high bending strength, elasticity, and thickness, is commonly used in flooring, underlayment, and as a tile backer board. Cement board is widely used because it is lightweight and simple to handle and transport. However, fiber cement board is a high-cost building material that is more expensive to install than vinyl boards. Increased installation costs for fiber cement products, combined with increasing volatility in raw material prices, may hamper the growth of the fiber cement board market.
Browse key industry insights spread across 200 pages with 120 Market data tables and figures & charts from the report on the "Global Cement Board Market Size, Share, and COVID-19 Impact Analysis, By Type (Fiber Cement Board (FCB), Wood Wool Cement Board (WWCB), Cement Bonded Particle Board (CBPB), Wood Strand Cement Board (WSCB)), By Application (Residential & Commercial Buildings, Road Construction, Furniture, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033.
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The fiber cement board (FCB) segment dominates the global cement board market with the largest revenue share over the anticipation timeframe.
Based on the type, the global cement board market is categorized into fiber cement board (FCB), wood wool cement board (WWCB), cement bonded particle board (CBPB), and wood strand cement board (WSCB). Among these, the fiber cement board (FCB) segment is dominating the global cement board market with the largest revenue share over the anticipation timeframe. Because of its long-lasting, water-resistant, and waterproof properties. Fiber cement board is commonly used as siding in residential buildings, especially in bathrooms and kitchens. Fiber cement board (FCB) is the oldest type of cement board, but it remains the most popular and manufactured. Fiber cement boards (FCB) are panel boards that use cement-reinforced fibers to improve the strength of the fiber-cement composite.
The residential & commercial segment is witnessing significant CAGR growth of the global cement board market over the anticipation timeframe.
Based on the application, the global cement board market is categorized into residential & commercial buildings, road construction, furniture, and others. Among these, the residential & commercial segment is witnessing significant growth of the global cement board market over the anticipation timeframe. Cement board is used in a wide range of residential applications, including walls, facades, floors, roofs, fireproofing, and many others. Furthermore, due to its low bending strength and elasticity, it is used in construction as flooring, underlayment, and tile backing. Using cement-bonded concrete boards simplifies and lowers the cost of new floor installation by eliminating the need for wet processes or altering the acoustic and heat-insulating properties of the existing floor structure.
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Asia Pacific is anticipated to hold the largest share of the global cement board market over the predicted timeframe.
Asia Pacific is projected to hold the largest share of the global cement board market over the forecast period. It is expected that China's demographics will drive residential development. As family incomes rise and more people move from rural to urban areas, demand for residential construction is expected to increase even more. The increased emphasis on affordable housing in both the public and private sectors will benefit the residential construction industry. China encourages and pursues continuous urbanization, with a target rate of more than 70% by 2030. The need for more living space in cities as a result of urbanization, combined with the desire of middle-class city dwellers to improve their living conditions, has the potential to significantly impact the housing market.
The Europe market is expected to grow at the fastest CAGR growth during the forecast period. The German Social Democratic government is closely monitoring the country's housing crisis. The government is creating a new ministry to manage its housing initiatives. By 2022, more than 400,000 new homes will be built per year, with the government funding 100,000 of them. The demand for cement boards in Germany's residential sector is expected to grow.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global cement board market are Betonwood, BNBM Suzhou Co., Ltd, Certain Teed Corporation, Cetris®, Euroform Products LTD, GAF Materials Corporation, James Hardie Building Product Inc, Knauf, Owen Corning, Restek, Atermit, Cembrit Holding AS, Everest Industries Limited, Etex Group, Elementia Materials, and Others.
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Recent Developments
- In August 2022, HIL, CK Birla Group's fiber cement roofing subsidiary, agreed to acquire Fast Build Blocks for $8.22 million in a "slump sale." Fast Build Blocks produces autoclaved aerated concrete (AAC) blocks in Cuttack, Odisha. According to Press Trust of India News, HIL plans to use the acquisition to establish market leadership in Eastern India.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global cement board market based on the below-mentioned segments:
Global Cement Board Market, By Type
- Fibre Cement Board (FCB)
- Wood Wool Cement Board (WWCB)
- Cement Bonded Particle Board (CBPB)
- Wood Strand Cement Board (WSCB)
Global Cement Board Market, By Application
- Residential & Commercial Buildings
- Road Construction
- Furniture
- Others
Global Cement Board Market, By Region
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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