Global Cement Board Market Insights Forecasts to 2033

• The Global Cement Board Market Size was Valued at USD 12.3 Billion in 2023
• The Market Size is Growing at a CAGR of 5.55% from 2023 to 2033
• The Worldwide Cement Board Market Size is Expected to Reach USD 21.1 Billion by 2033
• Europe is Expected to Grow the fastest during the forecast period.

The Global Cement Board Market Size is Anticipated to Exceed USD 21.1 Billion by 2033, Growing at a CAGR of 5.55% from 2023 to 2033.

Market Overview

Cement Board (CB) is a building material made by combining cement and various organic or mineral fibers in predetermined ratios. Adding fiber to cement provides numerous benefits, including increased flexibility and crack resistance. Furthermore, using the product ensures the creation of high-quality, long-lasting furniture that is extremely 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. The product is commonly used for siding applications in bathrooms and kitchens due to its excellent durability, water resistance, and waterproof nature. Rising construction spending, particularly for new homes, is expected to drive up product demand.

Report Coverage

This research report categorizes the market for the global cement board market based on various segments and regions forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the global cement board market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the global cement board market.

Driving Factors

Cement boards provide numerous benefits to a variety of end-use industries, including residential, commercial, and industrial. It is extremely durable and can withstand many years of harsh conditions. Cement boards can survive storm at the hurricane level, as the siding defends the house from exposure to wind and rain and hail. In comparison to water-resistant gypsum boards, cement board increases the wall surface's impact resistance and strength. For homeowners, fire is a major concern. Cement board contains more than 90% non-inflammable content. Cement board, with its high bending strength, elasticity, and thickness, is also widely used in flooring, underlayment, and as a tile backer board. Cement Board is widely preferred because it is lightweight and easy to handle and transport. Cement boards have a wide range of applications in residential and commercial buildings. This application encompasses underlay, fire-resistant construction, external siding, roofing, shingles, and shale, exterior and partition walls, permanent shuttering, and prefabricated houses.

Restraining Factors

Fiber cement board is a costly building material that is more expensive to install than alternatives such as vinyl boards. The increased installation costs of fiber cement products, combined with the increasing volatility in raw material prices, may hamper the growth of the fiber cement board market.

Market Segmentation

The global cement board market share is classified into type and application.

• The fiber cement board (FCB) segment is expected to hold the largest revenue share of the global cement board market over the forecast period.   

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 market with the largest revenue share of the global cement board market over the forecast period because of its long-lasting, water-resistant, and waterproof consistency. Fiber cement board is used as a siding in residential buildings, particularly in bathrooms and kitchens. Fiber cement board (FCB) is the oldest cement board type, but it is still the most widely used and manufactured. Fiber cement boards (FCB) are panel boards made with cement-reinforced fibers to increase the strength of the fiber-cement composite. When combined with a well-planned manufacturing process, fiber cement enables the development of strong and long-lasting construction materials.

• The residential & commercial segment is witnessing significant CAGR growth of the global cement board market over the forecast period.   

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 CAGR growth of the global cement board market over the forecast period. Cement board is widely used in a variety of residential applications, including walls, facades, floors, roofs, fireproofing, and many more. Furthermore, due to its low bending strength and elasticity, it is used in buildings for flooring, underlayment, and tile backing. Using cement-bonded concrete boards simplifies and reduces the cost of new floor installation, eliminating the need for wet processes or modifying the acoustic and heat-insulating properties of the existing floor structure. The growing use of cement backer board in residential and commercial building applications, due to its low cost, long life, and durability, will drive the market during the forecast period.

Regional Segment Analysis of the Global Cement Board Market

• North America (U.S., Canada, Mexico) 
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America) 
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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 its residential growth. As family incomes rise and more people move from rural to urban areas, demand for the residential construction industry is expected to rise further. The growing emphasis on affordable housing in both the public and private sectors will boost the residential construction industry. China is promoting and pursuing 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 middle-class city dwellers' desire to improve their living conditions, may have a significant impact on the housing market. This could boost residential construction across the country, benefiting the country's cement board market. The Indian government will support notable residential projects over the forecast period.

The Europe market is expected to grow at the fastest CAGR growth during the forecast period. Germany's Social Democratic government is closely monitoring the country's housing crisis. The government is establishing a new ministry to oversee its housing initiatives. In 2022, more than 400,000 new homes will be built each year, with the government sponsoring 100,000 of them. The demand for cement boards in Germany's residential sector is expected to increase. The building industry generates 6% of the country's GDP. Between 2020 and 2050, the government planned to invest between 1% and 2% of its GDP in infrastructure through the National Productivity Investment Fund to improve infrastructure for the country's citizens.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the global cement board 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.

List of Key Companies

• 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
• Others

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting And Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Developments

• In August 2022, HIL, CK Birla Group's fiber cement roofing subsidiary, agreed to buy Fast Build Blocks for $8.22 million in a'slump sale.' Fast Build Blocks makes autoclaved aerated concrete (AAC) blocks in Cuttack, Odisha. According to Press Trust of India News, HIL intends to use the acquisition to establish a market leadership position in Eastern India.

• In January 2021, Sahyadri Industries introduced Ecopro-S3 multi-use fiber cement to the Kerala market. The company is considering increasing the production of the new product at its Perundurai facility in Coimbatore, which has a capacity of approximately 13,000 tonnes. There is also a manufacturing facility in Vijayawada.

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