Global Cement Board Market Projected to Surpass USD 21.1 Billion by 2033 with a CAGR of 5.55%

A recent research report by Spherical Insights & Consulting forecasts a significant growth trajectory for the global cement board market, expecting it to surpass USD 21.1 billion by 2033. The market, valued at USD 12.3 billion in 2023, is anticipated to expand at a compound annual growth rate (CAGR) of 5.55% over the next decade.

This growth is primarily attributed to an increase in demand across various applications and sectors, including residential, commercial, and industrial. Notable companies driving this market expansion include 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, and Elementia Materials, among others. These key vendors are actively enhancing their product offerings and strategies to cater to the evolving needs of the market, ensuring sustained growth in the coming years.

Cement boards are essential building materials composed of cement combined with various organic or mineral fibers in specific ratios. The incorporation of fibers into cement enhances its flexibility and crack resistance, resulting in high-quality, long-lasting furniture that boasts impressive resistance to termites, fire, and water. Common applications of fiber cement boards include siding, flooring, ceilings, roofing materials, soffits, trims, and tile backing boards. These boards offer numerous benefits across diverse industries such as residential, commercial, and industrial sectors, showcasing exceptional durability that withstands harsh weather conditions, including hurricane-force winds, rain, and hail. When compared to water-resistant gypsum boards, cement boards significantly enhance the impact resistance and strength of wall surfaces. With over 90% of its content being non-flammable, cement board is also a reliable choice for fire safety.

Cement boards are favored for their lightweight nature, ease of handling, and transportation, making them widely used as flooring, underlayment, and tile backer boards. However, despite these advantages, fiber cement boards are pricier than alternative building materials like vinyl boards. The high installation costs coupled with fluctuating raw material prices can potentially slow market growth for fiber cement boards.

The global cement board market is analyzed in a detailed report covering 200 pages, including 120 market data tables and figures. The report entitled "Global Cement Board Market Size, Share, and COVID-19 Impact Analysis" categorizes the market by type — including Fiber Cement Board (FCB), Wood Wool Cement Board (WWCB), Cement Bonded Particle Board (CBPB), and Wood Strand Cement Board (WSCB) — as well as by application, which encompasses residential and commercial buildings, road construction, furniture, and other uses. The report provides insights on regional markets across North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa, with forecasts stretching from 2023 to 2033.

In terms of market dominance, the fiber cement board (FCB) segment leads with the highest revenue share, attributed to its durability, water resistance, and waterproof properties. This type of board is widely used for sidings in residential buildings, especially kitchens and bathrooms. Despite being the oldest type of cement board, FCB remains popular due to its superior strength derived from fiber reinforcement.

The residential and commercial application segment shows notable growth in the global cement board market, owing to their extensive use in applications such as walls, facades, floors, roofs, and fireproofing. The low bending strength and elasticity of cement boards simplify flooring installations by eliminating the need for wet processes and maintaining the acoustic and thermal properties of existing floor structures.

Asia Pacific is projected to capture the largest market share, driven by China's demographics and increasing urbanization, which fuels residential construction. The push for affordable housing by both public and private sectors further boosts this industrial growth. Meanwhile, Europe anticipates the fastest market growth, with Germany's government initiatives aimed at addressing the housing crisis expected to increase demand for cement boards.

The competitive analysis section evaluates major companies in the global cement board market, such as Betonwood, BNBM Suzhou Co., Ltd, Certain Teed Corporation, and others, focusing on product offerings, business strategies, and recent developments, including product innovations and strategic partnerships. This comprehensive overview allows for understanding the competitive landscape and market dynamics.