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Cement Board Market Size (2024 - 2029)

The cement board market is projected to experience growth driven by increasing residential construction and the material's desirable properties such as impact resistance and durability. Despite the challenge posed by its higher initial cost compared to traditional materials, the market is expected to benefit from opportunities arising from trends in aesthetic improvement. The Asia-Pacific region is anticipated to see significant expansion in the market size over the forecast period.

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Market Size of Cement Board Industry

Cement Board Market Summary
Study Period 2019 - 2029
Market Volume (2024) 637.68 Million square meters
Market Volume (2029) 818.91 Million square meters
CAGR (2024 - 2029) 5.13 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific
Market Concentration Low

Major Players

Cement Board Market Major Players

*Disclaimer: Major Players sorted in no particular order

Cement Board Market Analysis

The Cement Board Market size is estimated at 637.68 Million square meters in 2024, and is expected to reach 818.91 Million square meters by 2029, growing at a CAGR of 5.13% during the forecast period (2024-2029).

  • The increasing adoption in residential and commercial construction and desirable properties of impact resistance and durability are expected to drive the cement board market during the forecast period.
  • However, the high initial cost compared to its traditional counterparts is expected to hinder market growth.
  • Nevertheless, the rising trends for aesthetic improvement are expected to create new opportunities for the market.
  • Asia-Pacific is expected to dominate the market, with the majority of demand coming from China and India.

Cement Board Industry Segmentation

Cement boards serve as versatile building materials, finding applications in construction, renovation, and decoration. Composed of a blend of cement, water, and aggregates (like sand or silica), these boards are molded into sheets. Unlike traditional wood-based materials, cement boards exhibit reduced shrinkage and expansion, making them particularly suited for regions experiencing significant temperature and humidity variations.

The cement board market is segmented by product type, application, end-user industry, and geography. By product type, the market is segmented into fiber cement board, wood wool cement board, wood strand cement board, and cement bonded particle board. By application, the market is segmented into flooring, exterior and partition walls, roofing, columns and beams, facades, weatherboard, and cladding, acoustic and thermal insulation, and other applications (prefabricated houses, permanent shuttering, fire-resistant construction, etc.). By end-user industry, the market is segmented into residential, commercial, and industrial and institutional. The report also covers the sizes and forecasts for the cement board market in 27 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (square meters).

By Product Type
Fiber Cement Board (FCB)
Wood Wool Cement Board (WWCB)
Wood Strand Cement Board (WSCB)
Cement Bonded Particle Board (CBPB)
By Application
Flooring
Exterior and Partition Walls
Roofing
Columns and Beams
Facades, Weatherboard, and Cladding
Acoustic and Thermal Insulation
Other Applications (Prefabricated Houses, Permanent Shuttering, Fire-resistant Construction, etc.)
By End-user Industry
Residential
Commercial
Industrial and Institutional
By Geography
Asia-Pacific
China
India
Japan
South Korea
Malaysia
Thailand
Indonesia
Vietnam
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
NORDIC Countries
Turkey
Russia
Rest of Europe
South America
Brazil
Argentina
Colombia
Rest of South America
Middle East and Africa
Saudi Arabia
Qatar
United Arab Emirates
Nigeria
Egypt
South Africa
Rest of Middle East and Africa
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Cement Board Market Size Summary

The cement board market is poised for significant growth, driven by increasing residential construction and the material's desirable properties such as impact resistance and durability. However, the high initial cost compared to traditional materials poses a challenge to market expansion. Despite this, the trend towards aesthetic improvements presents promising opportunities for market growth. The Asia-Pacific region, particularly China and India, is expected to witness robust growth due to rising demand for office spaces and commercial construction. The region's thriving hotel industry and the popularity of green building practices further bolster the demand for fiber cement boards, which are recognized as sustainable building materials.

In the United States, the cement board market benefits from one of the largest construction industries globally, with significant investments in commercial construction. The market is partially fragmented, with major players like James Hardie Industries, Etex Group, and Saint-Gobain holding substantial market shares. Recent strategic moves, such as Saint-Gobain's acquisition of Hume Cemboard Industries and Everest Industries' plans to establish a new manufacturing unit in India, indicate ongoing efforts to expand production capabilities and product offerings. These developments, alongside government initiatives in India and China's urbanization efforts, are expected to drive continued demand for cement boards in the coming years.

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Cement Board Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

      1. 1.1.1 Increasing Adoption in Residential and Commercial Construction

      2. 1.1.2 Desirable Properties of Impact Resistance and Durability

      3. 1.1.3 Other Drivers

    2. 1.2 Market Restraints

      1. 1.2.1 High Initial Cost in Comparison to Traditional Counterparts

      2. 1.2.2 Other Restraints

    3. 1.3 Industry Value Chain Analysis

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Suppliers

      2. 1.4.2 Bargaining Power of Buyers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products and Services

      5. 1.4.5 Degree of Competition

  2. 2. MARKET SEGMENTATION (Market Size in Volume)

    1. 2.1 By Product Type

      1. 2.1.1 Fiber Cement Board (FCB)

      2. 2.1.2 Wood Wool Cement Board (WWCB)

      3. 2.1.3 Wood Strand Cement Board (WSCB)

      4. 2.1.4 Cement Bonded Particle Board (CBPB)

    2. 2.2 By Application

      1. 2.2.1 Flooring

      2. 2.2.2 Exterior and Partition Walls

      3. 2.2.3 Roofing

      4. 2.2.4 Columns and Beams

      5. 2.2.5 Facades, Weatherboard, and Cladding

      6. 2.2.6 Acoustic and Thermal Insulation

      7. 2.2.7 Other Applications (Prefabricated Houses, Permanent Shuttering, Fire-resistant Construction, etc.)

    3. 2.3 By End-user Industry

      1. 2.3.1 Residential

      2. 2.3.2 Commercial

      3. 2.3.3 Industrial and Institutional

    4. 2.4 By Geography

      1. 2.4.1 Asia-Pacific

        1. 2.4.1.1 China

        2. 2.4.1.2 India

        3. 2.4.1.3 Japan

        4. 2.4.1.4 South Korea

        5. 2.4.1.5 Malaysia

        6. 2.4.1.6 Thailand

        7. 2.4.1.7 Indonesia

        8. 2.4.1.8 Vietnam

        9. 2.4.1.9 Rest of Asia-Pacific

      2. 2.4.2 North America

        1. 2.4.2.1 United States

        2. 2.4.2.2 Canada

        3. 2.4.2.3 Mexico

      3. 2.4.3 Europe

        1. 2.4.3.1 Germany

        2. 2.4.3.2 United Kingdom

        3. 2.4.3.3 France

        4. 2.4.3.4 Italy

        5. 2.4.3.5 Spain

        6. 2.4.3.6 NORDIC Countries

        7. 2.4.3.7 Turkey

        8. 2.4.3.8 Russia

        9. 2.4.3.9 Rest of Europe

      4. 2.4.4 South America

        1. 2.4.4.1 Brazil

        2. 2.4.4.2 Argentina

        3. 2.4.4.3 Colombia

        4. 2.4.4.4 Rest of South America

      5. 2.4.5 Middle East and Africa

        1. 2.4.5.1 Saudi Arabia

        2. 2.4.5.2 Qatar

        3. 2.4.5.3 United Arab Emirates

        4. 2.4.5.4 Nigeria

        5. 2.4.5.5 Egypt

        6. 2.4.5.6 South Africa

        7. 2.4.5.7 Rest of Middle East and Africa

Cement Board Market Size FAQs

The Cement Board Market size is expected to reach 637.68 million square meters in 2024 and grow at a CAGR of 5.13% to reach 818.91 million square meters by 2029.

In 2024, the Cement Board Market size is expected to reach 637.68 million square meters.

Cement Board Market Report Snapshots

Cement Board Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)