Cement board is a rigid panel made of Portland cement and sand reinforced with cellulose fibers. It is used in interior and exterior construction such as tile backing, exterior façade, soffits, and trim board. Cement boards provides moisture and mold resistance along with durability and aesthetics as compared to gypsum boards. 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 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Dynamics:

The global cement board market is primarily driven by increasing construction activities especially in developing economies of Asia Pacific and Latin America. The easy availability of labor and growing population is compelling governments to invest significantly in infrastructure development which is fueling the demand for cement boards in these regions. According to the Global Construction 2030 report, the global construction output is projected to grow by 85% to US$ 15.5 trillion by 2030. Another driver supporting the market growth is increasing adoption of cement board as an alternative to gypsum boards due to its better moisture and mold resistance properties. The rapid urbanization and rising disposable income is triggering home remodeling and renovation activities in developed regions like North America and Europe thereby augmenting the product demand.

SWOT Analysis
Strength: Cement board has high strength, durability and moisture resistance properties which make it suitable for flooring and roofing applications. It is non-combustible and fire resistant which makes it safe to use. The uniform composition and smooth finish of cement boards allow for easy installation and maintenance.
Weakness: Cement boards are heavy and require mechanical means and multiple personnel for installation. Transportation of cement boards over long distances increases costs. Variations in raw material quality can affect the uniformity and strength of final products.
Opportunity: Rapid urbanization and infrastructure growth in developing nations is driving the demand for affordable and durable construction materials. The rising popularity of Do-It-Yourself (DIY) home improvement projects provides new avenues to market cement boards. Customized cement boards with additional features cater to niche applications in commercial construction.
Threats: Strict environmental norms regarding cement and concrete production pose challenges. Substitutes like drywalls, wooden boards and composite panels are gaining acceptance for wall and floor covering applications. Volatility in raw material prices impacts the costs of cement board manufacturing.

Key Takeaways

The Global Cement Board Market Size is expected to witness high growth over the forecast period supported by robust construction industry expansion worldwide. The Asia Pacific region dominates the market currently owing to the ongoing infrastructure development projects in China, India along with residential construction boom in other Southeast Asian countries. The key players operating in the region are well-established with large production capacities and supply networks to service the huge local demand.

Regional analysis: The Asia Pacific is the fastest growing as well as largest regional market for cement boards globally. Countries like China, India, Indonesia, Vietnam and Philippines are driving significant construction activities which is propelling the requirement for cement boards in new applications. Governments’ initiatives to develop smart cities and invest in road, rail and building infrastructure will support continued demand rise through 2030.

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, Saint-Gobain, BetonWood Srl, Cembrit Holding A/S, HIL Limited, GAF, and NICHIHA Co. Ltd.

For More Insights, Read: https://www.trendingwebwire.com/cement-board-market-trends-growth-and-regional-outlook-2023-2030/