Cement board, also known as fiber cement siding, is a building material used in exterior and interior construction. It is made of sand, cement and cellulose fiber. Cement board offers durability and moisture resistance along with fireproof and termite-proof properties. It is a cheaper and low maintenance alternative to wood and vinyl sidings.

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 24% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The opportunity of reduced construction costs is expected to drive the growth of the cement board market. Cement boards are affordable and provide thermal insulation that helps reduce energy costs in buildings. Compared to expensive materials like stone, concrete and wood, cement boards offer significant savings in construction and installation costs. Furthermore, cement boards have a longer lifespan and require less maintenance and repair work over time. This eliminates recurring maintenance costs and enhances the cost-effectiveness of buildings. Cement boards prove to be a cost-effective construction material in the long-run, thereby increasing their demand especially in commercial and infrastructure projects where minimizing costs is a major priority.

Porter’s Analysis

Threat of new entrants: Medium. High capital requirements for manufacturing units and distribution network pose entry barriers. However, growing demand provides opportunities for new players to enter the market.

Bargaining power of buyers: High. Cement board manufacturers face competition based on pricing and product offerings. Buyers can choose from various domestic and international brands.

Bargaining power of suppliers: Medium. Suppliers of raw materials like cement have some pricing power, but global presence of cement companies keeps supply stable.
 

Threat of new substitutes: Low. Cement boards have few substitutes for applications like exterior cladding and roofing. However, alternative building materials may pose competition over the long term.

Competitive rivalry: High. The market is moderately fragmented with global players competing on the basis of product quality, pricing and value-added services.

SWOT Analysis

Strengths: Cement boards offer durability, moisture resistance and fire protection. They require minimal maintenance and last considerably longer than wood-based substrates.
 

Weaknesses: Cement boards are heavier than alternatives like gypsum boards. their installation requires more expertise and safety precautions.
 

Opportunities: Growing construction industry in developing regions will drive the need for durable and maintenance-free building materials. Eco-friendly variants present opportunities.
 

Threats: Fluctuations in raw material prices can squeeze profit margins. Alternative materials may gain traction based on pricing or new functionalities.

Key Takeaways

The Global Cement Board Market Demand is expected to witness high growth over the forecast period owing to rising construction activities worldwide.

Regional Analysis:

The Asia Pacific is projected to dominate the market during the forecast period. The region accounts for over 50% of the global demand and is witnessing tremendous growth in infrastructure and real estate development. China and India are the fastest growing markets in the region.

Key players operating in the cement board market are Veritas Technologies Llc., Actifio Inc., Veeam Softwares, Commvault Systems Inc., Symantec Corporation, Ca Technologies, Microsoft Corporation, Dell Technologies Inc., Ibm Corporation, and Hewlett Packard Enterprise. Global players are investing in expanding their manufacturing capacities and distribution networks in high potential regions to cater to the rising demand.

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