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Cement Board Market Snapshot

The global cement board industry is estimated to be valued at US$ 12.6 Billion in 2023. The market is projected to witness a CAGR of 5.7% to reach US$ 21.9 Billion at the end of the assessment period 2033. Numerous benefits associated with the use of cement boards, such as excellent flexibility and crack resistance is key factors bolstering the sales of cement boards across the globe.

Attributes Details
Market Size 2022 US$ 11.9 Billion
Market Size 2023 US$ 12.6 Billion
Market Size 2033 US$ 21.9 Billion
Value CAGR (2023 to 2033) 5.7%
Top 3 Countries Share (2023) 38.9%

Cement boards are sheets produced from cement and fibres containing cellulose. These boards offer excellent resistance to water compared to paper-covered gypsum and widely used in backing for tile. Tiles are commonly used in areas prone to water exposure and required a proper backing that will not develop mildew and mould or disintegrate after continued exposure to moisture.

The incorporation of these boards also guarantees the creation high quality furniture that is long lasting, resistant to fire, termites, and water. Boards along with tile backing also widely utilized in floorings, sidings, roofing materials, ceilings, trims, and soffit.

These are also widely utilized for siding applications in kitchens and bathrooms due their numerous advantages, such as excellent durability and water resistance, as well as their waterproof nature. These boards can be used in interiors or exteriors and can be attached to both steel and wood studs in residential, commercial, and industrial installations.

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Historic Market Vs Forecast Market Outlook

Increased rate of construction activities and rise in the number of residential buildings and commercial buildings along with increased usage of cement boards in construction projects has bolstered the market with a stagnant growth rate of 4.9% over the historical period of 2018 to 2022. These boards are easy to install, handle, and offer a wide array of beneficial properties, such as fire resistance, impact resistance, and moisture resistance. These beneficial properties make them preferable for several applications including floors and roofs, ceilings, exterior and partition walls, and fire resistant furniture.

Industrial, agricultural, domestic, and residential structures all frequently use roofing and cladding applications, especially for new construction and remodelling projects. A fibre cement floor can withstand a lot of pressure in areas with a lot of foot activity. Similarly, the cement fibreboard serves as the foundation for tiling floors and walls. Due to its durability and water resistance, it serves as a strong foundation for tiling.

Increasing residential and commercial construction, growing consumer disposable income, and rising trends for aesthetic improvements in residential and commercial buildings are projected to boost the industry with a significant CAGR of 5.7% during the forecast period. Increasing demand for durable building products and rising concerns associated with the weather conditions and insulation of concrete along with the implementation of regulatory norms regarding the reduction of hazardous chemicals to proliferate the industry growth.

Beneficial properties associated with cement board ramp up the industry growth

These boards are extremely durable and impact resistant. These boards are also environmentally friendly and pest, fungus, water, fire, and vermin resistant. These boards reduce construction time and square footage in construction projects. These boards are versatile building materials that which are produced from a variety of organic and textiles materials. Such substances include bonded particles, wool, wood strands, and wood fibres. These boards provide exceptional resistance against weather, fire, and strong winds and widely utilized in building applications.

These are widely used in building applications due to their excellent resistance properties. These boards are highly termite and vermin resistance, fire resistance, with excellent acoustic performance, ease of handling, and installation. The increasing demand for heat resistance and portable construction materials in construction applications is projected to proliferate the market growth.

Wood strand cement boards offer numerous key characteristics, such as high bending strength and elasticity, enhanced durability and impact resistance, low cost, and resistance to moisture, vermin, fungus, freeze-thaw, and fire. These beneficial properties offered by cement boards are the prominent factors increasing the utilization of these boards in partition walls, roofing, flooring, underlay and tile backing, and other applications.

Nikhil Kaitwade
Nikhil Kaitwade

Principal Consultant

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Region Wise Analysis

How North America is fairing cement board market?

North America is estimated to dominate the global cement board market in 2023 and is estimated to continue this dominance during the forecast period. Surge in a number of residential and commercial construction projects and rising consumer disposable income are anticipated to propel the demand for boards in the region.

According to a survey of American homeowners, there is a high demand for home exterior renovations as well as distinct demographic trend lines. The vast majority (76%) of homeowners' renovation plans were influenced by the likelihood of inclement weather. Since cement board is non-combustible and provides excellent home protection from extreme weather conditions such as flooding, wind, and fire, its popularity is expected to rise. With over 39,644 local and foreign companies, the furniture industry in the United States is the largest in the world, which is estimated to create ample space for manufacturer in the region.

Asia Pacific to remain one of the prominent market for cement boards manufacturers

Asia Pacific holds a significant share of the global cement boards market in 2023 and is projected to witness a robust growth rate of 6.1% during the forecast period. India is estimated to be one of the prominent countries bolstering the demand for cement board market in the region. The country’s robust residential construction backed by increasing family income, rising number of people moving from rural to urban areas, and increasing public and private partnerships to provide affordable housing units are the factors driving the market growth in the region.

Category Wise Analysis

Fiber Cement Boards to gain significant traction in the global market

The fibre cement board (FCB) is estimated to be a key segment in global market in 2023. The segment is expected to grow at a CAGR of 5.8% during the forecast period. Fibre cement boards are panel boards that utilize cement-reinforced fibres to escalate the strength of the fiber-cement composite. When combined with a well-thought-out manufacturing method, fibre cement allows for the development of robust and long-lasting construction materials. Fiber cement due to its effective and suitable cost is a physically appropriate building material for cladding and roofing.

Increasing usage of fibre cement board in roofing and cladding applications is anticipated to propel the growth of global market during the forecast period. Roofing and cladding applications are extensively used in various industries, such as agricultural, domestic, residential, and industrial buildings, particularly for renovation and new construction projects.

Residential segment to create ample space for cement boards manufacturers

Cement board is a new material that is becoming more popular in a variety of home applications such as flooring, furniture, and roofing. It is becoming more popular owing to growing health awareness and rising prices for wood and wood products. Robust growth of global furniture market, owing to increasing consumer disposable and rising consumer focus towards residential aesthetic is estimated to bolster the sales of these boards in the residential segment.

The demand for cement boards in commercial segment is projected to witness a steady growth rate during the forecast period. Increasing number of commercial buildings, such as shopping malls, office spaces, and others is driving the demand for cement boards in the commercial construction segment.

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Market Competition

The global cement boards market is partially fragmented in nature with the presence of several key players holding a significant market share. Key market participants involved in the market are focusing on the research and development of new products with enhanced applications to cater to the growing demand from end-use industries.

Key manufacturers are also focusing on the expansion of their production capacities by setting up new manufacturing facilities, especially in the emerging economies. The company also strengthening their distribution network to expand their geographical presence across the globe.

Key players operating in the market include James Hardie Building Products Inc., Etex Group, Cembrit Holding A/S, Everest, SHERA, SCG CBM, Soben International Ltd., Hume Cemboard Industries Sdn Bhd., Sanle Building Materials Industry Co., Ltd., Ramco Industries Limited, and Others.

Scope of the Report

Attribute Details
Growth Rate CAGR of 5.7% from 2023 to 2033
Base Year for Estimation 2022
Historical Data 2018 to 2022
Forecast Period 2023 to 2033
Quantitative Units Revenue in USD Billion, Volume in Tons, and CAGR from 2023-2033
Report Coverage Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered Type, Application, Construction Type, Region
Regions Covered North America; Latin America; East Asia; South Asia and the Pacific; Western Europe; Eastern Europe; Central Asia; Russia and Belarus; Balkan and Baltic Countries; The Middle East and Africa
Key Countries Covere, USA, Canada, Mexico, Brazil, Argentina, Germany, France, Spain, Italy, BENELUX, NORDICS, United Kingdom, Poland, Hungary, Romania, Czech Republic, China, Japan, South Korea, India, Association of Southeast Asian Nations, Australia and New Zealand, Kingdom of Saudi Arabia, United Arab Emirates, Türkiye, Northern Africa, South Africa, Israel
Key Companies Profiled James Hardie Building Products Inc.; Etex Group; Cembrit Holding A/S; Johns Manville; Everest Industries Limited; SHERA;SCG CBM; Soben International Ltd.; Hume Cemboard Industries Sdn Bhd.; SANLE Group; Ramco Industries Limited; Vnext by Visaka Industries; CertainTeed; Knauf Gips KG; Owens Corning; American Fiber Cement Corporation; Allura USA; Elementia Material; BetonWood SRL; NICHIHA Co. Ltd.; Others
Customization and Pricing Available upon Request

Key Segments Profiled in the Report

By Type Market is segmented as:

  • Fiber Cement Boards
  • Cement Bonded Particle Boards
  • Wood Wool Cement Boards
  • Wood Strand Cement Boards

By Application Market is segmented as:

  • Fire Resistant Construction
  • Flooring Applications
  • External Siding
  • Permanent Shuttering
  • Thermal Insulation
  • Partition Walls
  • Others

By Construction Type Market is segmented as:

  • Commercial Buildings
  • Residential Buildings
  • Industrial and Institutional

By Region Market is segmented as:

  • North America
  • Latin America
  • East Asia
  • South Asia and the Pacific
  • Western Europe
  • Eastern Europe
  • Central Asia
  • Russia and Belarus
  • Balkan and Baltic Countries
  • The Middle East and Africa

Frequently Asked Questions

At what rate is the market projected to expand during the forecast period?

During the forecast period, the market is estimated to expand at a CAGR of 5.7% from 2023 to 2033.

By 2033, what will the value of the market be?

The market is projected to reach US$ 21.9 Billion by the end of 2033.

Which region/country is set to lead the market?

USA is projected to lead the market in the forecast period.

Which are the top players in the market?

Key players operating in the market include James Hardie Building Products Inc., Etex Group, Cembrit Holding A/S, Everest, SHERA, SCG CBM, Soben International (Asia Pacific) Ltd., Penny Panel Construction., Hume Cemboard Industries Sdn Bhd., Sanle Building Materials Industry Co., Ltd., Portal Corporativo, and others.

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