Cement Board Market has a rising demand for the end-use application for the commercial and non-commercial markets.
According to the current analysis of Reports and Data, the global Cement Board Market was valued at USD 14.5 Billion in 2021 and is expected to reach USD 22.21 Billion by the year 2030, at a CAGR of 4.83%. The Cement Board (FCB) is a building material that has been used in construction activities as building materials by mixing cement with various organic or mineral fibers at specified ratios. The addition of fibers to fiber cement imparts several attributes that are important to the application and serviceability of the composites. Some of these attributes include resistance to cracking, a lighter weight, and a degree of flexibility that are important to the Cement Board market. These boards are majorly used for decorative purposes such as sidings, flooring, ceiling, roofing materials, soffit and trims, and as a tile backing board. It is preferred for building good quality and long-lasting furniture and homes due to properties such as high resistance to water, fire, and termites.
The Cement Board market is witnessing significant growth because of its utilization as siding inside the house, such as bathrooms and kitchens, because of its properties such as durable and water-resistant as well as waterproof nature. In addition, accelerating construction expenditures, specifically in new housing, will spur demand. The adoption of the Fibre cement board has increased in prime end-use industries, namely residential, commercial, and others. In addition, the rapid growth of the residential sector is another factor boosting the market growth. Also, the favorable government regulations and rising awareness regarding environmental degradation are anticipated to accelerate Cement Board market growth over the projected period.
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Key companies: James Hardie Industries Plc, Etex Group NV, Everest Industries Ltd., Hume Cemboard Industries Sdn Bhd, Cembrit Holding A/S, Soben International Ltd., NICHIHA Co. Ltd, Mahapant Fibre Cement Co. Ltd., WB Construction Services Inc., Penny Panel, GAF Materials LLC, Elementia SAB de CV, and TPI Polene Public Company Ltd.
Some Key Highlights from the Report:
- Rising awareness regarding energy-efficient constructions, the need for renovation of old buildings, increasing over-cladding activities, and government regulations for green buildings are expected to propel the demand over the forecast period.
- The sand material segment is forecasted to lead the global Fibre cement board market during the forecast period. The addition of sand as material increases the binding properties of the cement. Tests have shown that the strength of cement mortar increases with increasing sand content. The segment registered the fastest growth in 2019
- The residential end-use segment is the fastest-growing segment, registering a CAGR of 5.32% owing to the rising residential construction activities to meet the requirements for the rising population.
- In the application segment, the siding is accounted for the largest market share in the Cement Board market. The chief driver for this segment is the major use of sidings to cover the exterior of a building in both commercial and domestic applications and the advantage of easy installation of Cement Boards.
- Key Industry players such as James Hardie are increasingly providing the fibre cement boards in various building, construction, and infrastructure projects.
- High costs of installation and setup are one of the important factors hindering global Cement Board market growth.
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Regional Outlook:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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