June 18, 2024

Cement Board Market Is Driven By Rising Construction Activities Around The Globe

Cement board, also known as fiber cement board, is made of sand, cement and cellulose fiber under high pressure and temperature. It offers several advantages over other construction materials such as wood due to its non-combustible and moisture resistant nature. Cement boards are gaining popularity as substitutes for drywall in areas prone to high moisture levels such as kitchens, bathrooms and laundry rooms. They are also used as siding and paneling on building exteriors.

The global Cement Board Market is estimated to be valued at Us$ 1.86 Bn in 2024 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 key trends:

One of the key trends in the cement board market is the increasing adoption of cladding applications. Cement boards are increasingly being used as cladding material on building facades and exterior walls. Cladding provides an aesthetically pleasing and protective exterior skin to buildings. Cement boards offer benefits of reduced maintenance, higher durability, and weather resistance compared to conventional cladding materials. Manufacturers are innovating to develop cement boards suitable for complex curved cladding designs to increase their usage in commercial construction. Another major trend is the rising popularity of green cement boards. Manufacturers are focusing on reducing the carbon footprint of cement boards by utilizing recycled content and lowering the usage of Portland cement during production. This is expected to drive the demand for sustainable cement board options in the coming years.

 

Porter’s Analysis

Threat of new entrants: The high capital requirements and existing economies of scale of major players act as a barrier for new companies.

Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of numerous substitute products.

Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of substitute raw materials.

Threat of new substitutes: Products like fiber cement board and drywall offer substitutes but cement board has an advantage in moisture and fire resistance.

Competitive rivalry: Competition is high among the major players to gain market share and utilize existing production capacity fully.

Key Takeaways

The Global Cement Board Market Demand is expected to witness high growth over the forecast period of 2023 to 2030.

 

Regional analysis:

 

The Asia Pacific region holds the major share of the global cement board market currently. China dominates the Asia Pacific and global market due to the huge demand from new infrastructure and real estate projects. The Middle East and Africa region is expected to witness the highest growth over the forecast period due to rapid urbanization and infrastructure development projects in countries like Saudi Arabia, UAE, Qatar, etc.

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. Major players are focusing on new product launches for gaining a higher market share.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it