Press release
Cement board Market Set to Reach $11.18 Billion by 2029 with 7% Yearly Growth
Cement board Market
The surge in residential and commercial construction is predicted to spur the expansion of the cement board market. Residential construction involves constructing private residential space, while commercial construction focuses on designing and shaping properties for commercial purposes. Cement boards are placed diagonally or sideways to secure the base of the building in both residential and commercial construction. As a result, the thriving sector of residential and commercial construction is stimulating cement board sales. The United States Census Bureau, a major US federal statistical system agency, reported that in February 2023, there were 1,524,000 privately-owned housing units on an annually adjusted basis, a 13.8% rise compared to January 2023. Hence, the flourishing residential and commercial construction industry is fueling the cement board market's growth.
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What Is the projected market size and growth rate for the cement board market?
The size of the cement board market has seen significant growth in the past few years. It is expected to rise from $8.15 billion in 2024 to $8.6 billion in 2025, with a compound annual growth rate (CAGR) of 5.5%. The historical growth can be linked back to the expansion of construction and infrastructure projects, the preference for robust and fireproof materials, environmental considerations and sustainability, emerging urbanization patterns, and adherence to regulatory standards and building codes.
Anticipations for the cement board market size foresees a strong expansion in the forthcoming years, with predictions of an escalation to $11.18 billion by 2029, alongside a compound annual growth rate (CAGR) of 6.8%. The propelling factors for this growth during the forecast period are credited to an increased appetite for high-quality construction materials, a pointed attention towards energy efficiency within structures, novel architectural designs, an upswing in residential construction, and durability amidst severe weather conditions. Noteworthy trends expected during the forecast period encapsulate the enforcement of building codes and standards, benefits concerning moisture and mold defense, market broadening in emerging regions, the emergence of prefabrication and modular construction trends, in addition to the digitization of manufacturing procedures.
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What new trends are reshaping the cement board market and its opportunities?
The trend of innovation in plant development is on the rise in the cement board market. Firms in this sector are creating cutting-edge facilities to maintain their market presence. For example, Knauf Group, a construction materials supplier based in Germany that uses sustainable gypsum drywall, inaugurated a cement board factory in Chile in April 2023. This factory, representing an investment of US$17 million, is capable of producing 7 million square meters of cement boards annually. The product produced by the plant is not only lightweight, durable, and water-resistant, making it perfect for exterior use, but also possesses fire-resistance and superior soundproofing capabilities.
What major market segments define the scope and growth of the cement board market?
The cement board market covered in this report is segmented -
1) By Product Type: Fiber Cement Board (FCB), Wood Wool Cement Board (WWCB), Wood Strand Cement Board (WSCB), Cement Bonded Particle Board (CBPB)
2) By Application: Flooring, Exterior And Partition Walls, Roofing, Columns And Beams, Facades, Weatherboard, And Cladding, Acoustic And Thermal Insulation, Other Applications
3) By End User: Residential, Commercial, Industrial And Institutional
Subsegments:
1) By Fiber Cement Board (FCB): Flat Sheets, Textured Sheets, Pre-formed Panels
2) By Wood Wool Cement Board (WWCB): Standard Boards, Acoustic Boards, Fire-Resistant Boards
3) By Wood Strand Cement Board (WSCB): Standard Boards, Insulated Boards
4) By Cement Bonded Particle Board (CBPB): Standard Boards, Structural Boards, Decorative Boards
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Which region dominates the cement board market?
Asia-Pacific was the largest region in the cement board market in 2024. The regions covered in the cement board market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Which key market leaders are driving the cement board industry growth?
Major companies operating in the cement board market include BetonWood SRL, Everest Industries Limited, Etex Group Ltd., Elementia Materiales SAB de CV, HIL Limited, GAF Materials Corporation, James Hardie Industries plc, Johns Manville Corp., Nichiha Corporation, Saint-Gobain SA, Atermit AS, LTM Group LLC, Lato OJSC, Soben Board International, Knauf Gips KG, Tepe Betopan AS, Mahaphant India Pvt.Ltd., Hume Cemboard Industries Sdn. Bhd., Visaka Industries Ltd., Allura USA, Swisspearl Group AG, Plycem USA Inc., Maxitile Ltd., American Fiber Cement Corporation, Copalcor Rolled Metals, Taisyou International Business Co. Ltd., SCG Building Materials Co. Ltd., TPI Polene Public Company Limited, Shandong Lutai Building Material Science and Technology Group Co. Ltd.
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What Is Covered In The Cement board Global Market Report?
• Market Size Forecast: Examine the cement board market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the cement board market for a structured understanding.
• Key Players Overview: Analyze major players in the cement board market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the cement board market.
• Segment Contributions: Evaluate how different segments drive overall growth in the cement board market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the cement board market.
• Industry Challenges: Identify potential risks and obstacles affecting the cement board market.
• Competitive Landscape: Review strategic developments in the cement board market, including expansions, agreements, and new product launches.
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