The global Cement Board Market is estimated to be valued at US$ 1.86 Bn or Billion in 2023 and is expected to exhibit a CAGR of 5.4% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Cement board is a rigid, finished panel made of Portland cement, ground sand, cellulose fibers and water. It offers durability, moisture and fire resistance as compared to other building boards. Cement boards are widely used in flooring, wall construction and exterior cladding applications in commercial and residential construction projects.

Market key trends:
The exterior facades segment dominates the cement board market as cement boards offer fire resistance and endure moisture and weather conditions better than wood and metals. They do not expand, contract or distort and reduce maintenance over the lifetime of construction. With the growing single-family residential construction, the demand for cement boards is increasing for exterior wall claddings. Technological advancements have led to the production of slimmer and lighter cement boards which are easy to install and transport. Recycled content cement boards are also gaining popularity due to increasing environmental concerns.
SWOT Analysis
Strength: Cement board is moisture and fire resistant making it suitable for use in both exterior and interior applications such as wall construction. It is also termite and pest resistant.
Weakness: Cement board is heavier compared to other building materials such as plywood which makes transportation and installation more difficult. It also has lower tensile strength.
Opportunity: Increasing construction of commercial buildings, hospitals, schools is driving the demand for cement boards as they are preferred for their fire resistant properties. Rapid urbanization is another opportunity.
Threats: Fluctuations in the prices of raw materials can impact the profit margins of cement board manufacturers. Growing popularity of cheaper substitutes like drywall panels also poses a threat.

Key Takeaways
The Global Cement Board Market is expected to witness high growth, exhibiting CAGR of 5.4% over the forecast period, due to increasing infrastructure development and construction activities across both residential and non-residential sectors.
North America dominated the global market in 2023 and is expected to continue its dominance during the forecast period. This is attributed to increasing renovation activities coupled with stringent building regulations regarding fire protection in the region. Asia Pacific is expected to be the fastest growing regional market driven by rapid infrastructure development and urbanization in countries such as China and India.
Key players operating in the cement board market are Etex Group, Elementia Materials, Everest Industries Limited, James Hardie Industries PLC, Johns Manville, Knauf Gips KG, Saint-Gobain, BetonWood Srl, Cembrit Holding A/S, HIL Limited, GAF, and NICHIHA Co. Ltd. Product innovation and expansion into untapped markets are the key strategies adopted by these players to gain market share.

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