Cement boards are rigid fiber cement boards used widely in exterior cladding and interior wall and ceiling lining applications. Their advantages include durability, fire resistance, impact resistance and moisture resistance. They provide a robust yet cost effective solution for interior and exterior construction. The global cement board market is estimated to be valued at US$ 2.15 Bn in 2024 and is expected to exhibit a CAGR of 24% over the forecast period 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased construction activities, especially in developing regions of Asia Pacific and Latin America have been a key growth driver for the global cement board market. Rapid urbanization and industrialization along with rising disposable incomes have boosted infrastructure development and real estate construction in these regions. Furthermore, the preference for non-combustible and moisture resistant construction materials in commercial and industrial projects have further augmented the demand for cement boards. The market is expected to witness continued growth over the forecast period due to ongoing infrastructure development projects globally.
Segment Analysis
Cement Board market is segmented into Interior and exterior applications. Interior applications segment dominates the cement board market and holds around 70% of total market share owing to high usage of cement board in flooring, ceiling, wall panels and roofing of commercial as well as residential construction projects. Cement boards provide durability, moisture and fire resistance which makes them ideal material for interior construction applications.
Key Takeaways
The Global Cement Board Market Share is expected to witness high growth during the forecast period of 2024 to 2031. The market size for 2024 is US$ 2.15 Bn.
Regional analysis: Asia Pacific region holds around 45% share of the global cement board market led by China, India and other South East Asian countries. Rapid urbanization, increasing disposable income and growth in residential and commercial construction activities are fueling the demand for cement board in this region. North America and Europe are other major markets for cement boards due to developed construction industry and stringent fire protection norms.
Key players operating in the cement board market are Veritas Technologies Llc., Actifio Inc., Veeam Softwares, Commvault Systems Inc., Symantec Corporation. They are focusing on new product development and expansion in developing markets to increase their market share.
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https://www.pressreleasebulletin.com/cement-board-market-size-share-growth-outlook-2023/
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