Cement Board Industry Overview
|Fastest Growing Market:||Asia-Pacific|
|CAGR:||> 5 %|
*Disclaimer: Major Players sorted in no particular order
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Cement Board Market Analysis
The global cement board market is expected to reach 570 million square meters by the end of this year and is expected to register a CAGR of more than 5% during the forecast period.
- Over the short term, the rising residential construction worldwide and desirable properties of impact resistance and durability are major factors driving the growth of the market studied.
- However, the high initial cost compared to its traditional counterparts is a key factor anticipated to restrain the growth of the target industry over the forecast period.
- Nevertheless, the rising trends for aesthetic improvement are likely to create lucrative growth opportunities for the global market soon.
- Asia-Pacific is estimated to witness healthy growth over the assessment period in the cement board market.
Cement Board Industry Segments
A cement board combines cement and reinforcing fibers formed into sheets of varying thicknesses that are typically used as a tile backing board. Cement board is also fabricated in thin sheets with polymer-modified cement to allow bending for curved surfaces. The cement board market is segmented by product type (fiber cement board, wood wool cement board, wood strand cement board, and cement bonded particle board), application (flooring, exterior and partition walls, roofing, columns and beams, facades, weatherboard, and cladding, acoustic and thermal insulation, and other applications (prefabricated houses, permanent shuttering, fire-resistant construction, etc.), end-user industry (residential, commercial, and industrial and institutional), and geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa).
The report offers market size and forecasts for all the above segments in volume (million square meters). The report also covers the sizes and forecasts for the cement board market in 15 countries across the major region. For each segment, market sizing and forecasts have been done on the basis of volume (million square meters).
|Fiber Cement Board (FCB)|
|Wood Wool Cement Board (WWCB)|
|Wood Strand Cement Board (WSCB)|
|Cement Bonded Particle Board (CBPB)|
|Exterior and Partition Walls|
|Columns and Beams|
|Facades, Weatherboard, and Cladding|
|Acoustic and Thermal Insulation|
|Other Applications (Prefabricated Houses, Permanent Shuttering, Fire-resistant Construction, etc.)|
|Industrial and Institutional|
Cement Board Market Trends
Increasing Demand in the Commercial Sector
- The commercial sector is a key segment of the cement board market. Furthermore, the office sector is one of the crucial markets for the applications of cement boards in the commercial segment. With the increasing commercial activities worldwide, the demand for cement boards in this segment is increasing at a good pace.
- The Asia-Pacific region has been a thriving market for office spaces in recent years and is one of the largest markets for the commercial construction sector. Demand for office spaces in India and China has been proliferating for many years. With the demand from technology, e-commerce companies, and banking-financial services, the office space requirement is significantly rising, resulting in the construction of new offices in the region.
- Asia-Pacific has been driving growth in the global hotel industry; 667 new hotels are estimated to have launched in 2021, adding 162,102 rooms to APAC’s hotel offering. This rapid growth will continue in 2022 with 444 planned hotels and 111,798 rooms, followed by another 179 properties with 43,735 rooms for 2023. 515 hotels with 127,104 rooms are confirmed for 2024.
- China is one of the leading countries in shopping-center construction. China has almost 4,000 shopping centers, while 7,000 more are estimated to be open by 2025.
- North America has been witnessing healthy growth in the commercial construction sector, owing to significant investments in the United States and Canada. Around 1,162 new hotels with 35,228 rooms are estimated to have opened in 2021 in the United States.
- The US commercial construction sector had substantial expansion, growing from USD 86.82 billion in 2020 to USD 91.03 billion in 2021, according to the US Census Bureau.
- Various construction firms consider that Europe has a long future for office spaces and retail spaces. Also, several companies have invested in construction projects in the commercial sector, which is driving the demand for cement boards. For instance, STRABAG together with Aspira Construction and Instalace Praha will be constructing 6,300 m² of retail space and 8,000 m² of office space in the Smíchov City urban development area, Prague. Additionally, Skanska, a Swedish construction company invested USD 60.5 million in the construction of Hyllie Terrass, a climate-neutral office building in Sweden.
- Such factors are continuously driving the demand for cement boards for commercial construction and handsome growth is expected during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market share, with China dominating the market.
- China is promoting and undergoing a process of continuous urbanization, with a target rate of 70% for 2030. The increased living spaces required in the urban areas resulting from urbanization and the desire of middle-class urban residents to improve their living conditions may have a profound effect on the housing market and thereby increase the residential construction in the country, which in turn, is expected to have a positive effect on the cement board market in the country.
- Due to the slowdown in China's real estate industry, amid a tightening of regulatory controls to limit borrowing by developers, the Chinese construction industry registered a relatively low growth of 2.1% in 2021.
- In the second half of 2021, both residential and non-residential construction slowed down due to tightened control by regulators over-borrowing by developers. Furthermore, the country’s second-largest real estate developer Evergrande Group has faced debt repayment issues which further slowed down many construction projects.
- However, the construction sector in the country is expected to recover from this slump by the end of this year due to a government push that will support the growth of the cement board market in the country. For instance, Evergrande plans to complete around 600,000 residential units in 2022.
- According to the National Bureau of Statistics (NBS), the construction industry's value add index fell by 2.1% year-on-year in Q4 2021, preceded by a year-on-year decline of 1.8% in Q3 and growth of 1.8% in Q2 2021.
- In India, the government is pushing for huge projects in the next few years. The government’s Housing for All initiative aims to build more than 20 million affordable homes for the urban poor by 2022. This will provide a significant boost to residential construction, which will account for more than a third of the industry’s total value by 2023.
- According to the Ministry of Statistics and Programme Implementation, the construction sector is likely to grow in double digits at 10.7% in FY22 in a rebound from a contraction of 8.6% last year, aided by the base effect and growth in the economy.
- India's construction industry was valued at over INR 3.3 trillion (USD 40.55 billion) in the second quarter of 2022. This was a significant increase compared to the second quarter of 2021.
- Overall, the demand growth for the market studied in the rest of Asia-Pacific is expected to remain moderate during the forecast period.
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Cement Board Market Competitor Analysis
The cement board market is partially fragmented in nature. However, the top four to five players own a significant global market share. Some of the major players in the market include James Hardie Industries PLC, Etex Group, Saint-Gobain, Johns Manville, and NICHIHA Co. Ltd, among others.
Cement Board Market Top Players
James Hardie Industries Plc.
NICHIHA Co., Ltd
*Disclaimer: Major Players sorted in no particular order
Cement Board Market Recent Developments
The recent developments pertaining to the major players in the market are covered in the complete study.
Cement Board Market Report - Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Rising Residential Construction Across the World
4.1.2 Desirable Properties of Impact Resistance and Durability
4.2.1 High Initial Cost in Comparison to Traditional Counterparts
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Import/Export Trends
4.6 Production Process
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 Product Type
5.1.1 Fiber Cement Board (FCB)
5.1.2 Wood Wool Cement Board (WWCB)
5.1.3 Wood Strand Cement Board (WSCB)
5.1.4 Cement Bonded Particle Board (CBPB)
5.2.2 Exterior and Partition Walls
5.2.4 Columns and Beams
5.2.5 Facades, Weatherboard, and Cladding
5.2.6 Acoustic and Thermal Insulation
5.2.7 Other Applications (Prefabricated Houses, Permanent Shuttering, Fire-resistant Construction, etc.)
5.3 End-user Industry
5.3.3 Industrial and Institutional
220.127.116.11 South Korea
18.104.22.168 Rest of Asia-Pacific
5.4.2 North America
22.214.171.124 United States
126.96.36.199 United Kingdom
188.8.131.52 Rest of Europe
5.4.4 South America
184.108.40.206 Rest of South America
5.4.5 Middle-East and Africa
220.127.116.11 Saudi Arabia
18.104.22.168 South Africa
22.214.171.124 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 Etex Group
6.4.2 Elementia Materials
6.4.3 Everest Industries Limited
6.4.4 James Hardie Industries PLC
6.4.5 Johns Manville
6.4.6 Knauf Gips KG
6.4.8 BetonWood SRL
6.4.9 Cembrit Holding A/S
6.4.10 HIL Limited
6.4.12 NICHIHA Co. Ltd
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Trends for Aesthetic Improvement
Cement Board Market Research FAQs
What is the study period of this market?
The Cement Board Market market is studied from 2017 - 2027.
What is the growth rate of Cement Board Market?
The Cement Board Market is growing at a CAGR of >5% over the next 5 years.
Which region has highest growth rate in Cement Board Market?
Asia-Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Cement Board Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Cement Board Market?
James Hardie Industries Plc., Etex Group, Saint-Gobain, Johns Manville, NICHIHA Co., Ltd are the major companies operating in Cement Board Market.
Cement Board Industry Reports
In-depth industry statistics and market share insights of the Cement Board sector for 2020, 2021, and 2022. The Cement Board research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Cement Board report PDF.