Cement Board Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Product Type (Wood Wool Cement Board, Portland Cement Board, Fiber Cement Board), By Application (Siding and Cladding, Ceilings, Flooring, Wall Panels, Others), By End User (Residential, Commercial, Industrial, Institutional), By Sales Channel (Direct Sales, Indirect Sales) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Cement Board Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Product Type (Wood Wool Cement Board, Portland Cement Board, Fiber Cement Board), By Application (Siding and Cladding, Ceilings, Flooring, Wall Panels, Others), By End User (Residential, Commercial, Industrial, Institutional), By Sales Channel (Direct Sales, Indirect Sales) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
Region: Global
Published: November 2023
Report Code: CGNBAC51
Pages: 235

The global cement board market was valued at USD 11.08 Billion in 2022 and is anticipated to reach a value of USD 15.93 Billion by 2030 expanding at a CAGR of 4.7% between 2023 and 2030.

Amid the construction materials sector, the cement board market emerges as a pivotal and expanding segment, presenting promising prospects for stakeholders. Cement boards, recognized for their adaptability and durability across diverse construction applications, hold a critical position due to their exceptional attributes like fire and moisture resistance, alongside structural reliability. This market has demonstrated consistent global growth, primarily powered by increased construction endeavors in residential and commercial domains. Influential factors fueling this expansion encompass rapid urbanization, infrastructural advancements, and the escalating demand for sustainable construction solutions. Product classification predominantly includes fiber cement boards and cement-bonded particle boards, addressing a wide spectrum of construction requirements. Notable trends involve a growing inclination toward eco-friendly construction materials, ongoing technological enhancements in manufacturing procedures, and diverse regional market variations. Challenges arise from competitive pressures and fluctuations in raw material prices, necessitating resilient strategies from industry participants. Nevertheless, the market’s outlook remains optimistic, envisioning sustained growth and innovation, supported by evolving architectural trends and a growing need for enduring, low-maintenance construction materials.

Cement Board Market Major Driving Forces

Increased Construction Activities: The market is being driven by a shift, in consumer preferences towards comfortable options, such as Cement Boards. Consumers are looking for sleep products of quality that offer enhanced comfort and relaxation.

Growing need for sustainable solutions: A notable driving force is the mounting demand for sustainable and environmentally responsible construction solutions. Cement boards, recognized for their eco-friendly properties and recyclability, seamlessly align with the surging preference for sustainable building materials.

Global Expansion and Infrastructure Development: Especially in emerging economies, rapid urbanization and the development of infrastructure substantially contribute to the expansion of the cement board market. As these regions witness heightened construction activities, the need for robust and dependable construction materials experiences a notable upswing.

Cement Board Market Key Opportunities

Expansion in Emerging Markets: Emerging markets offer substantial growth prospects for the cement board market. With these regions undergoing swift urbanization and infrastructural advancements, there exists an opportunity to meet the increasing need for robust construction materials.

Advancements in Technology: Ongoing advancements in manufacturing technologies present opportunities for developing more sophisticated cement boards. Exploring methods to improve production efficiency, reduce costs, and enhance product quality is key to industry advancement.

Continuous Product Innovation: There is a continual opportunity for innovation in the development of cement board products. The enhancement of properties, such as increased strength, flexibility, and refined designs, plays a crucial role in meeting the evolving requirements of construction and exploring new applications.

Cement Board Market Key Trends

·         The escalating focus on sustainability is driving a preference for construction materials that prioritize eco-friendliness.

·         Ongoing progress in manufacturing technologies is enabling innovative enhancements in design.

·         The swift pace of urbanization in emerging economies contributes significantly to the heightened demand for construction materials.

·         Safety concerns are driving an increasing emphasis on construction materials with fire-resistant properties.

·         Cement boards are highly valued for their adaptability in a variety of architectural designs, offering architects and builders substantial creative liberty across numerous projects.

Region-wise Market Insights

North America accounted for the largest market share at 33.3% in 2022 and is expected to register the fastest growth, expanding at a CAGR of 5.0% between 2023 and 2030.

North America's dominance in the cement board market is underpinned by its robust construction industry, technological advancements, and a steadfast dedication to sustainable building solutions. Strict adherence to safety standards has notably increased the demand for fire-resistant and durable cement boards, aligning with the growing necessity for eco-friendly and long-lasting construction materials. Continuous manufacturing innovations produce top-quality cement boards tailored to diverse construction requirements. The region's strong economic conditions, ongoing infrastructure development, and urbanization collectively reinforce North America's position in the cement board industry.

In the Asia-Pacific region, heightened construction activities are propelling the swift expansion of the cement board market. The area's strong emphasis on safety and rigorous building regulations has significantly driven the demand for durable and fire-resistant construction materials, particularly cement boards. Additionally, the adoption of sustainable construction solutions and eco-friendly materials further accelerates the market's growth. Europe's commitment to sustainable construction practices, a heightened focus on fire safety, stringent building regulations, and an increased demand for durable, eco-friendly construction materials have collectively propelled the market's growth. South America displayed promising growth due to the surge in construction activities and an increasing focus on sustainable building solutions. Meanwhile, the Middle East exhibited consistent advancement driven by extensive infrastructure development and a substantial demand for fire-resistant and durable construction materials in the region.

Segment-wise Market Analysis

·         Fiber cement boards have been establishing market superiority over alternative product types like wood wool and Portland cement boards due to their exceptional durability, weather resistance, and low maintenance features. This positions them favorably against traditional wood wool boards, which are susceptible to moisture damage and decay. Moreover, the fire-resistant properties of fiber cement boards provide a distinct advantage over both wood wool and Portland cement boards.

·         Indirect sales channels, involving distributors, retailers, and wholesalers, dominate and hold the largest market share owing to their broad market reach across diverse customer segments. They also offer cost-effectiveness by relieving manufacturers of direct marketing expenses, enabling a focus on production and innovation.

Market Competition Landscape

The global Cement Board market thrives in a highly competitive environment where numerous manufacturers vie for market share. Key players operating in this sector strategically position themselves to gain a competitive edge. Their tactics encompass a range of methods, including product innovation, unique design implementation, and the incorporation of sustainable and eco-friendly materials. These strategies are strategically aligned with the dynamic preferences of consumers. Well-established brands leverage their longstanding reputation for quality and reliability to maintain their existing market share. Meanwhile, newer entrants focus on disruptive innovations and the development of unique selling propositions, aiming to create a distinct place for themselves in this fiercely competitive landscape. This environment drives continuous advancements in technology, design, and material science, pushing the market forward and fueling a cycle of innovation and differentiation among these manufacturers.

Key players in the global Cement Board market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         SCG International Corporation

·         Saint-Gobain

·         James Hardie Industries PLC

·         Knauf

·         Nichiha Corporation

·         BetonWood SRL

·         Marley Eternit Limited (Etex Group)

·         Visaka Industries Limited

·         China National Building Material Company Limited

·         HIL

·         Ramco Industries Limited

Report Attribute/Metric


Market Revenue in 2022

USD 11.53 Billion

Market Revenue in 2030

USD 15.93 Billion

CAGR (2023 – 2030)


Base Year


Forecast Period

2023 – 2030

Historical Data

2018 to 2022

Forecast Unit

Value (US$ Bn)

Key Report Deliverable

Revenue Forecast, Growth Trends, Market Dynamics, Segmental Overview, Regional and Country-wise Analysis, Competition Landscape

Segments Covered

·   By Product Type (Wood Wool Cement Board, Portland Cement Board, Fiber Cement Board)

·   By Application (Siding and Cladding, Ceilings, Flooring, Wall Panels, Others)

·   By End User (Residential, Commercial, Industrial, Institutional)

·   By Sales Channel (Direct, Indirect)

Geographies Covered

North America: U.S., Canada and Mexico

Europe: Germany, France, U.K., Italy, Spain, and Rest of Europe

Asia Pacific: China, India, Japan, South Korea, Southeast Asia, and Rest of Asia Pacific

South America: Brazil, Argentina, and Rest of Latin America

Middle East & Africa:  GCC Countries, South Africa, and Rest of Middle East & Africa

Key Players Analyzed

SCG International Corporation, Saint-Gobain, James Hardie Industries PLC, Knauf, Nichiha Corporation, BetonWood SRL, Marley Eternit Limited (Etex Group), Visaka Industries Limited, HIL, and Ramco Industries Limited

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