Applications of cement boards are significantly increasing in the residential and commercial sectors. This is expected to fuel sales of cement boards during the forecast period.
According to Coherent Market Insights, the global cement board industry value is projected to reach US$ 2.68 billion in 2030. Global cement board sales will likely rise at 5.4% CAGR during the assessment period.
Etex Group, BetonWood Srl, Everest Industries Limited, Johns Manville, Saint-Gobain, Elementia Materials, GAF, and James Hardie Industries are few leading cement board manufacturers and suppliers. Top companies are constantly launching novel products with enhanced properties like increased moisture and acoustic performance.
Leading players are focusing on developing eco-friendly cement boards. They provide customized solutions to stand out from the crowd. Companies are also collaborating and partnering with construction companies and architects to boost their revenues. Similarly, acquisitions and mergers are gaining traction in the industry.
In March 2024, Etex Group completed acquisition of BGC’s plasterboard and fiber cement business. The acquisition is intended to expand the company’s sustainable offering in New Zealand and Australia.
Etex is a leading Belgium-based building materials manufacturer. It is constantly striving to provide its customers with high-quality products.
In March 2024, Everest Industries constructed a new fiber cement boards and wall panels plant in Karnataka, India. The new facility is expected to produce 19000 Mt/yr of Rapicon wall panels and 72000 Mt/yr of fiber cement boards.
Key Factors Propelling Cement Board Industry Growth
The global cement board industry is set to witness steady growth during the forecast period. This is due to rising usage of cement boards across residential, commercial, and industrial sectors.
Cement boards are widely used in exterior cladding, fire-resistant construction, and moisture-prone areas. This is because of their excellent moisture resistance, high strength, durability, and fireproof properties.
Rising population rate is triggering growth of residential sectors. This, in turn, is expected to propel demand for cement boards as they are often used in interior and exterior applications.
Growing demand for durable and fire-resistant materials is another key factor boosting sales growth. Similarly, rising popularity of prefabricated and modular construction will create growth avenues for the industry.
The industry is shifting toward eco-friendly cement boards. Companies are using recycled materials to reduce their environmental footprint. New alternatives like magnesium oxide boards are taking the spotlight.
Regional Insights
North America dominates the global cement board industry, and the trend will likely persist through 2030. This is due to rapid expansion of residential and commercial sectors. Growing demand for moisture resistant and durable building materials is also contributing to industry growth in North America.
Asia Pacific is expected to create lucrative growth opportunities for manufacturers of cement boards. This can be attributed to growing residential sector and increasing government initiatives.
