CEMENT BOARD MARKET ANALYSIS

Cement Board MarketSize and Trends

Global cement board market size was valued at US$ 1.76 Bn in 2022, and is expected to exhibit compound annual growth rate (CAGR) of 4.7% from 2023 to 2030. Increasing investment in construction sector is expected to drive the cement board market growth. According to the US Census Bureau, in November 2021, the construction spending in the U.S. was estimated at a seasonally adjusted annual rate of US$ 1,625.9 billion, 0.4% more than the revised October estimate of US$ 1,618.8 billion. Additionally, the November 2021 estimation was 9.3% more than the November 2020 estimate of US$ 1,487.2 billion. Moreover, from January to November 2021, construction spending amounted to US$ 1,463.2 billion, 7.9% above US$ 1,355.6 billion for the same period in 2020. Additionally, rise in single-family homes in developed countries is again fostering market growth.

Global Cement Board Market- Trends

• Developing ubiquity of acoustic and warm protection in homes: Growing popularity of acoustic and thermal insulation in homes is expected to drive the market growth over the forecast period. Cement boards are highly dense, and this makes them suitable for insulating airborne and impact noises. As cement boards are heavy, these make it difficult for sound to move through them. Moreover, the cement board also exhibit more mass than gypsum which makes difficult for sound waves to bounce against it. For this reason, cement boards are excellent for soundproofing. Prefabricated buildings construction is gaining popularity as it is a lean approach for fast, quality delivery with reduced wastage. Prefabrication reduces the time needed for constructing buildings, as the setup is quite easy. This is expected to drive the market growth over the forecast period.