Cement boards provide an excellent surface for interior or exterior wall and floor applications. Made of Portland cement reinforced with cellulose fibers, cement boards offer high density, moisture and impact resistance along with fire and mold protection. They can be used as tile backerboards, underlayment for flooring materials or exterior sidings. Cement boards eliminate the need for traditional drywall installation in wet areas like kitchens, bathrooms and laundries, saving time and labor. Compared to drywall paper faced boards, cement boards are more durable and require lower maintenance over the life of the structure.
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 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Urbanization and improving economic conditions in developing countries have led to strong growth in residential and commercial construction over the past few years. This has presented significant opportunities for cement board manufacturers as cement boards are emerging as a viable substitute for traditional drywall and wood paneling in wet areas, basements and exterior wall applications. Their waterproof, mold resistant and durable properties make them a sustainable building material choice compared to drywall in moist environments. Stringent building codes in Europe and North America also necessitate the use of non-combustible and fire resistant materials like cement boards for interior wall and facade applications. Factors such as these are aiding the expansion of global cement board market during the forecast period.
Threat of new entrants: The cement board market requires high initial capital investments and established distribution channels which act as entry barriers for new players.
Bargaining power of buyers: Buyers have moderate bargaining power owing to the presence of several established manufacturers providing cement boards.
Bargaining power of suppliers: A few large players dominate the raw material supply side giving them higher bargaining power over manufacturers.
Threat of new substitutes: Substitute materials like drywall pose low threat as cement boards have superior moisture and fire resistance properties.
Competitive rivalry: The market has several global players competing on the basis of product quality and pricing with low product differentiation intensifying competition.
The Global Cement Board Market Share is expected to witness high growth.
North America region currently dominates the market due to widespread construction activities in the US and Canada.
Key players operating in the cement board market are Veritas Technologies Llc., Actifio Inc., Veeam Softwares, Commvault Systems Inc., Symantec Corporation, Ca Technologies, Microsoft Corporation, Dell Technologies Inc., Ibm Corporation, and Hewlett Packard Enterprise.