Cement Board Market Size & Share Global Analysis Report, 2022-2030
Cement Board Market Share, Size, Trends, Industry Analysis Report, 2022 - 2030

Cement Board Market Share, Size, Trends, Industry Analysis Report, By Construction Type (Commercial Buildings, Residential Buildings, Industrial Buildings, and Others); By Product Type; By Application; By Region; Segment Forecast, 2022 - 2030

  • Published Date:Nov-2022
  • Pages: 117
  • Format: PDF
  • Report ID: PM2857
  • Base Year: 2021
  • Historical Data: 2018-2020

Report Outlook

The global cement board market was valued at USD 9.3 billion in 2021 and is expected to grow at a CAGR of 4.8% during the forecast period.

The benefits of cement boards across various applications, such as commercial and residential buildings, are the major factor boosting the market growth over the forecast period. A cement board performs better over time as a tile backing board than paper-faced plaster core materials because it won't degrade physically in humidity or leaks. This board is a composite material made of cement and reinforcing fibers often applied as a tile backing board. Cement is also manufactured in thin sheets with polymeric modifications to enable bending for complex shapes.

Cement Board Market Size
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Compared to standard gypsum board, cement board offers a stronger bond and support for tiles. Concrete paneling is not watertight. It also absorbs moisture, but it also dries things out quite well. A waterproofing substance is typically advised behind the floorboards or as a trowel-applied solution to the surface of the boards behind the finishing system in places constantly exposed to spray bottles.

Furthermore, the rising urbanization has led to an increase in the demand for building and construction of new facilities, driving market growth. For instance, as per the WHO, by 2050, 68% of the people worldwide, or more than 55%, are anticipated to reside in urban regions.

Also, for buildings and construction projects, cement boards create robust frameworks. These boards provide several advantageous qualities, including fire resistance, water resistance, shock resistance, and simplicity in transportation and installation. Because of these qualities, they are preferred for market applications, including floors and roofs, ceilings, external and partition walls, façade, fire-resistant furniture, etc. These benefits and various applications are boosting the demand for cement boards.

The market suffered as a result of the current coronavirus outbreak. The lockout badly hurt the construction sector, which badly affected the demand for cement boards. The COVID-19 epidemic and almost nonexistent economic activity will probably negatively influence construction growth, with short-term market effects being taken into account. Due to a lack of funding, several projects sputtered in the beginning. Due to changing consumer tastes, completed products remained unsold, indirectly contributing to the market's expansion. However, the COVID-19 pandemic is still actively spreading and very volatile, and it still needs to be determined how it will affect the company's operations and financial results in the long run.


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Industry Dynamics

Growth Drivers
The market for cement boards will continue to expand due to rising infrastructure development and residential construction spending. According to the International Journal of Science, Engineering, and Technology Research (IJSETR), the Indian government initiated several measures to upsurge the infrastructure and construction industry and allocated around $16 billion to the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The funds provided by the government were aimed at integrating the expansion of innovative infrastructure in rural areas. It aims to develop smart cities and lifts allied sectors such as construction material, cement, and steel.

Moreover, the rapid migration of the population to cities from rural areas further escalates the demand for urban cities in India. In Union Budget (2022-23), by committing US$ 130.57 billion to improve infrastructure, the government has given the sector a significant boost.  The Ministry of Housing and Urban Affairs would get USD 9.8 billion from the government.

According to IBEF, the Internal Trade department (DPIIT) estimates that foreign direct investments (FDIs) in the building construction sector (towns and villages, residences, built-up facilities, and building and construction projects) and construction activities between April 2000 and March 2022 totaled USD 26.2 billion and USD 27.9 billion, including both. Government officials added 9,335 new projects to the "National Infrastructure Pipeline" (NIP). By 2020, 217 projects totaling USD 15.1 billion were finished. Thus, the rising investments from the government for infrastructure development are boosting the demand for cement boards, driving market growth.

Report Segmentation

The market is primarily segmented based on construction type, product type, application, and region.

By Construction Type

By Product Type

By Application

By Region

  • Commercial Buildings
  • Residential Buildings
  • Industrial Buildings
  • Others
  • Fiber Cement Boards (FCB)
  • Cement Bonded Particle Boards (CBPB)
  • Wood Wool Cement Boards (WWCB)
  • Wood Strand Cement Boards (WSCB)
  • Fire Resistant Construction
  • Flooring Applications
  • External Siding
  • Permanent Shuttering
  • Thermal Insulation
  • Partition Walls
  • Others
  • North America (U.S., Canada)
  • Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
  • Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
  • Latin America (Brazil, Mexico, Argentina)
  • Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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The fiber Cement Board segment is expected to witness the fastest growth

Rising consumer demand for environmentally friendly and sustainable building materials, the advantages of the fiber boards over competing materials, and tightening government rules on the use of asbestos are the main drivers influencing segment revenue growth. FCB is the building material created by combining cement in certain amounts with different types of organic or mineral fibers.

Furthermore, Sidings, carpeting, ceiling, roofing materials, roof structure and trimmings, and tiles backing board are a few of the major uses for fiber cement board. Due to qualities including exceptional durability and water resistance along with its waterproof nature, the material is increasingly being used for siding uses in bathrooms and kitchens. Rising construction expenditure, particularly for new dwellings, is anticipated to increase product demand.

 In recent years, product acceptance has expanded in key end-use sectors such as residential, commercial, and others. The rapidly growing residential sector primarily drives the segment, and throughout the forecast period, favorable governmental policies and rising environmental awareness are anticipated to fuel market revenue growth.

The commercial segment industry accounted for the highest market share in 2021

A critical market segment for cement panels is the commercial sector. The business sector is one of the key markets for using cement panels in the commercial industry. Cement boards are in high demand in this market sector due to growing commercial activity worldwide. These reasons continue to fuel the need for cement boards in commercial construction, and steady growth is anticipated throughout the projection period.

Wood Wool Cement Board (WWCB) segment industry accounted for the largest market share in 2021

Throughout the forecast period, Wood Wool Cement Board (WWCB) is anticipated to hold a commanding position in the market due to its adaptability to various applications and durability in different climatic conditions. Moreover, ants or other insects cannot attack WWCBs. Additionally, they do not experience biological deterioration. EN 13168 and EN 13964 are also categorized as belonging to the lower A2-s, d0 class (non-combustible) and the upper B-s, d0 class (acoustic ceiling panels).

The demand in Asia-Pacific is expected to witness significant growth.

The rapidly rising urbanization along with the construction section is boosting the demand for cement boards in the Asia-Pacific region. For instance, as per the World Health Organization (WHO), China is actively encouraging and enacting a continuous urbanization process, with a 70% target rate for 2030. According to the “Healthy China 2030 Plan”, China will have established several pilot healthy cities by the year 2030. The country's housing market may be significantly impacted by the increased living spaces needed in the urban areas and booming middle class with high disposable income. This will likely lead to an increase in residential construction, which is then anticipated to positively impact the nation’s market.

Furthermore, the Indian government is pushing for massive projects to be completed in the following few years. By 2022, the "Housing for All by 2022" initiative seeks to construct 20 million low-income homes in both urban and rural locations at a budgeted amount of USD 31 billion. The Ministry of Housing and Urban Affairs is responsible for housing and residential areas in urban areas in India. The MoHUA anticipated a 30 million units housing problem, by 2022, due to the rising population. By the forecast period's conclusion, India's construction market is expected to grow to be the third-largest market globally. The worldwide hotel sector has been increasing primarily due to Asia-Pacific.

Competitive Insight

Some of the major players operating in the global market include American Fiber Cement Corporation, Allura Inc., BetonWood SRL, Biele Group, CSR Limited, Cembrit Holding, Etex Group, Elementia Materials, Everest Industries, GAF, HIL Limited, James Hardie Europe, Johns Manville, Knauf Gips, NICHIHA, Saint-Gobain, Soben International, and Toray Industries.

Recent Developments

In January 2021: Sahyadri Industries launched Ecopro-S3 multi-use fiber cement in the Keralan market.  Since the production facility at Perundurai in Coimbatore has a capacity of roughly 13,000 tonnes, the company is considering increasing the new product's production there. A manufacturing facility is also available for it in Vijayawada.

In June 2020: Cembrit announced the release of Patina Rough, a distinctive through-colored cladding board with a sandblasted texture that gives the board a lovely, stone-effect appearance. With its directed surface of the particles, Patina Rough compliments the original Patina to provide architects and specifiers with a desirable selection of quality paneling for a wide range of exterior applications.

Cement Board Market Report Scope

Report Attributes


Market size value in 2022

USD 9.7 billion

Revenue forecast in 2030

USD 14.1 billion


4.8% from 2022 - 2030

Base year


Historical data

2018 - 2020

Forecast period

2022 - 2030

Quantitative units

Revenue in USD billion and CAGR from 2022 to 2030

Segments Covered

By Product Type, By Construction Type, By Application, By Region

Regional scope

North America, Europe, Asia Pacific, Latin America; Middle East & Africa

Key Companies

American Fiber Cement Corporation, Allura Inc., BetonWood SRL, Biele Group, CSR Limited, Cembrit Holding AS, Etex Group, Elementia Materials, Everest Industries Limited, GAF, HIL Limited, James Hardie Europe GmbH, Johns Manville, Knauf Gips KG, NICHIHA Co. Ltd, Saint-Gobain, Soben International Ltd., and Toray Industries Inc.