The global cement board market size is expected to reach USD 14.1 billion by 2030, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Rapidly increasing cement board wall partition usage in commercial and residential spaces is anticipated to present attractive growth prospects. They are the most effective way to divide a room for creating pantries, cubicles, or meeting rooms. Cement board wall partitions are a very flexible alternative. This approach offers a wall's strength comparable to a traditional wall. Additionally, they are simple to install. The other expanding uses for these boards include furniture, permanent shuttering, prefabricated homes, ceilings and architraves, and fire-resistant buildings, among others.
Further, the market growth is anticipated to be boosted by the rising popularity of thermal and acoustic insulation in homes. Due to their extreme density, cement boards are excellent in isolating impact and airborne noises. Due to their weight, these boards are complex for sound to pass through. Compared to gypsum, a cement (plaster) board has more mass, making it more difficult for sound waves to bounce off. Cement boards are, therefore, excellent soundproofing materials.
Also, the construction of prefabricated buildings is becoming increasingly popular since it uses a lean methodology for quick, high-quality delivery with minimal waste. Buildings can be constructed more quickly owing to prefabrication because the setup is so simple. Throughout the projection period, this is anticipated to boost industry expansion.
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Moreover, nations are moving toward environmentally friendly building and construction practices, and governments have supported this trend with several initiatives driving the demand for cement boards. For instance, in April 2021, the Canadian Government announced the launch of a program to promote accessible and environmentally friendly community facilities across Canada through renovations, new construction, and maintenance. The program, a component of the strengthened “Climate Plan,” provided USD 1.5 billion in funding.
Cement Board Market Report Highlights
Polaris Market Research has segmented the cement board market report based on construction type, product type, application, and region:
Cement Board, Construction Type Outlook (Revenue - USD Billion, 2018 - 2030)
Cement Board, Product Type Outlook (Revenue - USD Billion, 2018 - 2030)
Cement Board, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Cement Board, Regional Outlook (Revenue - USD Billion, 2018 - 2030)