Cement board, also known as fiber cement board or fiber cement siding, is a building material used in both commercial and residential construction. It is produced by combining Portland cement, sand, and cellulose fibers into flat and rigid panels. Cement boards offer durability and fire protection, while allowing moisture vapor to pass through. They do not rot, corrode, or sustain damage from termites and insects.
The global Cement Board Market is estimated to be valued at Us$ 1.86 Bn in 2023 and is expected to exhibit a CAGR Of 24.% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Sustainable construction has been a major trend driving the growth of the cement board market. Cement boards are viewed as a more environmentally-friendly alternative to wood-based siding and provide a comparable aesthetic. They require less maintenance and last significantly longer with a 50-year warranty on most products. This reduces waste and prevents chemicals from being released during repairs and replacement. The boards are made from natural, recycled, and rapidly renewable materials, earning them credits toward green building standards. Increased demand for sustainable and energy efficient buildings will continue propelling the cement board market over the forecast period.
Segment Analysis
The global cement board market is dominated by fiber cement boards segment. Cement bonded wood fiber boards provide durability and moisture resistance which makes them ideal for exterior claddings. They are highly preferred for sidings, roofing tiles and floor underlayments. Moreover, fiber cement boards are durable, water-resistant and can withstand impact and abrasion which has increased its acceptance over other materials.
Key Takeaways
The Global Cement Board Market Demand is expected to witness high growth during the forecast period of 2023 to 2030. Production of fiber cement boards is growing rapidly in Asia Pacific region. Counties like China, India and other Southeast Asian countries are dominating the market due to ease of manufacturing and increased construction activities.
Regional analysis:
Asia Pacific region accounts for over 45% share of the global cement board market and is expected to remain the fastest growing market during the forecast period. Rapid urbanization, infrastructure development projects and increasing disposal income are driving the construction sector growth in Asia Pacific countries. China is the largest producer and consumer of cement boards globally.
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. Veritas Technologies Llc. holds the highest market share of over 18% due to its robust data management software portfolio and global presence.
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