Dublin, Aug. 30, 2024 (GLOBE NEWSWIRE) -- The "Global Cement Board Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The global cement board market is anticipated to grow at a CAGR of 5.21% during the forecast period 2024-2029.
Rising construction activity significantly impacts the cement board market, pushing demand for durable and moisture-resistant building materials. As urbanization accelerates worldwide, particularly in emerging economies, there is a greater demand for structures that resist various climatic conditions. As the population rises globally and urban development sprouts, construction activities are also likely to rise in frequency leading to cement board utilization.
In line with this, as of January 1, 2024, according to the US Census Bureau, the United States of America population was calculated to be 33,58,93,238. This is up 17,59,535 or 0.53% since January 1, 2023, and up 44,43,957, or 1.34% from Census Day of April 1, 2020. On the 1st of January 2024, the world population was approximately 80,19,87,689.
Cement boards, known for their strength, moisture resistance, and appropriateness for humid environments like bathrooms and kitchens, have become vital. Furthermore, severe building norms and regulations emphasizing safety and sustainability encourage the use of cement boards in new construction and restoration projects. Construction is a major input in the United States economy. The construction industry establishments in the United States in the first quarter of 2023 were approximately 919,000. The sector constructs approximately $2.1 trillion in structures each year.
Besides this, infrastructure assistance in India remains the policy's primary concern as it increases product and export movement and consequently alters the delivery of goods. These measures have benefited the Smart Cities Mission as well as the Housing for All movements. Saudi Arabia has investment plans to invest up to 100 billion US Dollars in India in the fields of infrastructure and others. This increment in construction broadens the market nearness of cement boards and increases the ardent development in the future. The following prospects are substantiated by the significance of these solutions for increasing building durability and decreasing maintenance expenses during the entire lifecycle of buildings.
By product type, fiber cement board is one of the most rapidly developing segments.
Fiber cement boards are products, which are manufactured from fiber reinforcement, cement, sand, and silica. These are non-flammable hence can be used for a variety of purposes. Some of these materials come in the form of thickness and size that can be cut, molded, and placed in a way done to normal timber. They are very resistant to fire, water, moisture, and heat.
Fiber cement boards are extremely robust, lasting up to 50 years with proper maintenance and installation. They are resistant to rotting and vermin because of the cement used in fiber cement boards. They also remove the presence of mold and germs. Fiber cement boards are also extremely fire resistant, making them suitable for indoor and outdoor use.
One such example is the Gyproc Fiber Cement Board. This board has a cementitious core reinforced with cellulose fibers. It is 100% asbestos-free. Furthermore, Birla Aerocon Fibre Cement Boards result from breakthrough innovation through substantial R&D efforts and cutting-edge technology. They are an excellent alternative to wood, providing higher durability and adaptability while boasting superior characteristics.
Asia Pacific's cement board market is anticipated to grow significantly.
Several major factors drive the Asia Pacific cement board market's growth and advancement. Rapid urbanization and industrialization in countries such as China, India, and Southeast Asian nations are driving up building activity, notably in the residential and commercial sectors. As infrastructure development, urban housing projects, and renovations increase in these locations, so does the demand for durable and moisture-resistant construction materials such as cement boards. Stringent building norms and regulations promoting safety and sustainability encourage the use of cement boards in construction projects.
Additionally, India is a leading market in the housing business sector. Among the rapidly increasing sectors, this sector is backed by an enormous population base, growing income levels, and expanding urbanization. The Indian Constitution delegated responsibility for housing and urban development to the State Governments in the country's federal structure. Between April 2000 and December 2023, FDI in the construction development (townships, housing, built-up infrastructure, and construction development projects) and construction (infrastructure) activity sectors totaled USD 26.54 billion and USD 33.52 billion, respectively.
Nonetheless, China's 14th Five-Year Plan focuses on new infrastructure projects in transportation, energy, water systems, and urbanization. According to projections, the total investment in new infrastructure during the 14th Five-Year Plan period (2021-2025) will be over 27 trillion yuan (USD 4.2 trillion).
Moreover, technological innovation and changes in the material used as an industry's response to new developments and increasingly stringent sustainability standards are influencing the market and driving innovation in cement boards in Asia Pacific's broad range of industries. For example, the telecommunications company in India BALCO, which belongs to Vedanta Aluminium and is one of India's famous aluminum manufacturers, signed the MoU agreement with Shree Cement Limited in May of the year 2024. It is convenient for the parties involved to transport the fly ash from BALCO to Shree Cement Limited for use in or evidenced by the manufacturing of inexpensive low-carbon cement. The arrangement entails delivering 90,000 metric tonnes of fly ash, permitting a substantial partnership for the sustainable use of fly ash in the cement sector, hence increasing circular economy opportunities.
Global Cement Board Market Key Developments:
- In February 2024, Nuvoco Vistas Corp. Ltd., India's fifth-largest cement firm, expanded its operating footprint by opening its second cutting-edge Ready-mix Concrete Plant (RMX), Patna-II. Ideally located near Ranipur Milki Chak on the Begampur bypass, this factory demonstrates Nuvoco's ongoing commitment to delivering high-quality building materials to the Patna region.
- In December 2023, Etex, a worldwide building material producer and pioneer in lightweight construction, acquired SCALAMID, a maker of fiber cement panels with cutting-edge digital printing and coating technology, as a key step towards enhancing architectural design. This strategic decision opens new client design possibilities and demonstrates Etex's commitment to driving innovation in the lightweight building sector.
Key Topics Covered:
1. INTRODUCTION
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- Market Drivers
- Growth in Construction Activities
- Advancement in Technology
- Market Restraints
- High Initial Cost
- Heavy Weight of Cement Boards
- Porter's Five Forces Analysis
- Industry Value Chain Analysis
5. GLOBAL CEMENT BOARD MARKET BY PRODUCT TYPE
- Fiber Cement Board (FCB)
- Wood Wool Cement Board (WWCB)
- Wood Strand Cement Board (WSCB)
- Cement Bonded Particle Board (CBPB)
6. GLOBAL CEMENT BOARD MARKET BY END-USER INDUSTRY
- Residential
- Commercial
- Industrial and Institutional
7. GLOBAL CEMENT BOARD MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
- Major Players and Strategy Analysis
- Market Share Analysis
- Mergers, Acquisitions, Agreements, and Collaborations
- Competitive Dashboard
9. COMPANY PROFILES
- Etex Group
- Johns Manville
- Everest Industries
- Elementia Materials
- James Hardie
- Knauf Group
- Gyproc
- Beton Wood
- HIL Limited
- GAF
For more information about this report visit https://www.researchandmarkets.com/r/qkqd6m
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