Cement Board Market Analysis & Forecast: 2025-2032

Cement Board Market is estimated to be valued at USD 2.07 Bn in 2025 and is expected to reach USD 2.99 Bn in 2032, exhibiting a compound annual growth rate (CAGR) of 5.4% from 2025 to 2032. Increasing investment in construction sector is expected to drive the cement board market growth. According to the US Census Bureau, in November 2021, the construction spending in the U.S. was estimated at a seasonally adjusted annual rate of US$ 1,625.9 billion, 0.4% more than the revised October estimate of US$ 1,618.8 billion. Additionally, the November 2021 estimation was 9.3% more than the November 2020 estimate of US$ 1,487.2 billion. Moreover, from January to November 2021, construction spending amounted to US$ 1,463.2 billion, 7.9% above US$ 1,355.6 billion for the same period in 2020. Additionally, rise in single-family homes in developed countries is again fostering market growth.

Global Cement Board Market- Drivers

• Growing residential sector: Growing residential sector across the globe is expected to drive the global cement board market growth. Cement board is majorly used in both external and internal applications. These are used in internal claddings that include windowsills, partition walls, ceilings and floors, and tile backer boards. For instance as per the report by the US Census Bureau. In the United States, privately-owned residential properties are gaining popularity, in 2020, 1,471 new housing units were permitted, and the number grew to 1,729 in 2021.
• Increasing single-family homes in North America and Europe: Increasing number of single-family homes in North America and Europe is another key factor propelling the market growth. According to the U.S. Census Bureau, in the U.S., privately-owned residential properties are gaining popularity. In 2020, 1,471 new housing units were permitted in the U.S, and the number grew to 1,729 in 2021.

Global Cement Board Market- Opportunities

• Increasing utilization of cement board in wall in business and private spaces: Growing usage of cement board in wall partition in commercial and residential spaces is expected to offer lucrative growth opportunities over the forecast period. These are the best way to partition a space for applications such as making pantries, cubicles, or meeting rooms. Wall partition by using cement board is a highly flexible solution. Also, this solution provides same strength, as that of conventional wall. Moreover, these can be put in place easily.

• Rising applications for concrete sheets: Furniture, permanent shuttering, prefabricated houses, ceilings and architraves, and fire-resistant construction and others are the other emerging applications for cement boards. This is again anticipated to offer significant growth opportunities in the near future. Cement board is an emerging solution, and are gaining acceptance in above mentioned applications.

Global Cement Board Market- Trends

• Developing ubiquity of acoustic and warm protection in homes: Growing popularity of acoustic and thermal insulation in homes is expected to drive the market growth over the forecast period. Cement boards are highly dense, and this makes them suitable for insulating airborne and impact noises. As cement boards are heavy, these make it difficult for sound to move through them. Moreover, the cement board also exhibit more mass than gypsum which makes difficult for sound waves to bounce against it. For this reason, cement boards are excellent for soundproofing. Prefabricated buildings construction is gaining popularity as it is a lean approach for fast, quality delivery with reduced wastage. Prefabrication reduces the time needed for constructing buildings, as the setup is quite easy. This is expected to drivethe market growth over the forecast period.

Global Cement Board Market- Restraints

• Environmental concerns: Environmental concerns related to the manufacturing of fiber cement boards is a prime factor that is expected to hinder the market growth. Counterbalance: The process used to make fiber cement is eco-friendly. When fiber making cement is made, the water used during its manufacturing process is recycled many times. The solid wastes are also recycled along with the water for fiber cement boards.
• High cost of installation: High cost of installation and maintenance is another key factor that is expected to hamper the market growth over the forecast period. Counterbalance: Before the process of installation of cement boards, it is necessary to make proper arrangements of the installation techniques, to avoid any costly errors. At first, the work area needs to be prepared, cutting of the cement boards properly, laying off and securing the cement boards, application of the optional waterproof membrane and so on, in order to avoid any unforeseen mistake of installations.

Global Cement Board Market- Segmentation

Figure 1. Global Cement Board Market, By End-User,  2025

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• Based on end-user, the market is segmented into residential, commercial, and industrial and institutional. Out of which, residential segment  is expected to dominate the global market over the forecast period due to increasing demand for cement board from roofing to furniture application. Rising residential sector is another key factor driving segment growth.
• Commercial segment is also expected to witness significant growth in the near future, owing to growing demand for office spaces across emerging countries such as India and China. Rising technology, e-commerce companies, and banking-financial services requires  the office space, and this leads to construction of new offices.

Figure 2. Global Cement Board Market. By Product Type, 2025

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• Based on product type, the market is segmented into Fiber Cement Board (FCB), Wood Wool Cement Board (WWCB), Wood Strand Cement Board (WSCB), and Cement Bonded Particle Board (CBPB). Out of which, Wood Wool Cement Board (WWCB) is expected to dominate the global cement board market over the forecast period due to its versatility in various application and its durability in different climatic condition. Moreover, WWCBs are not vulnerable to attack by termites or vermin. Also, these are not subjected to any biological decay. Furthermore, these are classified under both standard B-s1,d0 class, as well as the higher A2-s1,d0 class (non-combustible), as per EN 13168 and EN  13964 (acoustic ceiling panels).
• Wood Strand Cement Board (WSCB) segment is also expected to witness significant growth in the near future due to its excellent durability, resistance to fire, structural strength, and high resistance to rot properties. Moreover, these are not subjected to fungal decay, and attack by termites and other vermin. Furthermore, these exhibit excellent screw-holding capacity, are easy to use, and also can be easily painted.

Figure no 3. Global Cement Board Market, By Application, 2025

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• Based on application, the market is segmented into flooring, exterior and partition walls, roofing, columns and beams, facades, weatherboard, and cladding, acoustic and thermal insulation, and other applications. Out of which, flooring segment is expected to dominate the global cement board market over the forecast period due to its versatility property. Fiber cement boards are the ideal substitute for wood, as these offer a greater level of versatility and durability, with superior features for flooring applications. Moreover, these also available in various sizes to offer more flexibility to the design capabilities.
• Roofing segment is also expected to witness significant growth in the near future because roof is an important element of a house, and is projected to last for decades. Moreover, a roof is also the first thing people notice from afar. Hence, these should to be aesthetically pleasing. All these factors are contributing to the segment growth.

Figure no 4. Global Cement Board Market, By Region, 2025

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• Based on region, the global cement board market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East &Africa. North America is expected to dominate the global cement board market over the forecast period and this is attributed to the rapid growth in residential sector in the region. According to the U.S. Census Bureau, the annual value of residential construction in the U.S. was valued at US$ 6, 38,088 million in 2020, registering a growth rate of about 13% compared to US$ 5,53,442 million in 2019. Moreover, the annual value of non-residential construction in the country was valued at US$ 8,31,065 million in 2020, compared to US$ 8, 37,597 million in 2019.
• Asia Pacific is also estimated to witness fastest growth over the forecast period due to growing construction sector in developing countries, such as China and India. According to the Coherent Market Insights analysis, in the Asia Pacific region, China is the largest economy in terms of GDP. The country witnessed about 6.1% growth in its GDP during 2019, even after the disturbance caused due to its trade war with the U.S. Moreover, the Indian government’s ‘Housing for All by 2022’ is likely to support the construction industry's growth. This initiative aims to build more than 20 million affordable homes for the urban poor by the end of 2022. This will favor the regional market growth over the forecast period.

Global Cement Board Market: Key Developments

• In October 2020, Knauf Group a multinational, family-owned company based in Iphofen, Germany, well known for drywall gypsum boards, acquired USG Boral in Australia and Asia Pacific. The acquisition includes gypsum wallboard-based businesses in Australia, New Zealand, Asia, and the Middle East. USG Boral is well-established leading manufacturer and supplier of advanced building materials in India, Malaysia, the Philippines, and Singapore, and this acquisition will create the world’s largest gypsum company.
• In July 2025, Johns Manville machine operator Ersal Yüksel devised an innovative solution after noticing that the dryers on the glass nonwoven machines continued to operate even during brief halts. Yüksel proposed switching the energy-intensive circulating air fans of the dryers to standby mode in such instances.
• In January 2021, Sahyadri Industries a well-known group in Building Material Industry based at Pune, launched Ecopro-S3 multi-use fiber cement in the Kerala market.  Since the production facility at Perundurai in Coimbatore has a capacity of roughly 13,000 tonnes, the company plans to increase the new product's production there. Also Shyadri Industries has an existing manufacturing facility in Vijayawada.   
• In June 2020, Cembrit a distributor and manufacturer of fibre-cement products in Europe, announced the launch of Patina Rough, a distinctive through-colored cladding board with a sandblasted texture that provides 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.

Global Cement Board Market: Key Companies Insights

The global cement board market is highly competitive. This is attributed to continuous launch of new technologies due to ongoing R &D and efforts by value chain participants. Moreover, key players are adopting various business growth strategies in order to expand their presence on regional as well as global basis. Some of the key players in the global cement board market are Etex Group, Elementia Materials, Everest Industries Limited, James Hardie Industries PLC, Johns Manville, Knauf Gips KG, Saint-Gobain, BetonWood Srl, Cembrit Holding A/S, HIL Limited, GAF, and NICHIHA Co. Ltd

*Definition: Cement boards are widely used in the residential sector for both external and internal applications. In internal cladding, these are used for windowsills, partition walls, ceilings and floors, and tile backer boards. In external claddings, they are used in flat sheets as a base, flat sheets for wall copings, windshields, corrugated sheets, soffits, slates, and planks. Additionally, they are also used in roofing.