Global Fiber Cement Boards Market Size is Expected to Grow to 29.18 Billion by 2028

Global Fiber Cement Boards Market Overview

According to Global Market Monitor, the global fiber cement board market size was $20.33 billion in 2023 and is expected to grow to 29.18 billion by 2028.

A fiber cement board is a combination of cement and reinforcing fibers that are typically used as a tile backing board. Cement boards can be nailed or screwed to wood or steel studs to create a substrate for vertical tile and attached horizontally to plywood for tile floors, kitchen counters, and backsplashes. It can be used on the exterior of buildings as a base for exterior plaster (stucco) systems and sometimes as the finish system itself. Cement board adds impact resistance and strength to the wall surface as compared to water-resistant gypsum boards.

Global Fiber Cement Boards Market Status

The ever-increasing global population and purchasing power are driving rapid urbanization, requiring a better infrastructure both at the residential and commercial levels. Fiber cement boards, which are made of mixtures of cement, water, and either reinforcing fibers or particles, provide durable structural stability to any building & construction project. These materials are resistant to impact, fire, moisture, insects, and fungi, easy to handle and install. These factors facilitate their usage in floors & roofs, ceilings, exterior & partition walls, facades, claddings, prefabricated houses, fire-resistant furniture, etc. Construction holds the largest end-use application segment.

Fiber cement boards post solid demand growth and the US accounted for nearly one-third of the global market. It has become increasingly popular in the US as it can withstand harsh climates without rotting and is impervious to insects.Roofing comprised the largest market share and Brazil and India are the largest markets for fiber cement roofing products. Lower-cost products (using asbestos as the fiber) are popular in these countries.

North America	The world's largest fiber cement board revenue market and the US accounted for most of the market share.
Asia Pacific	Investment in residential and commercial buildings is currently high in the Asia-Pacific region, particularly in China, Japan, Taiwan, and South Korea, as well as in developing economies such as India, Malaysia, Indonesia, and Vietnam. Compared to the global market, a significant portion of the market's revenue comes from China (33.12% in 2022).
Europe	In 2023, the market size of the fiber cement board industry was $4.61 billion.

For more industry information, please refer to our latest released "2023 Global Fiber Cement Boards Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".