At 6.9% CAGR, the Asia Pacific Cement Board Market is projected to be worth US$ 11,785.85 million by 2028, says Business Market Insights

According to Business Market Insights research, the Asia Pacific cement board market was valued at US$ 7,917.14 million in 2022 and is expected to reach US$ 11,785.85 million by 2028, registering a CAGR of 6.9% from 2022 to 2028. Rising adoption of cement board in construction sector and upsurge in demand for energy-efficient buildings are the critical factors attributed to the Asia Pacific cement board market expansion.        

The building construction industry is increasingly focusing on encouraging developments of sustainable construction for a healthy and environmentally friendly living. Regular cement requires different raw materials, including water, during production, while cement board relies on recycled materials and consumes fewer resources. With water crises in certain areas, using materials that reduce water usage is necessary. Further, cement board products are not made of natural materials but have several advantages over renewable resources like wood. Rapid deforestation is a major environmental concern, so wood construction materials can fuel unsustainable forestry practices. As cement board siding lasts longer, they are preferable to wood siding and others that need to be replaced often. The higher replacement of siding results in high waste accumulation in local landfills. Cement board products do not use fossil fuels to produce vinyl construction material. Thus, due to an increasing preference for sustainability and a focus on eco-friendly building materials, there will be an increase in the development of eco-friendly cement board in the coming years.

On the contrary, the high cost of installation hampers the Asia Pacific cement board market.

Based on product type, the Asia Pacific cement board market is segmented into fiber cement board and cement bonded particle board. The fiber cement board segment held 93.2% share of Asia Pacific Cement Board Market in 2022, amassing US$ 7,376.77 million. It is projected to garner US$ 11,004.77 million by 2028 to expand at 6.9% CAGR during 2022–2028. 

Based on application, the Asia Pacific cement board market is segmented into roofing, outside siding or façade, and others. The roofing segment held 45.3% share of Asia Pacific Cement Board Market in 2022, amassing US$ 3,584.05 million. It is projected to garner US$ 5,537.79 million by 2028 to expand at 7.5% CAGR during 2022–2028.

Based on end-use, the Asia Pacific cement board market is segmented into residential and non-residential. The residential segment held 54.3% share of Asia Pacific Cement Board Market in 2022, amassing US$ 4,300.02 million. It is projected to garner US$ 6,609.87 million by 2028 to expand at 7.4% CAGR during 2022–2028.

Based on country, the Asia Pacific cement board market has been categorized into Australia, China, India, Japan, South Korea, Indonesia, and the Rest of Asia Pacific. Our regional analysis states that the China captured 39.8% share of Asia Pacific Cement Board Market in 2022. It was assessed at US$ 3,154.94 million in 2022 and is likely to hit US$ 4,846.52 million by 2028, exhibiting a CAGR of 7.4% during the forecast period.      

Key players dominating the Asia Pacific cement board market are Compagnie de Saint Gobain SA; Etex NV; Everest Industries Ltd; James Hardie Industries plc; Nichiha Corp; SCG Building Materials Co., Ltd.; Soben International Ltd; Swisspearl Group AG; and Visaka Industries Ltd, among others.

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