The cement board market has witnessed significant growth over the past few years owing to increasing usage of cement boards in construction applications. Cement boards offer advantages such as moisture resistance, fire protection and durability making them suitable for use in interior and exterior walls, ceilings, floors and countertops. They help minimize call backs and increase job-site efficiency.
The global cement board market is estimated to be valued at US$ 1.20 Bn in 2024 and is expected to exhibit a CAGR of 20% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the cement board market are ID Quantique, QuintessenceLabs,
Toshiba Corporation, NEC Corporation, Qubitekk, MagiQ Technologies, QuantumCTek,
Quantum Xchange, Quantum Communication Technologies AG, Post-Quantum, PQ
Solutions Limited, Qasky, Quantum Machines, Quantum-Secure Communications, Cambridge Quantum Computing.
The Cement Board Market size is driven by rising infrastructure development and construction activities across both developed and developing economies, fueling the demand for cement boards. The market is also witnessing increased globalization with manufacturers expanding their footprint worldwide and focus on strategic collaborations to boost production and supply.
Market key trends
One of the key trends witnessed in the cement board market is the growing popularity of digital manufacturing and 3D printing technologies. Manufacturers are investing in advanced digital technologies to streamline cement board production processes and improve product quality. This is enabling mass-customization of cement boards as per specific project requirements. 3D printing also allows for minimum material wastage during production. Sustainable product innovation with recyclable and bio-based materials is another trend gaining traction in the market.
Porter’s Analysis
Threat of new entrants: Cement board has high capital requirements for setting up a manufacturing plant which deters new companies from entering the market.
Bargaining power of buyers: Buyers have moderate bargaining power as there are several established players in the market offering differentiated products.
Bargaining power of suppliers: Suppliers of raw materials like cement and cellulose fibers have low bargaining power as these materials have many substitutes available.
Threat of new substitutes: Cement Board Market Challenges and Opportunities include the low threat posed by substitutes like drywall panels, as cement board offers superior moisture resistance and fireproof properties.
Competitive rivalry: The market has several global and regional players competing on the basis of product quality and pricing with low product differentiation.
Geographical Regions
North America holds the major share of the global cement board market in terms value owing to high construction spending and infrastructure development projects in the USA and copyright. The market in Asia Pacific region is expected to witness the fastest growth during the forecast period attributed to rapid urbanization, rising disposable income, and growth in residential construction in China, India.
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Vaagisha brings over three years of expertise as a content editor in the market research domain. Originally a creative writer, she discovered her passion for editing, combining her flair for writing with a meticulous eye for detail. Her ability to craft and refine compelling content makes her an invaluable asset in delivering polished and engaging write-ups.
(LinkedIn: https://www.linkedin.com/in/vaagisha-singh-8080b91)
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