Market Dynamics:
The global cement board market is primarily driven by increasing construction activities especially in developing economies of Asia Pacific and Latin America. The easy availability of labor and growing population is compelling governments to invest significantly in infrastructure development which is fueling the demand for cement boards in these regions. According to the Global Construction 2030 report, the global construction output is projected to grow by 85% to US$ 15.5 trillion by 2030. Another driver supporting the market growth is increasing adoption of cement board as an alternative to gypsum boards due to its better moisture and mold resistance properties. The rapid urbanization and rising disposable income is triggering home remodeling and renovation activities in developed regions like North America and Europe thereby augmenting the product demand.
Key Takeaways
The Global Cement Board Market Size is expected to witness high growth over the forecast period supported by robust construction industry expansion worldwide. The Asia Pacific region dominates the market currently owing to the ongoing infrastructure development projects in China, India along with residential construction boom in other Southeast Asian countries. The key players operating in the region are well-established with large production capacities and supply networks to service the huge local demand.
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