Introduction

The market for cement boards has experienced high growth over the last few years, fueled by growing demand for low-maintenance, fire-resistant, and long-lasting building products. Fiber and other cement boards have become an essential component in contemporary construction as a result of their performance over wood and gypsum as building materials.

Market Size: The cement board market size is expected to grow from US$ 23,616.63 million in 2022 to US$ 35,473.56 million by 2028; it is estimated to record a CAGR of 7.0% from 2022 to 2028.

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Key Market Segments

By Product Type

Fiber and Cement Bonded Particle Board

By Application

Roofing

Outside Siding or Facade

By End-Use

Residential and Non-Residential

Growth Strategies

Product Innovation: Creating light and high-performing to address changing customer demands for increased durability, flexibility, and sustainability.

Sustainability Initiatives: The use of recycled material in manufacturing processes and the development of end-of-life options for cement products to minimize environmental footprint.

Regional Expansion: Expansion in Asia-Pacific and Latin America emerging markets, where economic growth, urbanization, and infrastructure development are fueling demand.

Future Trends

Sustainability Focus: Increasing focus on environmentally friendly building materials, with fiber providing low environmental footprints and green building compliance.

Technological Innovation: Use of new manufacturing technologies such as Hatschek, extrusion, and molding to improve quality and efficiency.

Aesthetic Personalization: Use of wood grain textures and pattern in fiber cement cladding to offer aesthetically pleasing alternatives to the conventional materials.

Opportunities

Growth Markets: Urbanization in emerging markets such as India and China offers major opportunities for makers to increase their market share.

Green Building Programs: Increased use of environmentally friendly construction methods creates opportunities for fiber to be incorporated in green buildings and environmentally friendly projects.

Do-It-Yourself Market: Increased do-it-yourself home remodeling trend generates demand for easy-to-use and install products.

Key Players with Recent Developments

James Hardie Industries plc

James Hardie, a worldwide leader in fiber cement building products, has been expanding its presence in the North American market intensively. In early 2025, the firm reaffirmed its full-year earnings outlook even as it faced headwinds in the Australian housing market and possible trade tariffs between Europe and the U.S. One notable trend was the exclusive six-year partnership with David Weekley Homes, making James Hardie's fiber cement products the go-to option for single-family homes in the U.S.

Everest Industries Ltd

Everest Industries, an Indian fiber manufacturer, has been concentrating on increasing its production capacity to cater to the rising demand in the region. In February 2025, the company reported a Rs. 138 crore investment for opening a new fiber facility in Matia, Goalpara, Assam, through its wholly owned subsidiary, Everest Buildpro Private Limited.

Swisspearl Group AG

Swisspearl Group, which is Switzerland-headquartered producer of fiber cement products, has been aggressively building its presence in Europe. In June 2022, it bought Denmark's Cembrit, becoming the second-largest manufacturer of fiber cement in Europe. The acquisition provided Swisspearl with an additional 1,400 staff, making it a company with about 2,600 staff and a broader portfolio of products.

Conclusion

The cement board market is set to continue expansion on the back of advances in material technology, sustainability efforts, and growth in application areas across industries. Companies that emphasize innovation, local growth, and harmonization with green building practices are well placed to take advantage of new opportunities. With the development of the construction industry, will continue to be a pillar in constructing robust, sustainable, and good-looking buildings.