At 6.0% CAGR, the Middle East & Africa Cement Board Market is projected to be worth US$ 3,202.01 million by 2028, says Business Market Insights

According to Business Market Insights research, the Middle East & Africa cement board market was valued at US$ 2,258.20 million in 2022 and is expected to reach US$ 3,202.01 million by 2028, registering a CAGR of 6.0% 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 Middle East & Africa cement board market expansion.        

According to the Energy Sector Management Assistance Program, nearly one-third of energy is consumed in residential, public, and commercial buildings for space cooling, heating, ventilating, cooking, refrigerating, lighting, water heating, and operating electric and mechanical devices. Modernizing cities in developing countries and increasing per capita income propel energy use in buildings. High energy consumption in public, residential, and commercial buildings create a need for energy savings. A layer of cement board is applied to the building to reduce heat transfer through the walls, keeping the interior warmer in winter and cooler in summer, which makes a building energy efficient. According to the ASHRAE Fundamentals Handbook, cement board has an R-value of 0.15, which is better than the value of brick and stone. Many cement board products have a finish that reflects light. This reflection helps the building absorb less heat from the sun and keep the building's interior cooler. It reduces the need for air conditioning, saving energy and lowering energy bills. Fiber cement board is often put on top of a layer of foam insulation, making the building energy efficient. This efficiency can help homeowners reduce their energy consumption and energy bills. With an increasing demand for energy-efficient homes, houses are valued higher when built with sustainable resources. All these factors drive the Middle East & Africa cement board market.

On the contrary, the high cost of installation hampers the Middle East & Africa cement board market.

Based on product type, the Middle East & Africa cement board market is segmented into fiber cement board and cement bonded particle board. The fiber cement board segment held 91.7% share of Middle East & Africa Cement Board Market in 2022, amassing US$ 2,070.13 million. It is projected to garner US$ 2,945.35 million by 2028 to expand at 6.1% CAGR during 2022–2028. 

Based on application, the Middle East & Africa cement board market is segmented into roofing, outside siding or façade, and others. The roofing segment held 42.5% share of Middle East & Africa Cement Board Market in 2022, amassing US$ 958.91 million. It is projected to garner US$ 1,403.18 million by 2028 to expand at 6.6% CAGR during 2022–2028.

Based on end-use, the Middle East & Africa cement board market is segmented into residential and non-residential. The non-residential segment held 67.1% share of Middle East & Africa Cement Board Market in 2022, amassing US$ 1,515.72 million. It is projected to garner US$ 2,128.01 million by 2028 to expand at 5.8% CAGR during 2022–2028.

Based on country, the Middle East & Africa cement board market has been categorized into South Africa, Saudi Arabia, the UAE, Turkey, and the Rest of Middle East & Africa. Our regional analysis states that the Rest of Middle East & Africa captured 32.1% share of Middle East & Africa Cement Board Market in 2022. It was assessed at US$ 724.24 million in 2022 and is likely to hit US$ 977.28 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.      

Key players operating in the Middle East & Africa cement board market are Compagnie de Saint Gobain SA; Etex NV; SCG Building Materials Co., Ltd.; Swisspearl Group AG; and Visaka Industries Ltd, among others.

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