Backer Board Market to Surpass at a Valuation of US$ 3,803.85 Million By 2031
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/backer-board-market
The rise in construction activities, the rising need for water-resistant building materials, and the trend of DIY (Do It Yourself) home modifications have all contributed to the steady growth of the global backer board market in recent years. This increased trend has also been made possible by the growing significance of backer boards in tile installations because of their moisture resistance and heat insulation capabilities.
The rising construction investment, particularly in new homes, will increase demand for backer boards. From 2020 to 2030, the worldwide construction market is likely to expand by US$ 4.5 trillion, reaching US$ 15.2 trillion, with US$ 8.9 trillion in emerging markets. Sub-Saharan Africa is predicted to experience a major regional construction increase, followed by rising Asia. In 2021, residential buildings increased at the quickest rate of 7.1%. Another factor projected to propel the market is the rapid rise of the housing sector. For instance, India's housing sector will maintain its speed, with sales increasing by 9% annually in the current fiscal year 2023–24.
Rising DIY home improvement and aesthetic improvement trends are projected to open up significant growth potential for the global market. Materials are essential to a building's aesthetics. The materials used can have a significant impact on a structure's overall appearance, feel, durability, and sustainability. Backer boards are a common option among DIY enthusiasts for home repair projects since they are reasonably simple to handle and install. For instance, Gen Xers were the group most inclined to try DIY, accounting for 52% of Americans who completed home renovation tasks in the preceding year.
End-User Majorly Prefer Fiber-Reinforced Gypsum Board Due to Its Exceptional Properties, Generated US$ 615.7 Million Revenue
Fiber-Reinforced Gypsum Board is a type of backer board that has demonstrated strong performance and attained revenue of more than US$ 615.7 million in 2022. Its outstanding qualities, such as fire resistance, sound insulation, and durability, which make it ideally suited for several construction applications, are responsible for its strong position.
This segment's market demand is anticipated to increase during the forecast period at a remarkable CAGR of 11.8%. Fiber-Reinforced Gypsum Boards might potentially earn a greater market share due to the increased awareness of their advantages in various DIY and building projects, as seen by their faster growth rate than the entire market.
Backer Board Major Application is in Interior Settings
The use of backer boards in interior settings will continue to dominate the global backer board market in 2022, capturing more than US$ 1,412.0 million. Backer boards are widely utilized in internal construction operations, including wall installations, flooring, and as foundations for tiling in spaces like kitchens and bathrooms, which accounts for their sizeable market share. Particularly suited for these tasks are their qualities, including moisture resistance, durability, and ease of installation.
Asia Pacific to Generate Highest Revenue in the Global Backer Board Market
In 2022, the Asia Pacific region held the position of being the largest regional market. The regional administrations are working to build infrastructure by creating hospitals, educational centers, commercial centers, and housing complexes. These elements and the region's growing population are anticipated to increase demand for the product.
With a target rate of 70% by 2030, China is encouraging and undertaking a continuous urbanization process. The country's housing market may rise due to the increased living spaces needed in urban areas owing to urbanization and middle-class urban dwellers' desire to improve their living conditions. This will likely lead to an increase in residential construction, which, in turn, is anticipated to have a positive impact on the global backer board market.
The Indian government is promoting massive projects throughout the coming years. In 2022, more than 20 million affordable dwellings for the urban poor were built as part of the government's Housing for All initiative. Residential construction will experience a large increase as a result, contributing more than a third of the industry's overall value by 2023.
The Ministry of Statistics and Programme Implementation estimates that the construction sector would expand by 10.7% in FY22, up from a contraction of 8.6% the previous year, thanks to the base effect and the economic expansion. As a result, this aspect will accelerate the expansion of the regional backer board market.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/backer-board-market
Companies Profile
The cement board market has some degree of fragmentation. However, a sizable portion of the global business is controlled by the top four to five players. James Hardie Industries PLC, Etex Group, Saint-Gobain, Johns Manville, and NICHIHA Co. Ltd are a few of the leading market participants.
List of Prominent Players
• James Hardie Industries plc
• USG Corporation
• CertainTeed Corporation
• Georgia-Pacific LLC
• Cembrit Holding A/S
• National Gypsum Company
• SCG Building Materials
• Knauf Gips KG
• Etex Group
• Saint-Gobain S.A.
• Other Prominent Players
Segmentation Outline
The global backer board market segmentation focuses on Product Type, Application, and Region.
By Product Type
• Concrete Backer Board
• Cementitious Board
• Coated Glass Mat Board
• Fiber cement Backer Board
• Fiber-Reinforced Gypsum Board
• Others
By Application
• Interior Application
• Exterior Application
By Region
• North America
o The U.S.
o Canada
o Mexico
• Europe
• Western Europe
The UK
Germany
France
Italy
Spain
• Rest of Western Europe
Eastern Europe
Poland
Russia
• Rest of Eastern Europe
Asia Pacific
• China
• India
• Japan
• South Korea
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
South America
• Argentina
• Brazil
• Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/backer-board-market
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