Tile Backer Board Market is Anticipated to Witness High Growth Owing to Increasing Construction Activities

 

Tile Backer Board Market Demand

The global tile backer board market is widely used in wet areas and as a substrate for tile or natural stone installations in various residential and commercial construction projects. Tile backer boards provide an even, flat, and dimensionally stable surface that resists warping, buckling and cracking, making it an ideal substrate for tile and natural stone installations in walls, flooring and countertops. The boards protect wall studs and floor joists from moisture damage that can occur through cracks in tile and help distribute the weight of heavy tile and stone over a larger area. The boards are moisture, mold and impact resistant and require minimal maintenance over the life of the structure.

The Global tile backer board market is estimated to be valued at US$ 3.16 Bn in 2024 and is expected to exhibit a CAGR of 4.1% over the forecast period 2024 to 2031.

Increasing construction of residential & commercial buildings along with infrastructure development projects across the globe is anticipated to fuel the demand for tile backer boards.

Key Takeaways

Key players operating in the tile backer board market are Georgia-Pacific Wood Products LLC, PCS Board, James Hardie Building Products Inc., wedi GmbH, USG Corporation, Johns Manville, National Gypsum, Cembrit Holding A/S, CertainTeed, Schluter Systems, Tortuga, Ramco Hicem, VipaBoard, Hangzhou Tyco Industrial Co., Ltd., and ZMARTBUILD.

Key opportunities in the Tile Backer Board Market Demand include rising spending on home improvement projects as well as commercial construction activities in developing countries of Asia Pacific and Latin America. Major players are focusing on expanding their geographical footprint in high growth emerging economies through partnerships with local distributors.

Global expansion remains a key strategy for market leaders to leverage opportunities in developing markets and gain access to new customers. Leading companies have made strategic acquisitions and increased investments in capacity expansion across regions such as North America, Europe, China, India and Middle East & Africa.

Market Drivers:

- Rapid urbanization and growth of the housing sector have fueled the demand for tile applications in residential construction. This is expected to be a major demand driver for tile backer boards over the forecast period.

- Large infrastructure projects for development of roads, highways, metros, airports and commercial buildings are boosting the use of tile and stone works. This is anticipated to drive the consumption of tile backer boards.

Market Restrains:

- Volatility in raw material prices impact the overall production cost of tile backer boards. Fluctuations in prices of wood, paper, fiber and cement can hamper market profitability.

- Higher manufacturing costs compared to conventional substrates limit the use of backer boards in cost-sensitive residential projects especially in developing countries.

Segment Analysis

The tile backer board market can be segmented into cement-based tile backer board and fiberglass-reinforced tile backer board. The cement-based tile backer board segment dominates the market as it provides greater rigidity, moisture resistance, and durability compared to fiberglass-reinforced tile backer board. This makes cement-based tile backer board suitable for use in wet areas and high humidity areas of residential and commercial spaces.

Global Analysis

Regionally, North America holds the major share of the global tile backer board market. Increased construction of residential and commercial buildings in the region is driving the consumption of tile backer boards. The United States accounts for the largest share of the North American market. Europe is another dominating regional market for tile backer boards. Rapid infrastructure development and renovation activities across countries like the UK, Germany, and France are contributing to the growth of the European tile backer board market. The Asia Pacific region is anticipated to witness the fastest growth during the forecast period due to strong economic growth and increasing investments in construction industry in countries like China and India.

Get More Insights On- Tile Backer Board Market

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