Tile Backer Board Market: Tile Backer Boards will grow at highest pace owing to Increasing Infrastructural Projects


Posted June 4, 2024 by vaishnavicmi

Additionally, implementation of favorable government policies and initiatives to develop smart cities supplement the market growth. Rapid industrialization and expansion
 
Tile backer boards are a type of construction board that provides a stable base for installing tile on walls and floors. Made from durable materials like cement, fiberglass, gypsum, cork and composite boards; tile backer boards are moisture, mold and water resistant. Their structural stability and moisture resistance makes them a preferred substrate for installing tile in wet areas like kitchens, bathrooms and around pools.

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.

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. The key players are focusing on expanding their production facilities and product portfolio to cater to the growing demand.

The Tile Backer Board Market Demand boards is increasing across residential and commercial constructions for use in bathrooms, kitchens and pool areas. The rising residential and commercial construction activities are expected to drive the growth of the global tile backer board market during the forecast period.

Technological advancements including the development of waterproof, mold resistant and lightweight composite backer boards are further expanding the application scope of tile backer boards. Innovations in material composition are introducing newer varieties of tile backer boards to suit diverse project requirements.

Market Trends

One of the key trends gaining momentum in the market is the increasing preference for moisture resistant cement backer boards for wet area applications. Cement backer boards are durable and impervious to moisture which reduces the chances of tile delamination. Composite backer boards combining the benefits of different materials is another trend gaining traction in the market.

Market Opportunities

Growing infrastructure development projects in developing nations presents lucrative opportunities for tile backer board manufacturers. Increasing construction of hospitals, schools, malls and other commercial complexes will boost the consumption of tile backer boards. Rising renovations and remodeling activities of residential and commercial buildings also provides opportunities for market players to tap new demand.

Impact of COVID-19 on Tile Backer Board Market growth

The COVID-19 pandemic has adversely impacted the global tile backer board market growth. During the pandemic, the construction activities were halted which led to decline in demand for tile backer boards globally. Lockdowns and supply chain disruptions hampered the manufacturing and distribution of tile backer boards. The declined construction spending and economic uncertainty also impacted the market growth negatively. However, with lifting of lockdowns and resumption of construction projects post pandemic, the demand is expected to bounce back. The manufacturers are focusing on leveraging digital technologies and adopting new strategies to enhance production capabilities and fulfil demand. The industry players are also emphasizing on product innovations and development of sustainable tile backer boards to gain foothold in the recovering market.

Tile Backer Board Market in North America

North America accounted for the largest share of the global tile backer board market in terms of value in 2024. The presence of established construction industry and changing consumer preference towards renovation and remodeling activities augmented the demand for tile backer boards in the region. United States represented major market share owing to high volume consumption and widespread construction facilities across residential and commercial segments. Moreover, focus on advanced building material technologies and surge in green building projects further propelled the regional market growth.

Tile Backer Board Market growth in Asia Pacific

Asia Pacific tile backer board market is poised to expand at fastest pace during the forecast period. Rising urbanization, growing middle class population, and increasing infrastructural investments across developing nations such as China, India and Indonesia are some of the key factors driving the regional market. Additionally, implementation of favorable government policies and initiatives to develop smart cities supplement the market growth. Rapid industrialization and expansion of construction industry have augmented the product consumption across commercial spaces including hotels, malls and office buildings. Penetration of waterproof and moisture resistant tile backer boards is anticipated to uplift the Asia Pacific market over coming years.

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Issued By Coherent Market Insights
Country India
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Tags construction , infrastructure , tile backer board , tile backer board market , tile backer board market size , tile backer board market demand , tile backer board market growth
Last Updated June 4, 2024