by The tile backer board market has witnessed significant growth over the past few years owing to wide usage of these boards in residential and commercial construction, and renovation activities involving wall and floor tiling. Tile backer boards provide solid and durable substrate surface for installation of ceramic tiles or natural stones on walls and floors. They are moisture, mold and mildew resistant and can withstand normal variations in indoor temperature and humidity levels.
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 dominate the market and are focusing on expanding their product portfolios and geographic presence through mergers and acquisitions.
The key opportunities in Tile Backer Board Market Demand include rising demand for Do-It-Yourself (DIY) home improvement projects and increasing construction of commercial buildings. Moreover, technological advancements such as development of light-weight, moisture resistant tile backer boards made from fiberglass, cement and other materials are expected to drive the market growth during the forecast period.
Wide adoption of wireless laying technology in tiles installation and development of digital tile layout software are the key technological advancements in the tile backer board market. These advancements have simplified tile installation process and improved aesthetic outcomes of tiling projects.
Market Drivers
The major driver for the tile backer board market is robust growth of the global construction industry. According to published sources, the global construction market is estimated to grow at over 4% annually until 2031. Growing residential and commercial construction across both developed and emerging economies is expected to propel the demand for tile backer boards. Secondly, rising home renovation and remodeling expenditures also contributes significantly to the market growth. Homeowners increasingly invest in bathroom and kitchen renovations involving replacement of floor and wall tiles. Thirdly, superior moisture resistance and durability properties of tile backer boards compared to traditional drywall or plaster substrates drives their increasing preference in construction and renovation projects.
Current Challenges in Tile Backer Board Market
Over the years, the tile backer board market has witnessed significant growth. However, there are certain challenges that the industry is facing currently. One of the major challenges is the availability of substitute products like concrete board and fiber cement board. These products offer similar performance as tile backer boards but are more economical. Furthermore, fluctuations in the prices of raw materials used for manufacturing tile backer boards is also affecting the industry. Raw materials like cement, gypsum, and fiberglass undergo volatile price changes due to various factors including supply dynamics and international trade policies. This leads to unjustifiable price rises of tile backer boards in the market. Additionally, growing environmental regulations around the world to curb greenhouse gas emissions from the construction industry pose a challenge for tile backer boards manufacturers. Stricter rules related to material processing and transportation may negatively impact the operations and costs of players in this industry.
SWOT Analysis
Strength: Tile backer boards offer high compressive strength and impact resistance making them an ideal substrate for wall tiles. They are lighter in weight than concrete boards reducing installation costs.
Weakness: Higher pricing of tile backer boards compared to substitute products is a major weakness. Dependence on raw material price volatility also affects the industry.
Opportunity: Growing construction activities especially in emerging economies of Asia Pacific and Latin America presents an opportunity for market expansion. Renovation and remodeling projects in developed nations also provide promising opportunities.
Threats: stringent environmental regulations can increase compliance costs for manufacturers. Easy availability of economical substitutes is also a major threat.
Geographical Regions
In terms of value, North America currently dominates the global tile backer board market holding over 30% share. The growth in the region is majorly driven by the booming residential construction sector in the US and rising remodeling and renovation activities. Asia Pacific is another key geographical region for tile backer boards. Rapid urbanization and growing housing construction in developing countries like China, India are fueling the demand in the region. The availability of affordable labor and raw materials also makes Asia Pacific an attractive production base for tile backer board suppliers.
Fastest Growing Region
Latin America is expected to be the fastest growing region for tile backer boards over the forecast period till 2031. The construction industry in Brazil and Mexico is rapidly expanding supported by favorable government policies to develop infrastructure and boost real estate. Growing emphasis on interior design and rising consumer spending on home improvement in the region will majorly drive the consumption of tile backer boards. Additionally, strategic price positioning by manufacturers targeting the cost-sensitive Latin American construction market will further support the regional market growth.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
