This is much like staff.[1] Staff is a kind of cheap artificial stone, made from gypsum, cement, dextrin, and glycerin, with some long plant fibers for tensile strength. It was
used for temporary exhibition buildings for various fairs a century ago.
The Palace of Fine Arts colonnade in San Francisco, built for a 1915 fair, was originally made from staff. By the 1960s, it was a ruin. The current version is a full rebuild from 1974 in more durable materials.
There are more promising bio-materials for construction.
Attempts have been made to make boards from bagasse, the leftover fiber from sugar cane processing. It works, more or less. The most useful application for bagasse is making clamshell containers and plates for fast food. It's cheap, biodegradable, and non-toxic.
[1] https://en.wikipedia.org/wiki/Staff_(building_material)