Global Plasterboard Market - Segmented by Form, Type, End-User Industry and Geography - Growth, Trends and Forecast (2018 - 2023)
The global plasterboard market is expected to witness a moderate CAGR during the forecast period (2018-2023). The growing demand for plasterboards from the construction sector is the major factor driving the market. The demand for plasterboards has been at a rise from the construction sector, owing to superior quality, low cost, and ease of installation. Plasterboard is essentially an inner layer of gypsum that is sandwiched between two outer layers of lining paper, with various additives added to the gypsum layer, while varying the additives, weight, and strength of the lining paper. The finished board offers different properties, such as insulation to sound and heat, impact resistance, and resistance to moisture accumulation in bathrooms and kitchens.
Adoption of Dry Construction Methods
With the adoption of dry method, the whole process of construction has accelerated. This is majorly because, dry method involves lighter materials, which are faster to install than the bricks. Hence, this has also reduced the need for wet trades. Additionally, it saves time and costs involved. The market for plasterboards is likely to grow with the increasing construction activities, investments, and projects in developing countries, such as India, China, Brazil, Indonesia, etc., during the forecast period. Residential end user is the fast-growing market, since plasterboards are used for construction of ceilings, wall panels, and partitions.
Asia-Pacific Dominates the Market
Asia-Pacific is expected to have the largest market, globally, for plasterboards, during the forecast period. This is majorly due to the rising construction activities in developing economies of the region, such as China, India, Indonesia, and Malaysia. Furthermore, the increasing investments in the construction sector of these countries is likely to propel the market for plasterboards during the forecast period. Some of the major upcoming construction projects in India include the Delhi-Jaipur Expressway, Polavaram Irrigation Project, Navi Mumbai International Airport, and the Delhi-Mumbai Industrial Corridor.
Key Developments in the Market
July 2017: An agreement was made, which offered to make Etex Group, the majority shareholder of Pladur, a Spanish manufacturer of gypsum products.
August 2017: Kanuf has announced the completion of a new plasterboard manufacturing facility in Bundaberg. The plant delivered its first plasterboard on August 28, 2017.
The major players: Armstrong World Industries Inc., Etex Group, Saint-Gobain SA, Georgia Pacific LLC, and Gypsum Management and Supply Inc., amongst others.
Reason to Purchase the Report
Analyzing various perspectives of the market with the help of Porter’s five forces analysis
To understand the dominating type and end-user industry in the market
Countries expected to witness the fastest growth during the forecast period
Identify the latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimation sheet (in excel)
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