Plasterboard Market - Growth, Trends, and Forecast (2020 - 2025)
The market for plasterboard is anticipated to register a CAGR of more than 5%, during the forecast period. The demand for plasterboards has witnessed an increase 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.
Strong demand for dry construction methods, over wet methods, and rising demand for fireresistant construction materials are augmenting the growth of the market.
Lack of awareness among residential end users and low availability of plasterboard waste disposal plants are likely to hinder the market growth.
Emerging lightweight plasterboards are projected to act as an opportunity for the market, in the future.
Key Market Trends
Increasing Demand from the Residential Industry
The increasing middleclass population, coupled with their increasing disposable income, has facilitated the expansion in the middleclass housing segment, thereby increasing the use of plasterboard, during the forecast period.
Despite the higher demand, there is still a significant undersupply to meet the demand for housing, globally. This is presenting a major opportunity for investors and developers to embrace alternative methods of construction and new partnerships, in order to bring forward development.
The highest growth is expected to be registered in the AsiaPacific region, due to the expanding housing construction market in China and India. AsiaPacific has the largest lowcost housing construction segment, which is led by China, India, and the Southeast Asian countries.
In India, the government initiated a project called ‘Housing for All by 2022’, which is expected to immensely drive the lowcost residential construction segment in the country, throughout the forecast period.
Owing to the increasing middleclass population and residential buildings construction, coupled with government initiatives and investments, the demand for plasterboard in the residential sector, across all the regions, is expected to increase during the forecast period.
China to Dominate the AsiaPacific Region
In AsiaPacific, China is the largest economy, in terms of GDP. The growth in the country remains high, but it is gradually diminishing, as the population is aging and the economy is rebalancing from investment to consumption, manufacturing to services, and external to internal demand.
China’s construction industry developed rapidly, due to the central government’s push for infrastructure investment, to sustain economic growth.
Despite the volatile growth in the real estate sector, the significant development of rail and road infrastructure by the Chinese government, to withstand the growing industrial and service sectors, has resulted in a significant growth of the Chinese construction industry in the recent years. As the construction industry is dominated by stateowned enterprises, the increased government spending is boosting the industry in the country.
Moreover, in order to contain the growing greenhouse gas predicaments in the country’s major cities, the country’s national climate commitment calls for 50% of all new buildings, constructed by 2020, to be certified as green buildings, while its 13th Fiveyear Plan prioritizes building efficiency. Following these commitments, the country’s green building sector is expected to increase from 5% to 28%, by 2030, representing a USD 12.9 trillion investment opportunity.
Overall, the market studied is projected to increase at high rates, owing to the rapid growth of the construction industry in the country.
The global plasterboard market is consolidated among the top players, with the top five players accounting for a major chunk of the market. Key players in the plasterboard market include Armstrong World Industries Inc., Etex Group, Georgia Pacific LLC, Gypsum Management and Supply Inc., LafargeHolcim, and SaintGobain SA, among others.
Reasons to Purchase this report:
The market estimate (ME) sheet in Excel format
3 months of analyst support
Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook