Market Research Future (MRFR), in its recently published research report, asserts that the global drywall & gypsum board market 2020 is booming and poised to rise exponentially over the review period, securing a substantial market valuation and a healthy 5.95% CAGR in the forecast period.
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Drivers and Restraints
Rising demand from the residential construction sector, coupled with increasing consumer spending on advanced construction materials, is expected to drive the growth. The growing construction sector in the country, coupled with the rising trend of single-family and multi-family house constructions, is projected to fuel the product demand in the forthcoming years. Also, growing innovative construction applications of gypsum board are likely to provide growth opportunities. Growing trends for aesthetic improvements in the building structures in light of the ability of the product to offer ground-breaking design and textures on its surface are likely to upsurge its application in high-end construction. Wallboards and ceiling boards are extensively used for improving the interiors of residential and commercial buildings.
Factors such as increasing urban migration in significant economies, rise in government spending in the real estate market for residential construction along with the growing need for high-class residential homes is anticipated to aid the market growth. On the other hand, fluctuations in the raw material prices and regulations concerning gypsum mining may hamper the market in the forthcoming years.
Leading market players focus on increasing production capacities and introducing gypsum boards with improved strength and durability. Furthermore, the players are investing in R&D to manufacture products specific to interior decorative applications with the addition of design and textures.
the global drywall & gypsum board market has been segmented based on products, end-users, and regions. Based on the product, the market has been segmented as wallboard, ceiling board, pre-decorated board, and others.
Based on end-user, the drywall & gypsum market has been segmented as residential and non-residential. Residential leads the application segment of the market and is poised to expand at the highest CAGR during the forecast period.
The geographical overview of the global market has been conducted in four major regions, including the Asia Pacific, North America, Latin America, Europe, the Middle East, and Africa.
Asia Pacific region held the largest market share in 2016, followed by Europe and North America. Rapidly growing construction activities in the region fuel the demand of the market. India, China, Japan, and Singapore are the major markets in the Asia Pacific. Economic development in the region has allowed for a more substantial requirement of institutional and commercial infrastructure spaces. This fuels the growth of the market. Market players across the globe are gradually shifting their production facilities to cater to high potential demands in the Asia Pacific, mainly due to the availability of low-cost labor and ample raw material stocks. This has a positive influence on the development of the market. China is one of the leading markets in the Asia Pacific market.
North America is another primary market for the drywall & gypsum board. Growing residential and non-residential construction undertakings, fuel the growth of the market. The usage of drywall in residential construction in Europe is expected to increase due to its rising popularity. the Middle East & South America regions are poised to contribute significantly, during the review period, mainly due to changing lifestyles and high growth in the construction sector.
The key market players operating in the global market as identified by MRFR are USG Zawawi Drywall LLC SFZ (Oman), Global Mining Co. LLC (Oman), Gypsemna Co. LLC (Dubai), Knauf Middle East (Dubai), Gulf Gypsum Co. (Qatar), Etex Group (Belgium), National Gypsum Co. (U.S.), Lafarge Group (France), Saint – Gobain Taishan Gypsum Co. (China), Gyproc India Ltd (India), Yoshino Gypsum Co., Ltd. (Japan.)., Kingspan Group plc. (Ireland), Winstone Wallboards Limited (New Zealand), Supress Products, LLC (U.S.), and Gyptec Iberica (Portugal).
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