Global Plasterboard Market: Demand Analysis and Growth Forecast
Gaining traction from the flourishing construction industry, primarily in the APAC region, the global plasterboard market is poised for excellence in the near future, as per the findings of a newly published market research report by IndustryARC. The report evaluates the global plasterboard market to be filled with opportunities worth around $19.754 billion as of 2018, with the demand expanding at a CAGR of 4.6% during the forecast period of 2019 to 2025. The report is titled, "Plasterboard Market: By Type (Standard, Fire-Resistant, and Others); By Form (Tapered-Edged, Square-Edged, and Others); By Application (Walls, Ceilings, and Others); By End User (Residential Building, Commercial Building, and Others); By Trends; & By Geography (North America, South America and Others) Forecast (2019 - 2025).”
Plasterboard is also known as drywall, wallboard, sheetrock, gypsum board, gyprock, or gypsum panel. It is a panel made up of calcium sulfate dihydrate (gypsum) used for the construction of ceilings and interior walls. Rapid industrialization and increased disposable income along with the need for better infrastructures are provisioning the future endeavors of the plasterboard market.
Plasterboard is commonly used for interior wall covering such as covering insulation, plumbing pipes, and electrical wires. According to the report by the United States of Labor, the median annual wage for drywall and ceiling tile installers was $42,860 in May 2017. This is to say that the construction industry observed a robust global revenue and is growing. The demand in the plasterboard market is gaining traction from the construction sector, owing to superior quality, ease of installation, and low cost.
Browse 60 Market Tables, 179 Figures spread through 142 slides and an in-depth TOC “Plasterboard Market (2019 - 2025)”
Global Plasterboard Market: Leading Segments
According to IndustryARC’s market analyst, APAC dominated the demand with a regional share of more than 36% in 2018. Furthermore, the wall is the leading application with a CAGR of around 4.9% during the forecast period. The plasterboard walls are slimmer than brick walls, thus it can create more usable space for the room. Furthermore, drywalls can support the heavy fixtures and able to withhold the minimum loading of 25kg. Most consumers want to leverage this aspect of the plasterboard walls in order to fix television, wall cupboards, and cabinets which are driving the plasterboard market. Additionally, rising residential construction industries in China and India is propelling the plasterboard market in the APAC region.
Global Plasterboard Market: Trends
- Engineers manual recommend multiple layers of plasterboard as it helps reduce noise and sound control. Office accommodations need to be designed for flexibility of use, ease of access and to fire safety regulations. Hence plasterboards are widely accepted from offices and resident. Plasterboards features such as fire resistance and sound control are driving the plasterboard market.
- Plasterboards are vulnerable to moisture and need to be replaced when damaged. These process can dwarf the plasterboard market size. Hence, manufacturers introduced non-paper-faced drywalls to avoid moisture issues.
- Different innovations with the recent product are very crucial to sustaining in the market. Hence, manufacturers introduced green guard certified drywall. These kinds of walls are tested and certified for low emission of volatile organic compounds. VOC drywalls actively remove poisonous gas from the air, converting it into a safe, inert compound that helps to improve indoor air quality. Low emission VOC drywalls are suitable for residential construction and remodeling projects that are fueling the growth of plasterboard market.
- Around 20% of plasterboard is wasted during the installation process in new commercial and residential construction. Innovation for recycling now resulted that plasterboard can be added to fertilizer as well as for soil conditioner formulations as a substitute for agricultural gypsum.
Global Plasterboard Market: Competitive Landscape
Some of the major players in the plasterboard market are Armstrong World Industries Inc., Etex Group, Supply Inc., Saint-Gobain SA, Georgia Pacific LLC, and Gypsum Management.
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