Persistence Market Research in its latest report projects that the global drywall & building plasters market will expand at a CAGR of 5.4% during the forecast period (2017-2025) to reach a valuation of US$ 65,004.8 Mn. Lately, preference for drywall has increased to a significant level as compared with other construction materials such as cement concrete owing to its superior characteristics and ease of application, hence making it a suitable alternative.
In 2016, the global drywall & building plaster market stood at around US$ 40,624.6 Mn. The report titled “Drywall & Building Plaster Market Global Industry Trend Analysis 2012-2016 and Forecast, 2017-2025” projects that close to 14,202 million square meters of drywall is likely to be sold towards the end of 2025.
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Drywall & building plasters find widespread applications in new building constructions as well as in upgrade, maintenance and repair work of old residential & nonresidential structures. This, in turn, is anticipated to drive their sales in the years to come.
Key Insights of the Report Include:
- By product type, building plasters will continue to account for a higher value share of the market than drywall throughout the assessment period. On the other hand, drywall is expected to register a faster CAGR in terms of value. By 2017-end, the drywall segment is estimated to account for around 42.3% share of the overall market.
- Application of drywall & building plaster in residential and hotels & restaurant construction is expected to remain robust in 2017 and beyond. These application segments are expected to account for a large percentage of the global market revenue.
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Asia Pacific at the Forefront of Global Drywall & Building Plaster Market
The market in Asia Pacific is estimated to remain dominant over 2025, owing to several massive ongoing and upcoming construction projects in countries such as China and India. In addition, the region has been exhibiting a higher demand for drywall & building plasters than other regions, on account of its high growth rate & market size of the building construction market.
Meanwhile, North America will continue to be the second-largest market for drywall & building plaster over the forecast period. In Europe, factors such as increasing awareness about the product advantages and growing requirement of maintenance & repair activities are expected to fuel the demand for drywall & building plasters.
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Competitive Landscape
Some of the leading companies operating in the global market for drywall & building plaster include Knauf Gips KG, Compagnie de Saint-Gobain S.A., Etex S.A., USG Corporation, Fermacell, Gyptec Iberica, Georgia-Pacific, National Gypsum Properties, LLC, USG Boral Building Products, PABCO Building Products, LLC, American Gypsum Company LLC, ROCKWOOL International A/S, Continental Building Products, LafargeHolcim, Winstone Wallboards Limited, China National Building Material Company Limited, Kingspan Group plc., Yoshino Gypsum Co., Ltd., Supress Products, LLC, Lime Green Products Ltd.
Access Related Reports-
- Global Market Study on Construction Aggregates: Increasing Investments in Infrastructure Development Driving Worldwide Demand
- India Market Study on Construction Chemicals: Demand for Plaster and Adhesives & Sealants to Surge across the Country
- Global Market Study on Construction Aggregates: Supported by Infrastructure Investments to Reflect Over 5% CAGR by 2021
- Global Market Study on Playground Surface Materials: Increasing Adoption of Artificial Turf Supported by Safety Regulations to Assist Growth
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