Gypsum boards are light weight construction materials that are widely being used as walls, ceilings and for partitions in residential or non-residential structures. They are often called drywall, wallboard or plasterboard. They provide sound control, versatility, quality, convenience, and their non-combustible core makes them different from plywood, hardboard and fiberboard. The growth in remodeling and restructuring of the homes, is also expected to fuel the demand for the Gypsum Board & Drywall Market. Additionally, rise in focus on environmentally sustainable green building construction materials that reduces overall overhead expenses, has boosted the industry growth. However, fluctuating price of raw materials, may restrict the growth of the market.
The governments across all regions are seen promoting and developing their construction sector. The emerging nations are the ones that are, particularly, bringing various reforms and regulations to boost their infrastructure growth and real-estate market. Such growth is expected to augment the market growth of gypsum board & drywall. The government of India announced several major policy initiatives to boost the construction industry in the country. They are the passage of the Real Estate (Regulation and Development) Act 2016, the amendment to the Benami Transactions Act, and 100% deduction in profits for affordable housing construction. The change in arbitration norms for construction companies is also one of them. Global Drywall & Gypsum Board Market is expected to grow at ~ 5.95% CAGR during the forecast period.
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The Prominent Players in the drywall & gypsum board market include USG Zawawi Drywall LLC SFZ (Oman), Knauf Middle East (Dubai), Gypsemna Co. LLC (Dubai), Global Mining Co. LLC (Oman), Gulf Gypsum Co. (Qatar), National Gypsum Co. (U.S.), Etex Group (Belgium), Lafarge Group (France), Saint – Gobain Gyproc India Ltd (India), Taishan Gypsum Co. (China), Yoshino Gypsum Co., Ltd. (Japan.)., Kingspan Group plc. (Ireland), Winstone Wallboards Limited (New Zealand), Supress Products, LLC (U.S.), and Gyptec Iberica (Portugal).
Market Research Analysis
For the purpose of this study, the global drywall & gypsum board market has been divided into three segments, by product, by end-user, and by regions. On the basis of product, wallboard accounts the largest market share and is expected to remain dominant over the forecast period. Increasing use of wallboard in non-load wearing walls and suspended ceilings, drive the demand of the market. Wallboard, progressively, has come to be recognized as a better alternative to traditional plank and plaster products, is revolutionizing both, residential and commercial construction equally. Pre-decorated boards are gaining momentum, due to their flexibility. These boards, consequently, have decorative surfaces, and are either painted or printed. Moreover, ease of assembly, and scope for customization, according to end-users, are also major factors driving pre-decorated boards growth. The ceiling board segment is expected to contribute, significantly, during the forecast period.
On the basis of end-user, residential segment dominates the application segment of the market, and is expected to grow at the highest CAGR, during the forecast period. Non-residential sector is expected to contribute, during the forecast period. Non-residential sector compromises hotels, corporate offices, education institutes, and others.
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