Global Plasterboard Market Set For Rapid Growth, To Reach USD 28.16 Billion By 2024

31-Aug-2018 | Zion Market Research

Zion Market Research has published a new report titled “Plasterboard Market by Form (Square-Edged and Tapered-Edged), by Type (Standard, Fire Resistant, Sound Insulated, Moisture Resistant, Thermal, Specialist, Impact Resistant, Triple Low End, and Gas Filled), and by End-use Industry (Residential and Non-Residential): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 – 2024”. According to the report, global plasterboard market was valued at USD 19.10 billion in 2017 and is expected to reach USD 28.16 billion in 2024, growing at a CAGR of 5.7% between 2018 and 2024. 

Plasterboard is also known as drywall, gypsum board, wall panels/wallboard. Plasterboard is majorly utilized for the construction activities and is very helpful to the builders as well as designers to meet up the building regulations for acoustic insulation, fire protection, and thermal efficiency. Plasterboard can also help to control potential damage and compression in high humid areas.

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Global Plasterboard Market

Changing consumer preferences and rapid urbanization along with the robust need for the cost-effective construction materials contribute to the growth of the global plasterboard market. Increasing government focus on development initiatives to encourage infrastructural development in residential as well as in nonresidential sectors are the major factors aiding the development of the plasterboard market over the coming years. As plasterboards are easily installed and aids in speeding up the construction process its popularity is increasing among the end-users. An increased demand was witnessed for the plasterboards from end-user industries in 2017. The robust growth of end-user industries like the nonresidential sector across the globe is expected to be the major driver for the growth of the plasterboard market. Government is supporting as well as promoting the ecological policies. Sufficient raw material accessibility helps in the market growth. The manufacturing companies are focusing on developing innovative products, which is anticipated to open a new opportunity for the market. Plasterboard is one of the most trustworthy solutions in construction activities used by industries today.

Depending on the form; the global plasterboard market includes square-edged and tapered-edged. In terms of value, square-edged plasterboard form is expected to grow at the highest CAGR within the forecast period. Square-edged plasterboard is more preferable in multiple applications thus leading to the huge demand in 2017. Fire resistant type is the most widely used type of plasterboards. The nonresidential end-use industry is anticipated to grow at the fastest pace owing to its increased demand from the construction industry. In global plasterboard market, the nonresidential segment accounted for over 35% share in 2017. It is expected to continue its ascendancy in the forecast period. The rising demand for plasterboard from the nonresidential end-user industry segment is expected to propel the market growth. Increasing investments in infrastructure development and renovation activities are projected to augment the demand for plasterboard over the forthcoming years. The growth of plasterboard market is directly attributed to the growth of construction industry segment. The residential end-user industry segment holds several opportunities and is expected to be the major growth driver for the plasterboard market in the future years.

The Asia Pacific was the leading market for plasterboard in 2017. In terms of value, Asia Pacific accounted for above 40% share of the global market. Moreover, the Middle East and Africa, especially Saudi Arabia and Qatar are the fastest growing market for plasterboards in the near future. In 2017, North America was the second largest plasterboard market with around 23% share followed by Europe which held around 18% market share. Furthermore, the changing dynamics and favorable government policies in the region are expected to have a positive effect on the demand for plasterboard in the region. 

Some of the major players of the global plasterboard market are Georgia Pacific LLC, Etex Group, Ayhaco Gypsum Products, Jason Plasterboard Co. Ltd., Gypsum Management, Saint-Gobain S.A., Supply, Inc., Armstrong World Industries Inc., USG Corporation, National Gypsum, Knauf Gips KG, Siniat Ltd., Tanzania Gypsum Limited, Atiskan Gypsum Products Co. Inc., Lafarge Holcim Ltd., Boral Ltd., and Fletcher Building Ltd., among others. Major companies in the market adopted acquisitions, mergers and expansions strategy to enlarge their production capacities and share in the plasterboard market within the forecast period.

The report segments the global plasterboard market as follows:

Global Plasterboard Market: Form Analysis

  • Square-Edged
  • Tapered-Edged

Global Plasterboard Market: Type Analysis

  • Standard
  • Fire Resistant
  • Sound Insulated
  • Moisture Resistant
  • Thermal
  • Specialist
  • Impact Resistant
  • Triple Low End
  • Gas Filled

Global Plasterboard Market: End-User Analysis

  • Residential 
  • Non Residential 

Global Plasterboard Market: Regional Analysis

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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