Plasterboard Market 2022 growth latest application share recent trends and better investment opportunities by forecast to 2030
Plasterboard Market Overview
The global pandemic of COVID-19 is predicted to have a variety of long- and short-term repercussions in the global construction and plaster industries. According to reports from The Association of General Contractors of America (AGC), ongoing projects were disrupted and several projects were canceled as a result of the pandemic. The pandemic has also resulted in lower demand for non-essential projects such as entertainment, offices, and sports facilities. Furthermore, due to covid 19, the general growth of the plasterboard sector is likely to be temporarily hampered.
The plasterboard market is expected to be valued at USD 36.21 Billion by the end of the forecast period, registering a considerable CAGR. Plasterboards are used as internal wallboards and ceiling lining in frame buildings for a variety of purposes, including noise reduction. Plasterboards are available in a variety of thicknesses and sizes. The global market can expect significant growth in the coming years as the global urbanization rate continues to rise. The worldwide construction industry’s strong expansion continues to be a major growth element in the plasterboards market. Plasterboards are in high demand in the building industry because of their low cost, ease of installation, and good quality. Plasterboards in kitchens and bathrooms have outstanding features such as sound and heat insulation, moisture resistance, and impact resistance. In addition, the market will grow as the need for fire-resistant materials and dry construction methods for various construction activities grows.
Market Segmentation
Based on the type, the market has been segmented as Fire-Resistant, Standard, Sound-insulated, Moisture-Resistant, Thermal, Specialist, and Impact-Resistant.
Based on the End-User, the market has been segmented as Residential and Non-Residential.
Based on the Form, the market has been segmented as Tapered-Edged and Square-Edged.
Based on the Region, the market has been segmented as Asia-Pacific, Europe, North America, The Middle East, and Africa.
Regional Classification
The North American region had the greatest plasterboard market share, and it is expected to continue to dominate the market by the end of the forecast period. During the forecast period, the Asia-Pacific area is expected to increase significantly. Due to the expansion of various multinational businesses in this region, developing countries like India and China have experienced a tremendous increase in the worldwide plasterboard market revenue recently. Furthermore, the growing economy and increased industrialization are fueling the rise of the plasterboard industry. The worldwide plaster market is mostly driven by increased consumer demand for long-lasting, low-cost building materials. The growing popularity of plasterboards among end-users due to their ease of installation is fueling the market’s expansion. The worldwide plasterboard industry will benefit from organizations’ increased preference for sustainable construction technologies over old ones.
Industry News
The major key players in the market are Armstrong World Industries Inc., Etex Group, Saint-Gobain SA, Gypsum Management and Supply, Inc., Georgia Pacific LLC, KNAUF Gips KG, Fletcher Building Limited, Boral Limited, LafargeHolcim Ltd., National Gypsum Company, Associated Tube Group, EVRAZ PLC, Marmon/Keystone Canada Inc., Sandvik AB, Tenaris SA, WELDED TUBE OF CANADA CORP., USG Corporation, and Welded Tubes, Inc. The growing number of new projects in developing nations is predicted to open up the attractive potential for the global plasterboard industry. In the future, increased investment in development and research to produce eco-friendly and high-performance plasterboard will give prospects.
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