Global Drywall and Building Plaster Market - 2023-2030

Global Drywall and Building Plaster Market - 2023-2030

Market Overview

The global drywall and building plaster market size was worth US$ XX million in 2022 and is estimated to reach US$ XX million by 2030, growing at a CAGR of XX% during the forecast period (2023-2030).

Drywall refers to panels made from gypsum plaster pressed between thick sheets of paper and it is used to make ceilings or walls. Drywall construction has emerged as a speedier alternative to traditional plaster. The rapid expansion of construction activities globally propels the global drywall and building plaster market. The number of construction firms across countries is projected to increase with the innovation of drywall-based construction techniques. It is, in turn, expected to boost the market for drywall and building plasters.

Market Dynamics

The rapid expansion of construction activities globally principally drives the global drywall and building plaster market. It is likely to boost the market for drywall and building plasters significantly. However, The lack of resistance to environmental parameters, high price and availability of substitutes restricts the growth of the drywall & building plaster market.

Increasing demand for drywall & building plaster in construction sectors

The market's growth can be attributed to the increasing demand for drywall & building plaster owned for residential, commercial, industrial and others applications across the global level. Drywall has been found to adhere to specific construction requirements in shopping complexes and hotels as a lightweight construction material and is fire-resistant. The hotels, restaurants and educational institutes seeking soundproof facilities have looked to the drywall and building plaster market. Drywalls are essential in improving the aesthetic appeal of residential properties while also managing interior heat through thermal insulation provided by false ceilings.

Drywalls have also grown in popularity due to their versatility in dividing and creating spaces, allowing for quick and seamless interior customization options. Therefore, the drywall & building plaster market size is expected to develop revenue and exponential market growth during the forecast period.

The lack of resistance to environmental parameters, high price and availability of substitutes restricts the growth of the drywall & building plaster market

The drywall is moderately delicate and bears a risk of being damaged. In addition, drywall requires skilled manpower for installation, increasing the fixed cost. Couple this with the point that drywall mud sanding is an unwanted procedural step because of the fine dust created. Humidity can impact drywalls mainly by creating fungi growth, which can be a health hazard.

The alternatives, such as wahoo walls, are more beneficial and increasingly sought out. It is easy to install, reducing the initial cost and also has greater heat resistance because of a particular material thickness. Additionally, textured wall panels can be easily fitted over existing walls as they are aesthetically superior to drywalls. Real wood veneer paneling also looks better appearance-wise than drywall and the accessories available permit easy installation of the former.

COVID-19 impact analysis

The COVID-19 pandemic unevenly impacted the global drywall and building plaster market. Trade restrictions, breaking supply chains, government restrictions on manufacturing products and globally lockdowns affected the respective market. Therefore, the construction materials processing factories were closed. The demand for the global drywall and building plaster market decreased internationally.

Further, with the government movement restrictions and lockdowns, the development of new products was slowed considerably. It also hampered the ability of companies to respond to supply chains giving much more challenging.

Nonetheless, the overall impact of the pandemic has been minimal on the drywall and building plaster market as the pandemic failed to impact the long-term growth prospects of the global drywall and building plaster market. Thus, the demand for drywall and building plaster remains strong and is expected to grow gradually in the coming years.

Segment Analysis

The global drywall and building plaster market are segmented into product, distribution channel, end-user and region.

The residential segment covered a large area of the drywall and building plaster market due to a focus on energy-efficiency properties

The drywall and building plaster market is further subdivided by end-user into residential, commercial, industrial and others. The expansion of new home development and renovation caused the need for drywall and plaster in the residential building to increase. While drywall is a good insulator and can lower energy expenditures in a home, building plaster can make airtight seals around windows and doors, increasing a home's energy efficiency. Therefore, the growing emphasis on energy efficiency is another factor driving the need for drywall and construction plaster in residential construction.

Geographical Analysis

The global drywall and building plaster market are segmented into product, distribution channel, end-user and region.

Effective growth in investments in residential and construction industries in Asia-Pacific leads to propels the drywall and building plaster market in the region

Asia-Pacific has a leading regional share in the global drywall and building plaster market. Asia-Pacific is predicted to control the largest share of the global drywall and building plaster market during the forecast due to growth in the consumption and production of plaster in China. However, speedily expanding economies such as India, Indonesia and Malaysia also propose lucrative opportunities for the market. The effective growth in investments in residential and construction industries owing to increased purchasing power propels the global drywall and building plaster market. The rising population will affect the production capacity and provide the demand for energy-efficient drywall and building plaster industry.

Competitive Landscape

The building plaster market is competitive due to the availability of a wide range of medical foam that caters to different end-use applications. The major players contributing to growth in the market are Saint-Gobain, SANKO, Knauf Gips, Fermacell, Georgia-Pacific, PABCO Building Products Winstone Wallboards, China National Building Material, Yoshino Gypsum and Lime Green Products. The major players in the market adopt several growth strategies such as formulating and patenting new molecules, researching new sources, collaborations and joint ventures to contribute to growth in the industry.

Saint-Gobain

Overview:Saint-Gobain is a multinational company specializing in developing and manufacturing light and sustainable construction. Saint-Gobain develops, designs, manufactures and distributes materials and services for the construction and industrial markets. The company primarily develops formulations for thermal insulation, materials, industrial solutions, surface technologies, nutrition and care. Saint-Gobain founded in 1665 by De Saint-Gobain S.A.. Saint-Gobain is headquartered in Courbevoie, France. Saint-Gobain develops, produces and markets intermediates globally. The most important of the division’s product groups include construction, building and distribution, mobility and industry.

Product Portfolio
• Gyproc Drywall Systems A self-drilling drywall screw is used to install gypsum plasterboards on either side of a GI steel frame to create a high-performance, lightweight internal wall system. Compared to other traditional approaches like brick/block, it consumes less time, is simpler to install and requires less manpower. Gyproc Drywalls offer high fire resistance and good sound insulation. Furthermore, because drywall is significantly lighter than traditional brick/block structures, there are significant structural cost advantages. With the help of its centralized design team, Gyproc India has solid technical capabilities that can support you with drywall solutions that are both cost- and performance-efficient.

Key Developments:
• In March 2021, Saint-Gobain announced its investment in a 60/40 joint venture company with InDeco, one of the highest decoration and design companies for public space in China, to strengthen their long-term partnership in the field of modular construction, one step further in the Group strategy of the sustainable construction industry.

Why Purchase the Report?
• Visualize the composition of the global drywall and building plaster market segmentation by product, distribution channel, end-user and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the global drywall and building plaster market by analyzing trends and co-development deals.
• Excel data sheet with thousands of global drywall and building plaster market-level 4/5 segmentation data points.
• PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the critical product of all major market players

The global drywall and building plaster market report would provide approximately 61 market data tables, 60 figures and 212 pages.

Target Audience 2022
• Fire-resistant manufacturers
• Water-resistant manufacture
• Plasterboard transportation
• Wallboard manufacturers
• Chemical companies manufacturers
• Education & Research Institutes
• Research Professionals