On the back of rapid infrastructural development across emerging economies as a result of expanding urban population – the building and construction industry is flourishing. Owing to stringent regulations and cost factors, construction companies are inclining towards lightweight materials as well as those that are fire resistant. Drywall and building plasters are ideal materials for the construction of hotels, shopping complexes, and educational institutes are they are also soundproof and aid to aesthetic appeal. According to the findings of a recent business intelligence study by Transparency Market Research, the demand in the global drywall and building plaster market will increment at a formidable CAGR during the forecast period of 2016 to 2024.
The report, titled “Drywall and Building Plaster Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024,” has been compiled by experienced research analysts via primary and secondary research, using proven methodologies, and aspires to serve as a credible business tool for its targeted audiences such as manufacturers of drywall and building plasters, suppliers of raw materials, traders and distributors, government agencies, and industry associations. The report begins with an executive summary of the drywall and building plaster market in its present scenario, represents its growth prospects, and provides valuations in terms of US dollar million.
The market for drywall is driven by its immense utility when it comes to sound reduction, fire resistance, and increasing overall life of residential and non-residential infrastructural structures. Drywalls are used as a material of separation between two walls within a building. On the other hand, the requirement of skilled professional to work with these materials, potential of damage as a result of exposure to humidity, and increase in fixed cost are some of the factors obstructing this market from attaining greater potential. Additionally, the availability of alternatives such as textured wall panels and real wood veneer are also hindering the growth rate.
Based on product type, the building plaster market can be segmented into gypsum plasters, lime plasters, and cement plasters. Application-wise, the drywall and building plasters market can be segmented into residential, offices, wholesale and retail buildings, hotels and restaurants, academic and educational buildings, and others. Geographically, the report explores the potential of demand that can be expected out of the developed countries of the U.S., Germany, France, and the U.K. as well as from the emerging economies of China, India, Malaysia, Thailand, and others. Currently, the emerging economies in Asia Pacific are showing the greatest potential for a strong demand in the near future.
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Saint-Gobain from France, BNBM from China, and Etex from Belgium are some of the notable companies currently holding an edge in the global drywall and building plaster market. The report profiles some of the leading companies operating in this market, representing their position in the global market, exploring their geographical presence and business overview, as well as their recent strategic decisions.