According to a new report by Expert Market Report titled, ‘Global Drywall Market Report and Forecast 2019-2024’, the global construction market is expected to reach a value of USD 15.5 trillion by 2030 which is further anticipated to bolster the global drywall market. Especially in North America, the construction industry is expected to grow at a CAGR of 4-5% in the upcoming years.
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Drywall, also known as wallboard or plasterboard, comprises gypsum (a powdery grey or white sulfate mineral) between two paperboards. In comparison with other wall materials like plaster and solid wood, gypsum boards are non-combustible, cheaper and lighter. As a result, drywall is popular across the United States for constructing interior walls and ceilings of houses. Due to its lightweight and fire-resistant property, drywall adheres to specific construction requirements for building shopping complexes and hotels. Recently, educational institutes and hotels incorporate drywall in their premises as it provides soundproof facility along with durability. On the other hand, it is used in the residential sector to improve the aesthetic appeal and manage interior temperature through thermal insulation. They are also in demand due to their flexibility in creating and dividing spaces which enables quick and seamless interior customization options.
The rapid GDP growth in developing markets, such as Brazil, Mexico, Thailand, India and Indonesia, has led the construction industry to flourish which is one of the major growth-inducing factors of the market. In India, various policy initiatives are further increasing housing projects which, in turn, is providing a thrust to the drywall market. Some of them include the Benami Transactions Act and the Real Estate Act 2016. Moreover, the rising construction of commercial buildings and hotels on account of mounting tourist influx in numerous countries has increased the requirement for ceiling panels for aesthetic purposes. Progress in technology has also aided in computerizing different designs and offering tailor-made solutions to consumers according to their requirement.
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Market Breakup by Types:
The drywall market is divided on the basis of types into a regular, water resistant, fire resistant (Type X and Type C) and mould resistant.
Market Breakup by Applications:
Drywall is extensively used in the building industry across the commercial and residential sectors.
Market Breakup by Regions:
Middle East and AfricaRegion-wise, the market is segregated into North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
Key Findings of the Report:
Prefabricated structures, which incorporate drywall, are widely being preferred in commercial applications since they offer flexibility of changing workspace configuration whilst providing colour retention to surfaces and maximum stability.
Rising focus on incorporating sustainable green building materials which reduce overall expenses is also contributing to the market growth.
Ongoing and upcoming reconstruction and remodelling projects in the building industry are anticipated to further propel the demand for drywall across the world.
Increasing government spending in confluence with emphasis on the delivery of affordable housing is fueling the growth of the drywall market in GCC countries.
As a result of various government initiatives in India like flexible housing loans, the development of Smart Cities and investment in urban infrastructure development, residential construction is expected to witness strong growth.
Key Offerings of the Report:
The report by EMR offers the regional historical (2014-2018) and forecasted (2019-2024) price trends of the drywall market.
It also provides the market for different types and applications of drywall for the historical (2014-2018) and forecasted period (2019-2024).
The report gives insights regarding the trade analysis of the market which includes value and volume data for both exporting and importing countries in 2018.
It gives an intricate analysis of the market for types and applications of gypsum (feedstock) during the historical (2014-2018) and forecasted period (2019-2014).
It includes price analysis of the regional market for gypsum for the period 2014-2018 and 2019-2024.
Competitive Landscape & Supplier Analysis
BGC Partners, Inc.
American Gypsum Company, LLC
Chiyoda Ute Co., Ltd.
Eagle Materials Inc.
Continental Building Products, Inc.
The key players in the global drywall market include USG Corporation, American Gypsum Company, LLC, CertainTeed Corporation, National Gypsum, Georgia-Pacific LL, Chiyoda Ute Co., Ltd., BGC Partners, Inc., Continental Building Products, Inc., Eagle Materials Inc. and PABCO Gypsum. The report by EMR gives an intricate insight into the competitive landscape of the global drywall market including the recent developments amongst the key players like their market share, plant turnarounds, capacity expansions, and mergers and expansions.
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