Plasterboard Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

Market Overview

The Global Plasterboard Market was  valued at over 8,435.04 million meter square in 2020,  and the market is projected to register a CAGR of  more than 5% during the forecast period (2021-2026).

The outbreak of COVID-19 is likely to bring several short-term and long-term consequences in the construction industry. According to The Associated General Contractors of America (AGC), there were disruptions to work or canceled projects and less demand for “non-essential” projects, like offices, entertainment, and sports facilities. Moreover, the performance of the construction sector is projected to be temporarily affected due to a negative impact on the liquidity of money as a result of the affected income of a relatively larger section of society. Besides, the disrupted supply of raw materials and labor are some of the major factors which have affected the construction activities during 2020. However, as the lockdowns were lifted in most countries around the world, and residential sales picking up is an encouraging sign.

• The demand for plasterboards has witnessed an increase from the construction sector, owing to superior quality, low cost, and ease of installation.
• The finished board offers unique properties, such as insulation to sound and heat, impact resistance, and resistance to moisture accumulation in bathrooms and kitchens.
• Strong demand for dry construction methods, over wet methods, and rising demand for fire-resistant construction materials are augmenting the growth of the market.
• Lack of awareness among residential end users and low availability of plasterboard waste disposal plants are likely to hinder the market growth.
• Emerging lightweight plasterboards are projected to act as an opportunity for the market, in the future.

Scope of the Report

Plasterboard is essentially an inner layer of gypsum that is sandwiched between two outer layers of lining paper, with various additives added to the gypsum layer while varying the additives, weight, and strength of the lining paper. The market is segmented by form consisting of square-edged and tapered. The market is segmented by types such as damp-proof plasterboard, fire-resistant plasterboard, impact-resistant plasterboard, insulated plasterboard, moisture-resistant plasterboard, sound-insulated plasterboard, standard plasterboard, and thermal plasterboard. The report also covers the market size and forecasts for the Plasterboard Market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done on the basis of volume (million-meter square).

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Key Market Trends

Increasing Demand from the Residential Industry

• The increasing middle-class population, coupled with their increasing disposable income, has facilitated the expansion in the middle-class housing segment, thereby increasing the use of plasterboard during the forecast period.
• Despite the higher demand, there is still a significant under-supply to meet the demand for housing globally. This is presenting a major opportunity for investors and developers to embrace alternative methods of construction and new partnerships in order to bring forward development.
• The highest growth is expected to be registered in the Asia-Pacific region due to the expanding housing construction market in China and India. Asia-Pacific has the largest low-cost housing construction segment, which is led by China, India, and the Southeast Asia countries.
• According to the National Statistics Bureau of China, around 154,567 units of households were sold in December 2020 compared to nearly 140,000 units in December 2019.
• Whereas in the United States, in January 2021, private-owned single-family housings that finished construction were more than 1 million units compared to 942 thousand units in 2020 January.
• In India, the government initiated a project called ‘Housing for All by 2022’, which is expected to immensely drive the low-cost residential construction segment in the country throughout the forecast period.
• Due to the increasing middle-class population and residential buildings construction, coupled with government initiatives and investments, the demand for plasterboard in the residential sector across all the regions is expected to increase during the forecast period.

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