The global gypsum board market is
expected to reach USD 79.17 billion by 2025, according to a new report by Grand
View Research, Inc. Rapid economic growth in Asia Pacific and GCC countries has
led to tremendous increase in migration of rural population to urban areas,
thereby spurring plasterboard demand for residential accommodation.
High purchasing and borrowing
power, easy availability of housing finances along with increasing number of
dual income families are some key factors driving construction industry growth.
The Saudi Arabian government has taken various measures in 2016 in order to
address affordable housing needs of middle income families. The ministry plans
to provide over 2,33,651 residential units through 187 housing projects in its
pipeline. These factors are positively influencing gypsum board market growth
across the region.
Pre-decorated boards are gaining
wide acceptance in various construction projects owing to their low maintenance
and easy installation properties which makes them cost and time effective.
Growing focus towards environmentally sustainable green building construction
materials, which reduces overall overhead expenses has boosted industry growth.
Residential construction is
anticipated to witness high growth rate in India owing to various government’s
initiatives including Smart Cities, easing FDI norms, flexible housing loans
and increasing investment in urban infrastructure development. These factors
are further projected to augment gypsum board demand.
U.S. gypsum board market revenue by product, 2014 - 2025
(USD Million)
Browse full research report on Gypsum
Board Market
Further key findings from the report suggest:
- The global
gypsum board demand exceeded 11.68 billion square meters in 2016 and is
expected to grow at a CAGR of 6.1% from 2017 to 2025
- Wallboard
emerged as the dominant product segment in 2016 owing to the increasing
demand of cost and time effective building materials in various green
building projects
- Ceiling board
is also increasingly being preferred by architects since it facilitates a
beautiful, homogenous appearance along with a smooth finish without any
visible joints
- Gypsum
products holds the potential to replace traditional building materials
including wood, steel and glass owing to its wide application scope
- Abundant
mineral reserves in GCC economies, including Iran has led to increased
production in the region, which has created ample growth opportunities for
domestic as well as international players
- Key players
include Etex Group, Global Mining Company LLC, Beijing New Building
Material, Lafarge, Knauf Dubai, Gypsemna, USG Zawawi LLC, Saint Gobain
Gyproc and UMI Company Ltd. among others
For more information: http://www.grandviewresearch.com
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