Press release
Plasterboard Market - Global Industry Growth 2023
Rise in the building & construction industry across the globe is anticipated to drive the plasterboard market. Developing countries are major contributors to the rising building & construction industry. Industrial as well as residential construction in China, Latin America, the Middle East, India, and other developing regions are the highest contributors to the revenue generation of the global building & construction industry. Additionally, expected recovery of the construction industry from slowdown in North America is anticipated to boost the plasterboard market. Issues with safe disposal of plasterboards are likely to hamper market growth. Currently, there are limited or no recycling systems available in the market. Thus, most manufacturers dispose plasterboards in open areas. However, increasing environmental regulations imposed by regional regulatory bodies are expected to hamper the market in the near future. Research & development activities to develop environment-friendly, high-performance products are likely to offer immense opportunities to market players. Furthermore, changing preferences from wet construction methods to dry construction methods globally may offer opportunities in the near future.
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In terms of demand, North America dominates the global plasterboard market. North America was the largest producer of plasterboard; however, Asia Pacific recently experienced rapid expansion in the production capacity. Demand for plasterboards in Asia Pacific is anticipated to increase at the fastest rate in the next few years. The plasterboard market in Europe and North America is estimated to expand at a sluggish rate due to subdued economic conditions in Europe and maturity in North America. Latin America is expected to exhibit strong growth in the near future. This can be ascribed to construction activities gaining momentum due to global sports events such as the FIFA World Cup and Olympics. Furthermore, strong economic growth is one of the major factors driving the demand for plasterboard in the region.
The global plasterboard market is moderately consolidated, with key players operating across the value chain. Market players are also concentrating to provide integrated solutions to expand their market share. Major players are investing significantly in research & development to improve their manufacturing process and develop new products. Key players operating in the plasterboard market include Gyprock, Knauf Insulation, BGC Plasterboard, Beijing New Building Material (Group) Co., Ltd., Boral Limited, Chiyoda UTE Co., Ltd., PT Siam-Indo Gypsum Industry, Saint-Gobain, Lafarge, Etex, National Gypsum Company Properties, LLC and Yoshino Gypsum Co., Ltd.
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