(MENAFNEditorial) Plasterboard Market size should witness significant gains over the forecast timeframe owing to the emergence of environment friendly construction techniques & materials. Growth in consumer income, employment and modern retailing industry along with increasing demand for new & refurnishing construction projects should factorize industry growth.
Plasterboard are extensively used in commercial and residential frame construction like internal wall board and ceiling lining. It is a thin unbending gypsum core board compressed between two thick sheets of recycled paper. These materials cut down noise transmission across walls & accumulates moisture from bathroom and kitchen depending on the additives used in the product.
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Global construction spending should create growth opportunities for these products due to its positive application scope in construction sector. Low cost production, superior quality and ease of installation accompanied by development of advanced extrusion technology should drive plasterboard market size.
These products are accessible in two forms of squared edge and tapered edge, they offer disparate purpose along with different installation method. Tapered edge plasterboard market size should witness high gains owing to its low installation time and ease of maintenance. Consumer inclination towards luxury housing along with product desirability in housing systems should further propel demand.
Stringent fire & safety regulations and standard of materials to be used for building corporate offices, shopping centers, hospitals and institutions should drive product demand. Plasterboards offer good fire, impact, sound and moisture resistance to structures. Growing trend for safe & sustainable construction methods using bio-based products should further bolster industry growth.
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Plasterboard market size from residential construction applications should offer high industry growth opportunity owing to various government initiatives in countries like India, Thailand, Malaysia, Brazil and Venezuela. The offer initiatives including Smart Cities, flexible housing loans, easy FDI norms, and increased spending on urban infrastructure development. Smart City initiative undertaken in India would require investment of over USD 150 billion which should drive industry growth.
Manufacturers currently do not possess recycling systems and dispose-off production waste and used products in open areas which will have environment impacts along with hindrance in plasterboard market growth. Strict environmental regulations imposed by government and agencies should offer immense opportunity for manufacturers to invest in R&D and produce environment friendly & high-performance products.
Plasterboard market price trend would depend on production & price trends of gypsum. Countries importing gypsum might face danger of price increase along with high taxation regimes. Shortage of gypsum in global market could be neutralized by increased production capacity expansion in Oman and China attributing to its low labor wages and availability of raw material.
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Asia Pacific led by Japan, India and South Korea plasterboard market size should witness significant gains during the forecast timeframe owing to rapid urbanization rate and increased spending on renovating shanty towns. Manufacturers are investing in capacity expansion to meet growing regional product demand.
Europe plasterboard market size led by Germany, Italy and France should grow significantly by 2024. Growing demand for constructing new corporate offices & expanding healthcare industry should drive regional product demand.
Global plasterboard market share is highly fragmented with industry participants including Saint Gobain, Jason Group, Etex Group, Gyprock, Global Mining Company, Knauf Dubai and Ahlstrom Corporation. Companies are expected to adopt mergers & acquisition strategy with other players to expand their regional presence along with consolidating their position.
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