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Global Plasterboard Market to Grow at a CAGR of around 5.3% During 2022-2027, Aided by the Growing Product Utilisation in Residential and Commercial Construction Projects

According to a new report by EMR titled, ‘Global Plasterboard Market Report and Forecast 2022-2027’, the market attained a value of more than USD 21.89 billion in 2021. The industry is further expected to grow at a CAGR of around 5.3% between 2022 and 2027 to reach a value of over USD 29.79 billion by 2027.

Plasterboard is a superior quality product with high heat and impact resistance, and sound insulation properties. In addition to this, plasterboards are easy to install and the cost of installation is low. Hence, the product is anticipated to witness a significant demand for residential construction applications in the forecast period. Moreover, the increasing inclination of consumers towards home furnishing and home designing, owing to the rising standards of living is likely to provide impetus to the market in the forecast period. Furthermore, the rising demand for plasterboard in commercial construction projects owing to its cost-effectiveness is expected to aid the market in the forecast period.

The leading market players are increasingly investing in research and development activities to provide consumers with innovative building solutions. In June 2019, Armstrong World Industries, Inc. (NYSE: AWI) announced the introduction of ACOUSTIBuilt™ seamless acoustic ceilings, which will provide the look of a drywall but will give the performance like an acoustic ceiling.

Geographically, Europe accounts for a significant share in the market owing to the rising government investments in multi-housing projects in Switzerland, France, and various other countries. In addition to this, the rapid development of commercial infrastructure in metropolitan cities is anticipated to boost the demand for plasterboard in the forecast period.

Market Breakup by Form, Product Type, End-User, and Region:

  • The market is segmented based on form into tapered-edged, square-edged, round-edged, and bevelled-edged, among others.
  • Based on product type, the market has been segmented into fire-resistant, sound insulation, moisture-resistant, thermal, and impact-resistant, among others.
  • The significant end-users of the product include residential, commercial, and industrial, among others.
  • Region-wise, the global market for plasterboard can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for plasterboard is being driven by the flourishing building and construction sector owing to the rising disposable income, rapid urbanisation, and rising population.
  • The increasing demand for superior quality, heat resistant, and impact resistant building materials is anticipated to provide a further impetus to the market in the forecast period.
  • The low cost of plasterboard is likely to propel its demand in affordable housing projects.
  • The market is expected to be aided by the preference for plasterboards over traditional plasters and laths.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for plasterboard for the periods (2017-2021) and (2022-2027). 
  • The report also offers historical (2017-2021) and forecast (2022-2027) market information for the forms, product types, end-users, and major regions of plasterboard.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global plasterboard market are Armstrong World Industries, Inc., Atiskan Gypsum Products Co. Inc., Fletcher Building Limited, USG Boral Limited, and Georgia Pacific LLC, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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