Plasterboard Market in APAC to increase by USD 3.63 billion during 2023-2028; Rapid urbanization coupled with rise in construction activities to drive the growth – Technavio

NEW YORK, Nov. 20, 2023 /PRNewswire/ — The plasterboard market in APAC size is expected to grow by USD 3.63 billion between 2023 and 2028. However, the growth momentum of the market will progress at a CAGR of 8.11% during the forecast period. The market is segmented by Type (Square-edged and Tapered-edged) and End-user (Residential and Non-residential).

The rapid urbanization coupled with a rise in construction activities drives the market growth. The growing population leads to an upsurge in the construction of residential and commercial establishments. Thus, the rise in construction projects is expected to increase the demand for several products, which enhance the aesthetic appeal of the establishments, including plasterboard. The growth in the number of commercial and residential buildings, coupled with rapid urbanization drive growth of the market in APAC. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View a Free PDF Sample 

Key Higlights:

The report recognizes the following as some of the key players in the plasterboard market in APAC: ATISKAN STRUCTURE AND INDUSTRIAL GYPSUM PRODUCTS INDUSTRY. VE TIC. Inc., BGC Australia PTY Ltd., China National Building Material Co. Ltd., Chiyoda Ute Co. Ltd., CSR Ltd., Compagnie de Saint Gobain, Eagle Materials Inc., Etex NV, Fletcher Building Ltd., Gypelite India Pvt. Ltd., India GYPSUM PVT. LTD., Knauf Gypsum Pty Ltd., and Koch Industries Inc.Plasterboard Market in APAC is concentrated in nature.Market to observe 7.55% YOY growth in 2024.

Market Dynamics:

Trend

The development of advanced plasterboard materials is an emerging market trend.The market players are constantly concentrating on enhancing the technologies and characteristics of products to improve customer satisfaction.Some of the major features of these products include superior breaking strength, crisp edges with cleaner cuts, and ease of lifting.Thus, its adoption is expected to increase for ceiling lining in residential establishments.

Challenge

The volatility in raw material prices and the presence of various local players challenge the market growth. Knauf Gips, Compagnie de Saint-Gobain, and LafargeHolcim Ltd. (LafargeHolcim) are some of the major market players.They experience fluxes in profit margins owing to the volatility in raw material prices and the rising competition among global and local APAC plasterboard market players.Factors such as cost-driven end-users prefer reasonable-priced plasterboards rather than investing in costly products manufactured by the global market players.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing the report.

Keg Segments:

The square-edged segment is significant during the forecast period. This is a plasterboard with square edges, which consists of sheets with uniform, straight borders. Furthermore, this kind of plasterboard ceiling option is frequently preferred due to the factor that joints are more flush, which decreases their visibility. They have various advantages over tapered edges, including being less expensive, simpler to install, and suitable for ceiling construction. Owing to such advantages, the growth of the square-edge plasterboard segment will observe positive growth. This, in turn, will boost the growth of the Asia Pacific – plasterboard market during the forecast period. Get a glance at the market contribution of the segments, Request a FREE Sample

The mica market size is estimated to grow at a CAGR of 3.15% between 2023 and 2027. The market size is forecast to increase by USD 97.85 million.

The gypsum board market is estimated to grow at a CAGR of 7.45% between 2022 and 2027. The size of the market is forecast to increase by USD 15,865.52 million.

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Type

Market Segmentation by End-user

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com

View original content to download multimedia:https://www.prnewswire.com/news-releases/plasterboard-market-in-apac-to-increase-by-usd-3-63-billion-during-2023-2028-rapid-urbanization-coupled-with-rise-in-construction-activities-to-drive-the-growth—technavio-301993067.html

SOURCE Technavio