Drywall Gypsum Board Market Research Report Overview
Drywall Gypsum Board Market is projected to be worth USD 45.09 billion by 2030, registering a CAGR of 5.95% during the forecast period (2021-2028). During the projection period, the drywall and gypsum board industry is experiencing the emergence of relevant and dependable market factors that will provide the market with good chances for growth and expansion. The construction industry's fastest expansion, combined with a significant increase in the current popularity of such systems, is expected to move the market forward in the international market environment. In addition, due to a significant increase in people's disposable income, the share of the down payment for second house loans has decreased. Furthermore, the fact that ordinary housing is exempt from sales tax is beneficial to the market's ability to grow and function at a high level.
The value of the Drywall And Gypsum Board Market has been seriously harmed as a result of the abrupt onset of the new coronavirus pandemic in the international market environment. The global market scale has been witnessing a constant emergence of market issues and restraints such as the imposition of permanent and temporary lockdowns, followed by a reduction in the availability of resources and skilled labor, all of which could stymie market growth as predicted for the forecast period following the pandemic year of 2020, according to market predictions. The desperate market requirement for market players to return to normalcy has increased dramatically.
Market Segmentation
Based on the market product, the market has been segmented into wallboard, ceiling board, pre-decorated board, many others.
Based on the market end-user, the market has been segmented into the residential non-residential segments.
Based on the region, the market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
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Regional Classification
The APAC region's economic growth has resulted in a higher need for institutional and commercial infrastructure areas. The regional market grows as a result of this. Due to the availability of low-cost labor and plentiful raw material stockpiles, prominent industry players throughout the world are gradually moving their production facilities to serve high-potential markets in the Asian Pacific area. This has a beneficial impact on the market's global growth over time. China is quickly becoming one of the region's most important markets. The Chinese government has implemented many advantageous regulations, including lowering the down payment requirement for second home loans and exempting ordinary dwellings from sales tax. This aided the commercial housing market's rebound. This will have a beneficial impact on the market's growth over the predicted period.
Industry News
The major key players in the market are USG Zawawi Drywall LLC SFZ (Oman), Gyptec Iberica (Portugal), Knauf Middle East (Dubai), Supress Products, LLC (U.S.), Kingspan Group plc. (Ireland), Gulf Gypsum Co. (Qatar), Yoshino Gypsum Co., Ltd. (Japan.), National Gypsum Co. (U.S.), Taishan Gypsum Co. (China), Saint - Gobain Gyproc India Ltd (India), Etex Group (Belgium), and Lafarge Group (France). Because of recent changes and period developments such as mergers and acquisitions, the drywall and gypsum board market value is expected to climb to the estimated revenue for the current forecast period.
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