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The Asia-Pacific (APAC) - plasterboard market size is estimated to grow at a CAGR of 8.11% between 2023 and 2028. The market size is forecast to increase by USD 3.63 billion. The growth of the market depends on several factors, including the development of advanced plasterboard materials, the growing demand for green construction, the rising demand for mobile homes, and effective space utilization. Our report examines historical data from 2018-2022, besides analyzing the current market scenario.
This report extensively covers market segmentation by type (square-edged and tapered-edged) and end-user (residential and non-residential). It also includes an in-depth analysis of drivers, trends, and challenges.
APAC Plasterboard Market Forecast 2024-2028
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Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a disruption in the growth of the market during the COVID-19 pandemic, a holistic analysis of drivers, trends, and challenges will help companies refine marketing strategies to gain a competitive advantage.
The growth in the urban population has led to an upsurge in the construction of residential and commercial establishments. Plasterboard has become popular among all newly built residential establishments for enhancing the aesthetics of the interiors. Therefore, the growth in the number of commercial and residential buildings, coupled with rapid urbanization, is expected to fuel the growth of the Asia-Pacific (APAC) - plasterboard market.
Moreover, rapid urbanization necessitated the demand for building new commercial and residential establishments in countries across the world. The rise in construction projects is expected to increase the demand for several products that enhance the aesthetic appeal of the establishments, including plasterboard. This, in turn, is expected to foster the growth of the market during the forecast period.
Manufacturers of plasterboard are constantly concentrating on enhancing the technologies and characteristics of products to improve customer satisfaction. The rise in competition among global and regional APAC - plasterboard market players has paved the way for the development of innovative and high-quality plasterboards for enhancing aesthetic appeal and improving the user experience.
Furthermore, superior breaking strength, crisp edges with cleaner cuts, and ease of lifting are some of the major features associated with the product. Hence, its adoption is expected to increase for ceiling lining in residential establishments. Hence, the increasing focus of APAC - plasterboard market players on developing high-quality plasterboard is expected to boost the growth of the market during the forecast period.
Prominent players, including Knauf Gips, Compagnie de Saint-Gobain, and LafargeHolcim Ltd. (LafargeHolcim), experience fluxes in profit margins owing to the volatility in raw material prices and the rising competition among global and local Asia Pacific - plasterboard market players. Furthermore, cost-driven end-users prefer reasonable-priced plasterboards rather than investing in costly products manufactured by the global market players. Hence, volatility in raw material prices is one of the major challenges for players in the APAC - plasterboard market.
Furthermore, while designing plasterboard, plaster is mixed with fiberglass or fiber, foaming agent, plasticizer, and other additives that can reduce flammability, growth of fungus, and water absorption. Fluxes in the price of these materials also negatively impact the profitability of vendors. Hence, volatile raw material prices, coupled with the presence of local vendors, may hamper the growth of the market by decreasing the sales potential and revenue generation of global players during the forecast period.
The square-edged segment will account for a major share of the market's growth during the forecast period.?Square-edge plasterboard is a plasterboard with square edges, which consists of sheets with uniform, straight borders. The thickness of the panel extends consistently across its length, and when sheets with uniform and straight edges are joined together, then the joint formed is referred to as a butt joint. Square-edge plasterboard ceiling options are frequently preferred because the joints are more flush, which decreases their visibility.
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The square-edged segment was valued at USD 4.18 billion in 2018. Plasterboard with a square edge has several advantages over tapered edges, including being less expensive, simpler to install, and suitable for ceiling construction. Hence, due to such advantages, the growth of the square-edge plasterboard segment will observe positive growth, which, in turn, will boost the growth of the Asia Pacific - plasterboard market during the forecast period.
Based on end-user, the market has been segmented into residential and non-residential. The residential segment will account for the largest share of this segment.?Plasterboard is mainly preferred by residential end-users as an internal lining panel for ensuring strong, smooth, and long-lasting walls and ceilings. Ease of installation, low environmental impact, cost-effectiveness, resistance to fire, and ease of repair are some of the main features associated with plasterboard. Asia Pacific - plasterboard market players such as Chiyoda Ute Co. Ltd. (Chiyoda Ute), Fletcher Building Ltd. (Fletcher Building), Knauf Gips KG (Knauf Gips), CSR Ltd. (CSR), and Georgia-Pacific LLC (Georgia-Pacific) deliver a broad range of plasterboards for residential applications. Thus, these factors in residential applications will boost the growth of the market during the forecast period.
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
ATISKAN STRUCTURE AND INDUSTRIAL GYPSUM PRODUCTS INDUSTRY. VE TIC. Inc., BGC Australia PTY 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.
Technavio report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The APAC plasterboard market report forecasts market growth by revenue and analyzes the latest trends and growth opportunities from 2018 to 2028.
APAC Plasterboard Market Scope |
|
Report Coverage |
Details |
Page number |
148 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 8.11% |
Market growth 2024-2028 |
USD 3.63 billion |
Market structure |
Concentrated |
YoY growth 2023-2024(%) |
7.55 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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