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The Asia-Pacific plasterboard market size is estimated to increase by USD 3.63 billion and grow at a CAGR of 8.11% between 2023 and 2028. The construction industry is experiencing a significant surge due to rapid urbanization and increased construction activities, complemented by the expansion of the retail sector. The market is further bolstered by the growing preference for dry construction techniques. However, challenges arise from the fluctuating prices of raw materials and the prevalence of numerous local vendors, creating market volatility. Additionally, stringent regulations regarding the usage pose regulatory hurdles, contributing to the market's complexity. Moreover, stiff competition from alternative construction products adds to the industry's challenges. Despite these obstacles, the market continues to evolve, driven by innovative solutions and technological advancements aimed at addressing sustainability concerns and meeting the dynamic demands of urban development and retail expansion.
Market Forecast 2024-2028
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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 4.19 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 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. 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.
The demand for plasterboard in the infrastructure sector is on the rise, driven by factors such as urbanization, infrastructure investments, and a growing need for fire-resistant building materials. Plasterboard, known for its lightweight properties and strength, is essential for various building projects, including residential construction and the redevelopment of shantytowns. However, challenges such as a lack of awareness and waste plasterboard management need to be addressed. The industry is responding with innovations like plasterboard fluidizers and lightweight plasterboards. As the construction sector adapts to a rebalancing economy and an aging population, plasterboard manufacturers are focusing on developing products with additives to enhance performance and durability, ensuring a sustainable and resilient built environment.
In the construction industry, the demand for fire-resistant building materials like plasterboard is increasing due to safety regulations and a focus on risk mitigation. Plasterboard, commonly used as drywall, gypsum board, or gypsum panel, offers fire-resistant properties, making it essential for various building projects. However, challenges such as acoustic weakening, especially in multi-story buildings, need to be addressed to ensure sound insulation and structural integrity. Additionally, factors like obtaining building permits and managing the weight of plasterboard materials are critical considerations in construction planning and execution. To enhance performance, lining paper is often used with plasterboard to improve durability and aesthetics while meeting regulatory standards for fire safety and acoustic performance. Efficient collaboration among workers, architects, and engineers is crucial for successful implementation and compliance with building codes and regulations. 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.
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 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 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 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 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.
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 market research report provides comprehensive data (region wise segment analysis), with forecasts and estimates in "USD Million" for the period 2024 to 2028, as well as historical data from 2018 to 2022 for the following segments
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The market in APAC is experiencing significant growth, propelled by several factors such as the rise in residential construction, demand for fire resistant building materials, demand for Environment friendly products, demand for Recycled material, plasterboard demand, investment in housing, infrastructure investments, and the expansion of modern retail. However, challenges persist, including the lack of awareness about plasterboard fluidizers, Fire resistance, and the need for fire-resistant building materials. Moreover, issues such as waste plasterboard and the aging population add complexity to the market dynamics. Despite these challenges, there is a growing demand for lightweight plasterboards and environmentally friendly products. Sustainable construction practices, coupled with investments in affordable housing, are reshaping the real estate industry in the region.
Plasterboard manufacturers are innovating with acoustic plasterboards and soundproof solutions to meet the demands of modern construction projects in APAC. The market in APAC is a vital component of the construction sector, catering to diverse building projects ranging from residential to infrastructure developments. With a focus on fire-resistant building materials, demand for plasterboard is fueled by the need for sturdiness and fire protection. Moreover, in the context of a rebalancing economy, investments in rail and road infrastructure and social housing are driving market growth, addressing housing shortages and shantytown redevelopment. Plasterboard, known for its lightweight properties, contributes to sustainable construction methods with its environment-friendly products, including recycled materials. As the region grapples with natural disasters like hurricanes and wildfires, the industry is witnessing innovations in soundproof plasterboard and fire-resistant solutions to ensure safety and resilience in construction projects.
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 forecasting, 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 market forecast period. |
Customization purview |
If our market 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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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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