Plasterboards are essentially used in frame constructions as internal wall boards such as ceiling lining, for various purposes like preventing noise transmission. These are available in different sizes and thickness. The market is expecting a significant growth in the near future due to rapid urbanization around the globe.
COVID-19 Impact analysis
- COVID-19 pandemic has shut down the production of various products in the plasterboard industry attributed to the lockdown in countries worldwide. This has hampered the growth of plasterboard market in 2020 and, is likely to revive in 2021.
- COVID-19 has already affected the sales of plasterboard in the second and third quarter of 2020 and is reviving in 2021.
- The major demand for plasterboard was previously noticed from countries including the U.S., Germany, Italy, UK, and India, which are negatively affected by the spread of the corona virus, thereby declining the demand for plasterboard.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Plasterboard manufacturers can afford a full lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID-19 health crisis.
- Plasterboard manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distancing, as well as ensuring the vaccination of every employee in the company can assist in promoting the health & safety of the workforce.
Top Impacting Factors
Rapid growth of construction sector is the key driver for the market growth of plasterboards. Demand for plasterboards has witnessed an increase from the construction sector due to high quality, low cost, and easy installation. Plasterboard offers unique properties like heat and sound insulation, impact resistance, and moisture accumulation resistance in bathrooms and kitchens. These factors are the key drivers in the market growth. Rise in demand for dry construction methods and fire resistant material for construction boost the growth of the market. Emerging light weight plasterboards are expected to create new opportunities in the global market. Lack of awareness and low availability are the factors which restrain the market growth of plasterboards.
- Highest growth of plasterboard market is expected in the Asia-Pacific region due to expanding house construction market in China and India.
- Housing for All by 2022 initiative taken by government of India is expected to drive the market of plasterboards.
- In order to provide social housing to migrants, China initiated a project named Urbanization is expected to boost the market of plasterboards in china.
- Increase in middle class population with their disposable income, has boost the market of middle class housing segment and expected to boost the market of plasterboards.
- According to National Statistics Bureau of China, there is a significant rise in numbers of households sold in year 2020 as compared to 2019 which indicate the growth in construction industry.
Key Benefits of the Report
- This study presents the analytical depiction of the plasterboard market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the plasterboard market share.
- The current market is quantitatively analyzed to highlight the plasterboard market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed plasterboard market analysis based on competitive intensity and how the competition will take shape in coming years.
Plasterboard Market Report Highlights
By Form Type
By End-User industry
Key Market Players
Georgia Pacific LLC, Armstrong World Industries Inc., KNAUF Gips KG, Boral Ltd., Gypsum Management and Supply, Inc., Etex Group, Saint-Gobain S.A., National Gypsum Company, Fletcher Building Ltd., USG Corporation, LafargeHolcim Ltd.