NEW YORK , Jan. 20, 2022 /PRNewswire/ -- The latest drywall and gypsum board market report by Technavio infers that the growing demand from the construction sector is driving this market's growth.
Resulting in market growth of USD 21.76 billion from 2021 to 2026, read additional information about the drywall and gypsum board market, Get FREE sample report.
Vendor Landscape The drywall and gypsum board market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
American Gypsum, Compagnie de Saint-Gobain SA, Etex NV, Global Mining Co. LLC, Gypsemna Co. LLC, Kingspan Group Plc, Knauf Gips KG, LafargeHolcim Ltd., National Gypsum Co., and Yoshino Gypsum Co. Ltd. among others. among others are some of the few key vendors competing to maintain their market position in the market.
Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the furniture industry. For instance, In November 2021 , Kingspan Group Plc partnered with GOAL to support projects in their communities that are aligned with the Planet Passionate ambition of creating a world that is powered by renewable energy, net-zero carbon, manages water sustainably, and protects the Earth's valuable resources.
View more about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings.
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Regional Market Outlook APAC will contribute to 55% of the market growth during the forecast period. The growth of this region can be attributed to the rising number of infrastructure and construction activities, particularly in the emerging economies of the region. Owing to the rapid industrialization and urbanization in the region, countries including India , China , Japan , Indonesia , Malaysia , and Thailand are experiencing high demand for residential, commercial, and industrial buildings.
Furthermore, government investments in infrastructural developments also display the growth opportunities of the drywall and gypsum boards market in APAC. Favorable government policies and regulations, the availability of inexpensive resources and skilled workforce, and minimum operational and labor costs are some other factors driving many globally established organizations, particularly from the manufacturing sector, to set up their production facilities and R&D centers in APAC, which, further will fuel the drywall and gypsum board market growth in the forthcoming years.
Apart from regions, if we look at the country-wise market growth, the US and UK will contribute to the market growth significantly owing to the urbanization and advancements in these developed economies.
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Latest Trends, Driving the Global Drywall and Gypsum Board Market
Drywall and gypsum boards are used interchangeably with natural gypsum. One of the most important industries that use drywall and gypsum boards is the commercial and infrastructure sectors. Furthermore, the global urban population is likely to grow by around 68% by 2050. This will further increase the need for infrastructure expansion or renovations to accommodate the needs of the ever-growing population. Many construction activities are currently being planned and executed in developing economies such as India , China , and Indonesia . Thus, the growth in construction activities is likely to trigger the demand for drywall and gypsum boards that will propel the market during the forecast period.
While processing any material, it is important to distinguish important characteristics that can impact the production processes and the final created product. Gypsum also requires testing on a case-by-case basis to guarantee quality results. It is abrasive in nature and therefore requires robust equipment with rugged pieces. It also faces issues such as dust and clumps during the production of pelletized and powdered gypsum. The material has a natural ability to harden and becomes lumped into a cement-like structure, which makes removing the material from processing equipment difficult.
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Drywall and Gypsum Board Market Scope
Accelerate at a CAGR of 8.15%
APAC, North America, Europe, MEA, and South America
US, China, Japan, India, and UK
Leading companies, Competitive strategies, Consumer engagement scope
American Gypsum, Compagnie de Saint-Gobain SA, Etex NV, Global Mining Co. LLC, Gypsemna Co. LLC, Kingspan Group Plc, Knauf Gips KG, LafargeHolcim Ltd., National Gypsum Co., and Yoshino Gypsum Co. Ltd.
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
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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 across 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.
Contact 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
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