Press release
Plasterboards Market is Projected to Increase at 5.7% CAGR to Reach US$ 46.3 Billion by 2033
Plasterboard Market
Plasterboards are commonly used in frame structures as interior wallboards and ceiling lining due to their ability to reduce noise transmission and come in different sizes and thicknesses. With the ongoing global urbanization, the industry foresees significant growth in the coming years.
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The plasterboard market is primarily driven by the booming construction industry, which values its superior workmanship, affordability, and easy installation.
Plasterboard is highly suitable for use in bathrooms and kitchens due to its resistance to moisture, and impact, as well as its insulation properties for sound and heat. As urbanization continues to accelerate worldwide, demand for plasterboards is expected to increase substantially in the near future.
The market is expanding due to increased demand for fire-resistant building materials and dry construction techniques. The market for low-weight plasterboards is expected to create new lucrative opportunities, but the growth of the plasterboard market is currently limited due to factors such as inadequate availability and lack of awareness.
Key Takeaways from Market Study
• The global plasterboard market is valued at US$ 26.65 billion in 2023.
• Demand for plasterboards is projected to increase at a CAGR of 5.7% during the forecast period (2023 to 2033).
• Sales of plasterboards are estimated to reach US$ 46.3 billion by 2033.
• The United States accounts for 29% market share in 2023.
• Demand for plasterboards in Germany is anticipated to rise at a CAGR of 2.8% through 2033.
" Expansion of the real estate sector and government initiatives promoting the use of sustainable and recyclable materials in construction are fueling the sales of plasterboards", says a Fact.MR analyst.
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Competitive Landscape
Plasterboard manufacturers are increasingly interested in expanding their global reach by utilizing tactics such as targeted marketing and key initiatives. These companies are now looking to manage specific operations in countries with favorable regulations, which allows them to reduce costs while still retaining industry specialists for each crucial phase of their businesses. This trend is becoming more noticeable as companies seek to establish a stronger presence in international markets.
• In October 2021, Bullfix, a prominent competitor in the industry, announced its latest plasterboard fastening. This new product is expected to offer faster, stronger, and more efficient solutions for attaching heavy objects to plasterboard walls, without requiring any additional tools within the wall cavity.
• The USG Boral Building Products Pvt Ltd and Knauf Group signed an acquisition agreement in February 2022 with the aim of improving the supply of various plasterboards, compounds, cornices, and related products.
Winning Strategy
Leading manufacturers of plasterboards are focusing on increasing manufacturing capacities to introduce plasterboards with higher strength and durability. These companies are investing in research and development to create boards with unique designs and textures that are specifically tailored for interior aesthetic purposes.
Plasterboards are becoming more popular among end users due to their ease of installation and replacement. The market for plasterboards is also witnessing significant demand owing to the advancements in extrusion and processing technologies.
Key Segments of Plasterboard Industry
• By Form:
o Squared-edge
o Tapered-edge
• By Type:
o Damp-proof Plasterboard
o Fire-resistant Plasterboard
o Impact-resistant Plasterboard
o Insulated Plasterboard
o Moisture-resistant Plasterboard
o Sound-insulated Plasterboard
o Standard Plasterboard
o Thermal Plasterboard
• By End Use:
o Residential
o Non-residential
• By Region:
o North America
o Latin America
o Europe
o Asia Pacific
o Middle East & Africa
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