Press release
Canada Drywall Market Size, Share, Trends and Industry Forecast 2024-2032
Canada Drywall Market
According to the report by Expert Market Research (EMR), the Canada drywall market size reached a value of nearly USD 1,308.90 million in 2023. Aided by the robust growth of the construction sector, the market is projected to grow at a CAGR of 6.6% between 2024 and 2032 to reach a value of around USD 2,184.25 million by 2032.
Drywall, also known as gypsum board, is a staple in building materials, primarily used for constructing walls and ceilings in residential and commercial structures. Its properties, such as ease of installation, cost-effectiveness, and excellent fire resistance, make it a preferred choice in the construction sector.
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Drywall plays a crucial role in the modern construction industry due to its time efficiency and aesthetic versatility. It is an essential component in creating partitions and is extensively used in the interior finishing of buildings. The Canada drywall market growth is largely driven by the booming construction industry, particularly in urban areas where there is a high demand for residential and commercial spaces.
Another significant factor contributing to the Canada drywall market expansion is the increasing trend toward sustainable construction practices. With environmental concerns on the rise, the demand for green and sustainable building materials is escalating. Manufacturers are increasingly focusing on producing eco-friendly drywall products, which include recycled materials and offer enhanced energy efficiency in buildings.
The Canadian housing market's recovery, post-economic slowdown, has also played a pivotal role in the increased demand for drywall. The resurgence in housing construction, driven by governmental initiatives to boost infrastructure development and provide affordable housing, is expected to further propel the Canada drywall market growth. Additionally, the renovation and remodelling sector adds to the growing demand, as homeowners seek to upgrade and enhance their living spaces.
Beyond residential and commercial construction, drywall finds applications in speciality sectors such as moisture-resistant products for bathrooms and fire-resistant walls for safety-critical environments. Technological advancements have led to the development of lightweight and soundproof drywalls, enhancing their functionality, and broadening their application scope. This is one of the key Canada drywall market trends.
Manufacturers are also innovating in product compositions to improve the overall performance of drywall. For instance, the incorporation of additives to enhance mould resistance and the development of flexible drywall products for curved constructions are notable innovations that meet specific consumer demands. This is expected to drive the Canada drywall market development.
Despite the robust growth, the Canada drywall market faces challenges such as fluctuating raw material prices and the need for skilled labour for precise installation. However, these challenges also present opportunities for market players to innovate in cost-effective production techniques and offer training programmes to enhance labour skills.
The ongoing shift towards sustainable building practices provides a significant opportunity for drywall manufacturers to innovate and capture a niche market. Products that contribute to building energy efficiency and are made from sustainable or recycled materials are likely to see increased demand.
The Canada drywall market exhibits notable regional variations, with urban centres like Toronto, Vancouver, and Montreal driving the bulk of the demand. These metropolitan areas, known for their robust construction activity, are pivotal to the market's growth due to rapid urbanisation and the influx of population. The development of high-rise residential buildings and commercial spaces in these regions contributes significantly to the overall consumption of drywall.
In addition to the major cities, there's a rise in construction activities in suburban and rural areas, partly driven by government initiatives aimed at promoting regional development. This decentralisation of construction projects is helping to sustain the demand for drywall across the country.
As the Canada drywall market continues to grow, driven by the construction boom and a shift towards sustainable building practices, it presents numerous opportunities for participants. By leveraging technological advancements and addressing environmental concerns, companies in the market can expand their market footprint and contribute to the overall growth of the construction industry in Canada. With strategic investments in product innovation and sustainability, the future of the Canada drywall market looks promising as it moves towards 2028.
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Canada Drywall Market Segmentation
The market can be divided based on type, application, and region.
Market Breakup by Type
Standard
Fire-Resistant
Mould/Moisture Resistant
Market Breakup by Application
Residential
Commercial
Market Breakup by Region
Northern Canada
British Columbia
Alberta
The Prairies
Central Canada
Atlantic Canada
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Canada drywall market. Some of the major players explored in the report by Expert Market Research are as follows:
CGC Inc.
CertainTeed
Georgia-Pacific LLC
Gold Bond Building Products, LLC.
Envirowall Partition Systems Limited
Armstrong World Industries, Inc.
Others
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