Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Gypsum board is type of a material used in ceilings, walls and partitions in a building. The boards are produced by mixing gypsum with water in presence of some additives to form a semi liquid mixture, which is then fed to conveyor belts on a board machine in between continuous paper layers. The calcium sulphate produced in the mixture then recrystallizes on its way down the machine producing original rock state. The board is then cut into required lengths and design followed by drying to remove any moisture present.
The gypsum boards are highly used in construction activities owing to their light weight and adaptability to walls without beam structure. The properties of gypsum allows the gypsum to be molded into varied ceiling shapes and structures. There are mainly two types of gypsum boards available; natural gypsum boards and synthetic gypsum boards. The synthetic gypsum boards are produced by using flue-gas desulphurization process. On the back of their economics and environment friendly properties, they are highly preferred by manufacturers.
The global gypsum boards market is anticipated to record a CAGR of around 12% over the forecast period i.e. 2019-2027 owing to rise in residential sector and changing lifestyle of people across the world. The rapid industrialization has resulted in provision of better infrastructural facilities coupled with urbanization which is responsible for changing lifestyle of people with increased consumer spending capacity. The capacity of gypsum board to provide better quality and varied ceilings designs as compared to traditional cement and plasters is anticipated to hone the market growth. The gypsum board manufacturing cost majorly depends on the cost associated with raw materials, machine and transportation. The rise in production of synthetic gypsum boards owing to reduced costs and ease of manufacturing is anticipated to support the market growth.
The gypsum board market is segmented by product, type, application and thickness. The product type segment is further segmented into pre decorated board, wall board and ceiling board, out of which, the wall boards segment is anticipated to have leading shares of around 52% owing to their wide application in making surfaces, room interiors and partitions followed by pre-decorated board segment and ceiling boards. On the basis of application, the market is bifurcated into commercial, residential, institutional and pre-engineered metal buildings, out of which, the residential segment is anticipated to hold notable market share owing to rise in urban population and better purchasing power followed by pre-engineered metal building segment with growing industrial and commercial sector. CLICK TO DOWNLOAD FREE SAMPLE
The increasing awareness about gypsum boards that are efficient to use and provides high thermal and fire resistance coupled with numerous decorative applications and ease of availability are anticipated to impel the market growth. It is economical to produce these boards owing to ease of availability of low price raw material. Additionally, overall growth in construction sector is anticipated to support the growth of the market. The properties of gypsum, for instance, no shrinkage cracks, quick setting time, sound damping properties and excellent strength are expected to affect the market growth positively. Furthermore, the new innovations and development in the gypsum board production such as ECOPHIT, the gypsum board with graphite in it to provide better heat distribution and cooling effect are anticipated to positively affect the growth of the market in upcoming years.
Restraints
The taxation and duties imposed on the export and import of the gypsum material, price fluctuations of the product and gypsum’s properties where it cannot be used on outside walls and the areas with moisture as gypsum retains dampness and react with water resulting in soft walls and ceilings are some of the restraining factors that might hinder the growth of the market. Additionally, the limited shelf life and restrictions on storage conditions are anticipated to act as restraints to growth of the market.
Our-in depth analysis of the gypsum boards market includes the following segments:
• Pre-Decorated Board
• Ceiling Board
• Wall Board
• Commercial
• Residential
• Institutional
• Pre-Engineered Metal Buildings
• X-Type
• Regular Type
• ½ Inch
• 5/8 Inch
• Others
On the basis of regional analysis, the gypsum boards market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
The market in Asia-Pacific region is anticipated have major market share during the forecast period. The region is expected to have around 55% of global consumption owing to high product demand in residential and pre-engineered metal building construction segments. China being the major producer of gypsum products is anticipated to have leading market shares in the region. The favorable environmental conditions and the increased investments in the construction sector is estimated to fuel the market growth. The market in Middle East and Africa region is anticipated to witness significant growth owing to increased investment in infrastructure and construction sectors. The region being an attractive destination for new companies to set up, coupled with overall urban population growth is estimated to impact the market growth positively in the region.
The gypsum boards market is further classified on the basis of region as follows:
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