Plasterboards are gypsum based boards used extensively in the commercial, domestic, and industrial constructions. Application of plasterboards is advocated to improve the aesthetics of a commercial or residential complex such as hotels, offices, and other sophisticated infrastructures. As per the Hospitality Net, the U.S. hotel industry revenues was estimated at around $208 billion in 2017, which was a significant increase from the previous year’s revenue. Taking this instance into account, the hotel industry is augmented to accommodate huge profits for the plasterboards market in the near future. According to Market Transformation Programme Supporting U.K. Government Policy on Sustainable Products, about 60% of gypsum is consumed in the U.K. for the manufacturing of plasterboards which is around 3 million tonnes of the total 5 million tonnes consumed.
Ceiling plasterboards, gypsum panels, gyprock, drywall, gypsum boards, or wallboards are a panel made of calcium sulphate dehydrate (gypsum). These gypsum layers are used in the construction of interior walls and pre-decorated plasterboards. The tremendous uptake of construction in both the developing and developed economies is expected to thrive the demands for the plasterboards market.
According to a recent IndustryARC market research report, the global plasterboards market value hovered around at around $19,754 million as of 2018. And, as per the ongoing trend, the market size is anticipated to expand at a positive CAGR of 4.6% during the forecast period of 2019 to 2025. The construction of walls among other end-user industry applications is the most profitable segment in the plasterboards marketplace and is expected to flourish at a positive CAGR of 4.9% during the aforementioned forecast period.
According to the World Bank Group, almost 75% of the infrastructure that will exist in 2050 is yet to be built and the construction industry is only expected to expand owing to the increasing population and urbanization. Considering the geographical distribution, the Asia-Pacific region grabbed the largest market share for the plasterboards market with a market share of more than 36% as of 2018. Application of plasterboard is gaining popularity in developing nations such as India. India is employing plasterboards rigorously owing to its economical and rapid construction methods.
The information presented is deduced from the report titled “Plasterboard market: by type (standard, fire-resistant, and others); by form (tapered-edged, square-edged, and others); by application (walls, ceilings, and others); by end user (residential building, commercial building, and others); by trends; & by geography (North America, South America and others) forecast (2019-2025).”
Plasterboards Market Companies: Recent Developments
Some of the key players influencing the global market are:-Armstrong World Industries Inc., Etex Group, Saint-Gobain SA, Georgia Pacific LLC, and Gypsum Management and Supply Inc.
Armstrong World Industries Inc
The Armstrong World Industries (AWI) is the U.S. based construction firm. The company is the leader in the manufacturing and designing of innovative residential and commercial ceiling and wall system solutions. The company owns around 26 facilities and 9 plants around the world which helped the company to achieve $238.9 million market sales in the year 2018, with an 11% increase from the preceding year 2017. The U.S. Green Buildings Council in an association with the Armstrong World Industries is committed for a sustainable and prosperous future by developing ecological construction methods through the application of versatile gypsum products used in the walls and ceilings of the buildings.
USG is one of the leading manufacturers of building products and innovative solutions for more than a decade. The company offers numerous aesthetic and innovative building solutions for commercial, industrial, and residential infrastructure. In the year 2017, the company celebrated the 100th anniversary of the USG’s Sheetrock brand, the iconic product developed by the company that revolutionized the interiors of infrastructure with features such as fireproof and lightweight walls.
Plasterboards are gypsum based boards used in the construction of interiors of an infrastructure. Other than improving the appearance of the infrastructure, the application of plasterboards bears economical costs to the construction companies. The plasterboards market is expected to increase at a significant rate owing to the proliferating construction witnessed in the developing regions.
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