Global Drywall and Building Plaster Market: Overview
Drywall refers to panels made from gypsum plaster pressed between thick sheets of paper. They are used to make ceilings or walls. Drywall construction has emerged as a speedier alternative to the traditional plaster. Rapid expansion of construction activities worldwide is giving impetus to the global market for drywall and building plaster. With the number of construction firms across countries projected to increase, the innovation of drywall-based construction techniques is likely. This in turn is expected to give a major boost to the market for drywall and building plasters.
The drywall and building construction market is broadly classified into residential and non-residential, based on end user. Of these, the demand from the residential sector is the highest, Regionally, the global drywall and building plaster market can be segmented into Asia Pacific, North America, Europe, and Rest of the World. Increasing demand from the construction industry in China and the U.S. is offering a significant boost to the drywall and building plaster market.
The report presents a comprehensive overview of the growth trajectory exhibited by the global drywall and building plaster market. It studies in detail the various factors influencing the market’s growth trends. The most lucrative regional markets for drywall and building plasters are identified in the report to aid enterprises in determining future growth strategies.
Global Drywall and Building Plaster Market: Key Opportunities and Threats
The U.S. and China are expected to dominate the global market for drywall and building plasters. These countries are projected to account for the largest share in the overall demand generated for drywall between 2016 and 2023. Additionally, product sales in the U.S. are expected to grow at an impressive rate during this period. After witnessing a slight decline in demand in the U.S. during 2006 and 2011, the drywall market in the country exhibited robust growth post the economic rebound.
The rapidly increasing nonresidential building construction sector in the U.S. will give an impetus to the demand for drywall and building plasters in the country. In China as well, the market for drywalls and building plasters is expected to expand at an impressive pace. This growth will be aided by the rising construction activities in China.
Other countries that are projected to show lucrative prospects for the drywall and building plasters market include India, Thailand, Mexico, Turkey, and Saudi Arabia. Increasing demand for urban housing will boost expenditure on residential building constructions in these countries, consequently propelling the market for drywall and building plasters. Going forward, local companies operating in the construction market in these countries will increase their spending on modern building materials. Thus, the demand for drywall and building plasters is anticipated to rise exponentially in the coming years.
Global Drywall and Building Plaster Market: Regional Outlook
Regionally, North America and Europe will emerge as two of the most lucrative markets for drywalls and building plasters. The market is poised to report above average growth in Asia Pacific, Latin America, Eastern Europe, and the Middle East and Africa. The use of drywall in residential construction is expected to increase due to its rising popularity. This is likely to be a key factor bolstering demand for drywalls and building plastics from these regions.
Global Drywall and Building Plaster Market: Vendor Landscape
To study the prevailing vendor landscape in the market, the report profiles some of the most prominent enterprises operating in the global drywall and building plasters market. These include companies such as Saint-Gobain (France), BNBM (China), Etex (Belgium), and others. The report evaluates the strengths and weaknesses of these companies and identifies the threats and opportunities that they are expected to face during the forecast period.
The companies profiled in the report are studied on the basis of their product portfolio, financial overview, strategies adopted, and development status.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.