Gypsum-based Products Market
Gypsum-based Products Market (Plaster System: Manually-applied Plaster, Machine-applied Plaster, and Finishes; Raw Material: Natural Gypsum and Synthetic Gypsum; Product Type: Plaster, POP, Wall Putty, Gypsum Panel, and Rapid Wall; and End Use: Residential and Non-residential) - Global & India Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020 - 2030
Press Release :
Significant Rise in Number of Construction Projects Worldwide to Aid Market Growth
Over the past few decades, the construction sector has witnessed notable growth, particularly in the developing regions of the world. In addition, apart from the influx of new construction projects across industrial, residential, and commercial sectors, awareness pertaining to the different materials and the onset of new construction techniques have played an imperative role in redefining the construction sector in recent years. Moreover, the entry of new materials in various forms due to additional research and development activities has led to the construction of superior buildings, thus providing a considerable boost to the construction industry.
As construction contractors, architects, and other stakeholders are increasingly focusing on improving the overall quality of projects, the adoption of gypsum-based products has witnessed considerable growth. As the number of construction projects continues to move in the upward trajectory, along with it, the global demand for gypsum-based products has witnessed consistent growth - a leading factor that is expected to boost to the overall growth of the global & India gypsum-based products market during the forecast period. The superior quality provided by gypsum-based products mainly for interior construction is a major factor that is projected to propel the global & India gypsum-based products market during the assessment period.
To gauge the scope of customization in our reports Ask for a Sample
At the back of these factors, along with the evolving nature of the construction industry, the global gypsum-based products market is expected to reach a market value of ~US$ 560 Mn by the end of 2030. This market in India is projected to reach US$ 30 Mn by 2030.
Innovations and New Trends across the Construction Industry to Bolster Market Growth
Innovations and technological advancements are set to play an imperative role in shaping the growth of the global & India gypsum-based products market during the assessment period. New trends, widening applications, and research are some of the other market drivers that are likely to have a strong influence on the growth of the global & India gypsum-based products market in the upcoming years. The widening applications of gypsum-based products, largely for interior construction is expected to fuel the adoption of gypsum-based products around the world.
Moreover, exceptional properties of gypsum wherein it can be shaped and molded with utmost ease and precision are factors generating considerable interest in gypsum-based products. The various benefits of using gypsum plaster, including ease of application, less settling time, zero curing time, and exceptionally smooth finish are some of the other major factors that are likely to drive the global & India gypsum-based products market.
Get an idea about the offerings of our report from Report Brochure
At present, a range of gypsum-based products is available in global and Indian markets that cater to current practical and aesthetic requirements. Leading manufacturers operating in the current global & India gypsum-based products market are increasingly offering a range of unique packages with online as well as offline assistance to their customers to gain a competitive edge in the current market landscape. In addition, as digitalization continues to spread its wings across a host of industrial domains, market players operating in the current global & India gypsum-based products market are focusing on offering their products on online platforms to increase sales and establish a solid brand presence.
COVID-19 Pandemic to Impact Demand for Gypsum-based Products
The onset of the novel COVID-19 pandemic is expected to have a strong impact on the global & India gypsum-based products market particularly in 2020. The demand for gypsum-based products is likely to remain lower than usual due to the shutdown of the industrial sector in various regions of the world and restriction on cross-border trade and transportation. In addition, a considerable decline in the number of construction projects around the world is another major factor hindering the growth of the global & India gypsum-based products market. In addition, barriers across the supply chain coupled with the uncertainty in the demand for gypsum-based products during the pandemic are anticipated to affect the prospects of the global & India gypsum-based products market during the ongoing COVID-19 situation.
Looking for Regional Analysis or Competitive Landscape in Gypsum-based Products Market, ask for a customized report
The growth of the global & India gypsum-based products market is expected to be driven by rise in the number of construction projects, advancements in technology, increasing awareness pertaining to the benefits and potential of different raw materials, favorable properties of gypsum for indoor construction, etc. Market players should focus on expanding their production capabilities and offering their products on online portals to increase sales and market presence.
Gypsum-based Products Market: Overview
- Gypsum, a hydrated calcium sulfate, is white or pale yellow in color, depending on its source. It is a major source material used in the manufacturing of a wide range of gypsum-based products such as plaster, pop, wall putty, gypsum panel, and rapid wall.
- Gypsum plaster is produced with high purity gypsum and processed in fully automated machinery to obtain a high-quality final product. Gypsum plaster is further blended with special additives and retarders to make it suitable for gypsum plastering. Special retarders added in gypsum plasters increase the working time for plastering (setting time from 15 minutes to 25 minutes), thereby reducing wastage in bucket and spillage during application (maximum wastage 5%). Saint-Gobain’s Gyproc brand of gypsum plasters with special additives are lightweight and increase productivity by 20%.
- Based on raw material, the market has been bifurcated into natural and synthetic gypsum. In terms of volume, the share held by the synthetic gypsum segment is expected to increase at a rapid pace. The segment is projected to expand at a notable CAGR by the end of the forecast period. Synthetic gypsum is often utilized as a substitute to natural gypsum. Furthermore, its low cost of manufacturing is replacing natural gypsum, globally. It is primarily produced as a byproduct of industrial processing and offers the same characteristics as that of natural gypsum. Furthermore, it is environment-friendly. All these factors have fueled the consumption of synthetic gypsum, globally.
Key Drivers of Gypsum-based Products Market
- Rise in population and number of middle class consumers and significant expansion of the building & construction industry in developed and developing countries have led to a rise in the demand for gypsum-based products, globally. Beneficial properties of gypsum-based products are expected to drive the demand for these products across the globe in the near future. Gypsum-based products, such as gypsum plaster, are completely free from shrinkage cracks, owing to their self-setting properties. Shrinkage cracks generally occur in sand-cement plaster due to sudden changes in moisture content of the concrete. The water curing process is mandatory for 20 to 21 days in order to reduce shrinkage cracks in sand-cement plaster and control heat in concrete. Water curing is labor intrinsic and time consuming. Gypsum-based wall putty is increasingly being used to provide smooth and uniform interiors for repainting of walls. In simple terms, wall putty is a white gypsum-based fine powder that can be turned into a smooth mixture and applied to walls before painting. Shortening of the repainting cycle (from six -eight years to three-three and half years) is estimated to boost the demand for gypsum-based wall putty, as removal of the original paint from the wall requires scrubbing. This leaves the wall with pores, an uneven surface, and dampness. Plaster of Paris offers high durability, good adhesion onto the substrate, shine & smoothness, low thermal conductivity, and fire resistance.
- Rise in demand for energy-efficient and eco-friendly products to decrease CO2 emission has boosted the demand for construction materials that consume less energy. Increase in demand for energy-efficient buildings has led to a rise in the demand for rapid wall.
Asia Pacific to Dominate Gypsum-based Products Market
- In terms of volume, Asia Pacific accounted for a leading share of the global gypsum-based products in 2019, due to a rise in investments by governments of countries such as China, India, and Thailand in the construction sector of their respective countries. Furthermore, increase in renovation activities across China and India is also anticipated to drive the demand for gypsum-based products in Asia Pacific in the near future.
- Based on various states of India, Maharashtra held a prominent share of the gypsum-based products market in India. Presence of major manufacturing giants such as Saint-Gobain S.A. is expected to drive demand for gypsum-based products across the state. Additionally, Maharashtra is a major state in terms of contribution to the India’s GDP. The state is home to major builders of India such as Godrej & Boyce Mfg. co. Ltd, OBEROI REALTY LIMITED, Kalpataru Limited, Piramal Realty Private Limited, Lodha Group, Mahindra Lifespace Developers Ltd., and Hiranandani Constructors Private Limited. All these factors are expected to drive the demand for gypsum-based products across Maharashtra in the near future.
Leading Players Operating in Gypsum-based Products Market
- Major players operating in the gypsum-based products market across the globe and India include
- Saint-Gobain S.A
- Knauf Gips KG
- Global Gypsum Company Ltd.
- Escayescos, SL
- USG Corporation
- James Hardie Industries plc.
- Georgia-Pacific Gypsum II LLC
- YOSHINO GYPSUM CO.,LTD.
- Kingspan Group.
- These manufacturers are primarily engaged in product launches to increase their footprint in the market.
Gypsum-based Products Market – Scope of the Report
A latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global & India gypsum-based products market to accurately gauge its potential future development. The study presents detailed information about the important growth factors, restraints, and key trends that are creating the landscape for the future growth of the gypsum-based products market, to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the gypsum-based products market would progress during the forecast period of 2020-2030.
The report offers intricate dynamics about the different aspects of the gypsum-based products market that aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on the significant changes that are highly anticipated to configure the growth of the gypsum-based products market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the gypsum-based products market, and estimate statistics related to the market progress in terms of value (US$ Thousand) and volume(Kilo Tons).
The report mentions company profiles of key players that are currently dominating the gypsum-based products market, wherein, various development, expansion, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Gypsum-based Products Market
The report provides detailed information about the gypsum-based products market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the market. Information mentioned in the report answers path-breaking questions for companies that are currently functioning in the market and are looking for innovative ways to create a unique benchmark in the gypsum-based products industry, so as to help them make successful strategies and take target-driven decisions.
- Which raw material is likely to generate the highest revenue by 2030?
- Which plaster system of gypsum-based products is expected to grow at fastest pace by the end of 2030?
- Which end use segment is the major consumer of gypsum-based products?
- How much revenue is the gypsum-based products market in India expected to generate by the end of the forecast period?
- How are key market players successfully earning revenue out of the advantages of gypsum-based products?
- What all companies operate across the globe?
- What are the indicators expected to drive the gypsum-based products market?
- Which state of India will hold major share of the market?
Research Methodology – Gypsum-based Products Market
The research methodology adopted by analysts for combining the gypsum-based products market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the industry-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the gypsum-based products market.
During the primary research phase, analysts interviewed industry stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. On the basis of data obtained through the interviews of genuine resources, analysts have emphasized the changing scenario of the gypsum-based products market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, industry association publications, and company websites to obtain the necessary understanding of the gypsum-based products market.
Gypsum-based Products Market – Segmentation
TMR’s research study assesses the gypsum-based products market on the basis of raw material, plaster systems, product type, end use, and region. This report presents extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the gypsum-based products market.