Gypsum Plaster Market
Gypsum Plaster Market (Plaster System: Manually-applied Plaster, Machine-applied Plaster, and Finishes; Raw Material: Natural Gypsum and Synthetic Gypsum; and End Use: Residential and Non-residential) - Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2030
- Chemicals & Materials
- 266 Pages
Booming Construction Sector in Asia Pacific to Boost Market Growth
The construction sector particularly in booming economic regions, including Asia Pacific and Middle East & Africa, has experienced exponential growth over the past couple of decades. The rise of the construction sector in these regions is largely attributed to economic growth, increasing government support, and a strong focus on modernization and infrastructure development. The growth of the construction sector is expected to have a direct impact on the overall growth of the global gypsum plaster market in the upcoming decade. Moreover, benefits offered by gypsum plaster over conventional water curing processes is one of the key factors expected to drive the gypsum plaster market during the forecast period.
Another key factor that is expected to play an influential role in driving the adoption of gypsum plaster is the environment-friendliness of the product. Gypsum plaster has emerged as a popular plastering choice among construction companies, and is increasingly being used to plaster internal surfaces. In addition, gypsum plaster offers exceptional acoustic and thermal properties due to which, the demand is expected to witness steady growth during the forecast period. Gypsum plaster is free from shrinkage cracks, fast tracks construction, and is nearly 50% lighter in weight compared to traditional sand-cement plaster. These factors are likely to propel the gypsum plaster market in the upcoming years.
At the back of these factors, along with increasing focus on research and development, the global gypsum plaster market is projected to reach ~US$ 600 Mn by the end of 2030. A surge in the number of residential and non-residential construction projects, increasing foreign direct investments, and encouraging government initiatives are anticipated to play an imperative role in fueling the demand for gypsum plaster, especially in the Asia Pacific region.
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New Engineering and Construction Techniques to Drive Demand
Technological advancements coupled with increasing investments in research and development have paved the way for innovative and cutting-edge engineering and construction techniques due to which, the demand for environment-friendly products, such as gypsum plaster has steadily grown. The increasing usage of special retarders and the introduction of new chemical combinations by several key players operating in the current gypsum plaster market are likely to fuel the growth of the market. In addition, surge in demand for lightweight construction materials and focus on minimizing the structural load of buildings is projected to provide an impetus for the growth of the global gypsum plaster market in the upcoming years. Market players operating in the gypsum plaster market are increasingly swaying toward upgrading their existing manufacturing infrastructure to launch high-quality gypsum plaster and minimize the production cycles to save costs. The entry of new and advanced machinery for the production of gypsum plaster is expected to play an essential role in the driving the gypsum plaster market during the assessment period.
While R&D, along with product development, is anticipated to gain momentum, several leading players involved in the current gypsum plaster market landscape are expanding their global presence by constructing new manufacturing facilities. For instance, in March 2018, Saint-Gobain announced that the company is set to launch India’s largest plasterboard manufacturing facility. The move was largely driven by anticipated growth of the construction sector in India. Similarly, several players in the gypsum plaster market are increasingly investing in developing regions to tap onto the existing and upcoming opportunities.
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Demand to Remain Lower than Initial Projections amid COVID-19 Pandemic
The onset of the COVID-19 pandemic is expected to have a strong impact on the global gypsum plaster market in 2020. As the construction sector gradually recovers from the sluggish first two quarters of 2020, due to stringent lockdown measures, restrictions on transportation, etc., the demand for gypsum plaster is projected to grow at a consistent pace in the upcoming months. The decline in the number of construction projects or delays and postponement of several existing projects is a major factor projected to have a negative impact on the gypsum plaster market in 2020. However, as operations across several core industries gradually return to normalcy, a construction boom across the Asia Pacific region is anticipated, mainly in the COVID-19-free era due to which, the demand for gypsum plaster is expected to grow at a steady rate beyond the last quarter of 2020.
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The global gypsum plaster market is anticipated to grow at a moderate CAGR of 3.5%, in terms of volume, during the forecast period. The market growth is largely driven by the booming construction sector in developing regions, favorable functional and physical properties of gypsum plaster over traditional cement plastering, increasing support from governments, and advancements in technology. Market players should focus on expanding their production capacity and expanding their presence in the upcoming markets to consolidate their market share.
Gypsum Plaster Market: Overview
- Gypsum plaster is formulated with the addition of various additives to enhance the setting profile of the plaster. Gypsum plaster is commonly applied onto internal bare brick walls, RCC ceilings, and hollow and concrete blocks. Prominent raw materials utilized in the production of gypsum plasters are mined natural gypsum or synthetic gypsum. Once natural gypsum is obtained from mines or via the synthetic route, it is broken up and crushed. Subsequently, crushed gypsum mineral is fired at low temperatures up to nearly 150°C to form calcined gypsum. Furthermore, additive and retarders are added to gypsum plaster to delay the setting.
- Based on raw material, the global gypsum plaster market can be bifurcated into natural gypsum and synthetic gypsum. The natural gypsum segment is expected to dominate the global gypsum plaster market in 2019. The synthetic gypsum segment is anticipated to offer lucrative opportunities by the end of the forecast period.
- Synthetic gypsum is often used as a substitute to natural gypsum. Furthermore, its low cost of manufacturing is helping it replace natural gypsum in the production of gypsum plaster. It is primarily produced as a by-product of industrial processing and offers same characteristics as that of natural gypsum. Furthermore, it is environment-friendly. These factors have boosted the consumption of synthetic gypsum across the globe.
Key Growth Drivers of Gypsum Plaster Market
- Gypsum plaster offers excellent thermal and acoustic characteristics by offering smooth finishing onto the surface of the walls. Furthermore, gypsum plaster offers low thermal conductivity; hence, it maintains pleasant temperature inside the building structure.
- Saint-Gobain S.A.’s Gyproc brand of gypsum plaster is formulated with special additives to make it lightweight and enhance productivity of the gypsum plaster by 20%. Thus, addition of additives and retarders helps reduce the dead load on the building structure, thereby propelling its demand as compared to that of conventional plastering materials such as sand cement plaster. This is estimated to drive the demand for gypsum plaster in the near future.
Impact of COVID-19 on Gypsum Plaster Market
- The coronavirus pandemic has put brakes on the global real estate segment. Furthermore, disruption in the supply chain of building materials has resulted in the suspension of production and distribution of materials utilized in the construction sector. Movement of workers from urban to rural areas and shortage of laborers at construction sites have led to the shutdown of the global construction sector.
- Saint-Gobain S.A.’s sales in the first quarter of 2020 fell by 9.8% year-on-year to US$ 11.01 Bn from US$ 12.2 Bn in the first quarter of 2019. The company, in the press release of Global Gypsum online portal, predicted that demand for construction materials would increase globally in the second quarter of 2020, as the construction sector across many countries is considered as an essential industry.
Asia Pacific to Dominate Gypsum Plaster Market
- Increase in government initiatives to develop infrastructure and affordable housing projects, and rise in foreign direct investments (FDI) are key factors expected to boost the construction sector in Asia Pacific. Increase in urbanization in India and China is expected to boost the demand for space in these countries in the near future. Properties of gypsum plaster such as excellent glossy finish onto plastered surfaces, excellent adhesion strength, and good workability are fueling the demand for gypsum plaster in the construction sector in the region.
- Presence of a large number of manufacturers of gypsum plaster in Asia Pacific is expected to drive the gypsum plaster market in the region in the near future. Major players operating USG Boral Building Products Pte. Limited, N.K.V. Gypsum Plaster Company Limited, SANKHLA BROTHER’S, Winstone Wallboards Ltd., Sam Gypsum Private Limited, JK Lakshmi Cement Ltd., Magicrete Building Solutions, and Vinayak Gypsum & Interiors Pvt. Ltd.
- The gypsum plaster market in Middle East & Africa is primarily dominated by the presence of global producers such as Saint-Gobain S.A. and domestic manufacturer Global Gypsum Company Ltd. Saint-Gobain S.A. operates under the name Saint-Gobain Gyproc Egypt in Middle East & Africa. It is the largest manufacturer and distributor of all forms of gypsum products in the region.
Leading Players in Gypsum Plaster Market
- Major players operating in the global gypsum plaster market 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.
- VG-ORTH GmbH & Co. KG
- La Maruxiña
- Winstone Wallboards Ltd.
- N.K.V. Gypsum Plaster Company Limited
- Sam Gypsum Private Limited.
- Saint-Gobain S.A. and Knauf Gips KG cumulatively held the highest share of the global gypsum plaster market in 2019. Saint-Gobain S.A. is a leading global company that specializes in the manufacture and supply of gypsum-based products, including gypsum plaster and plasterboard. The company filed more than 400 patents in 2019. It is a global leader in manufacture and supply of gypsum plaster.
Gypsum Plaster Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global gypsum plaster 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 plaster market to identify the opportunistic avenues of the business potential for stakeholders. The report also provides insightful information about how the gypsum plaster market will progress during the forecast period of 2020 to 2030.
The report offers intricate dynamics about the different aspects of the gypsum plaster market that aid 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 plaster market during the forecast period. It also includes a key indicator assessment to highlight the growth prospects of the gypsum plaster market, and estimate statistics related to the market progress in terms of value (US$ Mn) and volume (kilo tons).
The report mentions the company profiles of key players that are currently dominating the gypsum plaster market, wherein various development, expansions, and winning strategies practiced and executed by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Gypsum Plaster Market
The report provides detailed information about the gypsum plaster 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 plaster industry, so as to help them make successful strategies and take target-driven decisions.
- Which plaster system is likely to generate the highest revenue by 2030?
- Which raw material of gypsum plaster is expected to grow at fastest pace by the end of 2030?
- Which end use is the major consumer of gypsum plaster?
- How much revenue is the gypsum plaster market expected to generate by the end of the forecast period?
- How are key market players successfully earning revenue out of the advantages of gypsum plaster?
- What all companies operate across the globe?
- What are the indicators expected to drive the gypsum plaster market?
- Which regions are likely to provide profitable scope of opportunities for gypsum plaster market competitors?
Research Methodology – Gypsum Plaster Market
The research methodology adopted by analysts for combining the gypsum plaster 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 plaster 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 plaster 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 plaster market.
Gypsum Plaster Market – Segmentation
TMR’s research study assesses the gypsum plaster market on the basis of plaster system, raw material, end use, and region. This report presents the extensive market dynamics and progressive trends associated with different segments, and how they are influencing the growth prospects of the gypsum plaster market.