Gypsum Plaster Market: Introduction
The global
gypsum plaster market was valued at ~US$ 400 Mn in
2019 and is anticipated to expand at a CAGR of 3.5%, in terms of
volume, from 2020 to 2030. Gypsum plaster possesses distinctive characteristics
including high strength, crack resistance, water saving, ease of application,
and lightweight. These play a vital role in driving the demand for gypsum
plaster in the building & construction sector. Gypsum plaster is primarily
used to protect walls and ceilings, and enhance the value of rooms in interiors
of residential buildings, offices, hotels, hospitals, and educational
institutes. Asia Pacific accounted for a major share of the global gypsum plaster
market in 2019. The rise in the number of residential as
well as non-residential construction activities, owing to increased
urbanization across the region is expected to boost the consumption of gypsum
plaster in the near future. In terms of demand, China held dominant share of
the market in the region in 2019. The gypsum plaster market in China is
expected to expand at a CAGR of ~4% (in terms
of value) during the forecast period.
Major Drivers of Gypsum Plaster
Market
According
to the World Bank, the global urban population is expected to surpass the 6
billion mark, accounting for more than 65% of
the total world population, by 2050. This depicts an increase of more than 10% share
in urban population in the total population to that in 2018. Rapid expansion of
population, rising government spending on infrastructure development, and
increase in demand for space have fueled the global building & construction
sector. The advancement in construction methods to improve productivity and
infrastructure sustainability, and maintainability of structures have also
positively impacted the global building & construction sector. Gypsum
plaster offers excellent glossy finish to plastered surfaces. Therefore, it can
create a smooth undulation-free surface when applied over exterior or interior
walls of a home. Furthermore, it exhibits excellent adhesion strength, good
workability, and decreased dead load of the surface. These characteristics of
gypsum plaster are likely to drive its demand across the globe in the near
future.
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The spread
of the coronavirus pandemic across the globe is expected to hamper the
construction sector. Furthermore, imposition of nationwide lockdowns has led to
closure of construction sites. This is hindering consumption of gypsum plaster
globally.
North America Dominates Gypsum
Plaster Market
In terms of
revenue and volume, Asia Pacific led the global gypsum plaster market in 2019.
The expansion of the building & construction sector and presence of
regional manufacturing facilities for gypsum plaster in the region are expected
to boost consumption of gypsum plaster in the near future. This, along with a
shift in urbanization from rural areas to urban areas, is fueling the demand
for new residential constructions in countries, including China and India.
Gypsum plaster is employed in the construction sector due to its high strength
and crack resistance. This is estimated to drive the demand for gypsum plaster
in these countries in the near future.
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Europe is
among the key producer of gypsum plaster, with the presence of global leaders
such as Saint-Gobain S.A. In addition, Europe has 154 quarries
and 160 factories
(plaster powder plants and plasterboard plants). Furthermore, growth in
the number of building permits is expected to drive the building &
construction sector in countries such as Germany in the region. This is
projected to boost the demand for gypsum plaster in Europe. Majority of
large-scale manufacturers in Europe possess diverse distribution channels for
the supply of gypsum plaster.
Prominent Players in Global Market
Key players
operating in the global gypsum plaster market are 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, and Sam Gypsum Private Limited
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