Gypsum Board Market Development, Trends, Demand and Forecast Till 2024
The report further anticipates the market to reach a value of US$ 31.7 Billion by 2024, at a projected CAGR of 5.8% over the forecast period.
By: IMARC Group
According to the global gypsum board market research report by IMARC Group, the market was worth US$ 22.4 Billion in 2018. The report further anticipates the market to reach a value of US$ 31.7 Billion by 2024, at a projected CAGR of 5.8% over the forecast period.
Global Gypsum Board Market Drivers/Constraints:
· The production of gypsum board deteriorated consistently since the year 2008-2010 owing to the downturn in the construction industry. Nevertheless, in the year 2011, the industry started to recover gradually leading to a rise in the demand for gypsum boards across the world.
· In addition, rising disposable incomes, rapid urbanisation as well as growing awareness of consumers about environment-
· Some of the other factors that are propelling the growth of the global gypsum board market include rising population, surging infrastructural developments, large-scale industrialisation, favourable government initiatives and growing demand for quality housing and enhanced living standards.
· However, there are several factors which are acting as a hindrance to the growth of the market. While it is easy to apply plaster at any curvy spaces, applying gypsum board over intricate surfaces can be a challenge.
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Some of the leading players operating in the market are:
· BNBM Group
· USG Boral
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