Dublin, June 07, 2024 (GLOBE NEWSWIRE) -- The "Global Dry Construction Market: Analysis By Type, By Material, By Application, By Region, Size and Trends with Impact of COVID-19 and Forecast up to 2029" report has been added to ResearchAndMarkets.com's offering.
The global dry construction market was valued at US$92.76 billion in 2023, and is expected to be worth US$127.69 billion in 2029. The global dry construction market is expected to grow at a CAGR of 5.47% over the years 2024-2029.
Several upcoming trends are poised to shape the future of dry construction. One notable trend is the integration of advanced technologies such as Building Information Modeling (BIM) and automation into the dry construction process. These technologies enable more precise planning, faster assembly, and improved quality control, further enhancing the efficiency and effectiveness of dry construction projects. Furthermore, the growing interest in modular construction techniques is expected to drive innovation in the dry construction sector.
Market Segmentation Analysis:
By Type: Supporting framework segment dominated the market in 2023 and is also foreseen to grow at the fastest CAGR during the forecasted period. Supporting Framework encompasses the structural elements that provide stability and support within dry construction systems. This includes metal studs, joists, tracks, and other framing components. The increasing preference for lightweight and easily installable materials, such as metal studs, contributes to the demand for supporting framework systems. Additionally, the rising focus on sustainable construction practices favors the adoption of materials with high recyclability and low environmental impact, further fueling the growth of this segment.
By Material: Plasterboard segment dominated the market in 2023. Plasterboard, also known as gypsum board or drywall, is one of the most widely used materials in dry construction. Its popularity stems from its ease of installation, affordability, and versatility. Factors driving the growth of the plasterboard segment include its excellent fire resistance properties, sound insulation capabilities, and its ability to provide smooth and uniform surfaces for finishing. Additionally, the increasing adoption of eco-friendly plasterboard options, which are made from recycled materials and offer improved sustainability, is further fueling the segment's growth.
By Application: Residential segment dominated the market in 2023 and is also foreseen to grow at the fastest CAGR during the forecasted period. In the residential segment, dry construction methods are extensively employed in the construction of houses, apartments, and other residential buildings. The growth of this segment is primarily driven by factors such as rapid urbanization, population growth, and increasing disposable incomes, particularly in emerging economies. Additionally, the demand for quick and efficient construction methods that minimize disruption to occupants is fueling the adoption of dry construction techniques in residential projects.
By Region: The Asia Pacific region stands at the forefront of the dry construction market, a trend driven by a confluence of factors including population growth, rising per capita disposable income, and evolving market dynamics. This region's trajectory is further buoyed by an escalating demand for corporate spaces, hotels, shopping malls, schools, hospitals, and other structures, reflecting the evolving needs of its populace. Participating regional powerhouses like China, India, and Japan are poised to significantly impact the Asia-Pacific market, with emerging trends in North American countries such as the US and Canada adding to its momentum. The surge in construction projects, fueled by increased foreign direct investment (FDI) inflows, rapid industrialization, and heightened purchasing power, underscores the pivotal role of dry construction technologies in meeting the demands of an urbanizing world.
In the Asia-Pacific region, rapid population growth and urbanization, particularly in China and India, have spurred the adoption of dry construction as a solution to the pressing need for efficient and cost-effective building methods. This trend aligns with the region's increasing emphasis on eco-friendly solutions and sustainability, with governments implementing supportive policies and regulations. China's burgeoning market, driven by new construction projects and a burgeoning population, commands a significant share of the global dry construction industry. Moreover, the region's preference for high-quality yet affordable building materials, coupled with a growing appreciation for DIY application methods, positions dry construction as a favored choice for both professionals and end-users alike.
In North America, the dry construction market is experiencing robust growth, fueled by a combination of factors including urbanization, technological advancements, and evolving consumer preferences. Across North America, the demand for dry construction is also fueled by a growing trend towards DIY (do-it-yourself) application methods. Homeowners and small-scale developers are increasingly opting for dry construction materials that enable easy installation and customization, driving market growth in the region.
Market Dynamics:
- Growth Drivers
- Rapid Urbanization
- Increase In Disposable Income
- Rising Interest in Green Buildings
- Emphasis on Indoor Air Quality and Energy Efficiency
- Increasing Adoption of Environment-friendly Construction Practices
- Cost-effectiveness and Time Efficiency
- Increasing Interest in Acoustic Solutions
- Challenges
- Resistance to Change in Construction Practices
- Regulatory and Building Code Compliance
- Market Trends
- Rising Demand for Luxury Vinyl Tile (LVT) Flooring
- BIM (Building Information Modeling) Development
- Expansion in Emerging Economies
- Incorporation of 3D Printing
- Technological Advancements
Competitive Landscape:
The global dry construction market is highly fragmented, with several key players vying for market share through strategies such as mergers and acquisitions, partnerships, and product innovations. Leading companies in the market are focusing on expanding their product portfolios, enhancing their production capabilities, and strengthening their distribution networks to gain a competitive edge. Major players in the global dry construction market include Saint-Gobain, Knauf, Etex Group, and Fletcher Building, among others.
These companies are at the forefront of driving innovation in dry construction technologies and are continuously investing in research and development to introduce advanced and sustainable solutions. Regional players also play a crucial role in the market, catering to the specific needs and preferences of local markets. These players often focus on offering customized solutions and leveraging their local market knowledge to compete effectively against global players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 120 |
| Forecast Period | 2024 - 2029 |
| Estimated Market Value (USD) in 2024 | $97.84 Billion |
| Forecasted Market Value (USD) by 2029 | $127.69 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Executive Summary
2. Introduction
3. Global Market Analysis
3.1 Global Dry Construction Market Analysis
3.2 Global Dry Construction Market Type Analysis
3.3 Global Dry Construction Market Material Analysis
3.4 Global Dry Construction Market Application Analysis
4. Regional Market Analysis
4.1 Asia Pacific Dry Construction Market Analysis
4.2 North America Dry Construction Market Analysis
4.3 Europe Dry Construction Market Analysis
4.4 Rest of the World Dry Construction Market Analysis
5. Impact of COVID-19
6. Market Dynamics
6.1 Growth Drivers
6.1.1 Rapid Urbanization
6.1.2 Increase In Disposable Income
6.1.3 Rising Interest in Green Buildings
6.1.4 Emphasis on Indoor Air Quality and Energy Efficiency
6.1.5 Increasing Adoption of Environment-friendly Construction Practices
6.1.6 Cost-effectiveness and Time Efficiency
6.1.7 Increasing Interest in Acoustic Solutions
6.2 Challenges
6.2.1 Resistance to Change in Construction Practices
6.2.2 Regulatory and Building Code Compliance
6.3 Market Trends
6.3.1 Rising Demand for Luxury Vinyl Tile (LVT) Flooring
6.3.2 BIM (Building Information Modeling) Development
6.3.3 Expansion in Emerging Economies
6.3.4 Incorporation of 3D Printing
6.3.5 Technological Advancements
7. Competitive Landscape
7.1 Global Dry Construction Market: Competitive Landscape
7.2 Global Dry Construction Market Players by Products
8. Company Profiles
- Saint-Gobain S.A. (Certain Teed)
- Etex Group
- Fletcher Building
- Georgia-Pacific
- National Gypsum Company
- Knauf Gips KG (USG Corporation)
- Beijing New Building Materials Public Co., Ltd.
- American Gypsum Company
- PABCO Building Products LLC (PABCO Gypsum)
- Panel Rey, S.A.
- VANS Gypsum Pvt. Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/1arq7z
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