New York, Jan. 23, 2023 (GLOBE NEWSWIRE) -- The Insight Partners published latest research study on “Drywall Panels Market Share, Demand, Industry Trends and Forecast to 2028- COVID-19 Impact and Global Analysis by Type (Regular, Moisture-Resistant, Plaster Baseboard, Paperless, Type X, and Others) and Application (Residential and Non-Residential)” the drywall panels market size is expected to grow from US$ 48.72 Billion in 2022 to US$ 70.72 Billion by 2028; it is estimated to grow at a CAGR of 6.4% from 2022 to 2028
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Global Drywall Panels Market Report Scope, Segmentations, Regional & Country Scope:
| Market Size Value in | USD 48.72 Billion in 2022 |
| Market Size Value by | USD 70.72 Billion by 2028 |
| Growth rate | CAGR of 6.4% from 2022 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2022 |
| No. of Pages | 188 |
| Historical data available | Yes |
| Segments covered | Type, and Application |
| Regional scope | North America, Europe, Asia Pacific, Middle East & Africa, South & Central America |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Key Research Capabilities | Global Market Assessment, Business Development Strategies, Competitive Landscape, Opportunity Analysis, Regional and Country Level Market Analysis, Market Entry Strategies, Market Dynamics, Risk and Return Assessments, Pricing Analysis, Market Size and Forecasting, Company Profiling, Value Chain Analysis, Expansion Strategies, SWOT Analysis, New Product Development |
| Global Drywall Panels Market Forecast to 2028 - Latest COVID-19 Analysis | https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00029814/ |
Drywall panels are widely used as a substitute for wooden panels and concrete walls in modern buildings and interiors, as they can be installed easily and quickly. Also, they are lightweight, flexible to use, cost-effective, and durable. Drywall panels also consist of recycled content. These panels are available in different colors and varieties, which helps add desirable and luxurious aesthetics to the interiors of a building. In addition, drywall panels comply with all the requirements for design in architecture. Gypsum false ceilings help enhance the appearance of the place and are easy to repair or replace. Also, drywall panels are favorable for the extensive range of decorative finishes for indoor construction. Due to all these factors, the use of drywall panels is growing in residential, commercial, industrial, and utility spaces, such as homes, offices, institutions, recreation centers, hotels, hospitals, and restaurants.
Drywall Panels Market: Competition Landscape
The key players operating in the global drywall panels market include Georgia-Pacific LLC, American Gypsum Co LLC, Yoshino Gypsum Co Ltd, Compagnie de Saint Gobain SA, Sadaf Gypsum Co, Knauf Gips KG, Isam Khairi Kabbani Group, National Gypsum Co, Technomec Building Industries LLC, and GYPSEMNA Co LLC. Players operating in the global drywall panels market focus on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities, new product launches, and expanding production capacities.
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Impact of COVID-19 Pandemic on Drywall Panels Market
The COVID-19 pandemic severely impacted various economies across the globe. The pandemic significantly hampered the growth of the drywall panels market due to adverse effects on the growth of the building & construction industry. In Asia Pacific, a decline in consumer demand due to job security and income concerns led to low investment in the building & construction industry, reducing the need for drywall panels. Further, many drywall panel manufacturers suffered from a shortage of raw materials, resulting in rising costs of raw materials and lead times lengthening. However, the building & construction sector revived with the resumption of operations in 2021. With this, the demand for drywall panels has started improving globally.
Drywall Panels Market: Segmental Overview
Based on type, the drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. The type X segment is expected to register the highest CAGR during the forecast period. Type X drywall panels are constructed from noncombustible fibers. They usually have a thickness of 5–8 inches, and the extra thickness enhances their soundproofing properties. These drywall panels have fire-resistive properties. Layers of varying thicknesses may be used to achieve a higher fire rating. These panels are more difficult to cut and work with than regular drywall panels and are typically used in garages, rooms, and apartment buildings in accordance with several building codes.
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Based on application, the drywall panels market is segmented into residential and non-residential. The non-residential segment is expected to register a higher CAGR during the forecast period. Commercial places such as office buildings, hospitals, shopping malls, movie theatres, colleges and universities, hotels, restaurants, warehouses, and community halls require drywall panel installation during construction to protect the structure from fire, damage, mold, humidity, and extreme weather conditions. The non-residential sector is presumed to gather momentum significantly across the globe due to the increased demand for drywall panels from the hospitality sector, corporate offices, public places, and education facilities.
In 2022, Asia Pacific held the largest share of the global drywall panels market. The major factor driving the drywall panels market in the region is the strong growth of the building & construction industry. The rise in foreign direct investments also leads to the growth of the region’s construction industry. Owing to the surge in construction activities, Asia Pacific is a prominent market for drywall panels. Further, the players operating in the Asia Pacific drywall panels market are heavily investing in research & development activities and focusing on expanding their production capacities, which is propelling the drywall panels market growth in the region.
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Key Developments
- In 2022, Knauf Gips KG launched Stratopanel with air-purifying CLEANEO Technology, a perforated plasterboard interior solution that helps improve indoor air quality in commonly used spaces.
- In 2022, Adaptavate Ltd launched drywall made from agricultural waste and a lime-based binding agent that absorbs carbon dioxide. The approach eliminated the need for gypsum, an emission-intensive material.
- In 2022, Georgia-Pacific LLC invested more than US$ 300 million in the gypsum wallboard facility in Sweetwater East, Texas. The company aimed to strengthen its capacity to meet the growing customer needs in Texas’ residential, commercial, and industrial construction sectors.
- In 2019, Etex Group invested ~US$ 170 million to develop an advanced plasterboard manufacturing facility for its Siniat brand in Bristol, England
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