New York, USA, Dec. 21, 2022 (GLOBE NEWSWIRE) -- Dry Construction Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Dry Construction Market Information by Material, Type, System, Application, Region - Forecast till 2028”, the market is estimated to grow at a 4.90% CAGR to reach USD 79.08 Billion by 2028.
Market Scope:
To put it simply, dry construction is a type of building that relies on prefabricated components manufactured in a factory setting. Because it does not necessitate any additional drying time after assembly, it is a viable option. The historic forecast period that ended in 2019 found that demand for dry construction rose dramatically and steadily across the globe as a result of urbanization and industrialization. Buildings including residences and buildings are increasingly using the dry building method.
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Report Scope:
| Report Attribute | Details |
| Market Size in 2028 | USD 79.08 Billion |
| CAGR | 4.90% (2021–2028) |
| Base Year | 2020 |
| Forecast Period | 2021–2028 |
| Historical Data | 2019 |
| Forecast Units | Value (Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Material, Type, System, Application, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | There has been a significant demand for infrastructure in hospitals and other medical facility centers. |
| There has been a rapid infrastructural development that is being coupled with the availability of business capital investments in emerging economies. |
Competitive Dynamics:
During the forecast period ending in 2028, the global dry construction market is expected to expand in a number of ways, and key players in this market are using a variety of strategies to maintain their market position. The following are the most important companies in the global dry construction market:
- Saint Gobain (France)
- Pabco Gypsum (U.S)
- Fletcher Building (New Zealand)
- Xella Group (Germany)
- Armstrong World Industries (U.S.)
- Knauf (Germany)
- Etex Group (Belgium)
- USG Boral (Malaysia)
- CSR (Australia)
- Panel Rey (Mexico)
Market USP:
Market Drivers
Increasing industrialization and urbanization, as well as the construction industry's embrace of sustainable and lightweight building practices, are the primary forces propelling the global dry construction market. There are a number of developed countries whose governments have adopted legislation encouraging dry construction methods. However, industrial enterprises have disposal challenges due to the trash produced by dry construction. Furthermore, dry construction's market growth can be limited by its greater price. The market for dry construction materials has expanded rapidly in recent years, and its leaders anticipate that this trend will continue.
As a result of the pandemic's spread, there has been a surge in demand for new healthcare facilities, including hospitals, clinics, laboratories, and shipping and transportation facilities. Despite the entrance of the pandemic, certain countries in the market are running at a basic level, which bodes well for demand for products and equipment in the global dry construction industry. The need for dry constructions has been spurred by the rapid infrastructure development and the availability of business capital investments in growing economies like China and India of the APAC region.
Market Restraints
The infrastructure and building sector, one of the major demandants of the global dry construction market during the ongoing forecast period, has been hit hard by the unexpected entrance of the pandemic. The growth and development of the dry construction sector is hampered by a number of obstacles. Customers and investors are hesitant to put up money because of the widespread doubts surrounding the recovery period's tendencies following the pandemic's emergence. Companies operating in the dry construction industry are also losing money as a result of a lack of investment, which is preventing them from growing to fulfill the needs of an increasingly wealthy customer base.
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COVID-19 Analysis:
The lockdowns enforced in the majority of nations due to the outbreak of the new COVID-19 in December 2019 and the escalating cases on the international scale in 2020 have had a significant negative impact on the dry constructions market and the product demand in recent months. Many countries in the market, including some of the most important ones like Italy, the United States, and India, have experienced curfew-like situations in which only the most essential services could operate with a skeleton staff.
In addition, the construction industry's recent poor development can be related to the COVID-19 outbreak's effects on the industry and its many associated supply and demand chain disruptions. Due to the restrictions put in place in recent months to stop the spread of COVID-19, most building projects have been put on hold temporarily.
In the last few months, demand for dry constructions has been considerably impacted by the aforementioned issues. As a result of supply chain interruptions, cash flow problems, a lack of available manpower, and a production stoppage brought on by the pandemic, the dry construction market's producers and manufacturers and the construction sector as a whole are likely to encounter a number of difficulties.
Market Segmentation:
Based on Type:
Supporting framework segment is expected to record substantial growth over the review period.
Based on Material:
Plasterboard segment is poised to grow at a notable CAGR over the review period.
Based on System:
Wall segment is expected to record substantial growth over the review period.
Based on Application:
Residential segment is slated to rise at a significant market value over the forecast period.
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Regional Analysis:
The global dry construction market has been broken down by region, with the five most important ones all having their own distinct markets. When the historic projection period that concluded in 2019 was taken into account, Asia-Pacific held the greatest share of the worldwide dry construction market, followed by North America.
The rise in population and disposable income per person is expected to fuel the dry construction sector, which in turn is expected to propel the market for dry construction in this region over the next few years. These market tendencies further imply that demand for business spaces, hotels, shopping malls, schools, hospitals, and others has increased in the Asia-Pacific region, which contributes to the expansion. The expansion of the dry construction industry in Asia-Pacific area participants like China, India, and Japan will be a major factor in the region's overall growth, with the United States and Canada following closely behind in terms of projected market size.
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