Rockville, Aug. 15, 2023 (GLOBE NEWSWIRE) -- This newly published research report by Fact.MR, a market research and competitive intelligence provider, reveals that worldwide Dry Construction Market attain a value of US$ 127.1 billion in 2023. The global dry construction market is projected to expand at a CAGR of 5.2% between 2023 and 2033.
Increasing awareness about global warming along with concerns related to the environment is prompting the majority of people to opt for eco-friendly techniques for construction purposes, which is anticipated to have a positive impact on dry construction projects. The rising global population is driving the demand for residential buildings to meet shelter needs.
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Moreover, the growing disposable income of people is leading to investments in various construction projects. Regulatory agencies are also promoting the use of eco-friendly technologies in construction, which is expected to drive the demand for dry construction practices worldwide.
Dry construction is a specialized technique that aims to reduce the use of water and minimize adverse environmental impacts. In comparison to conventional brickwork and cement, dry construction is lighter in weight, leading to faster construction times.
Key Takeaways from Market Study
- The global dry construction market reached a size of US$ 120.9 billion in 2022.
- The market is predicted to expand at a 5.2% CAGR from 2023 to 2033.
- Sales of dry construction products are anticipated to reach US$ 212 billion by 2033-end.
- The United States market reached a valuation of US$ 32.1 billion in 2022.
- Demand for dry construction in China is predicted to rise at a CAGR of 8.2% and reach a value of US$ 41.3 billion by 2033.
- The German market is projected to advance at a CAGR of 3.8% through 2033.
- Worldwide demand for plasterboards is predicted to increase at a CAGR of 5.9% and reach a value of US$ 100.7 billion by 2033-end.
- Sales of dry construction in Japan are forecasted to rise at 3.1% CAGR from 2023 to 2033.
“Changing preferences towards sustainable building techniques and imposition of regulations to incorporate eco-friendly construction practices are set to drive the demand for dry construction,” says a Fact.MR analyst.
Growing Traction for Plasterboards Widening Horizon for Industry Players
Among other materials used in dry construction, demand for plasterboards is projected to accelerate at a steady CAGR of 5.9% from 2023 to 2033. There are several advantages associated with plasterboards, including fire safety, moisture resistance, ease of installation, and reduced construction time. These features of plasterboards are contributing to their increased demand in residential as well as non-residential construction.
High Cost of Raw Materials and Stringent Government Regulations Hindering Market Growth Opportunities
There are certain drawbacks associated with dry construction. Dry construction sometimes leads to generating a significant amount of waste and its disposal can become an issue that is further predicted to negatively impact market expansion.
Adoption of dry construction practices may be hindered by the cost involved, potentially impacting its widespread adoption. Additionally, stringent government regulations could limit opportunities for expansion in the dry construction industry.
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Competitive Landscape:
Players are involved in mergers, acquisitions, and collaborations to expand the reach of their products across geographies and thus generate profits.
For instance:
- Armstrong World Industries is an international designer & manufacturer of ceilings and walls and is headquartered in the United States. In December 2020, Armstrong acquired Arktura, LLC. This acquisition is predicted to make Armstrong’s position stronger and enhance its product portfolio and capabilities. The latter is a designer and manufacturer of standard and customizable ceiling and wall systems in the United States.
Key Market Players
Armstrong World Industries, Inc., Etex SA, CSR Ltd., Fletcher Building Limited, PABCO Gypsum, Knauf Gips KG, Panel Rey, Xella Group, Saint-Gobain SA, and USG Boral are some prominent players that are operating in the dry construction landscape at a global level.
Segmentation of Dry Construction Industry Research
- By Material:
- Plasterboards
- Metal
- Plastic
- Wood
- By System:
- Wall Systems
- Flooring Systems
- Ceiling Systems
- By Application:
- Residential
- Non-residential
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the dry construction market, presenting historical demand data for 2018 to 2022 and forecast statistics for 2023 to 2033.
The study divulges essential insights into the market based on material (plasterboards, metal, plastic, wood), system (wall systems, flooring systems, ceiling systems), and application (residential, non-residential), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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