GYPSUM BOARD MARKET ANALYSIS
Market Dynamics:
The gypsum board market is expected to witness significant growth over the forecast period, owing to increasing awareness about the properties of the gypsum boards in terms of fire resistance capabilities and high thermal resistance. According to the Global Construction Perspectives and Oxford Economics, the global construction industry is expected to reach US$ 17.5 trillion by 2030, which is US$ 8 trillion rise from 2015. This growth of the construction industry is expected to drive growth of the gypsum board market. Moreover, growth of the market is expected to be driven by increase in disposable income, increasing spending of the consumers on home refurbishment activities, and improvement in standard of living.
Market Trends:
On the basis of product type, the wallboard segment is expected to hold a dominant position in the global gypsum board market, owing to its wide range of application in room interiors, surfaces, and room partitions. The wallboards are directly attached to the wooden or metal frames, which allows it to be a suitable substitute as compared to other traditional coverings and planks used in the construction industry.
Market Trends:
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