Surging Use of Drywall Panels in Modern Buildings to Escalate Drywall Panels Market Growth
According to our latest market study on “Drywall Panels Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type and Application,” the drywall panels market size is expected to grow from US$ 48,719.96 million in 2022 to US$ 70,723.39 million by 2028; it is estimated to register a CAGR of 6.4% from 2022 to 2028. The report highlights key factors driving the drywall panels market growth and prominent players along with their developments in the market.
Drywall panels have various advantages compared to ordinary plaster. They are more durable and stronger. Also, the installation cost of drywall panels is less than plaster or other wall & ceiling paving and smoothing methods. Due to all these benefits, drywall panels are highly used in residential and non-residential construction activities.
Global Drywall Panels Market Breakdown – by Region
Drywall Panels Market 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)
Drywall Panels Market Share, Revenue and Forecast to 2028
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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.
Impact of COVID-19 Pandemic on Drywall Panels Market
The unprecedented rise in the number of COVID-19 cases across the globe and the subsequent lockdown of numerous manufacturing facilities hampered the drywall panels market growth. The severely affected construction sector due to delays of projects, laborer shortages, increased material costs, and supply chain delays reduced the demand for drywall panels in North America. However, the market is reviving due to the significant measures taken by governments, such as vaccination drives. The rising vaccination rate is boosting the construction industry’s overall growth. According to the World Economic Forum, the COVID-19 pandemic will influence innovation in home design. It is expected to provide new prospects in the area of house renovation. This factor is projected to open lucrative opportunities for the drywall panels market growth during the forecast period.
The report includes the segmentation of the global drywall panels market as follows:
The global drywall panels market is segmented into type, application, and geography. Based on type, the drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. Based on application, the global drywall panels market is segmented into residential and non-residential. By geography, the global drywall panels market is broadly segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South & Central America. The North America drywall panels market is further segmented into the US, Canada, and Mexico. The Europe drywall panels market is subsegmented into Germany, France, the UK, Italy, Russia, and the Rest of Europe. The Asia Pacific drywall panels market is further categorized into China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific. The market in the Middle East & Africa is further segmented into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. The South & Central America drywall panels market is further categorized into Brazil, Argentina, and the Rest of South & Central America.
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