Saudi Arabia Drywall Panels Market to Grow at a CAGR of 5.0% to reach US$ 304.43 million from 2020 to 2028

Saudi Arabia Drywall Panels Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Type (Regular, Moisture-Resistant, Plaster Baseboard, Paperless, Type X, and Others); and Application (Residential, and Non-Residential )

Publication Month : Apr 2021

  • Report Code : TIPRE00021609
  • Category : Chemicals and Materials
  • Status : Published
  • No. of Pages : 109
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The Saudi Arabia drywall panels market was valued at US$ 207.70 million in 2020 and is projected to reach US$ 304.43 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028.


Drywall panels, also known as plasterboard or wallboard, are panels made of gypsum (calcium sulfate dehydrate) and is used in the construction industry. They are sometimes manufactured with additives in order to enhance their properties and add features such as fire resistance, water resistance, and mold resistance. Growth of theThe increasing construction activities in Saudi Arabia has significantly contributed towardsdrives the growth of the drywall panels market in Saudi Arabia.
 
TCOVID-19 first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. he chemicals & materials is one of the world's major industries suffering serious disruptions such as supply chain breaks, and office shutdowns as a result of the COVID-19 outbreakthis outbreak. Moreover, due to the increased number of COVID-19 confirmed cases and the reinstatement of lockdowns following an initial easing, as well as uncertainty about the government's ability to cover its oil revenue losses and stabilize its debt burden in the short term, the Saudi Arabia drywall panels market is expected to facinge some various challenges to curb the pandemic and stabilize its economy. The Saudi government's revenues will are expected to sdecreaseuffer because of low oil prices in coming years, which is most likely to influence the government's economic spending program plans and all mega infrastructure projects in the pipeline. This, in turn, will would also negatively affect the drywall panels market in Saudi Arabia. COVID-19 outbreak has had a major impact on construction projects in Saudi Arabia. Construction project participants are having difficulty in moving projects forward and resolving claims resulting from on-site suspensions, delays, and extra costs. Although some building contracts have already been terminated as a result of the pandemic, several others are currently being renegotiated. To mitigate the negative effects of COVID-19the COVID-19 outbreak, parties have begun to seek solutions and common ground by compromising on their legitimate claims. On December 23, 2020, the General Panel of the Supreme Court of the Kingdom of Saudi Arabia issued a decision (KSA Supreme Court's General Assembly, Decision n° 45/m of 08/05/1442 A.H) regarding the effect of COVID-19 on construction contracts (KSA Supreme Court's General Assembly, Decision n° 45/m of 08/05/1442 A.H). The Supreme Court's decision offers guidelines on how the principle of good faith in contract performance can be applied in compliance with Sharia Law. Under the new decision, construction contracts regulated by Saudi Arabian law can now be amended by Saudi Arabian courts without the parties' consent under some situations. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the travel bans and lockdowns imposed across Saudi Arabia are adversely affecting business collaborations and partnership opportunities. All these factors are anticipated to affect thehindering industries in a negative manner, and thus, act as which a is restraining factor for the growth of various markets related to the drywall panels market in the coming months. This is likely to impact the chemicals & materials industry in Saudi Arabia as, due to the COVID-19 outbreak, the supply chain is likely to get affected. In addition, the disruptions in overall manufacturing processes, research, and development activities will are also negatively impacting the Saudi Arabia drywall panels market growth.
 

Market Insights



Applications of Drywall Panels


Based on application, the Saudi Arabia drywall panels market is segmented bifurcated into residential and non-residential. The residential segment led the market with the a largerst share in 2020. Key factors such as Growing growing urban population as well asand increasinge in  demand for aesthetically enhanced materials in building architecture are the key factors supporting the developments in the residential sector. Moreover, rise in the number of home improvements and renovation projects is bolstering the demand for drywall panels in residential applications and. Furthermore,  an increase in the number of construction projects, —including commercial and residential construction, —in Saudi Arabia is are bolstering the demand for drywall panels in residential applicationsexpected to boost product demand in the coming years.
 

Type Insights


Based on type, the Saudi Arabia drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. The regular segment led the market with the largest share in 2020. Regular drywall is a plain drywall with no special features. The absence of additional features does not make it a substandard type, and it is, thus, a widely used product. Regular drywall is naturally fire retardant, as water molecules in the gypsum impede the spread of flames; . howeverHowever, this drywall type is not treated with other materials enhancing its fire resistance property. The regular drywall products are white on one side and brown on the other. It is the most cost-effective drywall type and is available in a variety of thickness options, ranging from 3/8th of an inch to one inch., whereas t The most commonly used product of this type is typically available in 4/8-foot panels.
  

                                              Saudi Arabia Drywall Panels Market, by Type – 2020 and 2028

Saudi Arabia Drywall Panels Market, by Type – 2020 and 2028
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Saudi Arabia Drywall Panels Market: Strategic Insights

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A few key market players operating in the Saudi Arabia drywall panels market are IKK Group of Companies, Mada Gypsum, EL-Khayyat Gypsum Factor, United Mining Industries, Knauf Gips KG, National Gypsum Company, Sinar, Al Watani Gypsum Co. Ltd., USG Corporation, and Saint Gobain S.A. Major players in the market are focusing on strategies such as mergers and acquisitions and product launches to expand their geographical presence and consumer base across Saudi Arabia.  

Report Spotlights

  • Progressive industry trends in the Saudi Arabia drywall panels market to help players develop effective long-term strategies
  • Business growth strategies adopted by developed and developing markets
  • Quantitative analysis of the Saudi Arabia drywall panels market from 2018 to 2028
  • Estimation of the demand for Saudi Arabia drywall panels across various industries
  • PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
  • Recent developments to understand the competitive market scenario and the demand for Saudi Arabia drywall panels  
  • Market trends and outlook coupled with factors driving and restraining the growth of the Saudi Arabia drywall panels market
  • Decision-making process by understanding strategies that underpin commercial interest regarding Saudi Arabia drywall panels market growth
  • Saudi Arabia drywall panels market size at various nodes of market
  • Detailed overview and segmentation of the Saudi Arabia drywall panels market as well as its dynamics in the industry
  • Saudi Arabia drywall panels market size in various regions with promising growth opportunities


Saudi Arabia Drywall Panels Market, by Type

  • Regular
  • Moisture-Resistant
  • Plaster Baseboard
  • Paperless
  • Type X
  • Others


Saudi Arabia Drywall Panels Market, by Application

  • Residential
  • Non-Residential


Company Profiles

  • IKK Group of Companies
  • Mada Gypsum
  • EL-Khayyat Gypsum Factor
  • United Mining Industries
  • Knauf Gips KG
  • National Gypsum Company
  • Sinar
  • Al Watani Gypsum Co. Ltd.
  • USG Corporation
  • Saint Gobain S.A.
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

This text is related
to country scope.

The List of Companies - Saudi Arabia Drywall Panels Market

  1. IKK Group of Companies
  2. Mada Gypsum
  3. EL-Khayyat Gypsum Factory
  4. United Mining Industries
  5. Knauf Gips KG
  6. National Gypsum Company
  7. Sinar
  8. Al Watani Gypsum Co. Ltd.
  9. USG Corporation
  10. Saint Gobain S.A.

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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