Report : Asia Pacific Drywall Panels Market Forecast to 2028 – COVID-19 Impact and Regional Analysis – by Type (Regular, Moisture-Resistant, Plaster Baseboard, Paperless, Type X, and Others) and Application (Residential and Non-Residential)
At 6.8% CAGR, the Asia Pacific Drywall Panels Market is speculated to be worth US$ 27,640.31 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Asia Pacific drywall panels market was valued at US$ 18,614.52 million in 2022 and is expected to reach US$ 27,640.31 million by 2028, registering a CAGR of 6.8% from 2022 to 2028. Surging use of drywall panels in modern buildings and rising construction industry are the critical factors attributed to the Asia Pacific drywall panels market expansion
Drywall panels facilitate faster construction and superior comfort in indoor environments. These panels are extensively used as a finishing material in the construction of modern buildings—mainly for ceilings, partitions, and interior walls. Drywall panels are widely used as a substitute for wooden panels and concrete walls in modern buildings and interiors, as they can be installed easily and quickly. Also, they are lightweight, flexible to use, cost-effective, and durable. Drywall panels also consist of recycled content. These panels are available in different colors and varieties, such as regular, green board, blue board, purple, paperless, type X fire-resistant, and soundproof drywall, which helps add desirable and luxurious aesthetics to the interiors of a building. In addition, drywall panels comply with all the requirements for design in architecture. Therefore, the use of drywall panels is growing in residential, commercial, industrial, and utility spaces, such as homes, offices, institutions, recreation centers, hotels, hospitals, and restaurants. Gypsum false ceilings add a magnificent appearance to the place and are easy to repair or replace. Also, drywall panels are favorable for the extensive range of decorative finishes for indoor construction, as they offer seamless wall surfaces. Thus, gypsum false ceilings with fancy designs are gaining more preference than plain ceilings and walls. Due to the versatility of drywall panels and their ability to offer innovative designs and textures on their surface, the use of drywall panels is increasing in modern buildings, driving the Asia Pacific drywall panels market.
On the contrary, growing concerns related to harmful effects of drywall panels hurdles the growth of Asia Pacific drywall panels market.
Based on type, the Asia Pacific drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. The regular segment held 46.2% share of Asia Pacific drywall panels market in 2022, amassing US$ 8,603.93 million. It is projected to garner US$ 12,833.41 million by 2028 to expand at 6.9% CAGR during 2022–2028.
Based on application, the Asia Pacific drywall panels market is bifurcated into residential and non-residential. The residential segment held 59.8% share of Asia Pacific drywall panels market in 2022, amassing US$ 11,136.90 million. It is projected to garner US$ 16,369.06 million by 2028 to expand at 6.6% CAGR during 2022–2028.
Based on country, the Asia Pacific drywall panels market has been categorized into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 49.4% share of Asia Pacific drywall panels market in 2022. It was assessed at US$ 9,203.28 million in 2022 and is likely to hit US$ 14,016.84 million by 2028, exhibiting a CAGR of 7.3% during the forecast period.
Key players profiles in the Asia Pacific drywall panels market report Compagnie de Saint Gobain SA; Georgia-Pacific LLC; Isam Khairi Kabbani Group; Knauf Gips KG; Sadaf Gypsum Co; and Yoshino Gypsum Co Ltd, among others.
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