Report : Middle East & Africa 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 5.1% CAGR, the Middle East & Africa Drywall Panels Market is speculated to be worth US$ 2,886.97 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa drywall panels market was valued at US$ 2,139.57 million in 2022 and is expected to reach US$ 2,886.97 million by 2028, registering a CAGR of 5.1% from 2022 to 2028. Rising construction industry and increasing construction and infrastructure development activities in Middle East & Africa are the critical factors attributed to the Middle East & Africa drywall panels market expansion.
Drywall panels, also known as wallboard, plasterboard, and gypsum board, are used in the construction of residential and non-residential buildings for interior walls, ceiling applications, and separation walls. They are used for direct decoration or thistle plaster finish. A drywall panel is preferred to plaster because it is easier to install and repair, less expensive, and more durable. It takes less time to mount and is also widely available. Drywall panels are also fire-resistant. All these benefits of drywall panels are boosting their use in residential and non-residential construction activities. The construction industry plays a significant role in the physical and economic development of Saudi Arabia. It accounts for ~9% of the GDP and employs ~1.5 million workers. Saudi Arabia's government policy and reconstruction process of new highways, bridges, sports facilities, and residential and governmental offices have fueled the growth of the construction industry in the country. Thus, the high rate of construction activities in various countries across the globe creates an enormous demand for various construction materials, including drywall panels. Hence, the rising construction industry globally is mainly driving the demand for drywall panels.
On the contrary, growing concerns related to harmful effects of drywall panels hurdles the growth of Middle East & Africa drywall panels market.
Based on type, the Middle East & Africa drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. The regular segment held 43.4% share of Middle East & Africa drywall panels market in 2022, amassing US$ 927.78 million. It is projected to garner US$ 1,258.68 million by 2028 to expand at 5.2% CAGR during 2022–2028.
Based on application, the Middle East & Africa drywall panels market is bifurcated into residential and non-residential. The residential segment held 65.3% share of Middle East & Africa drywall panels market in 2022, amassing US$ 1,397.68 million. It is projected to garner US$ 1,900.83 million by 2028 to expand at 5.3% CAGR during 2022–2028.
Based on country, the Middle East & Africa drywall panels market has been categorized into South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa. Our regional analysis states that Saudi Arabia captured 42.1% share of Middle East & Africa drywall panels market in 2022. It was assessed at US$ 901.20 million in 2022 and is likely to hit US$ 1,213.52 million by 2028, exhibiting a CAGR of 5.1% during the forecast period.
Key players profiles in the Middle East & Africa drywall panels market report Compagnie de Saint Gobain SA; Georgia-Pacific LLC; GYPSEMNA Co LLC; Isam Khairi Kabbani Group; Knauf Gips KG; Sadaf Gypsum Co; and Technomec Building Industries LLC, among others.
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