The global moisture-resistant plaster boards market size is projected to grow monumentally because of the huge demand for the product in the construction sector. The fireproofing, soundproofing, and moisture resistance are factors responsible for the market growth, shares Fortune Business Insights™ in its report titled “Moisture Resistant Plaster Market, 2021-2028.”
Moisture resistant plaster boards are made from water-resistant elements and oxidized gypsum core. They are extensively used to dry the internal surface of building walls and tiles. It is an extremely lightweight material that is easily available in the market. Moisture-resistant plaster boards are extremely easy to install and provide excellent fire and soundproofing. Such plasterboards offer excellent heat insulation and prevent heat from harming the residents inside buildings. Thus, its increasing applications in the construction industry are expected to fuel the market’s growth in the foreseeable period.
Impact of COVID-19
Declining Sales of Moisture Resistant Plaster Boards to Slump Market Growth
This market is expected to be adversely affected during the COVID-19 pandemic due to the halt on construction activities. The steady decline in moisture-resistant plaster boards’ sales is attributable to stringent lockdown restrictions on the manufacturing, construction, and transport sectors. The lack of raw materials and resources has led to a significant downfall of this market. However, the focus on developing green infrastructure can aid market growth.
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By type, the market is segmented into locating point moisture-resistant plasterboards and ordinary moisture-resistant plasterboards. Based on application, it is bifurcated into non-residential and residential. Geographically, it is grouped into Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa.
Highlights of the Report
The report offers an analysis of the recent market trends and the top market segments.
It comprehensively studies the impact of COVID-19 and the driving and restraining factors.
This report examines the strategies implemented by the market’s key players and the regional developments.
Drivers and Restraints
Increasing Applications in the Construction Industry to Enhance Market Growth
Moisture resistant plaster boards are used in acoustic recording rooms because of their soundproofing capabilities. It is also used to protect buildings from threats caused by fire. Its moisture resistance prevents the decay of materials and enhances the quality of the building materials. Moisture resistant plaster boards are extremely lightweight and easy to install, which, in turn, reduces the time required to construct buildings. In addition, the governments in developing countries are investing heavily in developing infrastructure facilities in their respective countries. The rising population and per-capita income have raised the number of quality constructions. Furthermore, the focus on green buildings facilitates the product demand. Thus, this factor can drive the moisture resistant plaster boards market growth.
However, the lack of awareness regarding the benefits of moisture resistant plaster boards and limited stock is likely to hamper the market growth.
Increasing Population and Infrastructure Facilities to Augment Market Growth in Asia Pacific
Asia Pacific is expected to dominate the moisture resistant plaster boards market share because of the population explosion and development of infrastructure facilities. The increasing maintenance and new construction activities are likely to propel market growth.
In North America, the Increasing emphasis on developing green building solutions is expected to enhance the product demand. In addition, the rising awareness and per-capita income are likely to bolster market growth.
In Europe, the prevalence of several prominent market players is expected to fuel the moisture resistant plaster board’s market growth.
Companies to Deploy Expansion Strategies to Enhance their Market Reach
The market’s prominent companies undertakebusiness expansion in several regions to enhance their market reach. This strategy can strengthen the brand presence of companies. The prominent players utilize technologically advanced production technologies to enhance their efficiency and utilize their resources more effectively. The launch of innovative products enables companies to gather the consumer’s attention and boost their annual revenue. In addition, the partnership between companies further aids in the production of superior quality products and improves annual revenue.
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November 2019: Saint-Gobain Life Sciences finished its second expansion of manufacturing facilities under the Global Facility Expansion Programme. This expansion enabled the company to enhance its industrial footprint globally.
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