Impact of COVID-19 on Gypsum Boards Market : Implications on Business
The one thing that is evident from Harold Newman Arena construction at the University of Jamestown in North Dakota is that gypsum boards are massively pleasing to eye and are thus seeing an upward curve in the construction industry. And, as this trend catches up on with more and more people, the global gypsum board market is set to grow at a steady pace. The reasons behind the growing popularity is its multiple advantages over substitutes such as wood, plywood, and brick. Some of these are cost effectiveness, sound attenuation and easy and quick installation. Besides, gypsum boards offer better protection against mold, mildew, rough weather conditions, and fire.
Some of the notable developments and trends that are contributing to growth of global board market are spelled out below:
- By 2050, construction volumes would be up by 85%, accruing a hefty market worth of USD 15.5 trillion. And, it is quite interesting to note at this point that a hefty share of more than 50% will be accounted for b mere three nations. And, these three nations include the United States, India, and China. As population grows at an impressive pace, demand for living spaces such as those of residential, recreational, and commercial is set to see an upward curve. And, thus, the increase in construction volumes is in sync with growth in population over the next 30 years. Population will be up by 2 billion by 2050. This, will thus, contribute to growth in global gypsum board market massively.
- Rapid industrialization in the Asia Pacific economies is leading to generation of new growth opportunities, ready for market players to tap into. This will encourage players to have eyes set on the region over the coming years. And, a good many are foraying into the landscape to garner gains.
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Global Gypsum Board Market: Snapshot
Apart from the productive properties of gypsum board, it is also employed as an aesthetic building material, which is evident in the Harold Newman Arena construction at the University of Jamestown in North Dakota. Recently, the steeple segment of the arena was witnessed to become colorful with the addition of gypsum board. The US$15.0 mn athletic complex is set to drop curtains in August 2017.
According to the researchers, the global gypsum board market is prophesied to be classified as per key parameters such as product and application. An in-depth analysis of the market’s top segments is a great step to take if a player wants to determine the lucrative and risk-bearing areas of the industry.
The report is a classic representation of a comprehensive and meticulous study of the global gypsum board market. Players can look to take confident strides in the international market with the help of this industry guideline and make an enduring progress in their business.
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Global Gypsum Board Market: Trends and Opportunities
The global construction sector is envisaged to be a primary factor propelling the demand for gypsum board as a preeminent building material. Plywood, wood, brick, and other conventional construction materials could be easily replaced with gypsum board over different advantages such as sound attenuation, faster installation, and cost effectiveness. End users of gypsum board are also expected to be allured by other benefits such as enhanced mildew, mold, weather, and fire resistance and grander finish. Businesses that deal with institutional, commercial, and residential structures are predicted to swell the demand for gypsum board in the building of partition systems, ceilings, and walls.
Countries importing the raw material gypsum for the production of gypsum board could face the danger of price increase and be tied to local import taxation regime. However, exporting countries are projected to encounter a stable pricing scenario with price inflations materializing at a gradual rate based on macroeconomic aspects. In the near future, the shortage of crude gypsum could be dealt with as Oman and China expand their capacities. The rising migration from rural to urban locations and conventional buildings to innovative architectural structures is also foreseen to raise the expectations of vendors operating in the global gypsum board market.
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Global Gypsum Board Market: Geographical Study
The Asia Pacific gypsum board market is envisioned to expand rapidly, owing to the speedy advancement in the construction sector of China and ballooning population growth in other less developed nations. Housing construction activities are frequenting at a high rate with a view to satisfy the aggressive demand of the rising population in developing nations. Besides this, certain properties of gypsum board such as easy installation, cost effectiveness, and light weight could magnify its employment in emerging nations.
The constant rise in urbanization in countries such as Argentina, Mexico, Malaysia, Thailand, and India is foretold to set the tone for the worldwide gypsum board market. North America is another regional market forecasted to showcase a telling growth on the back of profit-making countries such as the U.S. There has been a significant rise in the construction activities of commercial and residential buildings in the U.S. As a result, North America is projected to take charge of a perpetual demand for gypsum board, which is despite of the demand flop in the last decade.
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