form, the global plasterboard market can be divided into tapered-edged or square-edged. Residential and non-residential buildings are two segments of the market on the basis of end-users while geographically, the report studies the lucrativeness of the regions of North America, Europe, Asia Pacific, and Rest of the World.
Global Plasterboard Market: Drivers and Restraints
The market is primarily driven by the increasing consumer preference for low cost and yet durable construction materials. Since plasterboards are easily installed, they are gaining popularity among the end-users as it speeds-up the construction process. The report also detects that the growing inclination toward sustainable construction methods are being preferred by the companies, which will further favor the update during the forecast period. Conversely, environmental concerns across the world is one prominent factor that may hinder the growth rate of the market for plasterboard. According to their analyst of the report, the increased investments for research and development of eco-friendly and high-performance plasterboard will open new opportunities in the near future.
Currently, non-residential sector serves significantly more demand than residential segment, gaining from its benefits such as easy installation which leads to quick construction, helps in repair, and allows flexible architecture that are often preferred for the construction of non-residential buildings. By the type of product, fire-resistant segment has the maximum demand, which is a reflection of increased safety concerns and government regulations pertaining to safe construction of corporate offices and shopping centers.
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Global Plasterboard Market: Regional Outlook
Currently Asia Pacific, with emerging economies such as China and India wherein industrialization is at an all-time peak, contributes the maximum demand for plasterboard, and will remain the most prominent regional market over the course of next few years. The demand from North America is expected to expand at second best CAGR during the forecast period of 2016 to 2023.