Furthermore, being light in weight and possessing low thermal conductivity, it aids in decreasing the structural load of building, thereby saving on the energy cost. These all features raise the demand for gypsum plaster in the construction industry and among consumers. However, gypsum plaster is more expensive than cement or cement lime plaster. Being slightly soluble in water, it is not suitable for exterior finishes. These are some of the factors estimated to hamper the growth of the market during the forecast period. However, continuous research and development activities in the field of plaster formulation and material science are likely to create new opportunities for manufacturers operating in the gypsum plaster market.
In terms of region, the global market for gypsum plaster can be segmented into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is anticipated to be the leading market for gypsum plaster in the near future. The rise in construction activities, particularly in rebuilding and renovation, and the consequent rise in demand for plasterboards are factors estimated to propel the demand for gypsum plaster during the forecast period. The building & construction industry in Asia Pacific is expanding significantly, due to rapid urbanization in countries such as China and India. This, in turn, is boosting the market for gypsum plaster. Rise in demand for residential houses in countries such as Germany and France is also driving the demand for gypsum plaster in these countries.
Major companies manufacturing cement concrete are focusing on cost-saving and development of high-performance plaster products. Companies are adopting strategies such as partnerships, joint ventures, and mergers and acquisitions in order to raise their market share and extend the distribution network. Furthermore, product innovations and rising expenditure on the infrastructure development in different developing countries are a few other factors augmenting the global gypsum plaster market.
Key players operating in the global gypsum plaster market include BUILDON, Saint Gobain, Zahid Group, Grenzebach Group, and Knauf Gips KG.
Highlights of the report: � A complete backdrop analysis, which includes an assessment of the parent market � Important changes in market dynamics � Market segmentation up to the second or third level � Historical, current, and projected size of the market from the standpoint of both value and volume � Reporting and evaluation of recent industry developments � Market shares and strategies of key players � Emerging niche segments and regional markets � An objective assessment of the trajectory of the market