NEW YORK, Jan. 6, 2016 /PRNewswire/ -- Plasterboard is an extensively used building material, which can be defined as a thin rigid board, in the form of a layer of gypsum core compressed between two thick sheets of recycled paper, used for forming and covering walls and ceilings. It is also referred to as a wallboard or drywall as it involves a dry construction process for its installation.
The market for plasterboard is driven by the demand from the construction industry. The rising population has encouraged construction of new buildings. High disposable income has enabled the end users to spend more on new constructions. Most importantly, the changing mindset of residential consumers has given a boost to the plasterboard industry.
The plasterboard market in the Asia-Pacific region is projected to grow at the highest CAGR from 2015 to 2020, in terms of volume. China is projected to occupy the major share of the market by 2020. Industrialization has accelerated urbanization in China through the migration of rural populations to urban areas and the development of towns into cities. As a result of steady economic growth, Chinese households experienced a continued increase in disposable income, which have contributed to the growth of construction demand. Moreover, the country's dense population and their increasing demands for sustainable constructions have compelled the plasterboard industry to increase its production and bridge the gap between demand and supply. This has, in turn, given an opportunity to the plasterboard sector to secure its position in the construction industry by meeting the rising demand for products.
The global plasterboard market is marked with intense competition due to the presence of a large number of both, big and small firms. New product launches, mergers & acquisitions, and partnerships and expansions are the key strategies adopted by market players to ensure their growth in the market. Companies such as Saint-Gobain S.A. (France), USG Corporation (U.S.), Etex Group (Belgium), Armstrong World Industries, Inc. (U.S.), Georgia Pacific LLC (U.S.), and Fletcher Building Limited (New Zealand) are some of the prominent companies in the plasterboard market, comprising 85% of the total market share.
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