ID: MRFR/CO/2103-HCR | February 2021 | Region: Global | 107 pages
Global Dry Construction Market was valued at USD 79.7 billion in 2019, and it is expected to reach USD 102.8 billion by 2027, at 5.1% CAGR during the forecast period (2020 - 2027).
The market for dry construction has witnessed moderate growth in the past couple of years. The demand for dry construction is expected to be driven by the growing construction industry and the adoption of lightweight construction materials. The base year considered for the study of the market is 2019, and the forecast period for the global dry construction market is 2020 to 2027.
Dry construction is a specialized method of construction, based on the use of industrially prefabricated construction systems. It is a quick, safe and quality construction assembly, which does not require any additional time for drying. There has been a rise in the demand for dry construction due to the urbanization and industrial growth, across the world. Dry construction is widely adopted in the construction of offices, homes, and other structures.
The awareness regarding global warming and various environmental concerns are contributing to the growth of the dry construction market. Consumers are inclined toward the use of eco-friendly techniques of construction, which will boost the growth of dry construction. Moreover, the growth of the dry construction market depends on the growth of the construction industry. Governments across the world are focused on developing their infrastructure for the improvement of the regions and countries. Therefore, they are introducing various reforms and regulations for boosting their infrastructure and real-estate industries, which will enable the growth of the construction industry, driving the dry construction market. Moreover, an inclination toward dry construction due to various properties, such as water resistance, environment-friendliness, and ease of installation are some of the other factors drive the market of dry construction, across the globe. Investments in the research and development is an opportunity for the market players. However, the market growth might be hindered by the high cost of dry construction materials.
The Key Players in the dry construction market include Etex (Belgium), Saint-Gobain (France), Xella Group (Germany), Georgia-Pacific (US), Radman's Building Services (Croatia), Knauf Gips KG (Germany), Beijing New Building Materials Public Limited Company (China), and USG Boral (Singapore), Dry Construction Limited (UK), PABCO Gypsum (US), Winstone Wallboards Limited (New Zealand), SIAMATRAS (Greece), and AWI Licensing LLC (Pennsylvania) are some other players operating in the global dry construction market.
Global Dry Construction Market: Segmentation
The global dry construction market has been segmented based on material, type, system, and application. On the basis of material, the market has been segmented into plasterboard, metal, plastic, wood, and others. The plasterboard segment held the largest market share of the global dry construction market in 2018; it is expected to witness the highest CAGR during the forecast period. Its largest share is attributed to the light weight, superior aesthetics, flexibility, and the durability of plasterboards.
On the basis of type, the market has been segmented into supporting framework and boarding. The supporting framework segment held the larger market share of the global dry construction market due to its properties, such as fire protection, sound installation, and stability.
On the basis of system, the market has been segmented into ceiling system, wall system, flooring system, and others. The ceiling system segment held the largest market share of the global dry construction market due to water resistant property, superior aesthetic appeal, and ease of installation.
On the basis of application, the market has been segmented into residential and non-residential. Non-residential segment is further segmented into office spaces, hospitals & healthcare centers, hotels & restaurants, educational institutes, public utilities, and industrial. The residential segment held the larger market share of the global dry construction market due to the rise in various construction projects, mainly in emerging countries.
An increase in the global foreign direct investment (FDI) inflow in the construction industry, across the globe, has led to an increase in construction projects as well as it has enabled real-estate development. Such factors collectively drive the global dry construction market.
Global Dry Construction Market: Regional Analysis
The global dry construction market has been segmented into the regions of North America, Europe, Asia-Pacific, and Rest of the world (RoW). Asia-Pacific held the largest share of the global dry construction market in 2018, followed by North America.
The growth of the construction industry with the growth of population and the rising per capita disposal income, are anticipated to drive the dry construction market in this region. There has been an increase in the need for corporate spaces, hotels, shopping malls, schools, hospitals, and others in Asia-Pacific, which adds to the growth. The growing market for dry construction in countries such as China, India, and Japan are expected to contribute significantly in the Asia-Pacific market.
The global dry construction market is fairly competitive with a moderate number of players, across the globe. The players are expected to adopt various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include focus on high quality product, cost-effectiveness, expansions, strategic partnerships and collaborations with the manufacturing companies.
|Market Size||USD 102.8 Billion (2017)|
|CAGR||5.1 % (2020 - 2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Material, Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Etex (Belgium), Saint-Gobain (France), Xella Group (Germany), Georgia-Pacific (US), Radman's Building Services (Croatia), Knauf Gips KG (Germany), Beijing New Building Materials Public Limited Company (China), and USG Boral (Singapore). Dry Construction Limited (UK), PABCO Gypsum (US), Winstone Wallboards Limited (New Zealand), SIAMATRAS (Greece), and AWI Licensing LLC (Pennsylvania)|
|Key Market Opportunities||Investments in the research and development|
|Key Market Drivers||Revolutionize in end-user preference toward sustainable building techniques and promotions of green technology by regulatory bodies in the construction sector.|
Frequently Asked Questions (FAQ) :
Dry construction market is projected to grow at a 5.1% CAGR between 2020-2027.
The APAC region is expected to dominate the dry construction market.
The residential segment will dominate the dry construction market.
Specific strategies that industry players have incorporated to create a niche in the dry construction market include collaborations, mergers, and product launches.
High cost may limit market growth.