Dry Construction Market is projected to be worth USD 87,019.71 Million by 2030, registering a CAGR of 4.90% during the forecast period (2022 - 2030).
The dry construction market size is expected to expand on a global scale at a CAGR of 4.90%. During the historic forecast period that ended in 2019, the global market was valued at a final figure of USD 77.7 billion. For the ongoing forecast period of 2022-2030, the global market is expected to reach a final market value that accounts for USD 87019.71 Million by the end of the period in 2030.
Dry construction can be understood as a specialized method of construction, based on the use of industrially prefabricated construction systems. It is a considerable option as it is a quick, safe, and quality construction assembly, which does not require any additional time for drying. There has been a huge and reliable rise in the demand for dry construction due to urbanization and industrial growth, across the world, during the historic forecast period that had ended in 2019. Dry construction is being widely adopted in the construction of offices, homes, and other structures.
The dry constructions market has been deeply impacted and has witnessed a negative impact on the product demand in recent months owing to the lockdowns imposed in the majority of the countries due to the outbreak of the novel COVID-19 in December 2019 followed by the rising cases in the international scale in 2020. Several market countries, including the prominent ones like Italy, the U.S., and India, as a part of the market have witnessed curfew-like situations where businesses except for the essential services with minimal workforce were not allowed to carry their operations. Besides, the impact of the COVID-19 outbreak has also resulted in a slowed down the growth of the construction industry in recent months, which is causing delays, and the same can be attributed to several disrupted demand and supply chains. Most of the construction projects were temporarily shut down by the restrictions imposed in recent months for the prevention of the spread of COVID-19. The factors that are mentioned above have significantly impacted the demand for dry construction in the last few months. The dry construction market producers and manufacturers and the overall construction industry are expected to face several challenges as most of the construction projects are likely to be left incomplete, at a halt, or be delayed because of supply chain disruptions, cash flow constraints, unavailability of the workforce, and production shutdown introduced by the pandemic.
The most prominent major key players in the dry construction market all across the globe are mentioned below:
The major key players of the dry construction market size are witnessing the use of various strategies to sustain their market position in the dry construction market by taking up many steps for the expansion of the dry construction market all across the globe during the forecast period that ends in 2030.
There has been a significant demand for infrastructure in hospitals and other medical facilities centers like laboratories, shipping, logistics, and others like healthcare centers, clinics, and others owing to the outbreak of the pandemic. Some of the market countries are moderately functioning after the arrival of the pandemic and hence, this is likely to create a demand for the global dry construction market products and equipment. There has been a rapid infrastructural development that is being coupled with the availability of business capital investments in emerging economies, including China and India of the APAC region, which has propelled the demand for dry constructions.
The sudden arrival of the pandemic has been witnessed to have a huge impact on the infrastructure and construction sector which is one of the major demandants of the global dry construction market for the ongoing forecast period. There is a wide range of restraints and challenges that are present in the way of the development and expansion of the dry construction industry. There is a huge degree of uncertainty regarding the trends belonging to the recovery period after the outbreak of the pandemic which is hampering the confidence of the market buyers and investors to fund and invest. The dry construction market companies are also facing losses due to the unavailability of investment which is hampering their ability to meet the rising audience needs and creating issues for their expansion goals.
There has been a recognized degree of use of the technological developments and advancements that is a result of the rise in investments and funding and owing to their huge employment in infrastructure projects and mega construction systems. The market for dry construction has witnessed moderate growth in the past couple of years, as a part of the historic forecast period that ended in 2019. The demand for dry construction is further, 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 2020, and the forecast period for the global dry construction market is 2022 to 2030.
The dry construction market has been segmented because of the rising needs of the global target audience followed by the efforts that have been employed by the global market players. The global market segments are mentioned as follows:
The global dry construction market has been segmented region-wise and is functioning in 5 prominent regions in the global market premises. Out of these 5 propelling regions in the international dry construction industry, Asia-Pacific held the largest share of the global dry construction market during the historic forecast period that had ended in 2019, followed by North America.
The growth of the dry construction industry with the growth of population and the rising per capita disposal income is anticipated to drive the dry construction market in this region during the ongoing forecast period. These market trends further suggest that 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 participating regional countries such as China, India, and Japan is expected to contribute significantly to the Asia-Pacific market followed by the development of trends in North American countries like the US and Canada.
This global dry construction market research report consists of the following components mentioned below:
The dry construction market research report discusses the market factors that either positively have an impact on the market growth or might give rise to challenges that might hamper the market as per the growth predictions for the period that will be ending in 2030. The report helps in studying the impact of the pandemic outbreak and hence, the performance of the market segments that enhance the revenue quantum for the market from 2022 to 2030.
|Market Size||2030: USD 87019.71 Million|
|CAGR||4.90 % (2022 - 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|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.|
The dry construction market is projected to grow at a 4.90% CAGR between 2022-2030.
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.