India Gypsum Board Market Set to Surpass Billions by 2018-2028 – TechSci Research

According to TechSci Research report, “India Gypsum Board Market - By Region, Competition, Forecast & Opportunities, 2028”, India Gypsum Board Market is expected to rise in the upcoming year and is expected to maintain a high CAGR in the upcoming year.  Owing to that rising consumer expenditure on sophisticated building materials, combined with expanding demand from the residential construction industry would also fuel the product demand. The rising development residential building across the nation is predicted to result in a rise in gypsum demand during the anticipated timeframe. It is projected that as the notion of changing the aesthetic appearance of building structures gains more traction, the product will be used in more high-end construction projects. This is also because of the product’s wide range of state-of-the-art surface textures and patterns. Gypsum boards speed up, simplify, and reduce the cost of interior alterations and restorations, in comparison to traditional plaster and lath. Additionally, the construction industry and industrial settings are increasingly using specialised gypsum boards that are heat resistant.

With hundreds of high-rise buildings and more than 100 extremely tall buildings now under development, Indian metro areas are experiencing a tremendous construction boom. Many developers are erecting high-rise structures in residential and commercial locations around the country, due to the growth in land costs and lack of space in metropolitan regions. In India, the construction of new skyscrapers will increase demand for gypsum boards. By 2030, 50% of India's population is expected to live in urban regions, causing a lack of space that would provide tremendous opportunities for the growth of the gypsum board industry. As a result, the construction of further high-rise residential structures is essential. Based on Type, the Wall Board is the leading segment in the India Gypsum Board with a market share of 47.29% in 2022 & and is expected to grow at a CAGR of 9.48% between 2023-2028 because wallboards are widely accepted alternatives to plaster and lath. The demand for this market is also accelerating due to the rising interest in environmentally friendly building practices and the expansion of commercial development projects.

Browse over 42 market data Figures spread through 131 Pages and an in-depth TOC on the "India Gypsum Board Market." https://www.techsciresearch.com/report/india-gypsum-board-market/7966.html

For residential, commercial, and institutional buildings, wallboard is the best building material. In multi-family residential construction, they are frequently used in decorative and partitioning applications. The product's penetration in high-end construction applications is also likely to grow due to ongoing innovation. The key causes fueling the market for wall boards in India include favorable government policies and efforts including "Housing for All", "Smart Cities Mission," Pradhan Mantri Awas Yojana (PMAY), NTR Urban Housing Scheme, Deendayal Antyodaya Yojana, and National Urban Livelihoods Mission. In addition, the nation's wall board market is anticipated to be driven by rising urbanization and expanding infrastructure construction.

In terms of regional analysis, the India Gypsum Board Market is segmented into North, South, East and West. Construction, which accounted for around INR 3,16,34,915 Lakh of the South's GDP in 2021, is the main driver of the market's growth throughout the projection period. For instance, Tamil Nadu is seeing increased investment in infrastructure development. Through advancements in residential and commercial real estate, the state is taking strides to provide its citizens and tourists a cosmopolitan lifestyle. Because Chennai, the capital of Tamil Nadu, is a well-liked tourist destination, there is a larger need for development in the area, which raises the need for gypsum board.

Additionally, increasing the number of creative uses for products in the building sector would undoubtedly result in higher product demand. Market expansion is also being aided by the rising demand for residential building in the area. Furthermore, it is projected that the product will become more prevalent in high-end construction applications because of the growing tendency of making aesthetic improvements to building structures. The rise in the South area will also be fueled by growing demand for luxury residential real estate, significant urban migration in major countries, and increased government investment on residential construction.

Key market players in the India Gypsum Board Market include:

• Sakarni Plaster (India) Private Limited
• Everest Industries Ltd
• India Gypsum Pvt Ltd
• Saint-Gobain Gyproc India Ltd
• Vinayak Gypsum & Interiors Pvt. Ltd
• SCG International India Pvt Ltd
• Eros Minerock Products LLP
• Gypelite India Private Limited
• Gypcore India Pvt Ltd
• Knauf Gypsum India Private Limited
• Ocean International
• VANS Gypsum Pvt. Ltd

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“It is projected that as consumer spending on high-tech building materials in the residential construction sector rises, so will the product's demand. The product's ability to offer cutting-edge patterns and textures on its surface, along with the rising trend of enhancing the aesthetics of building structures, are two factors expected to increase the product's penetration in high-end construction applications. As a result, the market is anticipated to expand during the course of the projected period. In pre-engineered structures, gypsum is often used in applications for exterior walls and roofing (PEBs). The fact that it makes windows and doors easy to install while still providing protection, justifies its widespread usage in industrial structures. Pre-engineered buildings are highly portable and inexpensive. The Indian Prime Minister, Mr. Narendra Modi, launched an INR 100 lakh crore master plan for multi-modal connectivity in October 2021 with the intention of building infrastructure to lower logistic costs and stimulate the economy. The market is, therefore, anticipated to have a high CAGR. Hence, these factors are fuelling the market growth of the India Gypsum Board Market in the upcoming years”, Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting organization.

“India Gypsum Board Market, By Type (Wall Board, Ceiling Board, Pre-decorated Board, Others), By Thickness (1/2 inch, 5/8 inch, Other Thicknesses), By Application (Residential Sector, Commercial Sector, Institutional Sector, Industrial Sector), By Region, Competition, Forecast & Opportunities, 2028F”, has evaluated the future growth potential of India Gypsum Board Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the India Gypsum Board Market.

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