The Global Dry Construction Market is prompted to record 5.01% CAGR during the forecast period, 2019-2025. The growth in the market can be measured with the rising factors from all corners of the globe to gather more valuation than USD 71.55 billion, which was back in 2018, in the forecast period.
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Top Impacting Factors
The dry construction market is mostly motivated by the rising industrialization & urbanization and escalating adoption of sustainable & lightweight construction practices by the construction industry. The governments of several developed nations, across the world, also support dry construction practices and have incorporated specific regulations concerning the same.
Dry construction has augmented its popularity in recent years in support of development in the construction sector with an elevated priority for interior design and fondness for low weight construction. Other than this, more factors such as rapid growth in the population and boost in alertness above dry construction materials have boosted demand for these materials across the globe and motivated global dry construction share to reach high in the coming years.
Besides, revolutionize in end-user preference toward sustainable building techniques and promotions of green technology by regulatory bodies in the construction sector are also highly anticipated to compel the global dry construction market during the forecast period. More significant drivers of the global dry construction market are also directed towards rapid urbanization, a surge in the adoption of lightweight construction practices, increase in construction activities, a penchant for improved housing technologies by end-users, lower setup cost as compared to wet construction, expansion in infrastructure activities as well as swelling in the penetration of dry construction in the industrial, residential, and commercial sectors. All these have profoundly benefited the market to expand in the coming years.
Furthermore, considerable support from regulatory bodies for dry construction has been fuelling the market for years. On the contrary, a leading limiting force of the global dry construction market growth is the removal of synthetic material from the waste of dry construction such as plastic, glass, and metal. Nonetheless, improvement in dry construction technology, new product development in prefabrication of dry construction, and association of market giants with builders for dry construction in the manifold project is highly anticipated to create momentous opportunities for the dry construction market in the forecast period.
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Segmentation of Market: Dry Construction
The global dry construction market in MRFR’s study has been segmented over the material, type, system, and application.
Based on the material type segment, the market has included metal, plasterboard, plastic, wood, and others. Among these, the plasterboard segment acquired the largest market share of the global dry construction market in 2018, and now it is estimated to witness the highest CAGR during the forecast period owing to the superior aesthetics, lightweight, durability, and flexibility, of plasterboards.
Based on the type segment, the market has included supporting framework and boarding. Among them, the supporting framework segment occupied the larger market share of the global dry construction market owing to its properties like sound installation, fire protection, and stability.
Based on the system segment, the market has included a wall system, ceiling system, flooring system, and others. The ceiling system segment occupied the largest market share of the global dry construction market owing to superior aesthetic appeal, water-resistant property, and ease of installation.
Based on the application segment, the market has included residential and non-residential. Among them, the non-residential segment has also included hospitals & healthcare centers, office spaces, educational institutes, hotels & restaurants, industrial and public utilities. The residential segment occupied the larger market share of the global dry construction market in support of rising various construction projects, popularly in emerging countries.
The global dry construction market has further been studied among regions of Europe, North America, Asia-Pacific, and the Rest of the world (RoW).
Among these regions, Asia-Pacific occupied the largest share of the global dry construction market back in the year 2018, while now has become one of the leaders of the market, depending on various factors. The growth of the construction industry with the growth of population and the rising per capita disposal income are the factors anticipated to drive the dry construction market in the Asia Pacific region. There has been a considerable surge in need for hotels, corporate spaces, schools, hospitals, shopping malls in Asia-Pacific, which adds to the growth. The growing market for waterproof construction in countries such as India, China, and Japan is likely to contribute significantly to the Asia-Pacific market.
Besides, the inclination for quality dry construction in-house products at low prices as compared to wet construction materials is highly anticipated to boost the dry construction market. Whereas, in the Middle East & Africa, a considerable surge in commercial and industrial construction activities is also anticipated to compel demand for dry construction materials in the near future. South America is also estimated to be a striking region of the dry construction market, in support of growth in the construction industry in the region.
Top Market Contenders
The top Players in the dry construction market are listed as Saint-Gobain (France), Etex (Belgium), Georgia-Pacific (US), Xella Group (Germany), Knauf Gips KG (Germany), Radman's Building Services (Croatia), USG Boral (Singapore) and Beijing New Building Materials Public Limited Company (China).
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