The ‘Latin America Drywall Market Size, Share, Trends, Demand, Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the Latin America drywall market, assessing the market on the basis of its segments like type, application, and country.
Latin America Drywall Market Share, Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): USD 2.8 billion
- Forecast CAGR (2023-2028): 5.30%
- Forecast Market Size (2028): USD 3.81 billion
The Latin America drywall market is being driven by the thriving construction industry in the region and the rising demand for good quality construction components for improved finishing and functional capabilities. Increasing population, improvements in standards of living, and rapid urbanisation are augmenting the demand for drywall in residential construction. Drywall offers effective insulation and acts as a sound barrier, thereby reducing costs for HVAC systems and improving the quality of life for people within the space. It also gives a smooth finish, thereby improving the visual aesthetics of the space and can be installed quickly and easily, facilitating speedy completion of construction projects.
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The advantages of drywall such as lower structural weight, reduced need for labour, flexibility in architectural design, and resistance to fire are driving the drywall market in Latin America. The versatile nature of drywall and the different capabilities specialised drywall can support, such as fire resistance or moisture resistance, are further increasing the demand for drywall. Expansion of key market players in Latin America is anticipated to provide impetus to the growth of the Latin America drywall market in the coming years. With local supply chains and manufacturers, delivery times are significantly reduced, leading to greater usage of drywall in local construction and remodelling projects.
Latin America Drywall Industry Definition and Major Segments
Drywall, or gypsum board, is a type of building material in the shape of a board that comprises of layers of plaster, gypsum, heavy paper, and fibreboard that have been hard bonded together. It is commonly used in the construction of interior walls and ceilings and to create design features such as arches and eaves.
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Based on type, the market is divided into:
- Mould/Moisture Resistant
By application, the market is bifurcated into:
On the basis of country, the market is categorised into:
Growing remodelling efforts throughout the Latin America region is a key trend expected to influence the Latin America drywall market. Through the use of drywall, older buildings and structures can be quickly redesigned at lower costs, resulting in more aesthetically pleasing interiors. Development in the region and increasing focus on infrastructure development as well as tourism are also augmenting the demand for drywall in various commercial applications such as offices, hotels, malls, restaurants, and hospitals.
Innovations in product development as well as installation methods are additional trends in the Latin America drywall market. Research and development initiatives for drywall are aiming towards the development of lower cost drywall panels, sustainable production processes, and multi-faceted drywalls. The relatively hot and tropical climate of Latin America has heightened the demand for drywall that facilitate adequate insulation to maintain cooler temperatures indoors.
By country, Mexico occupies a sizable share of the drywall market in Latin America, supported by the nation’s considerable investments towards construction and increasing preference of construction companies towards drywall. Although drywall is considered to have higher initial costs as compared to traditional walls, their thermal insulation capabilities, particularly during hot weather, are increasing their acceptance. Expansion of drywall manufacturing plants in Mexico is also aiding the drywall market growth in Latin America.
Key Market Players
The major players in the Latin America drywall market report are Saint-Gobain Group, Etex Group, Trevo Drywall, Knauf Group, USG Corporation, Wacker Chemie AG, Georgia-Pacific Gypsum LLC, and Grupo Promax, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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