Drywall and building plaster’s growth in the building and construction industry can be accredited to the rise in residential construction and the repair of the old ones. The economic boost in residential households is also being held as one the major reasons.
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Owing to its superior characteristics as compared to cement concrete and ease of application, it is being regarded as a suitable alternative. Building plasters, on the contrary, will always be a notch up than the drywall at the share market though drywall is expected to register a faster CAGR in terms of value (around 42.3% share of the overall market By 2017-end).
Applications for drywall and building plaster are expected to remain sturdy in 2017 on, thanks to increasing residential and hospitality sectors. They are expected to contribute to the global market revenue significantly.
Asia Pacific’s market is estimated to dominate by 2025 due to growth in economic lifestyles and high growth rate & market size of the building construction market in India and China.