India Gypsum Plaster Market to Register Significant Growth through 2026
Introduction of 100% Foreign
Direct Investment (FDI) for gypsum products to drive India gypsum plaster
market
According
to TechSci Research report, “India
Gypsum Plaster Market By Application (Red Bricks, Concrete Blocks, RCC
Surface, Sand Cement), By Packaging Size (Up to 5 Kg, 5-10 Kg, 10-20 Kg, 20-25
Kg, Above 25 Kg), By End Use (Residential, Offices , Retail, Industrial,
Schools, Transport, Hospitality, Hospitals, Others), By Region, Forecast & Opportunities,
FY2026”, the market is anticipated to witness substantial growth
during the forecast period. Key factors propelling the growth of India gypsum
plaster market include robust infrastructural growth, thriving cement industry
and increasing demand for ceramic products. The Indian government has
introduced 100% Foreign Direct Investment (FDI) for gypsum products, which is
acting as a major driving force for India gypsum plaster market. The increased
FDI inflows in gypsum market has brough a significant growth in gypsum plaster
market in the past few years. Furthermore, innovations and new trends across
construction industry has led to increasing traction of gypsum plaster in
Indian market. Also, the advantage of gypsum plaster over conventional
plastering methods like sand cement plastering is augmenting the market growth.
Moreover, the excellent insulation properties of
gypsum plaster are serving as a key growth factor for this market. In addition
to this, growing tourism sector which tends to increase the demand for hotels
and commercial complexes, is also expected to drive the India gypsum plaster market
in coming years. Furthermore, growing requirement for less time-consuming
plastering methods is also fostering the growth of India gypsum plaster market.
However, gypsum plaster is expensive when compared to cement line plasters,
which is acting as a restraining factor for market growth. Also, gypsum
plasters are soluble in water and hence cannot be used for the purpose of
external finishing. This is likely to hamper the market.
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India
gypsum plaster market is segmented based on application, packaging size, end
use and zone. Based on end use, the market can be segmented into residential,
offices, retail, industrial, schools, transport, hospitality, hospitals and others.
Among them, residential sector witnessed significant CAGR in FY2019 and is
further expected to dominate the market growth through FY2026, which can be
attributed to rising demand for housing across all regions, leading to rapid
construction activities. Moreover, gypsum plaster when combined with water, becomes
malleable and easy to shape. This is why builders and construction companies are
increasingly preferring to use gypsum plasters for molding of interior design
elements and sculptural forms.
Major players operating in the India gypsum
plaster market include JK Lakshmi Cement Ltd, Saint-Gobain Gyproc India, Sakarni
Plaster (India) Private Limited, Shriram Cement Works, TMC Gypsum India Ltd, Walplast
Products Pvt. Ltd., India Gypsum Pvt Ltd, Kaya Maya Industries, V V Paiint and TMC
Gypsum India Ltd. The companies are undergoing growth strategies such as
partnerships, mergers & acquisitions and joint ventures in order to
increase their market share in India gypsum plaster market.
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“The increasing
per capita disposable income in India and rising expenditure on housing and infrastructure
development is creating huge growth opportunities for gypsum plaster
manufactures. Along with this, increasing expenditure on rebuilding and
renovation, coupled with rise in demand for plasterboards is expected to foster
the growth of India gypsum plaster market. The companies are also investing on
product improvement, which is creating increasing demand for gypsum plasters,
especially in construction industry,” said Mr. Karan Chechi, Research Director
with TechSci Research, a research based global management consulting firm.
“India Gypsum Plaster Market By Application (Red
Bricks, Concrete Blocks, RCC Surface, Sand Cement), By Packaging Size (Up to 5
Kg, 5-10 Kg, 10-20 Kg, 20-25 Kg, Above 25 Kg), By End Use (Residential, Offices
, Retail, Industrial, Schools, Transport, Hospitality, Hospitals, Others), By Region,
Forecast & Opportunities, FY2026” has
evaluated the future growth potential of India gypsum plaster market and
provides statistics & information on market size, structure and future
market growth. The report intends 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 in India gypsum plaster market.
Contact
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