India Gypsum Plaster Market to Register Significant Growth through 2030
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,
2030”, India gypsum plaster market was valued INR 440.36 crore in
2020 and is forecast to reach INR 612.95 crore, growing at a CAGR of 5.81%
during the forecast period. Anticipated growth in the market can be attributed
to introduction of 100% Foreign Direct Investment (FDI) for gypsum products by
Indian government coupled with rapid infrastructural activities in the country.
The growing requirement for less time consuming plastering methods is also
acting as a key growth driver for this market as gypsum plaster takes less
curing time, when compared to other conventional plasters. Moreover, use of
gypsum plaster aids to faster construction, reduce POP cost, and reduction in electricity cost. This kind
of plaster carries high thermal insulation feature, thereby can help in
reducing structural load of building and save energy cost.
Additionally, increasing per capita disposable income
of India is leading to rising expenditure on housing and infrastructure
development. This is expected to provide huge growth opportunities for gypsum
plaster manufactures. Furthermore, boost in tourism sector which tends to
increase the demand for hotels and other commercial complexes is also
anticipated to drive the growth of India gypsum plaster market in coming years.
However, the market is also facing some challenges. High cost of gypsum
plasters when compared to cement line plasters is hampering the market growth.
Apart from this, gypsum plasters are soluble in water and which makes them not
suitable for external finishing.
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India
gypsum plaster market is segmented based on 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 these, residential sector is expected to undergo
rapid growth in the market through 2030 owing to increasing demand for housing
across all regions. Furthermore, builders and construction companies are
increasingly preferring to use gypsum plasters for molding of interior design
elements and sculptural forms as gypsum plaster when combined with water,
becomes malleable and easy to shape.
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.
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“South
zone is the dominant zone in India gypsum plaster market accounting for a share
of 35% in 2020, due to more usage of gypsum plaster in this zone. Use of gypsum
plaster in the south zone is growing owing to the ongoing infrastructural
projects in the zone, with major focus towards getting high strength, high
ductility and fire proofing of the application area.,” 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, 2030” 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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