Recent Developments in the Plasterboard Market in Asia-Pacific region
Recent Developments in the Plasterboard Market in Asia-Pacific region
The Asia-Pacific region is experiencing a rapid growth in the plasterboard market, driven by factors such as urbanization, infrastructure development, and increasing demand for modern construction materials. Some recent developments in the Asia-Pacific plasterboard market are as follows:
In December 2023, Etex Group acquired BGC’s lightweight construction materials, including gypsum products and fiber cement, in Australia. This deal includes BGC’s large plasterboard plant in Perth and a network of warehouses across Australia and New Zealand, strengthening Etex’s position in the Asia-Pacific market.
In October 2023, Georgia-Pacific opened a new gypsum wallboard facility in Sweetwater, Texas, marking the company’s first new build since 2004. This $325 million facility aims to enhance safety, quality, and operational efficiency, showcasing Georgia-Pacific’s commitment to innovation and leadership in the construction materials industry.
The Asia-Pacific gypsum board market size was estimated at USD 18.4 billion in 2023 and is projected to grow at a CAGR of 14.0% from 2024 to 2030.
The Asia-Pacific region is poised to lead the gypsum-based plasterboard market and alternatives, with countries like China, India, and Southeast Asian nations witnessing significant growth in construction activities.
The Asia-Pacific Plasterboard Market size is projected to grow at a compound annual growth rate (CAGR) of 9.48% from 2024 to 2031.
Regulations and Standards
Regulations significantly shape the gypsum board market in the Asia-Pacific region, with various countries implementing specific laws and standards to ensure quality, safety, and environmental compliance.
China has strict regulations under the GB/T 9775 standard, which sets comprehensive criteria for the physical and mechanical properties of gypsum boards.
India’s Bureau of Indian Standards (BIS) prescribes IS 2095 standards, mandating specific requirements for different types of gypsum boards.
Japan’s Building Standards Law imposes stringent fire-resistance requirements on construction materials, including gypsum boards, to enhance building safety in earthquake-prone regions.
Australia’s National Construction Code (NCC) incorporates regulations that promote the use of eco-friendly and sustainable materials, pushing the gypsum board market towards greener production practices.
The Asia-Pacific region’s plasterboard market is expected to continue its growth trajectory, driven by ongoing urbanization, infrastructure development, and the increasing adoption of modern construction materials.
