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.
Browse 10 market data Tables and 55 Figures spread through 113 Pages and an in-depth TOC on“India Gypsum Plaster Market”
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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.
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