Canada Drywall Market Outlook
According to the report by Expert Market Research (EMR), the Canada drywall market size attained a value of USD 1,308.90 million in 2023. Aided by the booming construction industry and the rising demand for residential and commercial buildings, the market is projected to further grow at a CAGR of 6.6% between 2024 and 2032, reaching a value of USD 2,184.25 million by 2032.
Drywall, also known as plasterboard or gypsum board, is a panel made of calcium sulfate dihydrate (gypsum), with or without additives, typically extruded between thick sheets of facer and backer paper. It is used globally as a construction material for interior walls and ceilings. Drywall’s ease of installation and finishing has made it a preferred choice in the construction industry.
Key Drivers of Market Growth
The growth of the Canada drywall market is primarily driven by the robust construction industry in the country. With an increasing number of residential, commercial, and infrastructure projects, the demand for drywall as a cost-effective and efficient building material is on the rise. The residential construction sector, in particular, is witnessing significant growth due to urbanization, population growth, and government initiatives aimed at affordable housing.
Moreover, the trend towards renovation and remodeling of existing buildings is contributing to the market expansion. Homeowners and businesses are increasingly investing in upgrading their interiors, which often involves the installation of drywall for creating new walls, partitions, and ceilings.
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Industrial Applications
The expanding applications of drywall in various industries also play a significant role in propelling the market. In the healthcare industry, drywall is used in the construction of hospitals and clinics due to its hygienic properties and ease of maintenance. The hospitality industry utilises drywall for its aesthetic appeal and quick installation, which are essential in the construction of hotels and resorts. Moreover, the increasing trend of office space renovations and retrofitting has led to a higher demand for drywall in the commercial sector.
Technological Advancements and Innovations
Technological advancements in drywall production and installation processes are also playing a crucial role in the Canada drywall market growth. Innovations such as lightweight drywall, fire-resistant panels, and moisture-resistant boards are gaining popularity among builders and contractors. These advanced products offer enhanced performance characteristics, such as improved fire safety, sound insulation, and durability, making them suitable for a wide range of applications in both residential and commercial settings.
In addition, the development of sustainable and eco-friendly drywall products is gaining traction. Manufacturers are increasingly focusing on reducing the environmental impact of drywall production by using recycled materials and adopting energy-efficient manufacturing processes. The growing awareness of sustainability and green building practices is expected to drive the demand for environmentally friendly drywall products in the coming years.
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Canada Drywall Market Segmentation
The market can be divided based on by type, by application, and region.
Breakup by Type
- Standard
- Fire-Resistant
- Mould/Moisture Resistant
Breakup by Application
- Residential
- Commercial
Breakup by Region
- Northern Canada
- British Columbia
- Alberta
- The Prairies
- Central Canada
- Atlantic Canada
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the Canada drywall market. Some of the major players explored in the report by Expert Market Research are as follows:
- CGC Inc.
- CertainTeed
- Georgia-Pacific LLC
- Gold Bond Building Products, LLC.
- Envirowall Partition Systems Limited
- Armstrong World Industries, Inc.
- Others
Challenges and Opportunities
Despite the positive outlook, the Canada drywall market faces several challenges. One of the primary challenges is the volatility in raw material prices, particularly gypsum. Fluctuations in the cost of raw materials can impact the profitability of manufacturers and lead to pricing pressures in the market.
Additionally, labor shortages in the construction industry pose a challenge to the efficient installation of drywall. Skilled labor is essential for ensuring the quality and durability of drywall installations. Addressing this issue through training programs and workforce development initiatives will be crucial for sustaining market growth.
However, the Canada drywall market also presents numerous opportunities for growth. The increasing focus on sustainable construction practices and green building certifications is creating a demand for eco-friendly drywall products. Manufacturers can capitalize on this trend by developing innovative products that meet environmental standards and appeal to environmentally conscious consumers.
Furthermore, the rise of smart homes and advanced building technologies is driving the need for drywall products that offer enhanced performance characteristics. Fire-resistant, soundproof, and moisture-resistant drywall products are becoming increasingly important in modern construction, providing manufacturers with opportunities to diversify their product portfolios and cater to evolving market needs.
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