Impact of Covid-19 Outbreak on Dry Construction Market

30/lug/2020 07:16:18 Automotive Market Research Reports Contatta l'autore

Dry construction technology has in its core components such as wood, metal, plastic, and others. This moves away from the conventional methods of constructions such as with a mixture of bricks, concrete, or plaster. The global dry construction market is expecting a rise of 5% during the forecast period (2017-2023). The CAGR would depend mostly on the inclusion of developing countries, Market Research Future (MRFR) in their report suggests.

Several factors, such as the push from governments, easy availability, sturdiness, time-effectivity, and ecological concerns are features that can be considered driving factors for the global dry construction industry. People are now becoming more aware of ecological changes owing to which they are opting more such technologies. However, the dry construction market could be hindered by the cost factor. The cost to acquire components for such a type of construction is quite high. Along with it, the waste generated in the process gives birth to question disposal which can be a major restraining factor.

Segmental Analysis:

MRFR in their study of the global dry construction market reveals a detailed reading of segments. The segmentation is based on the basis of type, system, and material. This allows a microscopic view of the entire market for a better predictive analysis of it.

By type, the global dry construction market can be segmented into supporting framework and boarding. The supporting framework system is gaining substantial traction. Recent innovations in boarding can inspire the market for better growth.

Based on the system, the dry construction market includes wall, flooring, ceiling, and others. Research and developments from several companies are aiming at providing a much sturdier setup for all these segments to flourish.

Based on the material, the dry construction market comprises metal, wood, plastic, and others. In several countries, woods are a preferred choice. However, the growing intake of pre-fabricated materials is expected to provide the metal segment much thrust.

Regional Analysis:

The region-specific analysis of the dry construction market, as opined by MRFR, includes namely, North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW). The analysis is to provide insights regarding various growth pockets that can inspire the expansion possibilities for the market.

The APAC region is outpacing its peers as the rapid development in several countries is providing the market with needed-thrust. The region is witnessing a substantial change in economies of countries which is bolstering the demand for both urbanization and industrialization. Profound impacts can be scaled in terms of a shift in trends and uptakes of various time-saving methods in the construction industry. It is further getting traction due to the vast population that resides here. India, China, and Indonesia are emerging as major markets.

North America and Europe have already made their presence felt by adopting the technology to suit their constructional needs. Superior infrastructure and investment capacity are also helping these regions to strengthen their regional markets with substantial product innovation.

Competitive Landscape:

The global dry construction market is witnessing a surge in strategic implementation as the competition for market supremacy is gaining momentum. This includes companies such as Saint-Gobain S.A. (France), Xella Group (Germany), CSR Limited (Australia), Etex Group SA Group (Belgium), Fletcher Building (New Zealand), Armstrong World Industries, Inc (U.S.), Knauf (Germany), USG Boral (Malaysia), Pabco Gypsum (U.S.), Panel Rey S.A. (Mexico), and others. Their tactical moves include steps such as merger, acquisition, product launch, R&D, and others to better their individual stances and, in the process, take the market forward.

In April 2019, Siniat launched Securtex plasterboards with high-tensile glass scrim from Chomarat integrated into it, along with a gypsum core. This is the first of its kind plasterboard with a certificate from Loss Prevention Standard (LPS) 1175 and accredited by the Secured by Design Police Initiative. The formation would help in avoiding any accidental damage or intrusion. For owners, it would be easier to avoid any long-term costs.  

Note: The COVID-19 pandemic disruption is estimated to transform the XX market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the XX market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.

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