Saudi Arabia Drywall Panels Market to Grow at a CAGR of 5.0% to reach US$ 304.43 million from 2020 to 2028

The Saudi Arabia drywall panels market was valued at US$ 207.70 million in 2020 and is projected to reach US$ 304.43 million by 2028; it is expected to grow at a CAGR of 5.0% from 2021 to 2028.

Drywall panels, also known as plasterboard or wallboard, are panels made of gypsum (calcium sulfate dehydrate) and is used in the construction industry. They are sometimes manufactured with additives in order to enhance their properties and add features such as fire resistance, water resistance, and mold resistance. Growth of theThe increasing construction activities in Saudi Arabia has significantly contributed towardsdrives the growth of the drywall panels market in Saudi Arabia.
 
TCOVID-19 first began in Wuhan (China) in December 2019, and since then, it has spread across the globe. he chemicals & materials is one of the world's major industries suffering serious disruptions such as supply chain breaks, and office shutdowns as a result of the COVID-19 outbreakthis outbreak. Moreover, due to the increased number of COVID-19 confirmed cases and the reinstatement of lockdowns following an initial easing, as well as uncertainty about the government's ability to cover its oil revenue losses and stabilize its debt burden in the short term, the Saudi Arabia drywall panels market is expected to facinge some various challenges to curb the pandemic and stabilize its economy. The Saudi government's revenues will are expected to sdecreaseuffer because of low oil prices in coming years, which is most likely to influence the government's economic spending program plans and all mega infrastructure projects in the pipeline. This, in turn, will would also negatively affect the drywall panels market in Saudi Arabia. COVID-19 outbreak has had a major impact on construction projects in Saudi Arabia. Construction project participants are having difficulty in moving projects forward and resolving claims resulting from on-site suspensions, delays, and extra costs. Although some building contracts have already been terminated as a result of the pandemic, several others are currently being renegotiated. To mitigate the negative effects of COVID-19the COVID-19 outbreak, parties have begun to seek solutions and common ground by compromising on their legitimate claims. On December 23, 2020, the General Panel of the Supreme Court of the Kingdom of Saudi Arabia issued a decision (KSA Supreme Court's General Assembly, Decision n° 45/m of 08/05/1442 A.H) regarding the effect of COVID-19 on construction contracts (KSA Supreme Court's General Assembly, Decision n° 45/m of 08/05/1442 A.H). The Supreme Court's decision offers guidelines on how the principle of good faith in contract performance can be applied in compliance with Sharia Law. Under the new decision, construction contracts regulated by Saudi Arabian law can now be amended by Saudi Arabian courts without the parties' consent under some situations. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the travel bans and lockdowns imposed across Saudi Arabia are adversely affecting business collaborations and partnership opportunities. All these factors are anticipated to affect thehindering industries in a negative manner, and thus, act as which a is restraining factor for the growth of various markets related to the drywall panels market in the coming months. This is likely to impact the chemicals & materials industry in Saudi Arabia as, due to the COVID-19 outbreak, the supply chain is likely to get affected. In addition, the disruptions in overall manufacturing processes, research, and development activities will are also negatively impacting the Saudi Arabia drywall panels market growth.
 

Market Insights

Applications of Drywall Panels

Based on application, the Saudi Arabia drywall panels market is segmented bifurcated into residential and non-residential. The residential segment led the market with the a largerst share in 2020. Key factors such as Growing growing urban population as well asand increasinge in  demand for aesthetically enhanced materials in building architecture are the key factors supporting the developments in the residential sector. Moreover, rise in the number of home improvements and renovation projects is bolstering the demand for drywall panels in residential applications and. Furthermore,  an increase in the number of construction projects, —including commercial and residential construction, —in Saudi Arabia is are bolstering the demand for drywall panels in residential applicationsexpected to boost product demand in the coming years.
 

Type Insights

Based on type, the Saudi Arabia drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. The regular segment led the market with the largest share in 2020. Regular drywall is a plain drywall with no special features. The absence of additional features does not make it a substandard type, and it is, thus, a widely used product. Regular drywall is naturally fire retardant, as water molecules in the gypsum impede the spread of flames; . howeverHowever, this drywall type is not treated with other materials enhancing its fire resistance property. The regular drywall products are white on one side and brown on the other. It is the most cost-effective drywall type and is available in a variety of thickness options, ranging from 3/8th of an inch to one inch., whereas t The most commonly used product of this type is typically available in 4/8-foot panels.
  

                                              Saudi Arabia Drywall Panels Market, by Type – 2020 and 2028

 

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Saudi Arabia Drywall Panels Market: Strategic Insights

Saudi Arabia Drywall Panels Market

• Market Size 2020
  US$ 207.70 Million
• Market Size 2028
  US$ 304.43 Million

Market Dynamics

GROWTH DRIVERS

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FUTURE TRENDS

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OPPORTUNITIES

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Regional Overview

• Saudi Arabia

Market Segmentation

Type

• Regular
• Moisture-Resistant
• Plaster Baseboard
• Paperless
• Type X

Application

• Residential
• Non-Residential

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A few key market players operating in the Saudi Arabia drywall panels market are IKK Group of Companies, Mada Gypsum, EL-Khayyat Gypsum Factor, United Mining Industries, Knauf Gips KG, National Gypsum Company, Sinar, Al Watani Gypsum Co. Ltd., USG Corporation, and Saint Gobain S.A. Major players in the market are focusing on strategies such as mergers and acquisitions and product launches to expand their geographical presence and consumer base across Saudi Arabia.  

Report Spotlights

• Progressive industry trends in the Saudi Arabia drywall panels market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the Saudi Arabia drywall panels market from 2018 to 2028
• Estimation of the demand for Saudi Arabia drywall panels across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for Saudi Arabia drywall panels  
• Market trends and outlook coupled with factors driving and restraining the growth of the Saudi Arabia drywall panels market
• Decision-making process by understanding strategies that underpin commercial interest regarding Saudi Arabia drywall panels market growth
• Saudi Arabia drywall panels market size at various nodes of market
• Detailed overview and segmentation of the Saudi Arabia drywall panels market as well as its dynamics in the industry
• Saudi Arabia drywall panels market size in various regions with promising growth opportunities

Saudi Arabia Drywall Panels Market, by Type

• Regular
• Moisture-Resistant
• Plaster Baseboard
• Paperless
• Type X
• Others

Saudi Arabia Drywall Panels Market, by Application

• Residential
• Non-Residential

Company Profiles

• IKK Group of Companies
• Mada Gypsum
• EL-Khayyat Gypsum Factor
• United Mining Industries
• Knauf Gips KG
• National Gypsum Company
• Sinar
• Al Watani Gypsum Co. Ltd.
• USG Corporation
• Saint Gobain S.A.

Saudi Arabia Drywall Panels Market Report Scope