India Gypsum Plaster Market is Expected to Register a 6.13% CAGR Through 2030
Rapid Urbanization & Infrastructure Development and Government
Initiatives & Regulatory Support are likely to propel the market during the
forecast period.
According to
TechSci Research report, “India Gypsum Plaster Market – By Region,
Competition, Forecast and Opportunities, 2020-2030F”, India Gypsum Plaster Market was valued at USD 55.98
Million in 2024 and is expected to reach USD 80.71 Million by 2030 with a CAGR
of 6.13% during the forecast period.
The
ongoing trend of rapid urbanization in India is one of the primary drivers of
the growing demand for gypsum plaster in the country. India is experiencing
significant growth in its urban population, with millions of people migrating
from rural to urban areas in search of better employment, education, and living
conditions. According to various reports, India’s urban population is projected
to surpass 600 million by 2031, making it one of the fastest urbanizing nations
in the world. This massive migration is fueling the need for residential,
commercial, and industrial buildings, which in turn increases the demand for
construction materials like gypsum plaster.
Urbanization
is not only expanding cities but also driving the development of new towns and
infrastructure projects. The Indian government is focusing on large-scale urban
infrastructure initiatives, such as smart cities, affordable housing projects,
and commercial hubs, through schemes like "Housing for All" and the
"Pradhan Mantri Awas Yojana." These large-scale projects are creating
a significant demand for building materials that provide durability, aesthetic
appeal, and quick application. Gypsum plaster, with its smooth finish and fast
setting properties, has become a preferred choice in modern construction.
Additionally, the rise in infrastructure development across sectors such as
healthcare, education, and retail is further propelling demand. The construction
of hospitals, schools, shopping malls, and office complexes requires
high-quality finishing materials to enhance both the aesthetics and
functionality of buildings. Gypsum plaster not only offers superior finishing
but also contributes to the structural integrity and fire resistance of the
buildings.
As
urbanization continues to accelerate, the demand for gypsum plaster is expected
to grow steadily, making it a significant driver in the India Gypsum Plaster
market. The material's eco-friendly and cost-effective properties also make it
a viable solution in sustainable construction practices, which is a growing
concern in India's urban development.
Browse over XX Market
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Based
on End User, The Residential held the largest market share in 2024. The residential sector dominates the India
Gypsum Plaster market due to several key factors, including rapid urbanization,
growing demand for affordable housing, and the increasing preference for
superior finishes and construction materials in homes. As India experiences a
surge in urbanization, with millions of people migrating to cities, the need
for new residential buildings continues to grow. This urban migration is
fueling the demand for high-quality and cost-effective building materials,
where gypsum plaster has emerged as a preferred solution due to its numerous
benefits.
Gypsum
plaster is widely favored in the residential sector because of its smooth
finish and easy application, which enhances the aesthetic appeal of homes. It
provides a better surface for paint and other decorative finishes compared to
traditional cement-based plasters. Additionally, gypsum plaster offers
excellent thermal insulation properties, helping to maintain comfortable indoor
temperatures in residential buildings, particularly in regions with extreme
climates.
The
government's focus on affordable housing schemes, such as "Housing for
All," has further accelerated the demand for gypsum plaster in residential
construction. These initiatives aim to meet the growing housing needs of the
middle-income and lower-income segments, where cost-effectiveness and
durability are critical factors. Gypsum plaster's ease of application and quick
drying time make it an ideal choice for builders working on large-scale
residential projects, allowing for faster construction timelines and lower
labor costs. Furthermore, the increasing
awareness about eco-friendly and sustainable construction materials is driving
the adoption of gypsum plaster in residential buildings. Gypsum plaster is a
greener alternative to cement-based products, as it is made from a naturally
occurring mineral and has a lower carbon footprint.
Based
on region, North India is the fastest-growing region in the India Gypsum
Plaster market due to several factors, including rapid urbanization,
infrastructure development, and the region’s increasing focus on sustainable
construction practices.
One
of the primary drivers of growth in North India is the region’s fast-paced
urbanization. Major cities such as Delhi, Chandigarh, Jaipur, and Lucknow are
witnessing a significant influx of people from rural areas, resulting in a
surge in demand for residential, commercial, and industrial buildings. This
urban expansion is coupled with the government's focus on affordable housing
schemes like “Pradhan Mantri Awas Yojana” and smart city projects. These
initiatives have spurred construction activity, leading to a higher demand for
efficient and high-quality building materials, including gypsum plaster. The
preference for gypsum plaster, due to its ease of application, smooth finish,
and cost-effectiveness, has made it a preferred choice in these growing urban
areas. Furthermore, North India’s real estate sector is increasingly adopting
modern construction methods, including the use of pre-fabricated and modular
building systems. These methods require materials like gypsum plaster, which
offer quick application and superior finishes. The region's growing demand for
commercial spaces, healthcare facilities, and educational institutions also
contributes to the increasing adoption of gypsum plaster.
The
region’s commitment to sustainability and energy-efficient construction is
another factor driving market growth. With environmental awareness rising,
builders in North India are seeking eco-friendly alternatives to traditional
building materials. Gypsum plaster’s low carbon footprint, moisture regulation
properties, and recyclability align well with the region’s focus on green
building practices, contributing to its growing demand.
Major companies
operating in the India Gypsum Plaster Market are:
- Tata Steel Limited
- Masco Corporation
- Fermacell GmbH
- Sika AG
- Boral Limited
- USG Corporation
- Holcim Ltd.
- Etex Group
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“The India Gypsum Plaster market presents
significant opportunities driven by rapid urbanization, infrastructure
development, and the growing demand for sustainable construction materials.
With increasing adoption of eco-friendly building practices, gypsum plaster is
well-positioned to cater to the need for energy-efficient, low-maintenance, and
high-quality finishes. Additionally, the rise of modular and pre-fabricated
construction, along with government initiatives supporting affordable housing,
offers considerable growth potential. The market also benefits from innovations
in ready-mix and moisture-resistant gypsum plaster, expanding its application
across various residential, commercial, and industrial projects, ensuring
long-term demand and profitability for industry players.”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based
management consulting firm.
“India Gypsum Plaster
Market, By Application (Red Bricks, Concrete Blocks,
RCC Surface, Sand Cement), By Packaging Size (Less than 10 Kg, 10-20 Kg, 20-25
Kg, Above 25 Kg), By End User (Residential, Commercials, Infrastructure) By
Region, Competition, Forecast & Opportunities, 2020-2030F”, 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 make
sound investment decisions., The report also identifies and analyzes the
emerging trends along with essential drivers, challenges, and opportunities in the
India Gypsum Plaster Market.
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