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.
New York, May 28, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Saudi Arabia Drywall Panels Market Forecast to 2027 - COVID-19 Impact and Country Analysis By Type ; and Application" - https://www.reportlinker.com/p06075761/?utm_source=GNW
Drywall panels, also known as plasterboard or wallboard, are made of gypsum (calcium sulfate dehydrate) and used in the construction industry.They are sometimes manufactured with additives to enhance their properties and add features such as fire resistance, water resistance, and mold resistance.
The increasing construction activities in Saudi Arabia drives the growth of the drywall panels market in Saudi Arabia.
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.However, 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. The most commonly used product of this type is typically available in 4/8-foot panels.
The 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 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 facing various challenges such as lack of resources and manpower, as well as construction projects facing delays.
The Saudi government’s revenues are expected to decrease because of low oil prices in the coming years, which is most likely to influence the government’s economic spending plans and all mega infrastructure projects in the pipeline.This, in turn, 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 the 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, the travel bans and lockdowns imposed across Saudi Arabia are adversely affecting business collaborations and partnership opportunities. All these factors are hindering industries, which is restraining the growth of various markets related to the drywall panels market. In addition, the disruptions in overall manufacturing processes, research, and development activities are negatively impacting the Saudi Arabia drywall panels’ market growth.
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. are among the major players operating in Saudi Arabia drywall panels market.
The overall Saudi Arabia drywall panels market size has been derived in accordance with to both primary and secondary sources.To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market.
Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Saudi Arabia drywall panels market.
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