India Gypsum Board Market to Reach INR3811.65 Crore by 2027

PuPubblliishsheded:: AMparrichl 2021 2021 Published: June 2021 2015 – 2025 FY2017 – FY2027 2016 – 2026F 2017 – 2027 INDIA GYPSUM BOARD MARKET FORECAST ANDOPPORTUNITIES www.techsciresearch.com 1 MARKET INTELLIGENCE . CONSULTING

Table of Contents S. No. Contents 1. Product Overview 2. Research Methodology 3. Impact of COVID 19 on India Gypsum Board Market 4. Executive Summary 5. India Gypsum Board Market Overview 6. India Gypsum Board Market Outlook 6.1. Market Size & Forecast 6.1.1. By Value & Volume 6.2. Market Share & Forecast 6.2.1. By Type (Wall Board, Ceiling Board, Pre-decorated Board, Others) 6.2.2. By Thickness (1/2 inch, 5/8 inch, Other Thicknesses) 6.2.3 By Application (Residential Sector, Commercial Sector, Institutional Sector, Industrial Sector) 6.2.4. By Region 6.2.5. By Top 10 States 6.2.6. By Company (2021) 6.3. Market Map 7. India Gypsum Wall Board Market Outlook 7.1. Market Size & Forecast 7.1.1. By Value & Volume 7.2. Market Share & Forecast 7.2.1. By Thickness 7.2.2. By Application © TechSci Research 22

Table of Contents S. No. Contents 8. India Gypsum Ceiling Board Market Outlook 8.1. Market Size & Forecast 8.1.1. By Value & Volume 8.2. Market Share & Forecast 8.2.1. By Thickness 8.2.2. By Application 9. India Pre-Decorated Gypsum Board Market Outlook 9.1. Market Size & Forecast 9.1.1. By Value & Volume 9.2. Market Share & Forecast 9.2.1. By Thickness 9.2.2. By Application 10. Market Dynamics 10.1. Drivers 10.2. Challenges 11. Market Trends and Developments 12. Major Dealers of Gypsum Board in India 13. Import-Export Analysis 14. Pricing Analysis 15. Value Chain Analysis © TechSci Research 33

Table of Contents S. No. Contents 16. Voice of Customer 16.1. Brand Awareness & Brand Recall 16.2. Factors Considered while Selecting a Supplier/ or Influencing Purchase Decision 16.3. Customer Satisfaction Level 16.4. Major Challenges/Issues Faced Post Purchase of Gypsum Board 17. Policy and Regulatory Landscape 18. India Economic Profile 19. Company Profiles 19.1. Sakarni Plaster (India) Private Limited 19.2. Unity Gyptech Products 19.3. INDIA GYPSUM PVT LTD 19.4. Saint-Gobain Gyproc India Ltd. 19.5. Vinayak Gypsum & Interiors Pvt. Ltd. 19.6. Shubham Plasters 19.7. Eros Minerock Products LLP 19.8. Gypelite India Private Limited 19.9. Gypcore India Pvt Ltd 19.10. USG Boral Building Products India Private Limited 19.11. Ocean International 19.12. VANS Gypsum Pvt. Ltd. 20. Strategic Recommendations 21. About Us & Disclaimer © TechSci Research 44

Product Overview

Product Overview Product of Interest: Gypsum Board Gypsumboardisthetechnical product name used by manufacturers for a specific board with a gypsum core and a paper facing. It is widely used as a construction material in interior designing works. Gypsum board is used as surface material and its applications are prominent in wall and ceiling construction. Various types of gypsum boards are clued wallboard, backing board, core board, fire-resistant gypsum board, water-resistant gypsumboard,andgypsumformboard. Market Segmentation BY TYPE BY APPLICATION INDIA GYPSUM BOARD MARKET • Wall Board • Residential Sector Year Range • Ceiling Board • Institutional Sector • Pre-decorated Board • Industrial Sector • Others • Commercial Sector Review Period FY2017 – FY2020 BY THICKNESS BY REGION Base Year • 1/2 inch • North • 5/8 inch • East FY2021 • Other Thicknesses • West Estimated Year South FY2022 Forecast Period FY2023 – FY2027 © TechSci Research 66

Research Methodology

Research Methodology Market Formulating Developing List of Data Data Data Profiling Questionnaire Respondents Collection Validation Analysis In-depth secondary In order to conduct List of industry TechSci conducted Data obtained as a The data was scrutinized research was conducted to players and industry interviews with result of primary using MS-Excel, statistical determine top players, industry experts’ industry experts and tools and internal overall market size and interviews, TechSci specialists was and secondary proprietary database to segmental market size in formulated a detailed developed. industry players for research was obtain qualitative and India gypsum board discussion guide. data collection and validated through quantitative insights about market. verification. rigorous India gypsum board market. triangulation. Primary Research Desk Research Company Analysis ✓ Identifying Key Opinion ✓ Recent Developments ✓ Market Participants Data Data Filter Research & Actionable Business Leaders ✓ Market Changing ✓ Key Strengths Collection & Analysis Intelligence Insights Solution ✓ Questionnaire Design Aspects/Dynamics ✓ In-depth Interviews ✓ Government Policies ✓ Conclusion Primary Research Secondary Research Paid Sources ✓ LinkedIn ✓ Company Websites ✓ Factiva ✓ TechSci Internal ✓ Company Annual ✓ Hoovers Database Reports ✓ White Paper Study ✓ Financial Reports ✓ Investor Presentations ✓ Regulatory Body © TechSci Research 88

Research Methodology Baseline Methodology Our dedicated team of industry experts has monitored and analyzed various aspects of India gypsum board market. The team has analyzed the outlook of various segments of this market, while considering the major influencing factors and projected growth during the forecast period. The study includes market forecasting, which would enable our clients to take better decisions while planning their strategy to achieve sustainability in India gypsum board market. Methodology Followed for Calculation of Market Size: Market Size by Value & Volume: Market size, in terms of value & volume, for the year FY2021 was calculated based on information collected through exhaustive secondary research and primary surveys, with various key opinion leaders/stakeholders and industry experts. The team interviewed more than 20 companies, 50 industry experts and other value chain stakeholders in India gypsum board market to obtain the overall market size during FY2017-FY2021, which was validated by the Delphi technique. Taking standard deviation into consideration, the market size was averaged out, to arrive at the market size data for FY2017-FY2021. © TechSci Research 99

Research Methodology Respondents were asked about the current and future market growth rates, as well as market shares by type, by thickness, by application, by region, and by company. Removing the outlier responses, the geometric mean of growth estimates and provider wise revenue shares generated across various segments were considered to arrive at the final revenue shares. Revenue shares generated across various segments were further triangulated from other stakeholders depending upon the component. Methodology Followed for Calculation of Market Shares: Market shares by type, by thickness, by application, by region, and by company were calculated based on the responses received through primary surveys with industry experts, in which the respondents were asked about the market shares of the leading players in the India Gypsum Board Market. The final shares were calculated by taking the geometric mean of the responses gathered from key opinion leaders after eliminating the outliers. Moreover, respondents were asked about the leading companies operating and their competitive structure in India gypsum board market. Methodology Followed for Forecasting: TechSci Research performed periodical checks on data collected through the surveys with logical checks and analyzed the survey results in SPSS/Tableau Software. © TechSci Research 1010

Research Methodology Data triangulation techniques were applied to fill the gaps and to present a more meaningful picture of the market. To forecast India gypsum board market, TechSci Research used various forecast techniques such as: o Moving Average o Time Series Analysis o Regression Analysis o Econometric and Judgmental Analysis TechSci Research used its own forecast tool, which is based on the growth of various allied industries in respective regions. TechSci Research also used the impact analysis during short, medium and long term period to estimate and analyze market demand scenario. Sakarni Plaster (India) Private Limited, Unity Gyptech Products, INDIA GYPSUM PVT LTD., Partial List of Companies Saint-Gobain Gyproc India Ltd., Vinayak Gypsum & Interiors Pvt. Ltd., Shubham Plasters, Eros Interviewed Minerock Products LLP, Gypelite India Private Limited, Gypcore India Pvt Ltd, USG Boral Building Products India Private Limited, and Ocean International among others Partial List of Secondary Company Annual Reports, Press Releases, Industry Magazines, Industry Reports, Company Sources Websites, TechSci Research Proprietary Database & Knowledge Repository, etc. Note: (a) Sum of some shares may not be 100% due to round off till two decimal places. (b) The data given for any year represents the market during the period, i.e., 1st April of the previous year to 31st March of that year. eg: For 2022E, the data represents the period, 1st April 2021 to 31st March 2022. © TechSci Research 1111

Industry Brief According to TechSci Research report, “India Gypsum Board Market By Type (Wall Board, Ceiling Board, Pre-decorated Board, Others), By Thickness (1/2inch, 5/8inch, Other Thicknesses), By Application (Residential Sector, Commercial Sector, Institutional Sector, Industrial Sector), By Region, By Top 10 States, Competition Forecast & Opportunities, 2017-2027”, India gypsum board market was valued at INR2073.37 crore in 2021 and is projected to grow at a CAGR of 10.78% through 2027, to reach INR3811.65 crore by 2027. The growth in the gypsum board market can be attributed to the increasing demand from construction sector. Gypsum board is gaining traction as an alternative to conventional plastering process because of convenience, versatility and quality. Increasing awareness related to eco-friendly and safer construction material is bolstering the growth of the market. Indian metro cities are undergoing massive construction boom, with hundreds of high-rises and more than 100 super tall skyscrapers under construction. With surge in land prices and unavailability of space in urban areas, many developers are developing high rise buildings in Central Business Districts and residential areas across the nation. Upcoming skyscrapers are expected to accelerate the demand for gypsum boards in India. As 50% of India's population is expected to live in the urban areas by 2030, resulting in lack of space, constructing buildings is inevitable, which creates a vast opportunity of growth for gypsum boards market in the country in the upcoming period. India gypsum board market is segmented into type, thickness, application, regional distribution, and company. Based on type, the market can be segregated into wall board, ceiling board, pre-decorated board, and others. In 2021, wall board was the dominating segment by type in India Gypsum Board Market and accounted for a share of 51.69% owing to wide acceptance of wallboards as a substitute to plaster and lath. Also, increasing demand for sustainable construction and growing number of commercial construction projects are accelerating the demand for this segment. Based on application, the market can be segmented into residential sector, commercial sector, institutional sector, industrial sector. Surging demand for housing coupled with growing use of gypsum boards for molding of interior design elements and sculptural forms is expected to contribute to the dominant share of residential sector through 2027. Sakarni Plaster (India) Private Limited, Unity Gyptech Products, INDIA GYPSUM PVT LTD, Saint-Gobain Gyproc India Ltd., Vinayak Gypsum & Interiors Pvt. Ltd., Shubham Plasters, Eros Minerock Products LLP, Gypelite India Private Limited, Gypcore India Pvt Ltd, USG Boral Building Products India Private Limited, Ocean International and VANS Gypsum Pvt. Ltd. are the leading players operating in the India gypsum board market.Gypsumboardmarketis highly fragmentedwith Saint-Gobain Gyproc India Ltd. accounting for share of roughly 12% in 2021. “Maharashtra is the largest market with a share of 12.42% in India Gypsum Board Market as of 2021 and is anticipated to be the dominant state over the forecast years as well, due to the increasing construction of commercial and residential buildings in the state, especially in Mumbai. Favorable government regulations for the construction projects such as Smart City Development, Delhi-Mumbai Industrial Corridor Project, MumbaiDevelopmentPlan2034,BengaluruMumbaiIndustrial Corridor Project, andWelfare Scheme for Building & Other Construction Workers are anticipated to create new opportunities for industry players in the state. Moreover, the government project ‘Housing for All by 2022’, is expected to immensely drive the low-cost residential construction segment in the country, which in turn will further boost the India gypsum board market.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm. © TechSci Research 1212

Sample Data - Snapshot India Gypsum Board Market Size, By Value (INR Crore), 2017-2027F CAGR 2017-2021 CAGR 2022E-2027F By Value: xx% By Value: xx% 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F Value (INR Crore) India Gypsum Board Market Share, By Type, By Value, 2017-2027F 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F Wall Board 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% 40.00% Ceiling Board 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Pre-Decorated Board 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% Others 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% India Gypsum Board Market Share, By Thickness, By Value, 2017-2027F 2017 2018 2019 2020 2021 2022E 2023F 2024F 2025F 2026F 2027F 1/2-inch 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 5/8-inch 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% 30.00% Other Thicknesses 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% 50.00% © TechSci Research 1313

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