Report ID: SQSG20J2002 | Region: Global | Published Date: September, 2022 | Pages: 284 | Tables: 93 | Figures: 66
Global Plaster Retarder Market was valued at USD 181.76 Million in 2022, and it is expected to reach a value of USD 252.60 Million by 2030, at a CAGR of 4.20% over the forecast period (2023 - 2030).
Economic growth, increasing government aid, and a strong emphasis on modernization and infrastructure development have all contributed to the global expansion of the construction business. The expansion of the construction industry is expected to have a direct impact on market growth in the future.
The market for gypsum plaster is expected to develop in the future due to the rising usage of this product in single-family and multi-family residential buildings. Other important factors driving the growth of the plaster retarder market include increased government investment in the real estate industry for commercial buildings and rising demand for high-end residential residences.
Plaster Retarder is a common addition used to reduce the curing process of any sort of plaster, including veneer, standard plasters, and setting-type joint compounds, by reducing the chemical crystal formation that causes the gypsum plaster to set or harden. This, in turn, allows the plaster to remain workable for a longer period of time, allowing for ideal final placement and smoothening.
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The Global Plaster Retarder Market is segmented based on Application, End-Use, Sector, and region. Based on the Application, the Global Plaster Retarder Market is segmented into Refurbishments, New Construction. Based on the End-Use, the Global Plaster Retarder Market is segmented as Finishing plaster, Conventional plaster, Veneer plaster, Lime finish plaster, Setting-type joint compounds, Gypsum or gypsum-containing blended materials. Based on the Sector, the Global Plaster Retarder Market is segmented as Residential Construction, Commercial Construction, Institutional Construction, and Industrial Construction. Based on Region it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Analysis by Application
In terms of application, the global Plaster Retarder market is largely dominated by the new construction sector. Gypsum mortar is a typical building material that is especially useful for plastering walls. This mortar has three significant flaws that limit its use in building and statue construction. For starters, it has a poor compressive strength. It also has a fast water absorption rate and a short setup time. Plaster retarder is extensively used in gypsum mortar to delay the setting time of the gypsum and increase its strength. Gypsum retarders may limit the setting time of gypsum and keep it fluid for a specified amount of time, reducing waste and loss and improving building efficiency.
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The Asia Pacific is projected to show the fastest growth over the forecast period. Rising consumer preferences for energy-saving solutions, the EU's 2020 energy efficiency refurbishment initiative, an increasing preference for do-it-yourself projects and green construction approaches, and the provision of sustainable infrastructure will drive growth in the gypsum retarder market across Europe. Furthermore, rising FDI investments, particularly in the hotel, education, healthcare, and other commercial sectors, are strengthening the commercial renovation industry, which can help drive the region's plaster retarder market expansion.
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Rising Residential Renovations Will Aid Penetration in the Worldwide Plaster Retarder Market
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The Global Plaster Retarder Market is relatively consolidated, with a very high level of competition. Companies are working on R&D and other initiatives to provide better equipment to their customers and expand their companies globally. These industry leaders are expanding their client base in a variety of ways, and many organizations are forming strategic and creative partnerships with other start-up businesses to increase market share and profitability.
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According to our Global Plaster Retarder Market Analysis, Plasters are now designed goods that incorporate at least one retarder to give a wider window of workability. The strength and porosity of construction materials are determined by production procedures, the use of suitable additives, and the water/gypsum ratio. In particular, additives must be carefully chosen in order to produce the optimum results in relation to established requirements.
The market holds huge potential in developing economies such as Asia Pacific followed by MEA and Latin America. China and India are the fastest growing market followed by EU nations.
|Market size value in 2030||181.76 Million|
|Forecast period||2023 - 2030|
|Forecast Unit (Value)||Million|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Plaster Retarder Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Plaster Retarder Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQSG20J2002