What is the global market size of Plaster Retarder Market?

Global Plaster Retarder Market size was valued at USD 207.2 million in 2021 and is poised to grow from USD 242.42 million in 2022 to USD 252.6 million by 2030, growing at a CAGR of 4.2% in the forecast period (2023-2030).

Global Plaster Retarder Market Size, Share, Growth Analysis, By End use(Finishing plaster, Conventional plaster), By Application(Refurbishments, New Construction), By Sector(Residential Construction, Commercial Construction) - Industry Forecast 2024-2031

Report ID: SQSG20J2002 | Region: Global | Published Date: April, 2024
Pages: 284 | Tables: 93 | Figures: 75

Global Plaster Retarder Market Insights

Global Plaster Retarder Market size was valued at USD 207.2 million in 2019 and is poised to grow from USD 242.42 million in 2023 to USD 252.6 million by 2031, growing at a CAGR of 4.2% in the forecast period (2024-2031).

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.

US Plaster Retarder Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Plaster Retarder Market Report Snapshots

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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. 'Mapei S.p.A.', 'Sika AG', 'Saint-Gobain S.A.', 'BASF SE', 'Knauf Gips KG', 'W.R. Grace & Co.', 'Dow Chemical Company', 'Henkel AG & Co. KGaA', 'RPM International Inc.', 'Arkema S.A.', 'Pidilite Industries Ltd.', 'Akzo Nobel N.V.', 'Fosroc International Limited', 'USG Corporation', 'Parex Group', 'Koster Bauchemie AG', 'ParexDavco Australia Pty Ltd', 'Modern Waterproofing Company', 'Perma Construction Aids Pvt. Ltd.'

Rising consumer desires for opulent houses, as well as growing requests for larger and more gourmet kitchens, gigantic bathtubs, and private office spaces in their present homes, have resulted in an increase in domestic remodelling activities during the current pandemic, as more and more people are cooking and working from home, which assists in the increased consumption of the retarder during this period of time.

The increased use of specific retarders and the development of innovative chemical combinations by numerous key players in the present gypsum plaster market are expected to drive market expansion. Furthermore, the spike in demand for lightweight construction materials, as well as the emphasis on decreasing building structural load, is expected to drive the expansion of the worldwide gypsum plaster market in the coming years.

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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Global Plaster Retarder Market Size, Share, Growth Analysis, By End use(Finishing plaster, Conventional plaster), By Application(Refurbishments, New Construction), By Sector(Residential Construction, Commercial Construction) - Industry Forecast 2024-2031

Global Plaster Retarder Market Insights

Global Plaster Retarder Market Report Snapshots

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