Earthen Plasters Market to Reach $116.8 Mn, Globally, by 2030 at 3.3% CAGR: Allied Market Research
Surge in urbanization, increase in awareness toward environment-friendly construction materials, and development of the construction sector have boosted the growth of the global earthen plasters market.
PORTLAND, Ore., Feb. 23, 2022 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Earthen Plasters Market by End User (Residential and Nonresidential), Application (Walls, Roofs/Ceilings, and Others), and Construction (New Construction and Renovation & Repair): Global Opportunity Analysis and Industry Forecast, 2021–2030". As per the report, the global earthen plasters industry was accounted for $81.7 million in 2020, and is expected to garner $116.8 million by 2030, registering at a CAGR of 3.3% from 2021 to 2030.
Drivers, restraints, and opportunities
Surge in urbanization, increase in awareness toward environment-friendly construction materials, and development of the construction sector have boosted the growth of the global earthen plasters market. However, concerns associated with cracking and dusting owing to improper application methods hinder the market growth. On the contrary, surge in demand for green buildings and rise in government and private investments in the infrastructure sector is expected to open new opportunities for the market players in the future.
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Covid-19 scenario:
- The Covid-19 pandemic negatively affected the demand for earthen plasters due to a decline in construction activities and unavailability of raw materials.
- The prolonged lockdown disrupted the supply chain and led to the unavailability of raw materials.
The roofs/ceilings segment to manifest the highest through 2030
By application, the roofs/ceilings segment is expected to manifest the highest CAGR of 3.9% during the forecast period, owing to rise in residential construction expenditure and activities. However, the walls segment dominated the market in 2020, accounting for more than three-fifths of the global earthen plasters market, due to benefits such as eco-friendliness, ease of installation, and cost-effectiveness.
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The non-residential segment dominated the market
By end user, the non-residential segment held the lion's share in 2020, contributing to nearly three-fifths of the global earthen plasters market, due to rise in construction of new official buildings and non-residential complexes. However, the residential segment is anticipated to register the highest CAGR of 3.6% from 2021 to 2030, due to rise in construction of residential buildings.
North America, followed by Europe and North America, held the lion's share
By region, Asia-Pacific, followed by Europe and North America, dominated the market in 2020, contributing to nearly half of the global earthen plasters market. In addition, the region is expected to portray the highest CAGR of 4.0% during the forecast period, owing to rapid urbanization and industrialization in developing countries in the region. The market across North America is expected to register a CAGR of 2.6% during the forecast period.
Major market players
- Clay.It
- Conluto
- Claytec Baustoffe Aus Lehm
- American Clay Enterprises LLC
- Clayworks
- Earth Plaster Pvt Ltd
- JBR Coatings insulations
- LimeStrong Artisan
- Mike Wye & Associates Ltd.
- New Mexico Clay
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