India Gypsum Plaster Market stood at INR 462.86 crore (USD 55.98 million) in 2022. It is projected to grow at a CAGR of 6.13% by 2029.
Of late, the Indian government has been taking a number of initiatives to renovate tourist destinations and administrative buildings with gypsum plaster, one of the preferred solutions for textured designs. Moreover, it provides outstanding wall coverage and strong strength. Additionally, due to rising urbanization, metropolises, such as Bangalore and Delhi, and Mumbai have displaced rural cities. This has resulted in a growing demand for gypsum plaster in household sectors.
Gypsum plaster, a type of white cementing material, is created by partially or completely dehydrating the gypsum mineral, usually with the addition of specialized retarders or hardeners. It is applied to the surface while still in a plastic condition (with water), where it sets and hardens as a result of the chemical reaction between the water and gypsum. To create a smooth surface, it can be applied over a brick, block, or concrete surface. Gypsum plaster also offers a smooth interior surface and works well as a foundation for high-quality paint and a wallpaper finish. In contrast to conventional cement mortar, gypsum plaster is easy to apply and requires less specialized labour.
India Gypsum Plaster Market - Drivers
Increasing Focus on Infrastructural Development and Providing Affordable Housing
Rising Uptake of Gypsum Boards as Building Materials
Moreover, in addition to providing high-quality wall finishing, gypsum plaster is cost-effective and contributes effectively toward the construction of high-performance green buildings.
Adoption of New Technologies and Construction Techniques
Growing Usage in Textured Designs on Walls
Increasing Application in Construction
Development of Manufacturing Facilities for Business Expansion
In addition, USG Boral, a building material supplier in India, has launched its plasterboard manufacturing facility in Sri City, Andhra Pradesh, with a total investment of approximately INR 290 crore (USD 35.07 million).
Increasing Commercial Development
- Post the COVID-19 pandemic in India, therehas been a rapid surge in the demand for commercial spaces, such as shops,modern format retail stores, malls, hotels, and restaurants and offices was witnessed,propelling the growth of several construction-related market, including the gypsumplaster market. With the easing of COVID-19 restrictions by the government, theeconomy opened at large, and consumer sentiments and spending improved as well.
- Also, interior aesthetics require time totime modification in existing commercial spaces. With gypsum plaster, interior alterationsand renovations became easy and economical compared to that of with traditionallath and plaster.
High Pace of Industrialization
Introduction of Technologically Advanced Products
In addition to this, market players are also investing in research and development to expand their product offerings that are specific to interior decorative applications with the addition of design and texture. These products are designed and manufactured with high-quality precision-offering performance systems to suit the changing trends in construction and workplace, making them extremely popular among architects, contractors, builders, and dealers in the India construction industry.
India Gypsum Plaster Market - Challenges
Susceptibility to Dampness and Availability of Cheaper Alternatives
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Market Segments
Market Players
SakarniPlaster (India) Private Limited, Saint-Gobain Gyproc India Ltd., J.K. LakshmiCement Ltd, Walplast Products Pvt. Ltd., DCM Shriram Ltd. (Shriram CementWorks), Kaya Maya Industries (Trimurti Wall Care Products Pvt Ltd), TMC GypsumIndia Ltd, Birla White, USG Boral, VV Paiint, and VANS Gypsum Pvt. Ltd. are thekey market players in the India gypsum plaster market.
| Attribute | Details |
| Base Year | 2023 |
| Historic Data | 2024-2032 – 2022 |
| Estimated Year | 2024 |
| Forecast Period | 2025 – 2029 |
| Quantitative Units | Revenue in USD million, Volume in Thousand Tons, and CAGR for 2024-2032-2023 and 2024-2029 |
| Report Coverage | Revenue forecast, company share, growth factors, and trends |
| Segments Covered | By Application By Packaging Size By End-Use Industry By Region |
| Regional Scope | North, West, South, East |
| Key companies profiled | Sakarni Plaster (India) Private Limited, Saint-Gobain Gyproc India Ltd., J.K. Lakshmi Cement Ltd, Walplast Products Pvt. Ltd., DCM Shriram Ltd. (Shriram Cement Works), Kaya Maya Industries (Trimurti Wall Care Products Pvt Ltd), TMC Gypsum India Ltd, Birla White, USG Boral, VV Paiint, and VANS Gypsum Pvt. Ltd. |
| Customization scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
