According to a new report published by Allied Market Research, titled, “Earthen Plasters Market by Construction Type, Application, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2021–2030,” global earthen plasters market size was valued at $81.7 million in 2020, and is expected to reach $116.8 million by 2030, registering a CAGR of 3.3% from 2021 to 2030. In 2020, Asia-Pacific dominated the global earthen plasters, in terms of revenue, accounting for nearly half the share of the global earthen plaster industry.
An increase in construction activities globally and rise in demand for earthen plaster for residential and nonresidential buildings are expected to drive the growth of the global market. Moreover, rapid urbanization in the developing countries such as India, Brazil, and Africa boost the global earthen plasters market growth. For instance, urbanization in Africa is expected to grow at a rate of 5.5% from 2020 to 2025.
In addition, government investment in renovation and home remodeling activities escalates the demand for earthen plaster products, which fuels the growth of the global earthen plasters market. For instance, according to the data published by the Government of Canada, the Canadian construction industry is expected to grow to $304.6 billion in 2023, which includes home improvement, renovations, and remodeling of nonresidential & residential buildings. In addition, rise in spending on construction and renovation activities in countries such as Germany, the U.S., and Japan fosters the market growth. For instance, the U.S. Government spending on public and private infrastructure activities increased by 20% from 2012 to 2020. However, fluctuation in raw construction type prices and unreliability on harsh weather conditions are anticipated to hamper the market growth. Furthermore, government investments in the building infrastructure sector are projected to provide lucrative opportunities for the growth of the market.
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Owing to COVID-19 pandemic situation, various manufacturers in the global earthen plasters market had to shut down their business activities due to the lockdown initiated in countries such as UAE, India, and Brazil. This outbreak has directly impacted the sales of earthen plaster companies globally. For instance, the net sales of Acrow Formwork and Construction Services Limited based in Australia declined by 16.0% from 2019 to 2020. Moreover, lack of raw construction types, disruption in supply chain, and lack of man power halted the supply chain of earthen plaster products. However, the re-initiation of the earthen plaster industry and availability of vaccines for coronavirus disease are projected to lead to the opening of the global earthen plaster companies at their full-scale capacities.
The global earthen plasters market is segmented on the basis of type, construction type, end user, and region. On the basis of type, the market is categorized into walls, roofs/ceilings, and others. The walls segment generated the highest revenue in 2020, owing to increase in awareness among people to use earthen plasters owing to its eco-friendliness and affordability. Depending on construction type, it is segregated into new construction, wood, and renovation & repair. The renovation & repair segment dominated the market in 2020 owing to rise in number of renovation & repair activities in developed regions. By end user, it is fragmented into residential, and non-residential. The non-residential segment generated the highest revenue in 2020 owing to rapid urbanization and surge in demand for commercial & retail spaces globally.
Region wise, the earthen Plasters analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global earthen plasters market share, and is anticipated to secure a leading position during the forecast period. This is attributed to the fact that Asia Pacific is a growing region and is experiencing a rapid expansion of the industrial and commercial sectors.
The key players profiled in the market report include Clay.It, Conluto, Claytech Baustoffe Aus Lehm, American Clay Enterprises LLC, Clayworks, Earth Plaster Pvt. Ltd, JBR Coatings and Insulations, LimeStrong Artisan, Mike wye & Associates, New Mexico Clay.
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Key Findings Of The Study
- The report provides an extensive analysis of the current and emerging global earthen plasters market trends and dynamics.
- By application, the walls segment generated the highest revenue in 2020.
- On the basis of construction type, renovation & repair segment generated the highest revenue in 2020.
- Depending on end user, the nonresidential segment generated the highest revenue in 2020.
- Region wise, Asia-Pacific generated the largest market share in 2020.
- The report provides an extensive analysis of the trends and emerging earthen plasters market opportunities.
- In depth, the global earthen plasters market analysis is conducted by constructing estimations for the key segments between 2020 and 2030.