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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.
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Feb 23, 2022, 08:50 ET
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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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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
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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