What Does the Historical and Current Drywall And Insulation Contractors Market Size Trend Indicate?
The drywall and insulation contractors market has seen considerable growth due to a variety of factors.
• The market size of drywall and insulation contractors has witnessed extensive growth in the past few years. Its growth projection is from $519.87 billion in 2024 to $571.09 billion in 2025, marking a compound annual growth rate (CAGR) of 9.9%. This significant rise during the historic period is a direct result of the growth in the construction and real estate sectors, varying trends in housing markets, increases in energy efficiency and building regulation standards, renovation and remodeling activities, and burgeoning population and urbanization.
What Is the Forecasted Market Size and Growth Rate for The Drywall And Insulation Contractors Market?
The Drywall And Insulation Contractors market is expected to maintain its strong growth trajectory in upcoming years.
• The market for drywall and insulation contractors is projected to experience robust growth in the upcoming years. The market is set to expand to $807.82 billion in 2029 with a composite yearly growth rate (CAGR) of 9.1%.
Factors contributing to this growth during the forecast period include sustainable construction methods, governmental energy efficiency incentives, green building certifications, low-cost housing programs, and smart home technology adoption. Noteworthy trends for the forecast period encompass the application of digital tools in design and planning, insulation that is resistant to fire, an increased need for drywall finishes, insulation systems that can withstand weather conditions, a lack of trained labor and focus on workforce education.
What Factors Are Driving Growth In The Drywall And Insulation Contractors Market?
The anticipated growth of the drywall and insulation contractors market can be attributed to the rise in residential constructions. This includes the creation of new housing units or the refurbishment of existing structures such as apartments and buildings meant for personal use. Drywall and insulation contractors play a crucial role in these renovations and constructions by performing tasks like drywalling, insulating, and plastering. These services are of particular importance during cold, drafty winter months and ensure a more stable temperature in homes through the additional layering. The Office for National Statistics, a UK government department, noted in its May 2024 report that total new construction orders had increased by 15.9% ($1866 million) (£1,436 million) in the first quarter of 2024 compared to the final quarter of 2023. The surge was attributed to an increase in new private commercial work, which rose by 27.9% ($909 million) (£700 million), and a notable increase in other new public work at 43.8% ($696 million) (£536 million). The upward trend in residential constructions thus underpins the expansion of the drywall and insulation contractors market.
What Are The Main Segments Of The Global Drywall And Insulation Contractors Market?
The drywall and insulation contractors market covered in this report is segmented –
1) By Type: Standard, Fire-Resistant, Mold Or Moisture Resistant
2) By Application: Construction And Decoration, Furniture Manufacturing
3) By End User: Residential, Commercial
Subsegments:
1) By Standard: Regular Gypsum Board, Lightweight Drywall
2) By Fire-Resistant: Type X Gypsum Board: Type C Gypsum Board
3) By Mold Or Moisture-Resistant: Green Board, Blue Board, Cement Board
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What Emerging Trends Are Influencing The Growth Of The Drywall And Insulation Contractors Market?
The increasing prominence of technological innovations is a key trend observed in the drywall and insulation contractors’ market. To maintain their market presence, many large corporations are focusing on the development and integration of advanced technology into their product offerings. For example, in January 2022, U.S. construction robotics firm, Canvas, introduced a robot designed for drywall finishing, aiming to enhance safety and appeal to a dwindling workforce. The Canvas system is capable of automating two of the most demanding steps - mudding and sanding, in the finishing of drywall. This allows for faster project completion while ensuring consistently superior quality finishes.
Who Are the Key Players In The Drywall And Insulation Contractors Market?
Major companies operating in the drywall and insulation contractors market include:
• CRM Construction Inc.
• MDB Construction & Restoration Services LLC
• Contemporary Wall Systems Inc.
• Contract Applicators Inc.
• Eagle Painting Company Inc.
• Canin Coatings Inc.
• EJN General Contractor LLC
• Adept Construction Services Ltd.
• AAP Construction Group Corp.
• Henderson-Johnson Co. Inc.
• Flagler County Painting LLC
• Asher Contractors LLC
• McCahill Painting Co.
• Jays and Fancy Interiors Inc.
• Installed Building Products Inc.
• TruTeam Software Solutions
• Masco Corporation
• TopBuild Corp.
• Knauf Fiber Glass
• Owens Corning Fiberglass Company
• CertainTeed Corporation
• Johns Manville Corp.
• GMS Inc.
• Bay Insulation Systems Inc.
• Thermafiber Inc.
• Cellofoam North America Inc.
• Guardian Building Products Inc.
• Rmax Operating LLC
• KPS Global LLC
• Atlas Roofing Corporation
• Carlisle Construction Materials LLC
• GAF Materials Corporation
• Firestone Building Products Ltd.
• Henry Company
• Sika Corporation
• Tremco Incorporated
• BASF Corporation
• Dow Chemical Company
• Huntsman Corporation
• Lapolla Industries Inc.
• North Carolina Foam Industries
• Rhino Linings Corporation
• Spray Foam Systems LLC
• Demilec Inc.
• Covestro LLC
• General Coatings Manufacturing Corp.
What Is The Most Dominant Region In The Drywall And Insulation Contractors Market?
Europe was the largest region in the drywall and insulation contractors’ market in 2024. Asia-Pacific is expected to be the fastest-growing region in the drywall and insulation contractors’ market during the forecast period. The regions covered in the drywall and insulation contractors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
