North American drywall is on the rebound, with anticipated annual growth of 11.3% to total 3.2 billion square meters by 2016, Cleveland-based industry research firm The Freedonia Group reports. Demand fell 12% annually between 2006 and 2011.
This comes as the amount of residential floor space in the U.S. halts a downward slide to grow at a double-digit pace through 2016, the report found. North America follows the Asia/Pacific region in percentage of global demand after falling as category leader between 2006 and 2011. During that period, North American demand halved to settle at 1.9 billion square meters (27% of global demand in 2011) while drywall demand in the Asia/Pacific region grew by more than one-third to 2.9 billion (42% of global demand).
But Freedonia’s report puts the North American market's growth on the fast track to be 30.5% of global demand in 2016 to Asia/Pacific’s 43% of global demand that year. Seventy percent of new drywall demand worldwide from 2011 to 2016 will come from the U.S. and China, the report finds, with each country seeing drywall sales grow at an annual rate of 12% through 2016.
The numbers are part of a 358-page report called "World Drywall & Building Plaster" that Freedonia is selling for $6,100.