Demand for drywall in Indonesia is expected to expand 5.5 percent per annum to 186 million square meters in 2023. This will represent a pace above the Asia/Pacific regional average and an acceleration over the 2013-2018 period. Gains will be driven by the nonresidential building market, which will post stronger growth than it did between 2013 and 2018.
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Government efforts to spur foreign direct investment will support construction of new facilities and therefore drywall demand. In May 2019, the Indonesian government announced a number of incentives to attract foreign multinationals’ research and development capacity, including $200 million in tax breaks for every $100 million spent on R&D.
Sales to residential applications, on the other hand, will slow after a period of robust growth.