The new report by Expert Market Research titled, ‘Global Gypsum Board Market Report and Forecast 2023-2028’, gives an in-depth analysis of the global gypsum board market, assessing the market based on its segments like types, products, end uses, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): About USD 28.02 billion
- Forecast CAGR (2023-2028): 5.3%
The end users of the industry are increasingly choosing gypsum boards as a result of the move from traditional construction methods to creative architectural ideas. Air-purifying and sound-reducing gypsum boards with a viscoelastic polymer intermediate layer sandwiched between two specially designed thin layers have also been introduced. Such advances by major players continue to propel the gypsum board market forward. A major increase in the number of infrastructure construction programmes, large-scale industrialisation, favourable government policies, rising demand for quality housing, and improving living standards are some of the key factors driving market expansion.
The Asia Pacific area is expected to have substantial expansion. Increasing construction projects in China and India, along with the well-established construction industry in the area, is expected to fuel commodity demand, thus boosting business growth in the coming years.
Industry Definition and Major Segments
Gypsum board, also known as drywall, owing to its inherent fire resistance quality, is the preferred construction material for wall, ceiling, and partition designs in residential, educational, and industrial structures. Gypsum materials, which are designed to create a monolithic surface, can provide sound control, flexibility, quality, economy, and ease, while a joint treatment system can preserve joints and fastener heads.
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The market is segmented on the basis of type into:
- Standard
- Type X
- Others
The market is categorised in terms of product into:
- Wallboard
- Ceiling
- Pre-decorated
- Others
The market is divided on the basis of end use into:
- Residential
- Commercial
- Industrial
- Institutional
- Others
The regional markets for the product include:
- North America
- Europe
- The Asia Pacific
- Latin America
- The Middle East and Africa
Market Trends
The global gypsum board industry has had considerable expansion in recent years, and global demand is likely to continue to expand significantly throughout the forecast period. This rise can be attributable to increased demand from the application segment around the world. In this modern era, technology has advanced in the construction business, attracting both manufacturers and builders to the gypsum sheet market. Over the years, the construction business has created numerous prospects for growth. Developing markets, in particular, are boosting their infrastructure spending. Moreover, rising urbanisation, the growing residential industry, and the various benefits of gypsum board, are driving the market and are likely to continue to do so in the forecast period.
Key Market Players
The major players in the market are Saint Gobain, Knauf Gips KG, Georgia-Pacific LLC, USG BORAL, Etex Group, and LafargeHolcim Ltd, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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