The global gypsum board market size is expected to reach USD 107.3 billion in 2028 and register a steady CAGR of 11.5%, according to the latest report by Reports and Data. Key factors such as increasing popularity of gypsum boards in the construction sector, availability of gypsum boards with various decorative designs, and increasing construction activities across the globe are driving global market revenue growth.
Gypsum board, also known as drywall is a premium building material widely used in commercial, institutional and residential sectors for building walls, and ceilings owing to its favorable factors such as sound control, cost-effectiveness, versatility, and fire resistance. These gypsum boards are available in various shapes, colors, and designs and are used to enhance the interior of commercial buildings, malls, residences, restaurants without the need to add plaster of walls, partitions, and ceilings. Factors such as rapid urbanization, rising disposable income, increasing demand for aesthetically pleasing home décor, and rising demand for deploying false ceilings are fueling market growth. In addition, growing trend for smart homes and smart buildings, increasing government spending, and rising investments in research and development activities to launch enhanced products are fueling global market growth.
However, fluctuating prices of raw materials, high cost of gypsum boards, and high susceptibility for fungal growth are factors expected to hamper overall growth of the gypsum market over the forecast period.
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Major companies operating in the global gypsum board market include American Gypsum, Gulf Gypsum Co. Ltd., Saint-Gobain Gyproc India, USG Corporation, National Gypsum Company, LafargeHolcim Ltd., Georgia-Pacific LLC, CertainTeed, Pabco Gypsum, Knauf LLC, Etex Group, and Taishan Gypsum Co. Ltd.
Some key highlights in the report:
- Based on application, the residential sector is expected to register robust revenue growth between 2021 and 2028. Rapid urbanization, increasing construction activities worldwide, rising disposable income, increasing demand for gypsum boards for aesthetic enhancement, and high demand for cost-effective, non-toxic, and eco-friendly construction materials are boosting segment revenue growth.
- Among the product types, the ceiling board segment is expected to account for significantly larger revenue share during the forecast period owing to increasing demand for gypsum false ceilings as these are easily affordable, offer better thermal and sound insulation, easy deployment, and are sturdy and rigid. Increasing adoption of ceiling boards across various commercial, industrial and institutional sectors is fueling segment revenue growth.
- The gypsum board market in North America is expected to account for largest revenue share in the global market throughout the forecast period. Factors such as increasing number of commercial and residential building activities, availability of skilled laborers and presence of dominant players, rising demand for multi-family buildings, and availability of natural gypsum reserves in abundance are fueling North America market growth.
- Asia Pacific is expected to register rapid revenue growth over the forecast period. China and India are some of the key contributing countries in APAC. Rapidly growing building and construction sector, increasing construction activities, rising per capita income, large scale industrialization, favorable government schemes, and rising number of redevelopment and renovation projects are factors boosting market growth in Asia Pacific.
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Rapid developments in the manufacturing sector and equipment, robust growth in the building and construction sector, high adoption for eco-friendly materials in constructions and increasing demand for smart buildings and smart homes are boosting market growth. Steady increase in the disposable income across the globe, improvements in the standard of living, increasing number of redevelopment plans and high demand for aesthetic look and posh homes are further fueling market growth. In addition, increasing R&D investments, and government schemes to support manufacturing and construction industry are fueling growth of the global Gypsum Board market.
For this study, Reports and Data has segmented the gypsum boards market based on product, application, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Ceiling Board
- Pre-decorated Board
Application Outlook (Revenue, USD Billion; 2018-2028)
- Pre-engineered Buildings
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Detailed Regional Analysis Covers:
- North America (U.S., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of Europe)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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