Global Gypsum Plaster Market Size to Exceed USD 5.51 Billion by 2033: Market Study Report

Global Gypsum Plaster Market Size to Exceed USD 5.51 Billion by 2033 

According to a research report published by Spherical Insights & Consulting, The Global Gypsum Plaster Market Size is Expected to Grow from USD 2.93 Billion in 2023 to 5.51 Billion by 2033, at a CAGR 6.52% during the forecast period 2023-2033.   

Browse 210 market data Tables and 45 Figures spread through 190 Pages and in-depth TOC on the Global Gypsum Plaster Market Size, Share, and COVID-19 Impact Analysis, By Plaster System (Manually-applied, Machine-applied, and Finishes), By Raw Material (Natural and Synthetic), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033                          

The gypsum plaster market is the world industry engaged in the manufacture, distribution, and application of plaster made from gypsum, a very common building product for wall and ceiling finishes, coatings, and ornamentation. Gypsum plaster or plaster of paris (POP) is manufactured by heating gypsum (calcium sulfate dihydrate) to expel water to produce a powder that sets in the presence of water. Moreover, the gypsum plaster market is driven by high urbanization, growing construction activity, and surging demand for sustainable, cost-saving construction materials. The benefits of quick setting time, fire resistance, and light properties drive adoption. Furthermore, rising residential, commercial, and industrial infrastructure growth spurs market growth globally. However, the gypsum plaster market is subject to challenges including unstable raw material costs, poor moisture resistance, market competition from cement-based plasters, and elevated transport costs that affect the growth and adoption levels of the market.

The manually-applied segment accounted for the largest share of the global gypsum plaster market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.

Based on the plaster system, the global gypsum plaster market is divided into manually-applied, machine-applied, and finishes. Among these, the manually-applied segment accounted for the largest share of the global gypsum plaster market in 2023 and is anticipated to grow at a significant CAGR during the forecast period.  This is driven by its extensive application in residential and commercial building. Its affordability, simplicity of application, and applicability to small-scale projects render it the choice of preference, particularly in developing countries where labor is relatively cheap.

The natural segment accounted for a substantial share of the global gypsum plaster market in 2023 and is anticipated to grow at a rapid pace during the projected period.

On the basis of the raw material, the global gypsum plaster market is divided into natural and synthetic. Among these, the natural segment accounted for a substantial share of the global gypsum plaster market in 2023 and is anticipated to grow at a rapid pace during the projected period. This is pushed by its widespread availability, cost-effectiveness, and environmentally friendly characteristics. Most commonly applied in building and interior finishing, natural gypsum plaster is favored for its purity, superior bonding power, and sustainability over synthetic products.

Asia Pacific is projected to hold the largest share of the global gypsum plaster market over the projected period.  

Asia Pacific is projected to hold the largest share of the global gypsum plaster market over the projected period. This is spurred by explosive urbanization, thriving construction works, and soaring demand for environmentally friendly building products. China, India, and Southeast Asian economies are experiencing phenomenal growth through government infrastructure initiatives, growing residential developments, and increased commercial property developments.

North America is expected to grow at the fastest CAGR of the global gypsum plaster market during the projected period. This is driven by intensified construction and renovation projects, intensified demand for environmentally friendly building materials, and the advancement of construction technologies. The region enjoys stringent building codes, expanding residential and commercial construction, and the availability of major gypsum plaster producers.

Company Profiling

Major vendors in the global gypsum plaster market are Saint-Gobain, Knauf Gips KG, USG Corporation, Georgia-Pacific Gypsum II LLC, James Hardie Industries plc, YOSHINO GYPSUM CO., LTD, Global Gypsum Company Co. LTD, Escayescos, SL, Vg-orth GmbH & Co. KG, LA MARUXIÑA., and others.

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Recent Development

• In August 2024, BUA Group opened its new gypsum plaster factory, a milestone for the West African construction sector. The facility, which has been designed to produce high-quality gypsum plaster, will address the rising demand for building materials in the region. BUA Group's action is an attempt to strengthen local production capacity, cut imports, and support the development of the Nigerian and wider West African construction market. The plant's opening is anticipated to consolidate the supply chain of gypsum plaster, spur economic growth, and aid in the development of infrastructure projects throughout the region.  

Market Segment

This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the global gypsum plaster market based on the below-mentioned segments:

Global Gypsum Plaster Market, By Plaster System

• Manually-applied
• Machine-applied
• Finishes

Global Gypsum Plaster Market, By Raw Material

• Natural
• Synthetic

Global Gypsum Plaster Market, By Regional

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Qatar
  • South Africa
  • Rest of the Middle East & Africa