Global Gypsum Board Market Size Insights Forecasts to 2032
- The Global Gypsum Board Market Size was valued at USD 44.15 Billion in 2022.
- The Market Size is Growing at a CAGR of 9.3% from 2022 to 2032
- The Worldwide Gypsum Board Market Size is expected to reach USD 107.4 Billion by 2032
- North America is expected to Grow the fastest during the forecast period
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The Global Gypsum Board Market Size is expected to reach USD 107.4 Billion by 2032, at a CAGR of 9.3% during the forecast period 2022 to 2032.
Gypsum board, often known as plasterboard, drywall, or wallboard, is a low-density material made of a lightweight clay layer and a paper coating. Gypsum boards are primarily composed of gypsum and additives, and they are wrapped in paper. They are lightweight and may be divided into a variety of shapes and styles for a more visually appealing look. To blend into the color scheme of the room, they can be repainted in any shade. Gypsum board is a highly utilized false ceiling or decorative covering material in residential construction. Gypsum board false ceiling installation is incredibly cost-effective, convenient, and time-saving. It offers the ceiling a clean, attractive appearance. The installation of drywall partitions is another recognized application for gypsum boards. They can be used in both commercial and residential constructions. When compared to traditional concrete walls, they are exceedingly simple and quick to construct, as well as highly affordable. In addition, when compared to other paneling materials such as fiberboard, hardwood, and plywood, gypsum board distinguishes out due to its benefits such as resistance to fire, ability to adapt, long-term stability, ease of installation, and affordable cost. Furthermore, this is one of the world's most popular gypsum products, because of their lightweight and simple adaption to walls without beam structure. These gypsum boards are widely employed in the building sector. There are numerous forms of these boards accessible on the market, including ordinary gypsum board, waterproof board, combustibility resistant boards, portable board, pre-decorated board, and many more, with regular gypsum board being the most often used variety in the worldwide marketplace.
Global Gypsum Board Market Report Coverage
|Market Size in 2022:||USD 44.15 Billion|
|Forecast Period 2022-2032 CAGR:||9.3%|
|2032 Value Projection:||USD 107.4 Billion|
|Historical Data for:||2018-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||110|
|Segments covered:||By Product, By Application, By Region and COVID-19 Impact Analysis.|
|Companies Covered:||Saint-Gobain Gyproc, Extex Group, Gulf Gypsum Co., Knauf, Gypsemna, National Gypsum Company, Beijing New Building Material, Yoshino Gypsum Co. Ltd., Georgia-Pacific LLC, American Gypsum Company LLC, Fletcher Building, Cabot Gypsum ULC, USG Boral, Eagle Materials Inc., Ahmed Yousef & Hassan Abdulla Co., Global Mining Company LLC, Chiyoda Ute Co. Ltd., Everest Industries Limited, Jason plasterboard Co. Ltd., and other key vendors.|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The growing housing development trend, fast growth in urbanization in key economies, higher government expenditure in the real estate market for residential construction, and increasing consumer demand for luxurious housing are the key factors behind the gypsum boards market expansion. Gypsum boards are commonly found in residential constructions as an insulating material for the walls and ceilings inside. They are essential layers of plasterboards, which serve as substrates for partitions and linings of walls, ceilings, roofs, and floors. The growing demand for home renovations around the world is likely to boost the overall gypsum board market during the period of forecasting. In addition, soaring real estate expenses, especially when it comes to creating single-family homes and multistory condominiums in developing nations, are driving the gypsum boards industry. The industry is booming as a result of the rapidly growing urban population and increasing demands for housing.
Further, the versatility and convenience of the application of these boards allow them to be utilized across diverse end-uses in the building and construction sectors. One of the primary factors that has led to the product's global popularity is its lightweight construction. likewise, the increasing popularity of unique "green" buildings and technologically advanced cities around the globe that seek to conserve energy and minimize overuse of renewable resources is boosting the gypsum board market. Also, the set-up of gypsum boards does not involve large finances or labor expenditures, which is fueling global demand for gypsum boards. Furthermore, technical advancements and the introduction of novel manufacturing techniques by prominent industry players have accelerated the expansion of the gypsum board market over the forecast period.
By Product Insights
The wallboard segment is dominating the market with the largest revenue share over the forecast period.
On the basis of product, the global gypsum board market is segmented into the wallboard, ceiling board, pre-decorated board, and others. Among these, the wallboard segment is dominating the market with the largest revenue share of 46.3% over the forecast period. Wallboard is commonly utilized in the construction sector for a variety of internal uses including walls and partitions. In addition, wallboard has evolved as a faster alternative to conventional lath and plaster. Product demand is predicted to be driven by rising demand for environmentally friendly buildings in North America and Europe throughout the forecast period. Additionally, the drastically increasing construction industry, particularly in Asia Pacific and the Middle East, is expected to enhance wallboard demand in many different building endeavors due to gentrification, higher disposable income, and growing housing needs from the rapidly growing population.
By Application Insights
The residential segment accounted for the largest revenue share of more than 52.7% over the forecast period.
On the basis of application, the global gypsum board market is segmented into residential, industrial, commercial, institutional, pre-engineered metal buildings, and others. Among these, the residential segment is dominating the market with the largest revenue share of 52.7% over the forecast period. This dominance is driven by the ongoing demand for housing, as well as the numerous applications of gypsum board in residential buildings and restoration. Because of its fire resistance, soundproofing, and ease of painting or wallpapering over, it is commonly employed for walls, ceilings, and partitions. Global growing urbanization, population expansion, and higher disposable income all contribute to growing demand in the residential construction segment. Furthermore, the installation of gypsum boards is simple and effortless, resulting in less waste, boosting the gypsum board market's growth.
Asia Pacific dominates the market with the largest market share over the forecast period.
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Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. The region's position in the gypsum board market is driven by robust building exertion, especially in the emerging markets, and large infrastructural investments. Given its enormous population and dynamic economic growth, the Asia Pacific region is experiencing tremendous growth in building projects, particularly in growing economies such as China, India, and Southeast Asian countries. Gypsum board demand is rising as a result of the increasing housing and commercial space demand being stimulated by rapid urbanization, infrastructural development, and growing disposable incomes in the region. Furthermore, the market is being propelled by a trend toward more environmentally friendly and rapid construction processes.
North America, on the contrary, is expected to grow the fastest during the forecast period. The real estate and construction industry in North America is well-established, with constant demand for gypsum boards for residential, commercial, and industrial uses. The key economies in this region are the United States and Canada. The usage of gypsum boards for cost-effective and green construction has been impacted by environmentally friendly construction methods and legislation.
The Europe market is expected to register a substantial CAGR growth rate during the forecast period. Europe's construction industry is solidified, with an eclectic array of residential, commercial, and infrastructural projects. Europe has a high market position in the global gypsum board market, owing to the building industry's inclination for the functional qualities of gypsum board. Gypsum board is highly regarded in the region for its fire resistance and acoustic characteristics.
List of Key Market Players
- Saint-Gobain Gyproc
- Extex Group
- Gulf Gypsum Co.
- National Gypsum Company
- Beijing New Building Material
- Yoshino Gypsum Co. Ltd.
- Georgia-Pacific LLC
- American Gypsum Company LLC
- Fletcher Building
- Cabot Gypsum ULC
- USG Boral
- Eagle Materials Inc.
- Ahmed Yousef & Hassan Abdulla Co.
- Global Mining Company LLC
- Chiyoda Ute Co. Ltd.
- Everest Industries Limited
- Jason plasterboard Co. Ltd.
Key Market Developments
- On April 2023, Etex Group, announced the closing of its purchase of Superglass. This decision emphasized Etex's growing market presence in the United Kingdom and its increasing position in the European insulation industry, with a focus on delivering sophisticated and sustainable building materials such as gypsum boards.
- On June 2022, GYPSEMNA launched a glass mat gypsum board that is versatile and high-performance. It is simple to apply and can be used in a wide range of circumstances that require additional moisture or humidity protection.
- On February 2022, Etex Group concluded the important takeover of Australia's most prominent plasterboard companies. Etex will be able to increase its market share in the country's well-developed construction business as a result of this strategic milestone. The newly incorporated plasterboard business in Australia contributed EUR 124 million (USD 144.74 million) to Etex's sales in 2021.
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Gypsum Board Market based on the below-mentioned segments:
Gypsum Board Market, Product Analysis
- Ceiling Board
- Pre-decorated Board
Gypsum Board Market, Application Analysis
- Pre-engineered Metal Buildings
Gypsum Board Market, Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions (FAQ)
1. What is the market size of the gypsum board market?The Global Gypsum Board Market is expected to grow from USD 44.15 billion in 2022 to USD 107.4 billion by 2032, at a CAGR of 9.3% during the forecast period 2022-2032.
2. Which are the key companies in the market?Saint-Gobain Gyproc, Extex Group, Gulf Gypsum Co., Knauf, Gypsemna, National Gypsum Company, Beijing New Building Material, Yoshino Gypsum Co. Ltd., Georgia-Pacific LLC, American Gypsum Company LLC, Fletcher Building, Cabot Gypsum ULC, USG Boral, Eagle Materials Inc., Ahmed Yousef & Hassan Abdulla Co., Global Mining Company LLC, Chiyoda Ute Co. Ltd., Everest Industries Limited, Jason plasterboard Co. Ltd.
3. Which segment dominated the gypsum board market share?The residential segment in application type dominated the gypsum board market in 2022 and accounted for a revenue share of over 52.7%.
4. What are the elements driving the growth of the gypsum board market?The growing infrastructure activity in the commercial and residential sectors as a result of rapid urbanization is the primary factor driving the ongoing expansion of the global gypsum board market.
5. Which region is dominating the gypsum board market?Asia Pacific is dominating the gypsum board market with more than 38.7% market share.
6. Which segment holds the largest market share of the gypsum board market?The wallboard segment based on product type holds the maximum market share of the gypsum board market.
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