USD 44.98 billion
Report ID: SQMIG15F2021 | Region: Global | Published Date: November, 2022 | Pages: 157 | Tables: 93 | Figures: 76
Gypsum Board Market size was valued at USD 44.98 billion in 2021 and is poised to grow from USD 50.47 billion in 2022 to USD 142.22 billion by 2030, growing at a CAGR of 12.20% in the forecast period (2023-2030).
Gypsum boards are lightweight construction materials that are commonly utilised as interior or exterior walls, ceilings, and partitions in residential or non-residential structures. They are commonly referred to as drywall, wallboard, or plasterboard and can be directly connected to wood or metal framing or existing surfaces with screws, nails, or adhesives. Gypsum boards differ from plywood, hardboard, and fibreboards in terms of sound control, versatility, quality, and convenience, as well as their non-combustible core. As a result, they have become more common and serve as a faster alternative to traditional lath and plaster.
Gypsum boards are made of a core of set gypsum, surfaced with specifically manufactured paper firmly bonded to the core. It is commonly referred to as drywall, plasterboard, and wallboard. Gypsum board is a widely used construction material for partitions and lining walls, roofs, ceilings, and floors.
The market for Gypsum boards is expected to grow in the forthcoming years owing to increase in market entrants, especially after the pandemic. In addition, the market growth is also influenced due to demand for innovative homes and unique designs.
US Gypsum Board Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 44.98 billion
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Global gypsum board market is segmented based on product, type, application, and region. Based on product, the market is segmented into wall board, ceiling board, pre-decorated board, others. Based on application, the market is segmented into pre-engineered buildings, residential, industrial, commercial, institutional. Based on type, the market is segmented into standard, type X, others. Based on region, the market segmentation spans North America, Asia Pacific, Europe, Latin America and Middle East Africa.
Gypsum Board Market Analysis by Product:
Based on product, global gypsum board market is segmented into wall board, ceiling board, pre-decorated board, others.
Wallboards became the largest product segment in 2020, accounting for more than half of all sales, owing to their widespread adoption as a replacement for plaster and lath. During the forecast period, product demand is likely to be driven by rising demand for sustainable construction. Furthermore, the product's continual innovation is projected to expand its penetration in high-end construction applications. Gypsum ceiling board is progressively replacing other traditional alternatives such as plaster in ceilings and interior walls. These ceiling boards greatly improve thermal and sound insulation in buildings while providing excellent stiffness and core strength at a cheap cost.
A growing number of commercial development projects throughout the world are expected to drive up demand for ceiling boards. The sector of pre-decorated boards is expected to grow at the quickest CAGR from 2023 to 2030 due to its widespread use in various construction projects due to their low maintenance and ease of installation. These boards are commonly used in commercial applications as they allow for changes in workspace arrangement while providing optimal stability and colour preservation to surfaces. Other gypsum-based products, such as sheathing, plaster base, and lath, are gaining market traction due to their capacity to improve the architectural design and aesthetics of building structures.
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Based on region global gypsum board market is segmented into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa.
North America is dominating the global gypsum board market. Factors such as a high demand for sustainable building, as well as the quick adoption of new technology and the availability of skilled labour, have had a favourable impact on the regional market. Another major aspect driving market expansion is increased residential and commercial building spending.
Furthermore, the introduction of important producers in the region is likely to boost demand throughout the projection period. During the projected period, the Asia Pacific gypsum board market is expected to rise at a rapid pace. Increasing construction projects in China and India, as well as the region's well-established construction industry, are likely to fuel commodities demand, increasing business growth in the coming years.
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Gypsum Board Market Driver
Growing Construction Activities and Demand for Unique Designs to Create More Avenues for Market Growth
Gypsum Board Market Restraint
Price Volatility to Impede the market expansion
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Major corporations are concentrating their efforts on mergers and acquisitions of minor companies in the gypsum board market to broaden their geographical reach, production capacity, and product variety. Due to the presence of multiple international corporations, the market is extremely competitive. Increased R&D investments by the major firms in the creation of new product designs and textures are anticipated to exacerbate competition.
Top Players in the Global Gypsum Board Market
Gypsum Board Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to the global gypsum board market report analysis, North America dominates the global gypsum board market. Factors such as a high demand for sustainable building, as well as the quick adoption of new technology and the availability of skilled labour, have a favourable impact on the regional market. Another major aspect driving market expansion is increased residential and commercial building spending in the region.
|Market size value in 2021||USD 44.98 billion|
|Market size value in 2030||USD 50.47 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
MARKET DYNAMICS & OUTLOOK
Market Size by Region
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For the Global Gypsum Board Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Gypsum Board Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Gypsum Board Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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