IMARC Group, a leading market research company, has recently releases report titled “Gypsum Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, The study provides a detailed analysis of the industry, including the global gypsum board market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights:
How big is the gypsum board market?
The global gypsum board market size reached US$ 28.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 39.7 Billion by 2028, exhibiting a growth rate (CAGR) of 5.6% during 2023-2028.
What is Gypsum Board?
Gypsum board, also known as drywall or plasterboard, is a widely used building material consisting of a gypsum core placed between two layers of paper or fiberglass. It is known for its versatility, ease of installation, and fire-resistant properties, thereby making it a preferred choice in the construction industry. Gypsum board is characterized by its lightweight nature, which makes it easy to handle and transport. It is available in various sizes and thicknesses, allowing for flexibility in design and construction projects. One of the key features of gypsum board is its fire-resistant nature. Gypsum board has good moisture resistance, making it suitable for use in areas prone to humidity, such as bathrooms and kitchens. Consequently, gypsum board finds application in a wide range of industries, including residential, commercial, and construction.
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Gypsum Board Market Trends:
- Rapid urbanization and population growth in many regions of the world are fueling the need for new construction projects, thereby boosting the market growth of gypsum board. Moreover, increasing renovation and remodelling activities in both residential and commercial sectors are contributing to the demand for gypsum board as a versatile and cost-effective material, thus propelling the market growth.
- Stringent energy efficiency regulations and the enhanced focus on sustainable building practices are driving the widespread adoption of gypsum board, which, in turn, is contributing to the market growth. In addition to this, increasing disposable income levels in many countries are resulting in higher consumer spending on residential and commercial construction projects, leading to the growth of the gypsum board market.
- The rising need for affordable housing solutions, particularly in developing countries, is creating significant market growth for gypsum board. Along with this, supportive government initiatives and policies promoting construction activities, such as infrastructure development, housing schemes, and urbanization projects, are positively impacting the gypsum board market.
- The rising awareness regarding fire safety in buildings is facilitating the demand for fire-resistant materials like gypsum board is contributing to the market growth. Since gypsum offers excellent fire resistance, this is acting as a major growth-inducing factor.
- The increasing need for acoustic insulation in residential, commercial, and institutional buildings is increasing the use of gypsum board, which offers soundproofing capabilities, thereby fostering the market growth. Furthermore, investments in commercial sectors, such as offices, retail spaces, hotels, and educational institutions, is contributing to the market growth of gypsum board as a preferred material for interior applications.
- Continuous advancements in manufacturing technologies and processes are resulting in the improved quality and enhanced strength and durability of gypsum board, thereby driving the market growth.
- Other factors, such as the rising environmental consciousness among individuals, along with rapid industrialization, particularly in emerging economies, are creating a positive outlook for the market across the globe.
Who are the key players operating in the industry?
The report covers the major market players including:
- Beijing New Building Material (BNBM) Group Corporation Limited
- Compagnie de Saint-Gobain S.A
- Knauf Gips KG
- Etex SA/NV
- USG Boral Products Pty Limited
- Yoshino Gypsum Corporation Limited
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by type:
- wallboard
- ceiling
- pre-decorated
Breakup by region:
- residential
- corporate
- commercial
- institutional sectors
Breakup by Region:
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Argentina, Colombia, Chile, Peru, Others)
- Middle East and Africa ( Turkey, Saudi Arabia, Iran, United Arab Emirates, South Africa and Others)
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