New York, United States , Dec. 04, 2023 (GLOBE NEWSWIRE) -- The Global Gypsum Board Market Size is to Grow from USD 44.15 Billion in 2022 to USD 107.4 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.3% during the projected period.
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Gypsum board is a low-density material composed of a lightweight clay layer and a paper coating. It is also known as plasterboard, drywall, or wallboard. Gypsum boards are formed mostly of gypsum and additives and are wrapped in paper. They are lightweight and can be cut into various shapes and fashions for a more aesthetically pleasing appearance. They are suitable for both commercial and residential buildings. When compared to standard concrete barriers, they are extremely simple and quick to build, as well as extremely inexpensive. Furthermore, when compared to other paneling materials such as fiberboard, oak, and plywood, gypsum board stands out due to its characteristics such as fire resistance, adaptability, long-term stability, ease of installation, and low cost. The expanding house development trend, rapid urbanization in major nations, increased government spending in the real estate industry for residential buildings, and rising consumer demand for opulent housing are the primary drivers of the gypsum board market. Furthermore, the adaptability and ease of use of these boards allow them to be used in a variety of end-uses in the building and construction sectors. The product's lightweight structure is one of the key aspects that has contributed to its global success. Similarly, the growing popularity of one-of-a-kind "green" buildings and technologically savvy communities around the world that attempt to conserve energy and minimize the exploitation of renewable resources is driving the gypsum board industry.
Browse key industry insights spread across 200 pages with 110 market data tables and figures & charts from the report on "Global Gypsum Board Market Size, Share, and COVID-19 Impact Analysis, By Product (Wallboard, Ceiling Board, Pre-decorated Board, Others), By Application (Residential, Industrial, Commercial, Institutional, Pre-engineered Metal Buildings, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032".
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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 extensively used in the building industry for a number of internal applications such as walls and partitions. Furthermore, wallboard has grown as a quicker alternative to traditional lath and plaster. Throughout the forecast period, increased demand for environmentally friendly buildings in North America and Europe is expected to drive product demand.
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. The ongoing need for housing, as well as the diverse applications of gypsum board in residential structures and restoration, are driving this dominance. It is often used for walls, ceilings, and partitions due to its fire resistance, soundproofing, and ease of painting or wallpapering over.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 38.7% market share over the forecast period. The region's lead in the gypsum board market is fueled by substantial building activity, particularly in emerging nations, and significant infrastructure investments. Gypsum board demand is increasing as a result of rising housing and commercial space demand in the region, which is being fueled by rapid urbanization, infrastructure development, and rising disposable incomes. On the other hand, North America is predicted to expand the fastest during the forecast period. The North American real estate and construction industries are well-established, with consistent demand for gypsum boards for residential, commercial, and industrial applications. During the forecast period, the market in Europe is expected to rise at a significant CAGR. The building business in Europe is growing, with a diverse range of residential, commercial, and infrastructure projects.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Gypsum Board Market include 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 among others.
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Recent Market Developments
On May 2023, Skamol has been acquired by Etex. Etex expanded its expertise in supplying a wide range of insulation solutions to meet the growing demand for sustainable and energy-efficient construction materials, including gypsum boards, with the acquisition of Skamol.
Market Segment
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
- Wallboard
- Ceiling Board
- Pre-decorated Board
- Others
Gypsum Board Market, Application Analysis
- Residential
- Industrial
- Commercial
- Institutional
- Pre-engineered Metal Buildings
- Others
Gypsum Board Market, Regional Analysis
- 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 Middle East & Africa
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