The Global Gypsum Board Market was valued at USD 47.6 Bn in 2020 and is expected to reach USD 106.6 Bn by 2027, with a growing CAGR of 12.3% during the forecast period.
Gypsum board, often known as drywall, is the most widely used construction material in residential, institutional, and commercial structures for wall, ceiling, and partition systems. They also offer sound management, adaptability, quality, and convenience. Gypsum board manufacturers use the term "gypsum board" to refer to a particular board having a gypsum core and a paper facing.
The construction industry is majorly driving the demand for gypsum-boards. Gypsum board offers benefits such as sound attenuation, quicker installation, and cost-effectiveness is an easy substitute for other materials used in construction such as plywood, wood, brick, and other traditional building materials. These characteristics of gypsum boards mentioned above are anticipated to support the market growth in the near future. Additionally, end consumers of gypsum board are also likely to be enticed by other benefits of gypsum boards such as improved mould, weather & fire resistance, as well as a high aesthetic appeal. For instance, China National Building Material Company sold more than two trillion square meters of gypsum drywall in 2020, a 2.5% increase over the previous year.
Rising urban migration in major economies such as China, & India is expected to drive the market growth during the forecast period. This migration leads to increase in demand for the construction sector. Wallboards and ceiling boards, for example, are frequently utilized to improve the interior of residential and commercial structures. Increased government expenditure in the real estate market for residential development, and growing demand for high-end residential houses are expected to support the market expansion during the forecast period. For instance, more than 4 billion people reside in urban areas across the globe. However, volatile raw material prices may hamper the market growth.
By Type
By Deployment
By Application
By Region
The unique insights provided by this report also include the following:
Based on type, the regular gypsum board segment held the largest market share in 2020 and is expected to grow significantly due to its use in construction
Based on type, the market has been segmented into type x gypsum board and regular gypsum board. The regular gypsum board segment based on type accounted for the largest market share in 2020 and is expected to grow significantly during the forecast period. Gypsum board is widely utilized in drywall construction, which eliminates the need for plaster. Additionally, it is also available in the market with one surface coated with aluminum and another surface covered with heat-reflecting foil or imitation wood grain or another design on the external surface. Therefore, these heat reflector gypsum boards used in construction are expected to drive the market growth during the forecast period. For instance, the ongoing construction activities in the Middle East especially in Qatar for the FIFA 2022 World cup, are expected to use gypsum boards, as these stadiums need more aesthetic appeal. The use of gypsum drywall is anticipated to drive the market growth in the near future.
Based on application, the residential segment in the gypsum board market accounted for the largest market share as governmental support in residential construction is observed
Based on application, the market has been segmented into commercial, residential, institutional, and others. The residential segment held the largest market share in 2020. For instance, In 2019, according to a report from the U.S. Home and Urban Development and Commerce departments, the total housing rise reached a 13-year high achieving the construction mark of 1.61 million housing units. This was a 16.9% increase in December as compared to the previous year.
Based on region, the Asia Pacific holds the significant market share during the forecast period
Based on region, the global gypsum board market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America has a mature gypsum market that has grown since the residential home development boom from 2019. North America region accounted for the largest market share in the gypsum board market. Additionally, Some of the leading manufacturers have been in business for more than a decade, while others have lately joined the market owing to the availability of gypsum. For instance, Certain Teed is a Canadian gypsum manufacturer founded in 1904 which provides gypsum ceilings & walls. The increasing construction spending from the government is anticipated to support the market growth. For instance, in August 2021, according to Statistics Canada, the total investment in building construction was estimated to be 17.7 billion CAD.
The report also provides an in-depth analysis of gypsum board market dynamics such as drivers, restraints, opportunities, and challenges
Drivers
Restraints
Opportunities
Challenges
The COVID-19 outbreak had a huge impact on many companies throughout the globe, resulting in economic stagnation. Lockdowns forced the migration of different supply chain disruptions all around the globe. As a result, construction projects around the world have been temporarily suspended in 2020. Though most impacted projects had their completion deadlines pushed back due to labor shortage. However, as the globe recovers from the Covid-19 pandemic, the most critical issue affecting the building industry may be productivity. Additionally, the utilization of 3D printing and robots is critical in addressing the construction industry's productivity issue. Though the technology is still in its preliminary stages, there have been successful instances of 3D-printed structures across the world, and the technology provides several advantages over the conventional building methods.
Note: A detailed analysis is specific to the gypsum board market will be provided in the report
The report also provides an in-depth analysis of key trends in the Gypsum Board Market
The report also provides an in-depth analysis of recent news developments and investments
The key players operating in the Gypsum Board Market are:
Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.
Research Methodology
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