Gypsum board Market Outlook
According to the report by Expert Market Research (EMR), the global gypsum board market size is projected to grow at a CAGR of 5.3% between 2024 and 2032. Aided by the rising applications in the construction industry and the advantages it brings in terms of design flexibility and sound insulation, the market is expected to grow significantly by 2032.
Gypsum board, colloquially known as drywall or wallboard, is a panel crafted from calcium sulphate dihydrate (gypsum) with or without additives. It’s typically extruded between thick sheets of facer and backer paper. Serving as a modern alternative to traditional methods like lath and plaster, gypsum board has become an integral component in contemporary construction, primarily due to its ease of installation, cost-effectiveness, and fire resistance.
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One of the primary forces propelling the gypsum board market growth is its significant role in modern architectural designs. With urbanisation on the rise and the consequent boom in the construction sector, especially in developing regions, the demand for building materials like gypsum board, which ensures quicker construction times and design versatility, has soared.
Furthermore, the eco-friendly nature of gypsum board, derived from natural sources and recyclable, appeals to the current generation’s sustainability ethos. Its innate property of being a good insulator of heat and sound makes it an excellent choice for both residential and commercial buildings, optimising energy efficiency and ensuring a quiet environment, respectively.
The construction industry’s evolution, with a shift towards modular and prefabricated structures, has further influenced the gypsum board market outlook. The ease of installation and the lightweight nature of gypsum boards make them ideal for such modern construction techniques.
In addition to the architectural realm, the utility of gypsum board extends to specialised areas. For instance, in spaces where moisture resistance is crucial, such as bathrooms and kitchens, specialised water-resistant gypsum boards are employed. Moreover, in settings demanding higher fire resistance, like in commercial complexes or public buildings, type X gypsum boards, known for their enhanced fire-retardant properties, are preferred.
In terms of region, the Asia Pacific accounts for a significant portion of the gypsum board market share. The rise in infrastructural projects, both government-led and private, in emerging economies of Asia-Pacific and Africa, offers a plethora of opportunities for the gypsum board market. The rapid urbanisation, coupled with the increasing purchasing power in these regions, ensures a sustained demand for modern housing and commercial spaces, thereby driving the market for gypsum boards.
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Gypsum board Market Segmentation
The market can be divided based on type, product, end use, and region.
Market Breakup by Type
- Standard
- Type X
- Others
Market Breakup by Product
- Wallboard
- Ceiling
- Pre-decorated
- Others
Market Breakup by End Use
- Residential
- Commercial
- Industrial
- Institutional
- Others
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global gypsum board market. Some of the major players explored in the report by Expert Market Research are as follows:
- Saint Gobain
- Knauf Gips KG
- Georgia-Pacific LLC
- USG BORAL
- Etex Group
- LafargeHolcim Ltd
- Others
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