Growth Factors of Gypsum Board Market
The global gypsum board market is experiencing significant growth, driven by the expansion of the construction industry, particularly in emerging economies. In 2023, the market was valued at USD 13.29 billion and is projected treach USD 18.16 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.6% during the forecast period.
Market Overview
Gypsum boards, alsknown as drywall or plasterboard, are essential components in modern construction, primarily used for ceilings and partition walls. Their popularity stems from attributes such as cost-effectiveness, ease of installation, fire resistance, and sound insulation properties. The market offers various types of gypsum boards, including regular, moisture-resistant, fire-resistant, mobile, and pre-decorated boards, catering tdiverse construction needs.
Regional Insights
Asia Pacific emerged as the dominant region in the gypsum board market, accounting for a 43.42% share in 2023. This dominance is attributed trapid urbanization and infrastructure development in countries like China, India, and Japan. The region's construction boom, fueled by increasing population and economic growth, has led theightened demand for efficient and sustainable building materials, positioning gypsum boards as a preferred choice.
Impact of COVID-19
The COVID-19 pandemic posed challenges tthe gypsum board market, including supply chain disruptions, labor shortages, and delays in construction projects. However, as economies began trecover and construction activities resumed, the market witnessed a gradual rebound. The pandemic underscored the importance of resilient supply chains and the need for adaptable business strategies in the construction materials sector.
Market Segmentation
1. By Type:
Regular Gypsum Boards: The most commonly used type, favored for standard applications due ttheir versatility and cost-effectiveness.
Fire & Moisture Resistant Boards: Specialized boards designed for areas requiring enhanced fire resistance or moisture protection, such as kitchens and bathrooms.
Others: Includes specialty boards catering tspecific architectural or acoustic requirements.
2. By Installation:
Screwing intStuds: A traditional method offering strong attachment, commonly used in residential constructions.
Gluing tConcrete: Preferred in commercial settings for its efficiency and suitability for concrete structures.
3. By Application:
Gypsum Board Partitioning: Utilized tcreate internal walls and partitions, providing flexibility in interior design.
Ceilings and Wall Coverings: Employed for aesthetic enhancements and functional purposes like insulation and soundproofing.
4. By End-Use:
Residential: Driven by the demand for new housing and renovation projects, especially in urban areas.
Commercial: Includes offices, retail spaces, and institutions requiring durable and compliant building materials.
Others: Encompasses industrial and infrastructural applications where gypsum boards meet specific construction standards.
Growth Drivers
The expansion of the building and construction industry, particularly in emerging economies, is a significant driver of the gypsum board market. Factors such as accelerated urbanization, substantial infrastructure investments, technological advancements, and a growing demand for sustainable building practices contribute tthis growth. Countries like China and India are experiencing rapid urban development, leading tincreased adoption of gypsum boards in both residential and commercial constructions.
Challenges
Environmental concerns associated with gypsum board waste pose challenges tmarket growth. When disposed of in landfills, gypsum can produce harmful gases like hydrogen sulfide. Additionally, the decomposition of paper in gypsum boards releases methane, a potent greenhouse gas. These environmental issues, coupled with stringent regulations, necessitate the development of sustainable disposal and recycling methods tmitigate negative impacts.
Opportunities
Recycling of gypsum boards presents a significant opportunity for market growth. Recycled gypsum can be repurposed intvarious products, including new drywall, cement, and agricultural applications. This not only reduces environmental impact but alspromotes sustainable manufacturing practices by decreasing energy consumption and emissions associated with raw gypsum mining. Industry initiatives, such as the development of the 'ASTM C1881 – 20 Standard Guide for Closed-Loop Recycling of Scrap Gypsum Panel Products,' facilitate the safe recycling of gypsum boards, driving innovation and opening new market segments.
Key Players and Strategic Initiatives
The gypsum board market comprises several key players actively engaged in strategic initiatives tstrengthen their market position:
- Saint-Gobain: In April 2024, Saint-Gobain Gyproc became the first company in India tproduce low-carbon gypsum, reducing global warming potential by 40% over its lifecycle. This initiative aligns with the company's commitment tsustainable building solutions.
- Knauf Gypsum Pty Ltd: Following the acquisition of USG Boral Building Products Pty Limited, Knauf rebranded the entity as Knauf Gypsum Pty Ltd in February 2022. This strategic move aims texpand Knauf's global footprint and strengthen its position in key growth markets.
The gypsum board market is poised for steady growth, supported by the ongoing expansion of the construction industry and increasing emphasis on sustainable building materials. Technological advancements and product innovations, such as the development of low-carbon and recyclable gypsum boards, are expected tmeet evolving consumer preferences and regulatory requirements.
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD Billion) and Volume (Mn Sq. Mtr)
Growth Rate CAGR of 3.6% during 2024-2032
Segmentation By Type
- Regular Gypsum Boards
- Fire & Moisture Resistant Boards
- Others
- Screwing intStuds
- Gluing tConcrete
- Others
- Gypsum Board Partitioning
- Ceilings and Wall Coverings
- Others
- Residential
- Commercial
- Others
- North America (By Type, By Installation, By Application, By End-Use, By Country)
Canada (By End-Use)
- Europe (By Type, By Installation, By Application, By End-Use, By Country)
U.K. (By End-Use)
France (By End-Use)
Italy (By End-Use)
Rest of Europe (By Application)
- Asia Pacific (By Type, By Installation, By Application, By End-Use, By Country)
India (By End-Use)
Japan (By End-Use)
Taiwan (By End-Use)
Rest of Asia Pacific (By End-Use)
- Latin America (By Type, By Installation, By Application, By End-Use, By Country)
Mexic(By End-Use)
Rest of Latin America (By End-Use)
- Middle East & Africa (By Type, By Installation, By Application, By End-Use, By Country)
South Africa (By End-Use)
Rest of Middle East & Africa (By End-Use)
- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 4. Key Insights
- 4.1. Key Market Trends in the Global Market
- 4.2. Key Developments: Mergers, Acquisition, Partnership, etc.
- 4.3. Latest Technological Advancement
- 4.4. Insights on Regulatory Scenario
- 4.5. Porters Five Forces Analysis
- 4.6. Qualatative Insight on COVID-19 Impact
- 4.7. Qualitative Analysis related to Gypsum Board Wallpaper
- 5. Global Gypsum Board Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Key Findings / Summary
- 5.2. By Type(Value/Volume)
- 5.2.1. Regular Gypsum Boards
- 5.2.2. Fire & Moisture Resistant Boards
- 5.2.3. Others
- 5.3. By Installation
- 5.3.1. Screwing into Studs
- 5.3.2. Gluing to Concrete
- 5.3.3. Others
- 5.4. By Application (Value/Volume)
- 5.4.1. Gypsum Board Partitioning
- 5.4.2. Ceilings and Wall Coverings
- 5.4.3. Others
- 5.5. By End-Use (Value/Volume)
- 5.5.1. Residential
- 5.5.2. Commercial
- 5.5.3. Others
- 5.6. By Region (Value/Volume)
- 5.6.1. North America
- 5.6.2. Europe
- 5.6.3. Asia Pacific
- 5.6.4. Latin America
- 5.6.5. Middle East & Africa
- 6. North America Gypsum Board Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Key Findings / Summary
- 6.2. By Type(Value/Volume)
- 6.2.1. Regular Gypsum Boards
- 6.2.2. Fire & Moisture Resistant Boards
- 6.2.3. Others
- 6.3. By Installation
- 6.3.1. Screwing into Studs
- 6.3.2. Gluing to Concrete
- 6.3.3. Others
- 6.4. By Application (Value/Volume)
- 6.4.1. Gypsum Board Partitioning
- 6.4.2. Ceilings and Wall Coverings
- 6.4.3. Others
- 6.5. By End-Use (Value/Volume)
- 6.5.1. Residential
- 6.5.2. Commercial
- 6.5.3. Others
- 6.6. By Country
- 6.6.1. U.S.
- 6.6.1.1. By End-use (Value/Volume)
- 6.6.1.1.1. Residential
- 6.6.1.1.2. Commercial
- 6.6.1.1.3. Others
- 6.6.2. Canada
- 6.6.2.1. By End-use (Value/Volume)
- 6.6.2.1.1. Residential
- 6.6.2.1.2. Commercial
- 6.6.2.1.3. Others
- 7. Europe Gypsum Board Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Key Findings / Summary
- 7.2. By Type(Value/Volume)
- 7.2.1. Regular Gypsum Boards
- 7.2.2. Fire & Moisture Resistant Boards
- 7.2.3. Others
- 7.3. By Installation
- 7.3.1. Screwing into Studs
- 7.3.2. Gluing to Concrete
- 7.3.3. Others
- 7.4. By Application (Value/Volume)
- 7.4.1. Gypsum Board Partitioning
- 7.4.2. Ceilings and Wall Coverings
- 7.4.3. Others
- 7.5. By End-Use (Value/Volume)
- 7.5.1. Residential
- 7.5.2. Commercial
- 7.5.3. Others
- 7.6. By Country (Value/Volume)
- 7.6.1. Germany
- 7.6.1.1. By End-use (Value/Volume)
- 7.6.1.1.1. Residential
- 7.6.1.1.2. Commercial
- 7.6.1.1.3. Others
- 7.6.2. U.K.
- 7.6.2.1. By End-use (Value/Volume)
- 7.6.2.1.1. Residential
- 7.6.2.1.2. Commercial
- 7.6.2.1.3. Others
- 7.6.3. France
- 7.6.3.1. By End-use (Value/Volume)
- 7.6.3.1.1. Residential
- 7.6.3.1.2. Commercial
- 7.6.3.1.3. Others
- 7.6.4. Italy
- 7.6.4.1. By End-use (Value/Volume)
- 7.6.4.1.1. Residential
- 7.6.4.1.2. Commercial
- 7.6.4.1.3. Others
- 7.6.5. Rest of Europe
- 7.6.5.1. By End-use (Value/Volume)
- 7.6.5.1.1. Residential
- 7.6.5.1.2. Commercial
- 7.6.5.1.3. Others
- 8. Asia-Pacific Gypsum Board Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Key Findings / Summary
- 8.2. By Type(Value/Volume)
- 8.2.1. Regular Gypsum Boards
- 8.2.2. Fire & Moisture Resistant Boards
- 8.2.3. Others
- 8.3. By Installation
- 8.3.1. Screwing into Studs
- 8.3.2. Gluing to Concrete
- 8.3.3. Others
- 8.4. By Application (Value/Volume)
- 8.4.1. Gypsum Board Partitioning
- 8.4.2. Ceilings and Wall Coverings
- 8.4.3. Others
- 8.5. By End-Use (Value/Volume)
- 8.5.1. Residential
- 8.5.2. Commercial
- 8.5.3. Others
- 8.6. By Country (Value/Volume)
- 8.6.1. China
- 8.6.1.1. By End-use (Value/Volume)
- 8.6.1.1.1. Residential
- 8.6.1.1.2. Commercial
- 8.6.1.1.3. Others
- 8.6.2. India
- 8.6.2.1. By End-use (Value/Volume)
- 8.6.2.1.1. Residential
- 8.6.2.1.2. Commercial
- 8.6.2.1.3. Others
- 8.6.3. Japan
- 8.6.3.1. By End-use (Value/Volume)
- 8.6.3.1.1. Residential
- 8.6.3.1.2. Commercial
- 8.6.3.1.3. Others
- 8.6.4. Taiwan
- 8.6.4.1. By End-use (Value/Volume)
- 8.6.4.1.1. Residential
- 8.6.4.1.2. Commercial
- 8.6.4.1.3. Others
- 8.6.5. Rest of Asia-Pacific
- 8.6.5.1. By End-use (Value/Volume)
- 8.6.5.1.1. Residential
- 8.6.5.1.2. Commercial
- 8.6.5.1.3. Others
- 9. Latin America Gypsum Board Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Key Findings / Summary
- 9.2. By Type(Value/Volume)
- 9.2.1. Regular Gypsum Boards
- 9.2.2. Fire & Moisture Resistant Boards
- 9.2.3. Others
- 9.3. By Installation(Value/Volume)
- 9.3.1. Screwing into Studs
- 9.3.2. Gluing to Concrete
- 9.3.3. Others
- 9.4. By Application (Value/Volume)
- 9.4.1. Gypsum Board Partitioning
- 9.4.2. Ceilings and Wall Coverings
- 9.4.3. Others
- 9.5. By End-Use (Value/Volume)
- 9.5.1. Residential
- 9.5.2. Commercial
- 9.5.3. Others
- 9.6. By Country (Value/Volume)
- 9.6.1. Brazil
- 9.6.1.1. By End-use (Value/Volume)
- 9.6.1.1.1. Residential
- 9.6.1.1.2. Commercial
- 9.6.1.1.3. Others
- 9.6.2. Mexico
- 9.6.2.1. By End-use (Value/Volume)
- 9.6.2.1.1. Residential
- 9.6.2.1.2. Commercial
- 9.6.2.1.3. Others
- 9.6.3. Rest of Latin America
- 9.6.3.1. By End-use (Value/Volume)
- 9.6.3.1.1. Residential
- 9.6.3.1.2. Commercial
- 9.6.3.1.3. Others
- 10. Middle East & Africa Gypsum Board Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Key Findings / Summary
- 10.2. By Type(Value/Volume)
- 10.2.1. Regular Gypsum Boards
- 10.2.2. Fire & Moisture Resistant Boards
- 10.2.3. Others
- 10.3. By Installation(Value/Volume)
- 10.3.1. Screwing into Studs
- 10.3.2. Gluing to Concrete
- 10.3.3. Others
- 10.4. By Application (Value/Volume)
- 10.4.1. Gypsum Board Partitioning
- 10.4.2. Ceilings and Wall Coverings
- 10.4.3. Others
- 10.5. By End-Use (Value/Volume)
- 10.5.1. Residential
- 10.5.2. Commercial
- 10.5.3. Others
- 10.6. By Country (Value/Volume)
- 10.6.1. GCC
- 10.6.1.1. By End-use (Value/Volume)
- 10.6.1.1.1. Residential
- 10.6.1.1.2. Commercial
- 10.6.1.1.3. Others
- 10.6.2. South Africa
- 10.6.2.1. By End-use (Value/Volume)
- 10.6.2.1.1. Residential
- 10.6.2.1.2. Commercial
- 10.6.2.1.3. Others
- 10.6.3. Rest of the Middle East & Africa
- 10.6.3.1. By End-use (Value/Volume)
- 10.6.3.1.1. Residential
- 10.6.3.1.2. Commercial
- 10.6.3.1.3. Others
- 11. Competetive Analysis
- 11.1. Company Market Share/ Ranking Analysis, 2023
- 11.2. Company Profiles
- 11.2.1. Cabot Gypsum
- 11.2.1.1. Overview
- 11.2.1.2. Description
- 11.2.1.3. Product Portfolio
- 11.2.1.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.1.5. Recent Developments
- 11.2.2. Eagle Materials Inc.
- 11.2.2.1. Overview
- 11.2.2.2. Description
- 11.2.2.3. Product Portfolio
- 11.2.2.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.2.5. Recent Developments
- 11.2.3. Fletcher Building
- 11.2.3.1. Overview
- 11.2.3.2. Description
- 11.2.3.3. Product Portfolio
- 11.2.3.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.3.5. Recent Developments
- 11.2.4. KNAUF
- 11.2.4.1. Overview
- 11.2.4.2. Description
- 11.2.4.3. Product Portfolio
- 11.2.4.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.4.5. Recent Developments
- 11.2.5. Mada Gypsum Company
- 11.2.5.1. Overview
- 11.2.5.2. Description
- 11.2.5.3. Product Portfolio
- 11.2.5.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.5.5. Recent Developments
- 11.2.6. National Gypsum Company
- 11.2.6.1. Overview
- 11.2.6.2. Description
- 11.2.6.3. Product Portfolio
- 11.2.6.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.6.5. Recent Developments
- 11.2.7. Saint-Gobain
- 11.2.7.1. Overview
- 11.2.7.2. Description
- 11.2.7.3. Product Portfolio
- 11.2.7.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.7.5. Recent Developments
- 11.2.8. Taishan Gypsum Co., Ltd.
- 11.2.8.1. Overview
- 11.2.8.2. Description
- 11.2.8.3. Product Portfolio
- 11.2.8.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.8.5. Recent Developments
- 11.2.9. Beijing New Building Materials Public Limited Company (BNBM)
- 11.2.9.1. Overview
- 11.2.9.2. Description
- 11.2.9.3. Product Portfolio
- 11.2.9.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.9.5. Recent Developments
- 11.2.10. YOSHINO GYPSUM CO. LTD.
- 11.2.10.1. Overview
- 11.2.10.2. Description
- 11.2.10.3. Product Portfolio
- 11.2.10.4. Financials (Data as available in public domain and/or on paid databases)
- 11.2.10.5. Recent Developments
- 12. Strategic Recommendations
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