by The global Gypsum Board Market is estimated to be valued at US$ 56.68 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Gypsum board, also known as drywall or wallboard, is a panel made of calcium sulfate dihydrate, with or without additives. Gypsum boards are widely used as affordable and quick construction materials in the interior of buildings for walls and ceilings. They provide thermal insulation, sound insulation, and fire resistance properties. Growing construction industry and rapid urbanization drive the demand for gypsum boards in residential and commercial construction projects.
Market key trends:
Growth in industrial automation and robotics is increasing the use of gypsum boards in factories and warehousing facilities. Automation and robotics leads to smaller production floors and more partitions. Gypsum boards provide affordable and quick partitioning solutions. Also, automated manufacturing of gypsum boards is reducing production costs. Key players are investing in R&D to develop gypsum boards with better properties like moisture resistance, strength etc. for various applications. Rising integration of gypsum boards with LED lights and other smart materials is another trend in this market.
Porter’s Analysis
Threat of new entrants: Low barrier to entry as the production process of gypsum board is uncomplicated. However, established brands have economies of scale and access to distribution channels.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of substitutes. However, gypsum boards offer value for money and are widely used in construction.
Bargaining power of suppliers: Suppliers have moderate power as raw materials like gypsum and additives have few substitutes. However, established brands can source from multiple suppliers.
Threat of new substitutes: Substitutes like cement boards offer competition but gypsum boards are widely used, cost-effective and multipurpose.
Competitive rivalry: Intense competition among established brands. Factors like pricing, quality, delivery and services determine competitive edge.
Key Takeaways
The global gypsum board market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing construction activities across the globe. Rapid urbanization and growing infrastructure development are driving the demand for gypsum boards in regions.
The Asia Pacific region is expected to dominate the gypsum board market during the forecast period. Abundant availability of raw materials and low production costs make Asia Pacific an attractive market. Countries like China, India and Indonesia are major consumers as well as producers of gypsum boards in the region.
Key players operating in the gypsum board market are Saint-Gobain, United Mining Industries, Taishan Gypsum Co., Ltd., Knauf, Baier Group, Yoshino Gypsum Co., Ltd., Gulf Gypsum Board, Gypsemna, Georgia-Pacific Gypsum LLC, and Arcat, Inc., among others. Manufacturers are focusing on expansion in emerging markets and introducing innovative products to gain a competitive edge.
