Gypsum board, commonly known as drywall or plasterboard, is a widely used building material consisting of a sheet of gypsum sandwiched between two thick sheets of paper. Gypsum board is easy to install, lightweight, durable, fire resistant and can be painted or wallpapered like traditional building materials. It is used widely as an interior wall and ceiling material in residential and commercial construction along with partitions and ceiling tile alternatives. The rising construction of homes and commercial buildings across residential, industrial and office sectors has created a surge in the demand for gypsum boards globally.
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 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The key factor driving the growth of the gypsum board market is the increasing number of construction activities across the globe. According to the Global Construction 2030 report, the world’s annual construction output is projected to grow by 85% to $15.5 trillion worldwide by 2030, driven by demand from China, India, the U.S., Indonesia and several other countries across Asia and Africa. Moreover, the increasing urbanization has led to the rise in new construction of apartments, commercial buildings and hotels in cities which in turn is boosting the demand for gypsum boards. Innovation in the building materials industry has also led to the development of new gypsum board products that offer enhanced fire resistance, moisture resistance and sound insulation properties. The growing demand for green buildings due to rising environmental awareness is augmenting the market growth as gypsum boards help in reducing weight load on buildings and lower emissions during manufacturing.
Threat of new entrants: The threat of new entrants is low due to high initial investments required in setting up gypsum mines and board manufacturing plants. Bargaining power of buyers: The bargaining power of buyers is high due to the presence of many established players and substitutes. Bargaining power of suppliers: The bargaining power of suppliers is moderate as few global players dominate gypsum mining. Threat of new substitutes: The threat of substitutes like cement board is moderate as gypsum board has advantages in terms of cost and workability. Competitive rivalry: The competitive rivalry is high among the top gypsum board manufacturers globally.
The global gypsum board market is expected to witness high growth. The global Gypsum Board Market is estimated to be valued at US$ 56.68 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.
Regional analysis comprised The North America gypsum board market is expected to dominate during the forecast period supported by rising residential and commercial construction activities in the region. Europe and Asia Pacific are also expected to grow at a significant pace led by China, India, Japan and other developing countries.
Key players related content comprised 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. Saint-Gobain is one of the leading manufacturer with global presence. Knauf has robust distribution network across Europe. Taishan Gypsum has strong manufacturing base in China.