According to the latest report by IMARC Group, titled “Gypsum Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global gypsum board market size reached US$ 23.7 Billion in 2019. A gypsum board, also known as drywall and plasterboard, refers to a panel made using a mixture of gypsum and water pressed between two sheets of thick paper. It is widely used in the construction industry in walls, ceilings and partition systems, particularly in the residential and commercial building projects, as it is considered as a faster alternative to the conventional plastering process. Some of the benefits offered by gypsum boards include durability, lightweight, cost-effectiveness, ease of installation and fire-resistance.
Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Gypsum Board Market Trends:
Gypsum board is a recyclable, green building material that aids in sustainable and low-cost construction. The growing awareness among consumers about environment-friendly and safer construction materials is escalating the demand for gypsum boards in retrofitting and renovation applications. Besides this, the gradual transition from traditional building structures to innovative architectural designs has led end users to shift toward gypsum boards. This can be attributed to the variety of designs offered by manufacturers, along with the introduction of more durable panels with improved sag resistance. They have also launched innovative products, such as air-purifying and sound-reducing gypsum boards, which contain a viscoelastic polymer middle layer between two specially formulated thin layers. Moreover, a significant rise in the number of infrastructure development projects, large-scale industrialization, favorable government initiatives, growing demand for quality housing and enhanced standards of living are some of the other factors that are propelling the growth of the market. Looking forward, the market value is projected to reach US$ 32.9 Billion by 2025, at a projected CAGR of 5.6% during the forecast period (2020-2025).
- On the basis of the type, the market has been segregated into wall, ceiling, pre-decorated and other boards. At present, wallboard is the most widely used product across the globe.
- Based on the end use, the report finds that the residential sector dominates the market, followed by the corporate, commercial and institutional sectors.
- Region-wise, Asia Pacific enjoys the leading position in the market. Other major regions include North America, Western Europe, Eastern Europe, Middle East and Africa, and Central and South America.
- The competitive landscape of the market has been examined, with some of the key players being Beijing New Building Material (BNBM) Group Co., Ltd., Compagnie de Saint-Gobain S.A, Knauf Gips KG, Etex SA/NV, USG Boral Products Pty Limited and Yoshino Gypsum Co., Ltd.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Follow us on twitter: @imarcglobal