The latest report by IMARC Group, titled “Gypsum Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the global gypsum board market reached a value of US$ 26.9 Billion in 2021. Gypsum board, also known as drywall, wallboard, or plasterboard, is a lightweight construction material utilized in the construction industry in walls, ceilings, or partitions for the interior or exterior of various structures. It is be attached to wood framing as well as existing surfaces with the help of screws, nails, and adhesives. It is also used to reduce mildew, increase fire resistance, and lower water absorption. Recently, the demand for gypsum board has escalated as it offers enhanced versatility, quality, sound control, and non-combustible core compared to conventional plastering process.
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:
The market is primarily driven by the increasing demand for gypsum boards in construction and remodeling activities across commercial and housing sectors. It is employed as covering material for interior walls and ceilings and as a tile backer in limited wetting areas such as bathroom, water closet, basement, kitchen, laundry, and utility rooms. Besides this, with the growing environmental concerns, gypsum board is widely used as it is a recyclable, green building material that aids in sustainable and low-cost construction. Furthermore, governments across these countries are extensively investing in infrastructural development, thereby propelling the demand for gypsum boards. In addition to this, the expansion of the real estate sector owing to rising urban migration is influencing the market growth. Moreover, manufacturers have 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. On account of these factors, the market is expected to reach a value of US$ 37.7 Billion by 2027, growing at a CAGR of 5.73% during 2022-2027.
- Based on the type, the market has been segmented into wallboard, ceiling, pre-decorated, and other types of boards. At present, wallboard is the most widely used product across the globe.
- On the basis of the end use, the market has been classified into residential, corporate, commercial, and institutional sectors. Among these, the residential sector dominates the market.
- Region-wise, Asia Pacific holds 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 Corporation Limited, Compagnie de Saint-Gobain S.A, Knauf Gips KG, Etex SA/NV, USG Boral Products Pty Limited and Yoshino Gypsum Corporation Limited.
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