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The global gypsum board market reached a value of US$ 24.4 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 7.2% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use sectors. These insights are included in the report as a major market contributor.
Gypsum boards are lightweight construction materials that are widely being used as walls, ceilings and for partitions in interiors or exteriors of residential or non-residential structures. They are often called drywall, wallboard or plasterboard and can be directly attached to wood and metal framing or existing surfaces using screws, nails or adhesives. Gypsum boards provide sound control, versatility, quality, convenience and their non-combustible core makes them different from plywood, hardboard and fiberboard. Thus, they have become prevalent and are serving as a speedier alternative to traditional lath and plaster.
The demand for gypsum boards is directly related to the growth of the construction sector, especially the commercial and the housing sectors. Currently, the Asia Pacific represents the world’s largest market for gypsum boards followed by North America and Europe. Factors like-strong recovery in building construction spending in both developed and emerging markets, increasing demand for quality housing and better living conditions, large scale industrialization, and supporting government policies in major markets are expected to drive this market in the short and medium terms.
This report provides a deep insight into the global gypsum board industry covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. The report also provides a comprehensive analysis for setting up a gypsum board manufacturing plant. The study analyses the processing and manufacturing requirements, project cost, project funding, project economics, expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the gypsum board industry in any manner.
The growing awareness regarding environment-friendly and safer construction materials has escalated the demand for gypsum boards in retrofitting and renovation applications. A gradual transition from traditional to innovative architectural designs has also encouraged end-users to shift toward gypsum boards.
According to the estimates by IMARC Group, the global gypsum board market is expected to grow at a CAGR of 7.2% during 2021-2026.
The expanding construction sector, along with the rising demand for high-end building materials for convenient installation over traditional lath and plaster, represent some of the key drivers for the global gypsum board market.
The introduction of numerous innovative product variants, such as air-purifying and sound-reducing gypsum boards which contain a viscoelastic polymer middle layer between two specially formulated thin layers, represents one of the key trends in the global gypsum board market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in temporary halt in numerous construction activities, thereby limiting the demand for gypsum boards.
On the basis of the type, the market has been bifurcated into wallboard, ceiling, pre-decorated board, and others. Currently, wallboards hold the majority of the total market share.
On the basis of the end-use, the market has been segmented into residential, corporate, commercial, and institutional. At present, the residential sector exhibits a clear dominance in the market.
Region-wise, the market has been classified into Asia Pacific, North America, Western Europe, Eastern Europe, Middle East and Africa, and Central and South America, where Asia Pacific dominates the global market.
The key companies in the global gypsum board market are 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.
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