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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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