The global gypsum board market size was USD 51 Billion in 2022 and is expected to reach USD 153.21 Billion in 2032, and register a rapid revenue CAGR of 13% during the forecast period. Rapid urbanization and expansion in the construction sector, particularly in emerging markets, and rising consumer demand for environment-friendly and cost-effective building materials, as well as simplicity of installation and affordability of gypsum boards are major factors driving market revenue growth.
Gypsum boards, also known as Plasterboard or plasterboard, are frequently used in the building industry for interior walls and ceilings, due to their qualities including fire resistance, sound insulation, and moisture resistance. Gypsum board demand in the construction industry is rising by increasing use of green buildings and eco-friendly construction techniques.
North America accounted for the largest revenue share in 2021 due to growing environmental awareness promoting sustainable building materials, increasing demand from the residential and commercial sectors, and various innovations and the rapid introduction of state-of-the-art technology in gypsum manufacturing.
Companies profiled in the market report include National Gypsum Services Company, Saint-Gobain Gyproc India Ltd, USG Corporation, American Gypsum Company, LLC., Georgia-Pacific., Global Gypsum Co. Ltd, Holcim, Knauf Digital GmbH, Etex Group, and Certainteed.
The global gypsum board market has been segmented based on type outlook, end-use outlook, product outlook, and regional outlook. Type outlook includes Regular Gypsum Board, Type X, and Others; End-Use Outlook includes Residential, Institutional, Commercial use, Industrial, and Others; Product Outlook includes Wall Board, Ceiling Board, Pre-Decorated Board, and Others; and Regional Outlook includes North America, Europe, Asia-Pacific, Latin America, Middle East Africa.
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Gypsum Board Market: Drive factors
The growth of the gypsum board market is being driven by several factors. Firstly, the increasing demand for sustainable building materials due to growing environmental awareness is promoting the adoption of gypsum boards as an eco-friendly option. Additionally, the inherent fire resistance, light weight, and excellent finish quality of gypsum boards are making them a preferred building material in both residential and commercial applications. The emphasis on soundproofing and acoustic properties in gypsum products is also contributing to their acceptance in luxury homes and commercial buildings.
Government initiatives and increasing investment are also driving revenue growth in the market. For example, the formation of a task force by the New Zealand government to address the nationwide shortage of gypsum wallboard, which includes gypsum industry experts, is expected to boost the competitiveness of the building materials sector. Key companies, such as Saint-Gobain and Chiyoda Ute, are also investing in modernization and efficiency measures to increase production and reduce energy consumption, leading to a significant revenue growth in the market.
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