Gypsum Boards Market

The global Gypsum Boards Market is valued at USD 45.96 Billion in 2022 and is projected to reach a value of USD 60.97 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 3.6% between 2023 and 2030.

Premium Insights

The flourishing global construction industry is the main factor driving the Gypsum Boards market. The high demand for gypsum boards is because they are versatile and used in both residential and commercial construction projects, functioning as a crucial material for interior walls and ceilings. Gypsum boards have many advantages, such as fire resistance, sound insulation, and easy installation, which make them the preferred choice for builders and contractors. Furthermore, the market has been boosted by the increasing focus on sustainable construction methods as gypsum boards are recyclable and enhance energy efficiency in buildings.

• The market is also propelled by the growing trend of modern interior designs and the need for fast and cost-effective construction solutions.
• Asia Pacific generated more than 35.5% of revenue share in 2022
• North America is expected to grow at the quickest rate from 2023 to 2030
• Wallboard segment accounted for the largest market growth. It contributed over 32.5% of the total revenue share in 2022
• Residential segment revealed the most significant market growth, contributing more than 40.2% of the total revenue share in 2022

Economic Insights

The Gypsum Boards market is highly dynamic and influenced by various factors such as rapid urbanization occurring in emerging economies, which is driving demand for residential and commercial construction. Additionally, rising incomes and expanding middle-class populations also contribute to this demand as consumers look for affordable and versatile building materials like gypsum boards. Government investments in infrastructure and real estate projects, both in developed and developing areas, are important in creating opportunities for market expansion. Furthermore, there is a growing emphasis on sustainability in the market, with manufacturers creating gypsum boards from recycled materials to address environmental concerns.

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Top Market Trends

• Increasing demand for residential construction: The demand for gypsum boards is expected to increase due to the growing need for residential housing, particularly in developing countries. These boards are commonly used for walls, ceilings, and partitions in residential construction.
• Growing Urbanization: The demand for gypsum boards is being fueled by the construction of new residential and commercial buildings, a result of rapid urbanization.
• Government Spending on Infrastructure and Real Estate: Infrastructure and real estate projects are being heavily invested in by governments worldwide, presenting new chances for growth in the gypsum board market.
• Technological Advancements: Innovative products are being created due to technological advancements in the gypsum board industry. Self-healing properties and energy generation capabilities are being incorporated into gypsum boards by certain manufacturers.
• Rising Demand for Sustainable Gypsum Boards: The demand for sustainable gypsum boards made from recycled materials and with minimal environmental impact is growing as manufacturers focus on developing them.

Market Segmentation

Gypsum Boards The global Gypsum Boards market can be categorized into Product , Application , Region. The Gypsum Boards market can be categorized into Wallboard, Ceiling board, Movable Partition, Tile Base, Others based on Product . The Gypsum Boards market can be categorized into Residential, Industrial Manufacturing, Others based on Application . The Gypsum Boards market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Product

Wallboard holds the largest share

The Gypsum Boards market is dominated by wallboard because it is widely used in residential and commercial buildings, prefabricated structures, and renovation projects. This affordable building material offers various benefits such as fire resistance, sound insulation, moisture resistance, easy installation, and affordability. It comes in different sizes, thicknesses, and finishes to meet different project requirements. The market will also be driven by the growth of prefabricated construction, known for its efficiency and cost-effectiveness.

Based on Application

Residential will dominate the market during Forecast Period

The Gypsum Boards market is anticipated to be dominated by the residential application segment. Gypsum boards are widely used in residential construction for walls, ceilings, and partitions due to their advantages over traditional materials, such as fire resistance, sound insulation, moisture resistance, easy installation, and cost-effectiveness. The increasing popularity of prefabricated construction also contributes to the demand for gypsum boards in residential applications, as they are lightweight, easy to install, and fire-resistant.

Based on Region

Asia pacific will lead the market

The Asia Pacific region is set to dominate the Gypsum Boards market in the coming years because this region includes fast-growing economies like China, India, and Indonesia, which are experiencing rapid urbanization and increasing incomes. As a result, there is a strong demand for residential and commercial construction, leading to a need for gypsum boards. Furthermore, the Asia Pacific region is witnessing substantial investments in infrastructure and real estate projects by the government, creating new opportunities for the gypsum board market. This demand is expected to continue, solidifying the region's position as the largest and fastest-growing market for gypsum boards globally.

Competitive Landscape

The global Gypsum Boards market is fragmented, including a diverse array of the presence of several key players continue to command significant market shares. These major companies primarily focus on strategic initiatives like product development, mergers and acquisitions, and partnerships to gain a competitive advantage. They continuously work towards introducing innovative gypsum board products that meet evolving customer needs, including those with enhanced sustainability features and high-performance attributes.

The players in the global Gypsum Boards market include Georgia-Pacific Gypsum LLC, Yeso De La Cuenca Del Pacifico, American Gypsum, Taishan Gypsum Co. Ltd., Panel Rey, Knauf, Saint-Gobain, Yoshino Gypsum Co. Ltd., Abastecedora Maximo SA De CV, USG Mexico, AFB Mining Construction, National Gypsum Company, Gypsemna, Baier Group Gypsum Decorative Building Materials Department, United Mining Industries, Arcat Inc. among others.

Recent Market Developments

• 2023: Etex's acquisition of Superglass was successfully concluded in signaling the company's increased market footprint in the UK and its enhanced standing in the European insulation market. This strategic move emphasizes Etex's commitment to supplying cutting-edge and eco-friendly construction materials, such as gypsum boards.
• 2022: National Gypsum recently introduced DEXcell FA VSH, a glass mat roof board designed for buildings located in regions susceptible to extensive hail damage. This board features a fortified gypsum panel and an advanced moisture-resistant gypsum core.

Segmentation of the Global Gypsum Boards Market