Plasterboard Market

The global Plasterboard Market is valued at USD 24.63 Billion in 2022 and is projected to reach a value of USD 37.96 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.56% between 2023 and 2030.

Premium Insights

The growth of the Plasterboard market is driven by various factors including the thriving global construction industry, which creates a need for plasterboard as a versatile building material in residential, commercial, and industrial projects. The demand for specialized plasterboards, such as fire-resistant and eco-friendly variants, is also increasing due to strict building regulations and a focus on safety and sustainability. Technological advancements in plasterboard manufacturing, such as improved production processes and characteristics like enhanced acoustic performance and moisture resistance, contribute to market expansion.

• The demand for plasterboard is further fueled by the rising popularity of interior renovations and remodeling projects
• Asia Pacific generated more than 36.5% of revenue share in 2022
• North America is expected to grow at the quickest rate from 2023 to 2030
• Fire-resistant segment accounted for the largest market growth in 2022
• Tapered-edged segment accounts for the most significant market share in 2022
• Residential segment led the market with largest market share in 2022

Economic Insights

The Plasterboard market economic environment is influenced by various factors including residential, commercial, and industrial construction activities, as well as urbanization and population growth, have a significant impact on the market. Economic stability and government investments in infrastructure projects also have a crucial role in shaping the market. Additionally, factors such as interest rates, raw material costs, and consumer confidence influence the market as they affect construction expenditures. The market also considers advancements in plasterboard technology and sustainable building practices, in line with a global focus on environmentally friendly construction materials.

Top Market Trends

• Green Building Practices: The demand for plasterboard with minimal environmental impact has grown due to the growing attention and emphasis on sustainability and eco-friendly construction practices. Manufacturers have been actively investigating and promoting plasterboard products that incorporate recycled materials and require less energy during the production process.
• Technological Advancements: Continuous advancements in plasterboard manufacturing technology resulted in the creation of products with improved attributes, including enhanced fire resistance, acoustic performance, and moisture resistance. The purpose of these technological breakthroughs was to cater to the ever-changing requirements of the construction sector.
• Rising Construction Activities: The demand for plasterboard in residential, commercial, and industrial construction projects is driven by the growth of the global construction industry and the increasing urbanization trend. In particular, emerging economies are experiencing substantial infrastructure development.
• E-commerce Growth: The distribution of construction materials, such as plasterboard, was becoming more convenient through online purchasing. E-commerce platforms were playing a larger role in this sector, providing a variety of products and making the procurement process easier.
• Smart Building Solutions: The market was showing increased interest in plasterboard that could accommodate smart home features, like built-in sensors and wiring conduits, as a growing trend of integrating smart technologies in buildings.

Market Segmentation

Plasterboard The global Plasterboard market can be categorized into Type, Form, End Use, Region. The Plasterboard market can be categorized into Standard, Fire-resistant, Sound-insulated, Moisture-resistant, Thermal, Impact-resistant, Specialist based on Type. The Plasterboard market can be categorized into Tapered-edged, Square-edged based on Form. The Plasterboard market can be categorized into Residential, Non-residential based on End Use. The Plasterboard market can be categorized into North America, Europe, Asia Pacific, Latin America, Middle East & Africa based on Region.

Based on Type

Fire-resistant holds the largest share

Fire-resistant plasterboard dominated the Plasterboard market, holding the largest share due to the strict safety regulations and a growing emphasis on fire protection in construction. This type of plasterboard is specifically designed to withstand and prevent the spread of fire, making it highly favored in residential, commercial, and industrial buildings. The increasing awareness of fire safety, along with the implementation of building codes and standards that prioritize fire resistance, has driven the demand for this type of plasterboard, solidifying its importance in the market.

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Based on Form

Tapered-edged accounts for largest market share

Tapered-edged dominates the Plasterboard market, accounting for the largest market share. The construction industry highly values apered-edged plasterboard because of how easy it is to install and the flawless end result it provides. The tapered edges make it simple to connect the boards seamlessly, resulting in a sleek and consistent surface once the project is completed. Builders and contractors prefer this type of plasterboard because it allows for the creation of smooth and even walls and ceilings, minimizing the need for extra finishing work. The widespread use of tapered-edged plasterboard in the market indicates that the industry prioritizes efficiency in terms of time and cost, as well as the desire for visually appealing interior surfaces.

Based on End Use

Residential led the market in 2022

Residential accounts for largest market share in 2022 because there is a strong momentum in construction and renovation projects for houses across the world. Plasterboard is highly preferred in residential construction for both interior walls and ceilings due to its flexible nature, affordability, and simple installation process. The increasing need for housing, along with the current trends in interior design and construction methods, have greatly added to the large market presence of plasterboard in residential undertakings.

Based on Region

Asia Pacific will lead the market

The Plasterboard market in Asia Pacific has the largest market share due to its strong construction industry, fast urbanization, and growing infrastructure development. Countries like China and India experiencing population growth and increased urbanization have created a significant demand for construction materials, including plasterboard. Furthermore, government support and investments in the construction sector have also played a role in the region's dominance in the plasterboard market.

Competitive Landscape

The Plasterboard market is highly competitive, with established industry leaders and new entrants contending for market share. Key players primarily revolve around product innovation, technological advancements, and mergers and acquisitions. This involves the development of plasterboard products that offer enhanced features such as improved fire resistance, acoustic performance, and sustainability. As the construction industry progresses and sustainable building practices become more prevalent, it is expected that key players in the plasterboard market will continue to adapt their strategies and make calculated moves.

The players in the global Plasterboard market include Armstrong World Industries Inc., Etex Group, Saint-Gobain S.A., Gypsum Management and Supply, Inc., USG Corporation, Georgia Pacific LLC, Boral Limited, KNAUF Gips KG, Fletcher Building Limited, LafargeHolcim Ltd., and National Gypsum Company are key players in the plasterboard market. among others.

Recent Market Developments

• 2022: CertainTeed Canada Inc., a subsidiary of Saint-Gobain, has announced its intention to invest CAD 91 million (USD 73 million) in the upgrade of its Montreal wallboard manufacturing facility. In addition, the government of Quebec has granted CAD 40 million (USD 32 million) through its EcoPerformance program. The aim of this investment is to significantly reduce carbon emissions by up to 44,000 metric tonnes annually, potentially making it the first zero-carbon drywall plant in North America.
• 2022: A joint venture agreement has been signed by Saint-Gobain and Dalsan, stating that their plaster and plasterboard businesses in Turkey will be merged. In 2022, Saint-Gobain Rigips and Dalsan Alci achieved sales worth over EUR 100 million (USD 117 million). Once the investment project at the new Turgutlu (Manisa) plant is completed in 2023, they will have the capacity to produce 100 million square meters of plasterboard, 2 million tonnes of plaster, and 50 million meters of metal profiles per year, positioning them as the market leaders.
• 2022: To enhance its range of sustainable products, Etex acquired URSA, an established leader in insulation solutions across Europe. By integrating insulation expertise into their existing offerings such as plasterboard, fiber-cement, passive fire protection, and modular products, Etex was able to provide a wider variety of systems and solutions.

Segmentation of the Global Plasterboard Market