ID: MRFR/CO/3842-HCR | 100 Pages | Published By Harshita Gorade on March 2023
Drywall & Gypsum Board Market is projected to be worth USD 45.09 billion by 2030, registering a CAGR of 5.95% during the forecast period (2022-2030).
Drywall & Gypsum Board Market is projected to be worth USD 45.09 billion by 2030, registering a CAGR of 5.95% during the forecast period (2022-2030). Geographically, the global drywall & gypsum board market value will increase in the period as it has been divided into four major regions of North America, Europe, Asia Pacific, and the rest of the World. The Asian Pacific region has accounted for the largest market share, during the historic forecast period in 2020, followed by others like Europe and North America. The rapidly growing degree of construction activities in the region drives the demand of the market.
The drywall & gypsum board market value has been one of those that have been severely impacted owing to the sudden outbreak of the novel coronavirus pandemic in the international market scenario. The global market scale has been witnessing a constant emergence of market issues and restraints like the imposition of permanent and temporary lockdown imposed followed by the reduced availability of resources and skilled labor that might hamper the market growth as per the predictions that have been laid down for the market during the forecast period that followed the pandemic year of 2020. There has been a huge rise in the dire market need for the market players to return to normalcy. However, there is a severe backlash in the form of the rising rate at which the novel coronavirus is being spread is alarmingly high and should be considered at all costs.
The global governments and key market players are collaborating on an international scale to help the market grow and expand as per the predictions that have been formulated for the forecast period. Hence, the drywall and gypsum board market trends are giving rise to global market investment and funding that will help expand the product portfolio and cover the losses that have been incurred by the market trends during the outbreak of the pandemic in 2020.
The drywall & gypsum board market value is projected to rise to the predicted revenue for the ongoing forecast period that will be ending in 2028 owing to the recent developments that have been undertaken and the developments like mergers and acquisitions of the period. The competitive players in the global market are as follows:
USG Zawawi Drywall LLC SFZ (Oman)
Gyptec Iberica (Portugal)
Knauf Middle East (Dubai)
Supress Products, LLC (U.S.)
Kingspan Group plc. (Ireland)
Gulf Gypsum Co. (Qatar)
Yoshino Gypsum Co., Ltd. (Japan.)
National Gypsum Co. (U.S.)
Taishan Gypsum Co. (China)
Saint - Gobain Gyproc India Ltd (India)
Etex Group (Belgium)
Lafarge Group (France)
Global Drywall & Gypsum Board Market Segmentation:
The drywall & gypsum board industry is witnessing the emergence of valid and reliable market factors that will present the market with excellent opportunities for growth and expansion during the ongoing forecast period. The fastest growth in the construction industry followed by a huge degree of increase in the prevailing popularity of such systems is likely to help the market propel in the international market scenario. Also, there has been a reduction in the proportion of down payment for second house loans as there has been a substantial increase in the disposable income of people. Also, the fact regarding the exemption of sales tax for ordinary housing is helpful for the market to grow and function at an excellent market scale.
However, there has been a huge decline in the demand for the drywall and gypsum board market share during the forecast period of 2022-2030 which is likely to hamper the global market from growing during the period. The market is witnessing a reduced demand because of the disruption in the supply chain mechanism of the market followed by the unavailability of skilled labor, resources, and investments that might further, deteriorate the market from growing as per its true potential.
The global drywall & gypsum board market value is rising as it has been characterized by the presence of several well-established and small players, the global market for drywall &gypsum board appears to be highly competitive. Well-established players, as a prominent part of the market, incorporate acquisition, collaboration, partnership, expansion, &other steps like product launches to gain a competitive advantage in this market, &hence, to maintain their market position. These key players compete as the drywall &gypsum board market value progress based upon pricing, &services. The global market vendors that are operating in the market strive to deliver the best quality products &services based on innovative technologies, and best practices. These key market players make a substantial investment for the research &development departments &further, to secure a guaranteed resource for the customers.
The global market segments help meet the rising needs of the global audience followed by the rising ability of the market segments to expand the market and reach the revenue that has been predicted by the market leaders, business chiefs, and industry experts. The global drywall & gypsum board market share has been segmented based on a series of inclusions like products, end-users, and regions.
The market has been segmented based on the market products and includes wallboard, ceiling board, pre-decorated board, &many others.
The global drywall & gypsum board market has been segmented based on the market end-users and includes the residential &non-residential segments.
Economic growth in the APAC region has allowed for a greater requirement of institutional and commercial infrastructure spaces. This fuels the growth of the regional market. The key market players across the globe are gradually shifting their production facilities to cater to high potential markets in the Asian Pacific region, mainly due to the availability of low-cost labor and ample raw material stocks. This has a positive impact on the global growth of the market during the period. China is emerging as one of the leading markets in the Asia Pacific region. The Chinese Government had issued several favorable policies for the reduction of the proportion of down payment for second house loans and exempting of sales tax for ordinary housing. This helped the recovery of the commercial housing market. This will further, influence the growth of the market, positively during the forecast period.
Among the market segment of products, Wallboard is likely to account for the largest market share during the historic forecast period that had ended in 2019 &is expected to remain dominant over the forecast period of 2022-2030, mainly due to the growing application of wallboard in the construction of shops, offices, &malls, with its usage as wall partition system. The market includes the ceiling board segment that is expected to contribute, significantly, during the forecast period of 2022-2030, mainly due to increased dem&from residential, &non-residential construction sectors.
The residential segment of the global market dominates the application segment of the market, &is further, expected to grow at the highest CAGR during the forecast period that will be ending in 2030. There has been a rise in the global dem&for drywall &gypsum board market share across the residential segment. Also, the market is attributed to changing consumer lifestyles followed by the increased consumer disposable income.
There has been a rise in home improvement &renovation projects as a part of the drywall & gypsum board market size. This also fuels the dem&of the market in residential applications that is likely to gain momentum during the forecast period that ends in 2030. The market trends suggest that the non-residential sector is projected to be rising &contributing significantly during the forecast period of 2022-2030 mainly due to an increase in dem&from hospitality, followed by others like corporate offices, &education especially during the ongoing forecast period that ends in 2030.
The report for Global Drywall and Gypsum Board industry comprises extensive primary market research along with the detailed market analysis of both the qualitative as well as quantitative market aspects by various industry experts, and key opinion leaders to gain a deeper insight into the market &industry performance. The global market report gives a clear picture of the current market scenario which is inclusive of the historical &projected market size in terms of value and volume, technological advancement, followed by other prominent factors like the macroeconomic and governing factors in the drywall & gypsum board market. The global market report provides detailed information and strategies of the top key players in the market industry. The market report also gives a broad study of the different market segments & regions followed by their functioning.
|Market Size||2030: USD 45.09 billion|
|CAGR||5.95% CAGR (2022 to 2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||by Technology, by Application, by Material|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||USG Zawawi Drywall LLC SFZ (Oman), Knauf Middle East (Dubai), Gypsemna Co. LLC (Dubai), Global Mining Co. LLC (Oman), Gulf Gypsum Co. (Qatar), National Gypsum Co. (U.S.), Etex Group (Belgium), Lafarge Group (France), Saint - Gobain Gyproc India Ltd (India), Taishan Gypsum Co. (China), Yoshino Gypsum Co., Ltd. (Japan.)., Kingspan Group plc. (Ireland), Winstone Wallboards Limited (New Zealand), Supress Products, LLC (U.S.), and Gyptec Iberica (Portugal)|
|Key Market Opportunities||· Fastest growth in construction industry · Increased popularity of such systems|
|Key Market Drivers||· Lowering the proportion of down payment for second house loans · Exempting of sales tax for ordinary housing|
The global drywall and gypsum board market is projected to grow at approximately 5.95% CAGR during the assessment period (2022-2030).
On the basis of product, wallboard and on the basis of end-user, residential segment holds majority shares in the global drywall and gypsum board market.
Governments’ efforts to developing the construction sector and various reforms & regulations to boost the infrastructure growth and real-estate market are major tailwinds pushing the growth of the global drywall and gypsum board market.
Asia Pacific holds the largest share in the global drywall and gypsum board market, followed by North America and Europe, respectively.
Knauf Middle East (Dubai), USG Zawawi Drywall LLC SFZ (Oman), Gypsemna Co. LLC (Dubai), Gulf Gypsum Co. (Qatar), Global Mining Co. LLC (Oman), National Gypsum Co. (U.S.), Lafarge Group (France), Etex Group (Belgium), Saint - Gobain Gyproc India Ltd (India), Yoshino Gypsum Co., Ltd. (Japan.), Taishan Gypsum Co. (China), Kingspan Group plc. (Ireland), Supress Products, LLC (U.S.), Winstone Wallboards Limited (New Zealand), and Gyptec Iberica (Portugal), are some of the top players operating in the global drywall and gypsum board market.