Drywall and Gypsum Board Market Size was valued at USD 28.4 Billion in 2022. The Drywall and Gypsum Board industry is projected to grow from USD 30.08 Billion in 2023 to USD 47.78 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.95% during the forecast period (2024 - 2032). The increased inclination toward aesthetic building projects and growing construction activities are the key market drivers expediting the market's expansion.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for drywall and gypsum board is being driven by the rising construction activities. Due to its qualities including fire resistance, acoustic attenuation, and durability, gypsum board is a material that is frequently utilized in the building sector. It is primarily used as the surface layer of interior walls and ceilings, as a base for ceramic, plastic, and metal tiles, for exterior soffits, for elevator and other shaft enclosures, as area-separation walls between building units, and to protect structural elements from fire. It was developed through modern technology to meet specific requirements. When the foil surface is put against the framing, the aluminum foil backing on the majority of gypsum boards acts as an efficient vapor retarder for exterior walls.
Gypsum market growth is primarily being fueled by expanding home construction trends, rapid urban migration in key economies, higher government investment in residential real estate, and rising demand for upscale residential properties. In addition, rising real estate expenses, particularly in creating single-family homes and multistory apartments in emerging economies, are a major factor driving the gypsum industry. The market is growing as a result of the soaring demand for housing and the quickly growing urban population.
Gypsum board market growth in recent years has been fueled by technological advancements and the creation of inventive production procedures by key industry participants. Gypsum Sustainability Action Plan was developed by the Plasterboard Sustainability Partnership (PSP) to encourage the enhancement of the environmental performance of various gypsum board products over the course of their lifecycle. Thus, driving the Drywall and Gypsum Board market revenue.
The Drywall and Gypsum Board market segmentation, based on product includes Wallboard, Ceiling board, and Pre-decorated board. With a sizable share of the market, wallboard has become the top gypsum board product category. In the building business, wallboard is frequently used for a variety of interior purposes, including walls and partitions. Over the projected period, rising demand for environmentally friendly building in North America and Europe is anticipated to fuel product demand. Wallboard has also become popular as a quicker substitute for the older lath and plaster method.
The Drywall and Gypsum Board market segmentation, based on end-user, includes store residential, and non-residential. In the drywall and gypsum board market, the residential application segment dominated. Over the course of the forecast period, the rising demand for residential construction projects is anticipated to boost the worldwide gypsum board market. To fulfil the demand for housing, there has been a major undersupply globally. This provided a significant opportunity for investors and developers to adopt alternative construction techniques and form new alliances to advance development.
Figure 1: Drywall and Gypsum Board Market, by End-User, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Drywall and Gypsum Board market area will dominate this market, owing to an increase in the number of persons affected by cardiovascular devices and obesity. Short-term market growth is primarily being driven by expanding product demand for residential development along with rising repair activity across North America.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: DRYWALL AND GYPSUM BOARD MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Drywall and Gypsum Board market accounted for the second-biggest market share due to the increasing applications across end-use industries such as residential and commercial sectors. Further, the German Drywall and Gypsum Board market held the biggest market share, and the UK Drywall and Gypsum Board market was the fastest growing market in the European region
The Asia-Pacific Drywall and Gypsum Board Market is expected to grow at the quickest CAGR from 2023 to 2032. Gypsum boards are in high demand in the region's construction markets for residential and commercial projects. Moreover, China’s Drywall and Gypsum Board market held the largest market share, and the Indian Drywall and Gypsum Board market was the fastest growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Drywall board and Gypsum Board, grow even more. Market players are also adopting a variety of strategies to extend their presence, with important market developments including new product innovations, contracts & agreements, mergers &s acquisitions, higher investments, and collaboration with other similar organizations. To expand and survive in a more competitive and rising market climate, the Drywall and Gypsum Board industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Drywall and Gypsum Board industry to benefit clients and increase the market sector. In recent years, the Drywall and Gypsum Board industry has offered some of the most significant advantages to medicine. Major players in the Drywall and Gypsum Board market, including USG Zawawi Drywall LLC SFZ (Oman), Knauf Middle East (Dubai), Gypsemna Co. LLC (Dubai), 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.), Gyptec Iberica (Portugal), and others, are attempting to increase market demand by investing in research and development operations.
Compagnie de Saint-Gobain (Saint-Gobain) manufactures building materials and construction-related products. Its product line includes a range of plastics, pipelines and associated goods, building supplies, gypsum, industrial mortar, roofing, and exterior wall products. Additionally, the business sells performance polymers, glass textiles, and mineral ceramics. These products are marketed by the company under a number of names, including ADFORS, British Gypsum, Saint-Gobain Gla, and Isover. The automotive, aerospace, health, defense, energy, security, and food and beverage industries all use Saint-Gobain products. In October 2022, A circular economy effort has been started by Saint-Gobain North America in partnership with three New York partner companies through its building materials subsidiary business unit CertainTeed Gypsum. At its facility in Buchanan, New York, the company has started recovering leftover gypsum wallboard and utilizing the leftovers as raw materials for new products.
Gypsum-based systems, insulating materials, molded parts, packaging, construction tools, and chemicals for the building industry are all produced by Knauf on a scale. The business sells shield boards, floor screed, floor systems, gypsum plasters, tile backing boards, and other related goods. In April 2019, Nearly 17 months after first signaling its interest in doing so, Knauf purchased USG. According to Ken Long, manager of construction industry studies at the Freedonia Group, "The deal had a long gestation period, but the end result is a company that will be a plasterboard industry giant."
October 2022: In Huedin, Cluj County, USGKnauf announced plans to build a new gypsum wallboard mill. By funding an initiative to renovate the nation's housing stock, the investment is anticipated to progress the Romanian government's 'energy savings offensive'.
July 2022: With projected net sales of EUR 80 million (USD 93 million) in 2022, Cantillana is a top provider of speciality building solutions with headquarters in Belgium. Cantillana was acquired by Holcim. The position of Holcim in building refurbishment and energy-efficient solutions may be strengthened by this acquisition.
February 2022: The three largest plasterboard manufacturers in Australia were finally acquired by Etex. With the achievement of this strategic goal, Etex is now better positioned to grow its presence in the nation's mature construction sector. In 2021, Etex's recently acquired plasterboard business in Australia contributed EUR 124 (USD 144.74) million in revenue.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 28.4 Billion |
| Market Size 2023 | USD 30.08 Billion |
| Market Size 2032 | USD 47.78 Billion |
| Compound Annual Growth Rate (CAGR) | 5.95% (2024-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2024-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Product, End-User, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | USG Zawawi Drywall LLC SFZ (Oman), Knauf Middle East (Dubai), Gypsemna Co. LLC (Dubai), Mining Co. LLC (Oman), Gulf Gypsum Co. (Qatar), National Gypsum Co. (U.S.), Etex Group (Belgium), Lafarge Group (France) |
| Key Market Opportunities | Growing inclination towards aesthetic buildings and interiors |
| Key Market Dynamics | Increase in construction activities |
Drywall and Gypsum Board Market Highlights:
Frequently Asked Questions (FAQ) :
The Drywall and Gypsum Board market size was valued at USD 28.4 Billion in 2022.
The Drywall and Gypsum Board Market is projected to grow at a CAGR of 5.95% during the forecast period, 2024-2032.
North America had the largest share in the Drywall and Gypsum Board Market.
The key players in the Drywall and Gypsum Board Market are USG Zawawi Drywall LLC SFZ (Oman), Knauf Middle East (Dubai), Gypsemna Co. LLC (Dubai), Mining Co. LLC (Oman), Gulf Gypsum Co. (Qatar), National Gypsum Co. (U.S.), Etex Group (Belgium), Lafarge Group (France)
The beverage category dominated the Drywall and Gypsum Board Market in 2022.
The store based had the largest share in the Drywall and Gypsum Board Market.
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Research Analyst Harshita post graduate mba in business administration from welingkar institute, mumbai and 5 years of experience in the field of product market research. as a research analyst, i have cross-domain experience in packaging, and industrial automation & equipment. i am currently looking after the research process of packaging, logistics & transportation, and industrial automation & equipment at market research future reports. my responsibilities at the organization involve handling syndicate and custom reports as well as responding to client inquiries, and organize, co-ordinate with a group of 5 to 6 persons to manage all workflows.
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