ID: MRFR/CO/0865-HCR | February 2021 | Region: Global | 110 pages
The gypsum board market size is predicted to grow with a CAGR of 11.8% by 2028. The global gypsum board market is expected to develop due to rising demand from the residential and business construction sectors and rising consumer expenditure on innovative construction materials. The mounting variety of novel uses in the gypsum board, or building sector is expected to drive up market demand. Product demand is likely to be driven by rising demand from the housing construction sector and surging spending on modern construction materials as the burgeoning construction industry in key nations is likely to fuel market expansion. Furthermore, as the spectrum of new applications in the construction sector expands, product demand is expected to rise.
The product's ability to offer innovative shapes and textures on its surface is expected to expand its penetration in high-end construction due to the increasing trend of producing aesthetic modifications in building structures. Price fluctuations in raw materials and strict laws governing gypsum mining, on the other hand, may hamper business growth. Leading market competitors focus on increasing their manufacturing capacity and delivering enhanced, more durable items. Consumers may expect robust housing models from companies that service gypsum boards as long as they follow the necessary building norms and regulations.
Gypsum board is one of the major industries that bear the maximum losses due to the global pandemic covid 19. The use of gypsum board as covering materials for interiors ceilings and walls in commercial and residential buildings has been highly interrupted due to covid 19. The gypsum board also uses as a tile backer in few wetting areas including basement walls, kitchens, bathrooms, laundry, utility rooms, and water closets. The ban of interstate travel, regulations of lockdown, and safety measures in many developing countries have halted the construction projects and impacted the gypsum board industry outlook. Overall covid 19 has negatively impacted the global market.
The leading players of the global gypsum board industry are focused on introducing advanced products and they are also focusing on increasing their capacity of production with improved strength and durability. Furthermost, the players are willing to invest in R&D in order to develop specific products for better quality decorative applications with the addition of textures and designs. These major factors are expected to support the growth of the global gypsum board market during the forecast period.
Major Key Players
The rising construction industry and increasing demand for multi-family and single-family house construction in developing countries are predicted to augment the demand for the gypsum board market value over the forecast period. The rising trends of making innovations and improvements in the structures of buildings due to the capacity of the products to offer innovative texture and designs on the surface is likely to increase the demand for the high-end applications of construction which can also be considered as a major factor for the growth of the global gypsum board market.
Gypsum boards are highly used in houses for constructing walls, exteriors sheathing, ceiling, membranes, and dire resistance partitions. Single-layer is popular in constructing residential sector. The involvement of low cost and lesser construction time is increasing the demand for these boards in the residential sector. This sector is likely to have more opportunities in near future due to rising construction activities in the developing countries owing to refugee issues and increasing population in several countries.
There are a few obstacles and barriers in the growth of the global gypsum board market such as extreme exposure of moisture and rising temperature creates difficulties in the installation process of areas including kitchens and bathrooms because of deterioration of products.
The fluctuation in the cost of raw materials due to increased import tariffs is the major challenge faced by the key players of the global gypsum board market.
Cumulative Growth Analysis
The global gypsum board market trends have witnessed phenomenal growth in the past few years and it has been predicted that the global market would witness significant growth during the forecast period. The major factor that is attributing to the growth of the market is the development in a constructional field where the demand for gypsum board has gathered the attention of growing market for application segment around the world. In the modern world, the construction business is at its peak point and it has created a good amount of growth opportunities in the global market. Emerging countries are likely to increase the spending of the government on a particular infrastructure. Furthermost, the increasing residential sector, benefits of gypsum board, rapid urbanization are other major key driving factors of the global gypsum board market outlook. Asia Pacific region is predicted to lead the global market followed by Europe and North America.
Value Chain Analysis
According to the latest report, the global gypsum board market is segmented on the basis of type, application, product, and region. Based on type, the global market is segmented into gypsum board and type X gypsum board. The gypsum board is expected to hold the largest global market share. On the basis of application, the global market is further distributed into residential, commercial, institutional, and others. The residential segment is expected to hold the majority of the share. On the basis of products, the global market is segmented into gypsum wallboard and gypsum ceiling board.
The market is segmented on the basis of the type, application, product, and region. The global gypsum board market is expected to witness decent growth during the forecast period.
The market is segmented into residential, commercial, institutional, and others based on the application.
The market is segmented into lifting gypsum board and type X gypsum board and others based on the propulsion types.
According to the report, on the basis of region, the global gypsum board industry is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The North America region is expected to hold the maximum market share, it is estimated to hold more than 97% of the infrastructures constructed in the United States by using gypsum boards. The rising trends of multi-family building and the rising numbers of migration from the towns to the city are other major factors that is driving the growth of the global gypsum board market revenue. The US census bureau is likely to provide more permission for the construction of several new residential buildings.
The following report comprises of –
Feb 2022 The state government of Andhra Pradesh in India is banking on the outcome of the memorandums of understanding struck during the Dubai Expo. According to the minister of industry, automobiles, food processing, renewable energy, health care, ports, and other sectors have signed memorandums of understanding. He also stated that the state had signed MoUs with five large corporations. Furthermore, they have advanced conversations with significant corporations to formalize their investment interests in areas such as gypsum board building materials valued at 600 crores and 300 jobs, to name a few.
The market is segmented on the basis of type into:
The market is categorized in terms of product into:
The market is divided on the basis of end-use into:
Global Market, By Region:
Middle East & Africa
|Market Size||2030: Significant Value|
|CAGR||Substantial CAGR (2022-2030)|
|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||Type, Applications, Product|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||American Gypsum, Certainteed, Georgia-Pacific, National Gypsum, Pabco Gypsum, Knauf Dubai, Etex Group, Gulf Gypsum, Taishan Gypsum, Lafarge and others|
|Key Market Opportunities||
|Key Market Drivers||Hike in construction-related activities|
Frequently Asked Questions (FAQ) :
The hike in construction-related activities would boost the gypsum board market.
The gypsum board market would be led by the APAC region.
The market report has types like regular gypsum board and type x gypsum board.
The applications are residential, institutional, commercial, and others.
The product-wise segmentation leads to a gypsum wallboard, and gypsum ceiling board.
The Asia pacific region would lead the gypsum board market.