The gypsum board market size is predicted to grow with a CAGR of 11.6% by 2028.
Gypsum Board Market Overview
The gypsum board market size is predicted to grow with a CAGR of 11.8% by 2028. The rising consumer expenditure on innovative construction materials is a major growth driving factor in the global gypsum boards market. Also, the increasing demand from the business construction and residential sectors is estimated to enhance the global gypsum board market growth during the forecast period. Moreover, the global market is expanding due to the rising mounting variety of novel uses in the building sector or gypsum board sector. Further, the worldwide market has lucrative opportunities due to the rising population and refugee issues in many countries, resulting in growing construction activities in developing countries. However, the global market growth might experience restraints due to the increasing temperature that generates difficulties in the areas of the installation process as well as extreme exposure to moisture.
As per the global gypsum board market analysis, the current market has been segregated based on type, product, and application. The application segment has been segregated into commercial, residential, institutional, and others. Based on the type segment, the global market for gypsum boards has been classified into type X, standard, and others. The product segment has been categorised into wallboard, pre-decorated, ceiling, and others.
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 –
In Feb 2022
Andhra Pradesh state government in India is currently banking on the memorandum outcome of understanding struck throughout the Dubai Expo. This memorandum of understanding has been signed by different industries like ports, automobiles, renewable energy, food processing, health care, and other sectors as per the ministry of industry. At this time, MoUs have been signed with five large corporations.
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|
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.