Gypsum Board Market Size

Gypsum Board Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The gypsum board market is expected to reach a total value of $ 62,233,800,000 in 2024 and $127,304,000,000 in 2032. This represents a robust CAGR of 9.36% over the forecast period. The main reasons for this growth are the increasing demand for lightweight building materials and the growing trend towards sustainable building practices. Gypsum boards are favored for their fire resistance, ease of installation and low cost, which makes them a popular choice for both residential and commercial construction. The gypsum board market is also bolstered by rising urbanization rates, population growth and growing government spending on infrastructure development. The introduction of new products, such as moisture- and sound-resistant gypsum boards, is also driving the market. Strategic initiatives by major industry players such as Saint-Gobain, USG and Knauf aim to strengthen their market position and cater to the changing needs of consumers. These factors point to a promising future for the gypsum board market.

Regional Market Size

Regional Deep Dive

The gypsum market is growing strongly in various regions of the world, driven by increasing construction activity, urbanization, and a growing focus on sustainable building materials. In North America, the market is characterized by a strong demand for lightweight and fire-resistant building materials, while in Europe the focus is on eco-friendly innovations and regulatory compliance. In Asia-Pacific, rapid urbanization and the building boom in the region are driving demand for gypsum board. The Middle East and Africa region is also characterized by ongoing construction projects and government initiatives to improve the quality of housing and commercial premises. Latin America is also a major market, with its growth driven by the recovery in the economy and investment in infrastructure.

North America

• The American Gypsum Association has recently adopted new standards for fire-resistant gypsum boards, which will enhance building safety and influence product development.
• USG and National Gypsum are putting considerable effort into new production methods that make it possible to manufacture eco-friendly gypsum products that are in line with the trend towards sustainable development.
• The recent U.S. investment in construction will increase demand for gypsum board in the residential and commercial building sector.

Europe

• The European Green Deal aims to promote sustainable building practices, and the demand for recycled and sustainable gypsum products has risen accordingly.
• Several gypsum companies such as Knauf and Saint-Gobain are introducing new solutions to meet the stricter energy regulations.
• In Germany and Great Britain, the construction of prefabricated houses is causing the demand for lightweight and easily installed gypsum products to rise.

Asia-Pacific

• The construction of the “Belt and Road” will greatly promote the construction of roads and railways, which will greatly increase the demand for gypsum plasterboard in building projects.
• The growing Indian middle class and urbanization are driving residential construction. And companies such as Gyproc India are supplying products that meet local needs.
• In the Australian building industry, changes in legislation that promote the use of sustainable building materials have made gypsum boards a popular choice in the residential and commercial sectors.

MEA

• The United Arab Emirates’ Vision 2021, which aims to develop housing and public services, will lead to an increase in construction investment, which in turn will boost demand for gypsum board.
• The National Industrial Development and Logistics Program, which is part of the Ministry of Industry, Trade and Supply, has taken steps to encourage the manufacture of plasterboard in the country, thus reducing its reliance on imports.
• The construction boom in Qatar, driven by the preparations for the World Cup in 2022, has a strong impact on the gypsum board market in the Middle East.

Latin America

• Brazil's economic recovery is resulting in increased investment in infrastructure, which is expected to boost demand for gypsum board in construction.
• The Mexican government is promoting the use of gypsum as a preferred material for the construction of houses.
• Colombia’s urban development plans offer opportunities for manufacturers of gypsum to expand their market share.

Did You Know?

“Gypsum boards help to improve the air quality in buildings by absorbing and releasing moisture. This also helps to regulate the humidity in the building.” — Gypsum Association

Segmental Market Size

The gypsum-plasterboard market is growing steadily, mainly because of the rising demand for lightweight building materials in residential and commercial construction. The emergence of green building and the stricter fire regulations, which benefit from the fire-retardant properties of gypsum-plasterboard, are also driving the market. And finally, the urbanization and the development of the building industry in emerging economies are also contributing to the growth.

In the market, gypsum products have reached a fairly mature stage. The leading manufacturers, such as the USG Corp. and Saint-Gobain, are constantly introducing new products. Interior wall and ceiling systems are the most important applications of gypsum products, which are preferred for their ease of installation and finishing. Moreover, the demand for eco-friendly construction materials and the growing importance of energy-efficient buildings are driving growth. Also, the introduction of smart materials and new manufacturing processes will further improve performance and sustainability.

Future Outlook

Gypsum board is a board made of plaster, which has a number of uses in the building of houses, in the laying of the floors, and in the making of ceilings. It is used for the walls, and the ceilings, and the partitions, and is also used in the construction of ships. Its use is growing as the population increases, and as the need for residential and commercial space increases.

Several technological developments and policy initiatives are expected to shape the future of the gypsum board market. The development of fire-resistant and eco-friendly gypsum boards is expected to cater to the growing demand for sustainable building materials. Government regulations on energy-efficient construction are also expected to boost the gypsum board market. As gypsum boards help in reducing energy consumption, they are expected to increase in demand. Meanwhile, the integration of smart building materials into the gypsum board market is also expected to create new opportunities for market players.