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Global gypsum board market to reach US$103.56B by 2030, after growing at 9.4% CAGR from US$50.47B in 2022; Asia-Pacific region accounts for 40% of global demand, while growth is driven in North America, Europe for sustainable, energy-efficient buildings

September 5, 2024 (press release) –

The construction industry has always been a dynamic sector, influenced by evolving architectural styles, advancements in materials, and changing regulations. Among the key materials shaping the future of construction is gypsum board, also known as drywall or plasterboard. This versatile material has seen significant growth in recent years, driven by increasing demand for cost-effective and durable building solutions. This article delves into the gypsum board market, exploring its current state, market size, share, growth trends, and projected demand leading up to 2030.

Gypsum board is a crucial component in modern construction, primarily used for wall and ceiling applications. It is composed of a gypsum core sandwiched between two layers of paper. The product's popularity stems from its fire resistance, sound insulation properties, and ease of installation. Over the years, gypsum board has become the preferred choice for builders and contractors, replacing traditional plaster due to its cost-effectiveness and efficiency. As urbanization and infrastructure development continue to accelerate globally, the gypsum board market is poised for substantial growth.

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Market Size

Data Bridge Market Research analyses that the global gypsum board market which was USD 50.47 billion in 2022, is expected to reach USD 103.56 billion by 2030, and is expected to undergo a CAGR of 9.4% during the forecast period of 2023 to 2030. "Wallboard" dominates the product segment of the global gypsum board market due to the sheer volume of construction projects requiring interior wall surfaces. The demand is driven by residential housing, commercial office spaces, and retail outlets In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

The Asia-Pacific region, led by China and India, holds the largest share of the gypsum board market, accounting for over 40% of global demand. The rapid pace of urbanization, coupled with government initiatives to develop affordable housing, has fueled the growth of the market in this region. North America and Europe are also significant contributors, with a strong demand for sustainable and energy-efficient building materials driving market expansion.

Market Share

In terms of market share, several key players dominate the global gypsum board industry. Companies like Saint-Gobain, Knauf, USG Corporation, and Etex Group have established themselves as leaders in the market, leveraging their extensive product portfolios and strong distribution networks. These companies collectively account for a substantial portion of the market, with Saint-Gobain and Knauf leading the pack.

Saint-Gobain, with its Gyproc brand, is a major player in the gypsum board market, particularly in Europe and Asia-Pacific. The company has a strong presence in emerging markets, where it continues to expand its production capacity to meet growing demand. Knauf, another industry giant, has a significant market share in Europe and North America, known for its innovative products and sustainable building solutions.

USG Corporation, now a part of Knauf after the acquisition in 2019, has a strong presence in North America. The company is known for its Sheetrock brand, which has become synonymous with gypsum board in the region. Etex Group, a Belgium-based company, also holds a significant share of the market, particularly in Europe and Latin America. The company focuses on lightweight construction materials, with gypsum board being a key product in its portfolio.

Market Growth

The gypsum board market is projected to grow at a compound annual growth rate (CAGR) of 6-7% from 2023 to 2030. Several factors are driving this growth, including the increasing demand for energy-efficient buildings, the rise in residential construction, and the growing popularity of modular construction methods.

One of the primary drivers of market growth is the push for sustainable construction practices. As governments and regulatory bodies worldwide implement stricter building codes and environmental standards, the demand for eco-friendly materials like gypsum board is on the rise. Gypsum board is a recyclable material, and its production process has a lower environmental impact compared to other building materials, making it an attractive option for sustainable construction.

Additionally, the rise in residential construction, particularly in developing countries, is boosting the demand for gypsum board. As urban populations continue to grow, the need for affordable housing is increasing, leading to a surge in residential construction projects. Gypsum board is favored in these projects due to its cost-effectiveness and ease of installation.

Modular construction is another trend contributing to the growth of the gypsum board market. This method involves the prefabrication of building components, which are then assembled on-site. Gypsum board is widely used in modular construction due to its lightweight properties, which make it easy to transport and install. As modular construction gains popularity, especially in regions with high labor costs, the demand for gypsum board is expected to increase.

Market Trends

Several trends are shaping the gypsum board market, influencing the way manufacturers and builders approach the material. One of the most significant trends is the increasing demand for fire-resistant and moisture-resistant gypsum boards. These products are designed to enhance the safety and durability of buildings, particularly in regions prone to extreme weather conditions.

Fire-resistant gypsum boards are gaining traction in commercial construction, where building codes often require materials that can withstand high temperatures and prevent the spread of fire. Similarly, moisture-resistant gypsum boards are becoming popular in areas with high humidity levels, as they prevent mold and mildew growth, ensuring the longevity of the building.

Another trend in the market is the growing focus on lightweight gypsum boards. These products are designed to reduce the overall weight of the building structure, making them ideal for high-rise buildings and other large-scale projects. Lightweight gypsum boards also offer improved ease of handling and installation, further driving their adoption in the construction industry.

Technological advancements are also playing a crucial role in the gypsum board market. Manufacturers are increasingly investing in research and development to create innovative products that meet the evolving needs of the construction industry. For example, smart gypsum boards equipped with sensors and other technologies are being developed to monitor building conditions in real-time. These advancements are expected to open up new opportunities in the market, particularly in the commercial and industrial construction sectors.

Market Demand 2030

Looking ahead to 2030, the demand for gypsum board is expected to continue its upward trajectory, driven by several key factors. The global construction industry is set to expand significantly over the next decade, with infrastructure development and urbanization being major drivers of growth. As a result, the demand for building materials like gypsum board is expected to rise steadily.

Sustainable construction practices will also play a crucial role in shaping the future demand for gypsum board. As more countries commit to reducing their carbon footprint and achieving net-zero emissions, the demand for eco-friendly building materials will increase. Gypsum board, with its recyclable properties and low environmental impact, is well-positioned to benefit from this trend.

The rise in residential construction, particularly in developing regions, will be another major driver of demand. As urban populations grow and the need for affordable housing increases, the demand for gypsum board in residential construction projects is expected to rise. Additionally, the increasing adoption of modular construction methods will further boost demand, as gypsum board is a key material in these projects.

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In conclusion, the gypsum board market is poised for significant growth in the coming years, driven by the expanding construction industry, the push for sustainable building practices, and the rise in residential and modular construction. As we approach 2030, the market will continue to evolve, with new trends and innovations shaping the future of this essential building material.

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