Global Gypsum Board Market By Product Type (Ceiling Board, Wallboard, and Pre-Decorated Board), By Application (Institutional, Pre-engineered Buildings, Industrial, and Residential, Commercial), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Gypsum Board Market Overview

The global gypsum board market was worth USD 41,251 million in 2021. It is projected to rise at a CAGR of 11.58% between 2023 to 2032. The product demand is expected to grow due to rising demand from residential construction and increasing consumer spending on high-quality construction materials. Market growth is expected to be supported by the rapidly expanding construction industry in major economies like China, India, and Brazil. The increasing number of innovative applications in construction will likely boost product demand.

Global Gypsum Board Market Scope:

Product Type Analysis

Wallboards dominated the product market in 2021. They accounted for more than half of the total market. This is due to wallboards’ widespread acceptance as an alternative to plaster and lath. The forecast years will see a rise in demand for sustainable construction. It is also likely that the product will be more widely used in high-end construction applications due to its continuous innovation.

Gypsum ceiling boards are replacing traditional counterparts like plaster ceilings and interior walls. Ceiling boards are a great way to improve thermal and sound insulation. They also have a low cost and high core strength. Ceiling boards will be in high demand as a result of increasing commercial construction projects around the world. Pre-decorated boards will experience the fastest CAGR between 2023 to 2032. This is due to the widespread use of these products in construction projects. These boards are popular in commercial applications because they allow for flexible workspace configurations and maximum color retention. Other gypsum products, such as plaster base, sheathing, and lath, are also gaining popularity on the market. Plaster-based panels are made from a special gypsum base and multi-layered laminated paper face. This provides a fast installation, sag resistance, and water absorption control.

Application Analysis

Residential applications accounted for 48.2% of the total revenue in 2021. It is expected to grow at the fastest CAGR between 2023 to 2032. The segment is expected to grow due to the growing urban population and the increasing demand for architecturally improved materials.

The rising number of major economies such as China, India, and Brazil constructing new buildings is expected to increase the demand for this product segment. The market is growing because of the increasing number of commercial construction projects worldwide.

Pre-engineered Buildings (PEBs), used for roofing and other external wall applications, are a common use of Gypsum. Gypsum is used frequently in industrial structures because it allows for easy fitting windows and doors while providing security. Pre-engineered buildings can be lightweight and economical. PEBs are preferred over steel because of their design flexibility and ease of use. The most widely used gypsum product for institutional use is laminated gypsum wallboards. This includes the base layer stapled to the wall and the second laminated layer. Due to the increasing number of school construction projects, institutional construction is expected to increase demand rapidly.

Кеу Маrkеt Ѕеgmеntѕ

By Product Type

• Ceiling Board
• Wallboard
• Pre-decorated Board
• Other Products

By Application

• Institutional
• Pre-engineered Buildings
• Industrial
• Residential
• Commercial

Market Dynamics:

Over the forecast period, the demand for products is expected to rise due to the growing construction industry and rising demand for single- and multi-family home constructions. Due to their innovative designs and textures, high-end construction applications will likely see a rise in aesthetic improvements to building structures. Wallboards and ceiling boards can be used to improve the interior of commercial and residential buildings. Market growth is expected to be supported by urban migration, rising government spending on residential construction, and the rising demand for luxury residential homes. Price changes for raw materials or strict rules governing gypsum mining may limit market expansion.

Market leaders are increasing production capacity and introducing new products with improved strength and durability. The market leaders are also investing in R&D to create products for interior decoration applications, adding designs and textures. These factors will help the market growth over the forecast period.

Regional Analysis

North America accounted for 44.6% of the global gypsum board market’s largest revenue share in 2021. This market is characterized by high demand for sustainable building and rapid adoption of advanced technology. It also has skilled labor. Another key driver of market growth is the increase in residential and commercial construction spending. The region’s prominent manufacturers are expected to increase demand during the forecast period. The Asia Pacific is expected to experience a significant increase in its market share between 2023 to 2032. The established construction industry will boost the market growth in the Asia Pacific and grow construction projects in China, India, and China.

Due to the growth of the construction industry and increased investments, the Middle East & Africa will be the fastest growing regional market during the forecast period. Oman, Qatar, and Jordan are expected to see significant revenue growth. The region’s growth will be driven by the producers of Omani and Saudi Arabian gypsum. Industry players are expected to benefit from favorable government regulations on construction projects and increased investments from foreign companies and public-private partnerships within major economies. The growth will be impeded by fluctuations in raw material prices and mining restrictions within major economies.

Key Regions and Countries covered іn thе rероrt:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Spain
  • Rest of Europe
• APAC
  • China
  • Japan
  • South Korea
  • India
  • Rest of Asia-Pacific
• South America
  • Brazil
  • Argentina
  • Rest of South America
• MEA
  • GCC
  • South Africa
  • Israel
  • Rest of MEA

Market Share & Key Players Analysis:

Major companies increasingly focus on acquisitions of smaller companies in the sector to expand their geographical reach, production capabilities, and product range. Due to the many multinational companies, this market is very competitive. The market will be more competitive if the top players invest in R&D to develop new product designs and textures.

Маrkеt Кеу Рlауеrѕ:

• Saint-Gobain Gyproc
• Gulf Gypsum Co.
• Knauf Gips KG
• National Gypsum Company
• Georgia-Pacific LLC
• USG Corp.
• LafargeHolcim Ltd.
• Other Key Players

For the Gypsum Board Market research study, the following years have been considered to estimate the market size: