Gypsum Board Market Scenario
The gypsum board market size is predicted to grow with a CAGR of 11.6% by 2028.
The global gypsum board market is presumed to register a significant CAGR during the forecast period (2021-2028) owing to the rapid urbanization, asserts Market Research Future (MRFR). Gypsum boards are made of gypsum and are employed as an aesthetic building material. Gypsum boards are in high demand due to their application for decorative purposes. They are available in different textures, shapes, and sizes, and are cost-effective. Also known as wallboards or plasterboards, gypsum boards can be directly attached to the wooden or metal framing. They are light in weight and are resistant to fire and are highly used for walls and ceilings, and for partitions.
Drivers and Constraints Impacting the Market
One of the prevalent factors presumed to stimulate the gypsum board market is the development in the construction sector, where gypsum boards are accepted as important building materials. Gypsum boards can easily replace other construction materials like bricks, woods, plywood, and others as they are easy to install, economic, and offer sound dampening properties. Such factors are likely to augment the global gypsum board market during the assessment period. Moreover, the growing residential sector coupled with rapid urbanization are some of the other major factors anticipated to drive the market in the coming years.
On the flip side, fluctuating in importing prices of raw materials from other countries in terms of taxation is considered to retard the global gypsum board market in the coming years.
Gypsum Board Market: Segmental Analysis
The global gibson boards market has been segmented on the basis of type, product, application, and region.
By mode of product, the global gypsum board market has been segmented into gypsum ceiling board and gypsum wallboard. Among these, the wallboards are presumed to dominate the global gypsum board market as they are primarily used as interior surfacing for buildings.
By mode of type, the global gypsum board market has been segmented into type X gypsum board and regular gypsum board.
By mode of application, the global gypsum board market has been segmented into institutional, residential, commercial, and others. Among these, the residential sector has emerged as the largest application during the review period. The growth is attributed to the growing emphasis on the delivery of affordable housing coupled with rising government spending in this region. The most common gypsum board used in the residential sector is the wallboards, where the joints between the internal corners and panels are reinforced with tape and are covered with a joint compound which creates a surface for the final decoration.
Regional Insights
Geographically, the gypsum board market span across Asia Pacific, Europe, North America, and Rest-of-the-World (RoW).
Among all the regions, Asia Pacific is estimated to be the leading region and is expected to maintain its dominance during the review period owing to the high availability of low-cost labor and ample raw materials. China is presumed to be the leading producer of gypsum board in this region. Thailand, India, and few other Southeast Asian countries showcase ample opportunities due to rapid economic expansion coupled with rising housing demand in semi-urban as well as rural regions.
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Gypsum Board Market Industry Updates
Gyprock has recently launched Glasroc F, which is a new paperless gypsum board that provides premium-performance against fire protection for beams and structural steel columns through crafty design and the innovative application of research.
Competitive Dashboard
The major players operating the global gypsum board market are National Gypsum, Etex Group, Lafarge, Pabco Gypsum, American Gypsum, Georgia-Pacific, Certainteed, Gulf Gypsum, Knauf Dubai, Taishan Gypsum, and others.
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