The global gypsum board market is thriving in construction due to the demand for cost-effective materials. Gypsum boards, lightweight construction materials, serve as walls, ceilings, and partitions in various structures. Also known as drywall or plasterboard, they can be easily attached to framing or existing surfaces. Their versatility, quality, sound control, and non-combustible core distinguish them from other materials. Widely used in residential and non-residential constructions, gypsum boards meet the growing need for efficient and economical building solutions in the construction industry.
Data Bridge Market Research analyses that the Global Gypsum Board Market value 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.
"Increasing renovation and remodeling drive the market growth"
A growing market trend is the increased focus on renovating and remodeling existing buildings. Gypsum boards are preferred for such projects due to their remarkable adaptability. They offer the ability to create modern interiors without extensive structural alterations. This makes them ideal for those seeking to revitalize and update spaces efficiently. The versatility of gypsum boards aligns with the evolving preferences in renovation and remodeling, contributing to their popularity in the construction and design sectors.
What restraints the growth of the global gypsum board market?
"Rising stringent building codes and regulations hamper the market growth"
Excessively stringent or complex building codes and regulations pose significant challenges for manufacturers and builders in the construction industry. Compliance with these regulations can lead to increased costs and delays in construction projects. The stringent requirements may necessitate additional resources and time-consuming processes, negatively impacting overall project timelines and economic feasibility.
Segmentation: Global Gypsum Board Market
The global gypsum board market is segmented on the basis of product, thickness, and application.
- On the basis product, the global gypsum board market is segmented into wallboard, ceiling board, pre-decorated boards, and others
- On the basis of thickness, the global gypsum board market is segmented into 1/2-inch, 5/8-inch, and others
- On the basis of application, the global gypsum board market is segmented into pre-engineered building, residential, industrial, commercial, and institutional
Regional Insights: North America dominates the Global Gypsum Board Market
North America dominates the global gypsum board market, driven by a surge in sustainable construction demand, increased spending on residential and commercial projects, widespread adoption of advanced technology, and the presence of major manufacturers. The region's construction industry's strong growth, coupled with a focus on environmentally friendly practices, positions North America at the forefront of the gypsum board market, showcasing a trend toward sustainable building solutions.
Middle East and Africa is expected to dominate the global gypsum board market during the forecast period. The region anticipates accelerated growth driven by increased investments, a surge in gypsum production, and expansive developments in the construction industry. With a strong outlook for the coming years, the Middle East and Africa are positioned as key contributors to the market's rapid expansion, showcasing the region's growing significance in the global gypsum board industry.
Recent Developments: Global Gypsum Board Market
- In May 2023, Chiyoda-Ute announced the launch of the "Chiyoda Circular Gypsum Board," a groundbreaking product starting June 2023. This marks a global milestone as the world's first gypsum board to use 100% recycled gypsum from construction sites. Reflecting Chiyoda-Ute's commitment to sustainability, its carbon-neutral manufacturing employs wood chips for boiler heating and relies on renewable energy sources, exemplifying the industry's dedication to reducing environmental impact
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The Prominent Key Players Operating in the Global Gypsum Board Market Include:
- LafargeHolcim (Switzerland)
- Saint-Gobain (France)
- Etex (Belgium)
- Beijing New Building Material (Group) Co., Ltd. (China)
- NATIONAL GYPSUM PROPERTIES LLC (U.S.)
- Global Mining Company (Oman)
- United Mining Industries (Saudi Arabia)
- Gulf Gypsum Industrial (U.A.E)
- Knauf Gips KG (Germany)
- ZAWAWI MINERALS LLC (Oman)
- gypsemna (United Arab Emirates)
- YOSHINO GYPSUM CO., LTD. (Japan)
- AYHACO Gypsum Products Manufacturing (U.A.E)
- VOLMA (Russia)
- VANS Gypsum (India)
- Osman Group (Egypt)
- PABCO Gypsum (U.S.)
- CHIYODA UTE CO., LTD. (Japan)
- CONTINENTAL BUILDING PRODUCTS (U.S.)
- Georgia-Pacific Gypsum LLC (U.S.)
Above are the key players covered in the report, to know about more and exhaustive list of global gypsum board market companies, contact: https://www.databridgemarketresearch.com/contact
Research Methodology: Global Gypsum Board Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
