Global Gypsum Board Market Research Report, 2024-29

Gypsum board, also known as drywall or plasterboard, is a ubiquitous material in the construction industry. These prefabricated panels, primarily composed of gypsum plaster sandwiched between paper liners, offer a lightweight, versatile, and cost-effective solution for walls and ceilings. The global gypsum board market is experiencing steady growth, driven by a confluence of factors. The global gypsum board market has witnessed steady growth in recent years, driven by a confluence of factors. Rising urbanization and infrastructure development projects are fueling demand for gypsum boards across the globe. As cities expand and populations increase, the need for new housing, office buildings, and public facilities creates a robust market for construction materials like gypsum boards. Furthermore, growing awareness of fire safety regulations and energy efficiency standards is influencing construction practices. Beyond its core function, gypsum board offers a range of valuable properties that contribute to its widespread adoption. These boards possess inherent fire resistance, helping to compartmentalize fires and slow their spread within a building. Additionally, gypsum boards act as a sound barrier, contributing to noise reduction between rooms and enhancing occupant comfort. Furthermore, the smooth surface of these panels provides an ideal base for painting and other finishing materials, allowing for aesthetic customization within a space. Modern gypsum board advancements cater to specific needs, with moisture-resistant varieties ideal for kitchens and bathrooms, and high-impact resistant boards suited for high-traffic areas. The global gypsum board market landscape presents a fascinating interplay between established players and emerging trends. Leading manufacturers like Saint-Gobain, Knauf, and USG maintain a dominant presence, leveraging their extensive distribution networks and brand recognition. However, a growing number of regional players are gaining traction, particularly in high-growth economies like China and India. These regional players often cater to local market needs by offering cost-competitive options and adapting product specifications to regional building codes and preferences. According to the research report, “Global Gypsum Board Market Research Report, 2024-29” published by Actual Market Research, the market is anticipated to cross USD 100 Billion by 2029, increasing from USD 54.26 Billion in 2023. The market is expected to grow with 12.23% CAGR by 2024-29. Developed regions like North America and Europe boast well-established construction industries with a high adoption rate of gypsum boards. Here, the focus is often on innovation and the development of specialized gypsum board products with enhanced functionalities. Moisture-resistant and fire-resistant boards are in high demand, particularly in regions prone to natural disasters or with stringent fire safety regulations. Additionally, lightweight gypsum boards are gaining traction as they offer advantages in terms of reduced building load and potentially lower construction costs. In contrast, developing regions like Asia Pacific and Africa present a unique landscape for the gypsum board market. While urbanization is rapid in these regions, construction practices can vary significantly. Limited domestic production capacity in some countries necessitates dependence on imports, which can expose the market to price fluctuations and supply chain disruptions. Furthermore, a skilled labor shortage in the construction sector can hinder the proper installation of gypsum boards, potentially compromising their effectiveness. However, this also presents an opportunity. Investments in local gypsum board manufacturing and training programs for construction workers can unlock the full potential of the market in these regions. The future of the global gypsum board market hinges on its ability to adapt and evolve. Sustainability is a growing concern in the construction industry, and manufacturers are increasingly focused on developing eco-friendly gypsum boards. This can involve using recycled content in board production or adopting sustainable manufacturing processes that minimize environmental impact. Furthermore, advancements in digital technologies have the potential to revolutionize the gypsum board industry. Building Information Modeling (BIM) can streamline construction processes and optimize the use of gypsum boards, while digital fabrication techniques could lead to the development of prefabricated wall panels incorporating gypsum boards, further accelerating construction timelines.

What's Inside a Actual Market Research`s industry report?

Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

Download Sample

Market Drivers • Rise of Prefabricated Construction and Modular Buildings: The global construction sector is witnessing a significant surge in prefabricated construction techniques and the use of modular buildings. Prefabricated wall panels often utilize gypsum board as a core component due to its lightweight nature, dimensional stability, and ease of integration with other prefabricated elements. This trend is particularly prominent in North America and Europe, where faster construction times, improved quality control, and reduced labor costs are driving the adoption of prefabrication. This presents a unique growth opportunity for the gypsum board market, as it positions gypsum board as a vital material for efficient and high-quality construction projects across the globe. • Growing Focus on Sustainable Building Practices: Environmental consciousness is on the rise globally, and the construction industry is no exception. Gypsum board offers several advantages that align with sustainable building practices. It's a naturally occurring and recyclable material, contributing to a lower environmental footprint compared to traditional construction methods. Additionally, gypsum board's inherent fire resistance properties enhance building safety and potentially reduce the risk of devastating fires. Furthermore, advancements in gypsum board technology are leading to the development of eco-friendly boards with recycled content or incorporating sustainable manufacturing processes. As governments worldwide implement stricter regulations and building codes that prioritize sustainability, gypsum board is poised to benefit from this growing emphasis on eco-friendly construction practices. • Urbanization and Rising Demand for Affordable Housing: Rapid urbanization is a global phenomenon, particularly pronounced in developing regions like Southeast Asia and parts of Africa. This influx of people into cities creates a surge in demand for new housing units, often requiring fast and cost-effective construction solutions. Gypsum board construction offers a compelling option in this scenario. It's faster to install compared to traditional brick-and-mortar methods, and its lightweight nature simplifies construction processes, especially in high-rise buildings. Furthermore, gypsum board can be a cost-competitive alternative, particularly in regions with readily available gypsum resources. As urbanization continues to reshape the global landscape, the demand for gypsum board is expected to rise steadily, driven by the need for affordable and efficient housing solutions in urban centers. Market Challenges

Make this report your own

We're excited to discuss your needs and our solutions. Let's schedule a

Ask an Expert

Praveen Kumar

developer

• The Rise of Substitute Construction Materials: The global gypsum board market faces competition from the emergence of substitute construction materials. These include lightweight alternatives like fiber cement boards or prefabricated building panels utilizing different materials. While gypsum board offers established advantages in terms of fire resistance, ease of installation, and noise control, these substitutes can be attractive options for specific applications. For instance, fiber cement boards might be preferred in high-moisture environments like bathrooms due to their superior water resistance. Staying ahead of this challenge requires gypsum board manufacturers to continuously innovate and develop new product offerings that cater to specific construction needs. Highlighting the unique benefits of gypsum board, such as its recyclability and contribution to sustainable construction, can also be a differentiating factor in a competitive market landscape. • Balancing Affordability with Innovation: Striking a balance between affordability and innovation is a significant challenge for the global gypsum board market. While advancements in gypsum board technology are leading to the development of new and improved products with enhanced functionalities like moisture-resistance, fire-resistance, and soundproofing, these advanced boards often come at a premium price point. This can create a barrier to adoption, particularly in developing regions where cost-effectiveness remains a primary concern in the construction sector. For instance, standard gypsum boards remain dominant in many parts of Africa and Southeast Asia due to their affordability, despite the potential benefits offered by more specialized boards. Manufacturers face the challenge of developing innovative yet cost-competitive gypsum board solutions to cater to the diverse needs and budget constraints of markets across the globe. • Stringent Environmental Regulations and Sustainability Concerns: The construction sector is under increasing scrutiny for its environmental impact. Gypsum board production processes can generate dust emissions and require significant energy consumption. Stringent environmental regulations, particularly in developed regions like Europe, are pushing manufacturers to adopt cleaner production methods and develop gypsum boards with lower environmental footprints. Furthermore, growing consumer awareness of sustainability is leading to a demand for eco-friendly building materials. This translates to a challenge for manufacturers to balance the inherent benefits of gypsum board, such as its recyclability and fire resistance, with the need to minimize its environmental impact throughout the product lifecycle. Developing sustainable sourcing practices, optimizing production processes, and exploring the use of recycled content are all crucial steps manufacturers must take to navigate the evolving landscape of environmental regulations and consumer preferences. Market Trends • Innovation in Product Development: The global gypsum board market is witnessing a growing demand for specialized boards that cater to specific needs beyond the standard drywall option. This includes moisture-resistant boards ideal for kitchens and bathrooms, sound-attenuating boards for improved acoustics in multi-unit dwellings, and fire-resistant boards for enhanced building safety. Stringent building codes in many regions are mandating the use of fire-resistant gypsum boards in specific applications, while rising consumer expectations for comfort and energy efficiency are driving the demand for sound-attenuating and moisture-resistant boards. Manufacturers are constantly innovating to cater to this growing demand, developing new gypsum board formulations and features that address these specific needs. This trend towards product diversification is expected to continue, shaping the future of the global gypsum board market. • Focus on Lightweight Gypsum Boards and Space Optimization: A significant trend gaining momentum within the global gypsum board market is the development and adoption of lightweight gypsum boards. These boards offer several advantages over traditional options. They are easier to handle and install, reducing labor costs and potentially accelerating construction timelines. Furthermore, their lighter weight translates to reduced building loads, which can be beneficial in high-rise construction projects. Advancements in manufacturing processes are leading to the creation of even thinner gypsum boards that maintain structural integrity. This opens doors for design flexibility in creating thinner yet functional walls and partitions, potentially optimizing space utilization within buildings, particularly relevant in urban environments with limited space. • Digitalization and Automation in Gypsum Board Manufacturing: The global gypsum board industry is gradually embracing digitalization and automation technologies to streamline production processes and enhance efficiency. This includes the adoption of computer-aided manufacturing (CAM) systems to optimize cutting processes and minimize material waste. Additionally, automation in material handling and logistics can improve overall production speed and reduce reliance on manual labor. Furthermore, the use of digital tools for quality control can ensure consistent product quality and minimize defects. As digitalization and automation continue to penetrate the gypsum board manufacturing landscape, they are expected to contribute to increased production capacity, improved product quality, and potentially lower production costs, impacting the global gypsum board market in the long run. •

Don’t pay for what you don’t need. Save 30%

Customise your report by selecting specific countries or regions

Specify Scope Now

Wallboards lead in the Gypsum Board market attributed increasing urbanization and growing demand for affordable housing. Undisputedly, wallboard stands as the dominant segment within the global gypsum board market, capturing a staggering over two-thirds of the market share. This preeminence can be attributed to its versatility and applicability across a wide range of construction projects. Wallboard serves as the foundation for walls and partitions in residential, commercial, and institutional buildings. Its ease of installation, lightweight nature, and fire-resistant properties make it a preferred choice for builders worldwide. Developed economies with mature construction sectors, like North America, Europe, and parts of Asia, are significant consumers of wallboard due to their high volumes of new construction and renovation activities. However, the dominance of wallboard extends beyond simple functionality. The growing demand for aesthetics and faster construction times is propelling a sub-segment within wallboard – pre-finished or pre-decorated boards. These boards come pre-painted or textured, eliminating the need for separate painting or finishing stages, which translates to faster project completion times and reduced labor costs. This trend is particularly pronounced in North America and Europe, where time-conscious construction schedules and a growing preference for aesthetically pleasing interiors are driving the demand for pre-finished wallboards. Looking ahead, the wallboard segment is expected to maintain its leadership position within the global gypsum board market. Factors like increasing urbanization and growing demand for affordable housing will necessitate faster and more efficient construction methods, further solidifying the role of wallboard. Furthermore, advancements in sustainable construction practices are leading to the development of eco-friendly wallboards made with recycled content or incorporating lower embodied energy during production. This focus on environmental responsibility is likely to resonate with a growing segment of builders and architects, potentially leading to a shift towards sustainable wallboard options. However, challenges persist. Ensuring affordability and accessibility of these advanced wallboard solutions in developing regions will be crucial for widespread adoption. Additionally, navigating stringent building codes and fire safety regulations in various regions will be a key consideration for manufacturers as they cater to the diverse needs of the global marketplace. The residential sector leads in the Gypsum Board market due to the demographics, urbanization trends, and economic considerations. By a significant margin, the residential sector reigns supreme as the leading application segment within the global gypsum board market, accounting for majority of the total market share. This dominance can be attributed to a confluence of factors affecting demographics, urbanization trends, and economic considerations. A burgeoning global population, particularly in developing regions like Southeast Asia and parts of Africa, is a key driver. This population growth translates to a rising demand for new housing units, and gypsum board construction offers a fast, cost-effective, and versatile solution for residential walls and ceilings. Furthermore, rapid urbanization is another factor propelling the residential segment. As people migrate towards cities, the demand for high-rise apartments and multi-unit dwellings increases. Gypsum board construction is ideally suited for these projects due to its lightweight nature, ease of installation within confined spaces, and ability to create efficient layouts with flexible partition walls. Beyond demographics, economic considerations also solidify the residential sector's leading position. Gypsum board offers a cost-competitive alternative to traditional brick-and-mortar construction methods, particularly in regions with readily available gypsum resources. This affordability is crucial in developing economies where a significant portion of the population seeks affordable housing solutions. Additionally, the growing popularity of renovations and remodeling projects in developed regions like North America and Europe further fuels the demand for gypsum board. Homeowners looking to refresh their living spaces or improve functionality often utilize gypsum board for its ease of installation and ability to create new layouts or soundproof specific areas. Looking ahead, the residential segment is expected to maintain its dominance within the global gypsum board market. Government initiatives promoting affordable housing projects in developing regions and a rising focus on sustainable construction practices, where gypsum board offers advantages due to its recyclability, are likely to propel further growth in this segment. Asia-Pacific leads in the Gypsum Board market due to the region’s rapid economic growth and large-scale infrastructure development projects. The Asia Pacific region is witnessing an unprecedented surge in construction activity, fueled by rapid economic growth and large-scale infrastructure development projects. This translates to a significant demand for building materials, and gypsum board, with its versatility and affordability, has emerged as a preferred choice. Furthermore, rapid urbanization is another key driver. As cities across Asia Pacific experience population influxes, the need for residential and commercial buildings is skyrocketing. Gypsum board offers a quick and efficient solution for constructing walls, ceilings, and partitions, making it ideal for the fast-paced construction requirements of urban environments. While cost-effectiveness is a significant advantage of gypsum board in the Asia Pacific market, the leading position is not solely driven by price. Manufacturers in the region are increasingly catering to a growing demand for specialized gypsum boards. This includes moisture-resistant boards for use in kitchens and bathrooms, fire-resistant boards for enhanced building safety, and sound-attenuating boards for improved acoustics in multi-unit dwellings. Stringent building codes in some countries within the region mandate the use of fire-resistant boards, further propelling the demand for these specialized products. The Asia Pacific market is also witnessing a growing focus on sustainability in construction practices. Gypsum board manufacturers are developing eco-friendly solutions, such as boards made with recycled content or incorporating sustainable manufacturing processes. This aligns well with government initiatives in several countries within the region that are promoting green building practices and energy-efficient construction materials. The Asia Pacific gypsum board market is expected to maintain its leadership position in the foreseeable future. Government investments in infrastructure projects, ongoing urbanization trends, and a rising middle class with increasing disposable income are all factors that will continue to drive demand for gypsum boards. However, it's important to acknowledge the regional variations within Asia Pacific. The dominance of the Asia Pacific region is further bolstered by a well-established gypsum board manufacturing base. China, India, and Japan are leading producers within the region, catering to the domestic demand and exporting to neighboring countries. This localized production keeps costs competitive and ensures a readily available supply of gypsum boards. However, the market dynamics within Asia Pacific are not uniform. Developed economies like Japan and South Korea exhibit a higher preference for high-performance and specialized gypsum boards, while developing nations within the region might prioritize cost-effectiveness and standard board options. • April 2024: Saint-Gobain Gyproc India, a key player in the building materials sector, launched a new line of construction products. This innovative range boasts enhanced performance, design aesthetics, and improved durability. The product line includes Rigiroc-multi-purpose moisture resistant gypsum board with added advantages and Habito Standard- a high quality gypsum board for loading applications. • February 2024: Saint-Gobain, a major industry player, announced a significant step towards sustainability. Their gypsum facility in Vancouver, British Columbia, is implementing a heat recovery system expected to reduce Scope 1 carbon dioxide emissions by up to 15%. This initiative aligns with Saint-Gobain's commitment to environmental responsibility and their "Grow and Impact" strategy focused on reducing energy consumption and achieving carbon neutrality by 2050. This news highlights the gypsum board industry's growing focus on eco-friendly practices. • December 2023: A recent development in the gypsum board market relevant to trade policies is the imposition of anti-dumping duties by the Indian government on gypsum board imports from China. This action by the Indian authorities aims to protect domestic gypsum board manufacturers from unfair price competition. The impact of this decision on the Indian gypsum board market dynamics will be worth monitoring in the coming months, as it could potentially lead to a rise in domestic gypsum board prices or a shift in import sources for Indian construction companies. • December 2023: A collaborative study by USGKnauf, a gypsum board manufacturer, and The Energy and Resources Institute (TERI) was presented at the 15th GRIHA Summit in December 2023. This research focused on the potential of gypsum board drywalls to improve energy efficiency in buildings. The study examined a hospitality building across five climatic zones in India, analyzing factors like embodied energy, global warming potential, building energy consumption, and structural performance. The positive results presented at the summit highlight gypsum board construction as a viable solution for sustainable and energy-efficient buildings. • October 2023: Beneficial Reuse Management (BRM), a Chicago-based firm specializing in industrial byproduct diversion and recycling, has acquired USA Gypsum, a leading gypsum wallboard recycling company based in Denver, Pennsylvania. This acquisition strengthens BRM's access to recycled drywall scrap, a key sustainable alternative in gypsum board production. The move also expands BRM's geographic footprint and complements their existing gypsum processing operations. This signifies a growing trend in the construction industry towards utilizing recycled materials for environmental benefits. Considered in this report • Historic year: 2018 • Base year: 2023 • Estimated year: 2024 • Forecast year: 2029 Aspects covered in this report • Gypsum Board market Outlook with its value and forecast along with its segments • Various drivers and challenges • On-going trends and developments • Top profiled companies • Strategic recommendation By Product • Wallboard • Ceiling Board • Pre-decorated Board • Others By Application • Residential • Industrial • Commercial • Others (Pre-Engineered metal building and Institutional) The approach of the report: This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations, and organizations related to the Gypsum Board industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.