Gypsum Board Market Size, Share & Trends Analysis Report By Product (Wallboard, Ceiling Board, Pre-Decorated), By Application (Pre-engineered Metal Building, Residential, Industrial), By Region, And Segment Forecasts, 2024 - 2030

Gypsum Board Market Size, Share & Trends Analysis Report By Product (Wallboard, Ceiling Board, Pre-Decorated), By Application (Pre-engineered Metal Building, Residential, Industrial), By Region, And Segment Forecasts, 2024 - 2030

Gypsum Board Market Growth & Trends

The global gypsum board market size is anticipated to reach USD 127.06 billion by 2030, registering a CAGR of 12.7% from 2024 to 2030, according to a new report by Grand View Research, Inc. The growth is attributed to the increasing residential and commercial construction spending in developing regions of Asia Pacific, such as China, India, and Indonesia, coupled with strong economic growth in the aforementioned regions is anticipated to drive the market growth over the forecast period.

Rapid urbanization is expected to result in an increase in the number of new projects, primarily in residential and building applications, which, in turn, is likely to fuel the growth of the market over the forecast period. In addition, factors such as the rapidly growing construction industry, increasing technological advancements in the construction sector, and advantages offered by gypsum board, reduced cost & time and easy installations are contributing to the growth of the market.

Developed regions such as North America and Europe are expected to show significant growth due to recovery of housing sector post-recession. The U.S. is expected to remain a key product market over the forecast period owing to increasing wallboard usage in non-load-wearing walls and suspended ceilings.

The most widely used gypsum board products include wallboard, ceiling board, and pre-decorated board, among other products such as sheathing, lath, and plaster base. They are used for partitions and the lining of walls, ceilings, roofs, and floors. The properties of plasterboard can be modified to meet specific requirements, such as fire resistance, humidity resistance, and impact resistance, thus generating considerable and regular demand through its versatility.

Conventionally, gypsum is a common mineral found in thick and extensive evaporate beds in association with sedimentary rocks. It is majorly procured through mining and synthesis processes. Major multinationals involved in gypsum processing are Global Gypsum Mining Company, American Gypsum, and Al-Rawas Mining Co. LLC, among several others such as USG Corporation, Baier Group, and Knauf Dubai.

The players in global market are focused on maintaining strategic relationships with suppliers and distributors in order to maintain a steady product supply. Additionally, the market players generally source the raw materials from multiple sources so as to avoid the disruption in material supply.

Gypsum Board Market Report Highlights

• Based on product, the gypsum ceiling board segment is expected to grow at a CAGR of 12.5% over the forecast period. Gypsum ceiling board is replacing other conventional counterparts including plaster in ceilings and interior walls. These ceiling boards significantly improve the thermal and sound insulation in buildings at a relatively lower cost whilst offering high rigidity and core strength
• The UK market is expected to be driven by a strong growth in construction and refurbishment activities in key sectors such as housing, offices, educational institutes, hotels & restaurants, resorts, transport buildings, and online retail warehousing. However, weakened commercial and industrial activities in the country coupled with uncertainty in the industrial sector due to Brexit may lead to a moderate product demand over the forecast period
• Gypsum board industry is highly technology-driven. Players are focusing on developing new products to satisfy the market demand and gain a competitive edge. Furthermore, key market players operated their businesses focused on cost leadership strategies

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