Gypsum Board Market is Forecasted to Top US$ 181 Billion at 12.3% CAGR by 2033

The global gypsum board market is forecasted to reach a valuation of US$ 181 billion by the end of 2033. Global demand for gypsum boards is estimated to increase at an exceptional CAGR of 12.3% from 2023 to 2033. Rising requirements from residential and commercial sectors in construction activities are projected to generate lucrative opportunities in for market players.

Demand for gypsum boards is forecasted to rise because of the increasing population along with refugee issues across various countries, which is leading to rising construction activities. Significant growth in the construction industry and growing demand for single-family and multi-family house construction in emerging economies are forecasted to augment demand for gypsum boards over the coming 10 years.

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Gypsum boards generally refer to lightweight construction material that is used as a finish material for ceilings, walls, and partitions in exteriors or interiors of residential as well as non-residential structures. They are also addressed as plasterboard, wallboard, or drywall. They can be attached directly to metal and wood framings by adhesives, nails, or screws.

There have been significant improvements and innovations in the structure of buildings, in recent years. The rising consumer demand for innovative designs and textures on surfaces is predicted to stimulate demand for gypsum boards in high-end construction projects. Gypsum boards are widely used in houses for exterior sheathing, walls, membranes, dire resistance, and ceilings. Owing to the lesser construction time and low costs of gypsum boards, there is a higher demand in the residential sector.

There are a few restraints that are predicted to create obstacles against the adoption of gypsum boards. Extreme exposure to moisture along with rising temperatures can create difficulties in the gypsum board installation procedure in certain areas, including bathrooms and kitchens due to the deterioration of products. Moreover, constant fluctuations in the prices of raw materials because of increased import traffic are also predicted to create challenges for industry players over the coming decade.

Rapid urbanization Surges the Market of Gypsum Board

The construction market is at its peak point. It is creating several opportunities for suppliers of gypsum boards. Governments from developing countries are increasing their spending on infrastructural developments. Rapid urbanization and the growing residential sector are anticipated to drive growth opportunities in the target market.

Increasing popularity of aesthetic improvements in the structure of buildings is estimated to lead to innovative textures and designs, which are predicted to influence sales of gypsum boards. Rising government spending in real estate, growing requirements for high-end residential homes, urban migration, and high-end construction applications are estimated to positively impact sales of gypsum boards.

Key Takeaways from Market Study

• The global gypsum board market stands at a valuation of US$ 56.7 billion in 2023.
• Worldwide demand for gypsum boards is projected to advance at a noteworthy CAGR of 12.3% from 2023 to 2033.
• The global industry is predicted to reach a value of US$ 181 billion by the end of 2033.
• Asia Pacific is estimated to hold a noteworthy share of market revenue over the forecast period.

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Winning Strategy

Key industry players are entering into mergers and acquisitions to expand their footprints.

For instance,

• In February 2022, Etex acquired the top three plasterboard players in Australia. This strategic milestone enabled Etex to extend its footprints in the well-established construction market of the country.

Competitive Landscape

Some prominent producers of gypsum boards are increasing their expenditure on different types of promotional activities and strengthening their supply chain management systems. Effective channels for product supply ensure the quick and safe delivery of gypsum boards. Certain regulations are also imposed to minimize adverse environmental impacts.

New development, acquisitions, and other strategies are adopted by key players to get a competitive edge in the global market.

For instance:

• In October 2022, USG Knauf announced its plans to construct a new gypsum wallboard plant in Cluj Country's Huedin. The investment helped to advance the 'energy savings offensive' of the Romanian government by supporting a renovation drive for houses in the country.
• In July 2022, Holcim acquired Cantillana, a prominent provider of specialty building solutions in Belgium. This acquisition is estimated to strengthen Holcim's position in building energy efficiency and renovation solutions.

Key manufacturers of gypsum boards are Gypsemna, USG Zawawi Drywall LLC SFZ, National Gypsum Company, Yoshino Gypsum Co. Ltd., Extex Group, Lafarge Group, Knauf, and Ahmed Yousef & Hassan Abdulla Co. (AYHACO).

Segmentation of Gypsum Board Industry Research
• By Product :
o Wallboards
o Pre-decorated
o Ceilings
o Others
• By Application :
o Pre-engineered Metal Buildings
o Residential
o Commercial
o Industrial
o Institutional
• By Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa

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This release was published on openPR.