Global Plasterboard Market to Achieve $46.3 Billion by 2033, Growing at 5.7% CAGR

The global plasterboard market is projected to reach US$ 46.3 billion by the end of 2033, growing at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2033.

Plasterboards, commonly used in frame structures as interior wallboards and ceiling linings, offer benefits such as noise reduction and come in various sizes and thicknesses. With ongoing global urbanization, the industry anticipates significant growth in the coming years.

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The plasterboard market is primarily driven by the thriving construction industry, which values its superior craftsmanship, affordability, and ease of installation. Plasterboard is well-suited for use in bathrooms and kitchens due to its moisture resistance, impact durability, and insulation properties for sound and heat. As urbanization continues to accelerate worldwide, demand for plasterboards is expected to rise substantially.

The market is expanding due to increased demand for fire-resistant building materials and dry construction techniques. The market for low-weight plasterboards is expected to create new lucrative opportunities, but the growth of the plasterboard market is currently limited due to factors such as inadequate availability and lack of awareness.

Key Takeaways from Market Study

In 2023, the global plasterboard market was valued at US$ 26.65 billion. The demand for plasterboards is projected to grow at a compound annual growth rate (CAGR) of 5.7% from 2023 to 2033, reaching estimated sales of US$ 46.3 billion by 2033. Notably, the United States holds a 29% market share in 2023. Additionally, Germany is expected to experience rising demand for plasterboards, with an anticipated CAGR of 2.8% through 2033. As construction activities continue to expand globally, plasterboards play a crucial role in interior wall and ceiling applications.

List of Key Companies Profiled in The Report

USG Corporation
EVRAZ PLC
National Gypsum Company
National Gypsum Company
Bulfix
Welded Tubes
Tenaris SA
Sandvik AB
KNAUF Gips KG
Others

Winning Strategy

Prominent plasterboard manufacturers are strategically enhancing their manufacturing capacities to introduce boards with improved strength and durability. These companies invest in research and development to create plasterboards featuring unique designs and textures, specifically tailored for interior aesthetics. The ease of installation and replacement makes plasterboards increasingly popular among end users. Furthermore, advancements in extrusion and processing technologies contribute to the growing demand for plasterboards in the market.

Country-wise Insights

The United States is poised to become a profitable market for plasterboard manufacturers due to increasing use in ceilings and non-load-bearing walls. As the construction industry expands, demand for plasterboards is expected to grow, driven by the need for energy-efficient building solutions. Natural disasters, such as hurricanes and wildfires, are also projected to boost plasterboard demand in the U.S.

China dominates the Asia Pacific plasterboard market, thanks to substantial government investments that have fueled rapid infrastructure development. The country's expanding real estate industry, driven by population growth, contributes to rising sales of plasterboards. China is actively developing sustainable, eco-friendly, and high-performance plasterboard solutions.

Infrastructure development and affordable housing programs, along with foreign direct investment, strengthen the construction industry in China and India. Urbanization drives the demand for space, further increasing the need for plasterboards. These countries value plasterboards for their strong adhesive properties and workability.

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Competitive Landscape

In the competitive landscape of the plasterboard market, manufacturers are increasingly focused on expanding their global presence. They employ tactics such as targeted marketing and strategic initiatives. Specifically, companies are managing operations in countries with favorable regulations to reduce costs while retaining industry specialists for critical phases of their businesses. This trend reflects their efforts to establish a stronger foothold in international markets.

Notably, Bullfix, a prominent competitor, introduced a new plasterboard fastening solution in October 2021. This product aims to provide faster, stronger, and more efficient attachment options for heavy objects on plasterboard walls, without requiring additional tools within the wall cavity. Additionally, in February 2022, the USG Boral Building Products Pvt Ltd and Knauf Group signed an acquisition agreement to enhance the supply of various plasterboards, compounds, cornices, and related products.

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This release was published on openPR.