Global Gypsum Board Market Bolstered by Revival of the Construction Industry

The global gypsum board market is currently witnessing a stable growth which can be attributed to factors such as large-scale industrialisation, government initiatives and strong demand from the construction industry.

According to IMARC Group’s new report titled, “Gypsum Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2017-2022”, the global gypsum board market has grown at a CAGR of around 3% during 2009-2016. Gypsum board, also known as drywall, can be defined as a board consisting of a gypsum core pressed between two sheets of thick paper. It is used for interior ceilings, walls and partition systems in various residential, commercial and institutional buildings. It can be directly attached to wood, metal frames and other existing surfaces using screws, nails or adhesives. This makes the installation process more convenient and time saving as compared to traditional processes. Gypsum board has also gained popularity because of its non-combustible core that contains chemically combined water which slowly releases as steam under high temperatures. This effectively helps in retardation of heat transfer and makes it more fire-resistant than plywood, hardwood and fibreboard. Some of its other properties include durability, versatility, cost-effectiveness, light-weight, sound attenuation and aesthetic appearance.

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Highlights of the Gypsum Board Market

Revival of the construction industry remains to be the major driving factor.
Asia Pacific dominates the gypsum board market, accounting for the majority of the total global share.
BNBM Group is a key player followed by Saint Gobain, Knauf, Etex and USG Boral.

As a result of the global economic crisis, the production levels of gypsum declined continuously during 2008-2010, but have steadily recovered since 2011. Since then, however, the revival of the construction industry has created a huge impact on the market. On account of increasing population, new buildings are being constructed, due to which there is a growing demand for gypsum board in the construction industry. Furthermore, rising disposable incomes along with growing inclination of people towards safer construction materials have increased its applications in retrofitting and renovation of existing buildings. Other factors such as large-scale industrialisation coupled with government policies encouraging the use of gypsum board have also catalysed the market growth.

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On the basis of type, the market has been segmented as wallboard, ceiling board and pre-decorated board. Some of the major application areas of gypsum board include residential, corporate, commercial and institutional. On the basis of key regions, Asia Pacific dominates the gypsum board market, followed by North America, Western Europe, Eastern Europe, Africa, and Central and South America. The market is highly competitive with some of the major players being BNBM Group, Saint Gobain, Knauf, Etex, USG Boral and Yoshino.

The report by IMARC Group has examined the global gypsum market on the basis of:

Type:
Wallboard
Ceiling Board
Pre-decorated Board

End-Use:
Residential
Corporate
Commercial
Institutional
Region:
Asia Pacific
North America
Western Europe
Eastern Europe
Africa
Central and South America

Major Manufacturers:
BNBM Group
Saint Gobain
Knauf
Etex
USG Boral
Yoshino

Find more reports related to Chemical & Materials Industry @ http://www.imarcgroup.com/categories/chemicals-market-reports

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This release was published on openPR.