The global Drywall Gypsum Board market size was USD 51 Billion in 2022 and is expected to reach USD 153.21 Billion in 2032, and register a rapid revenue CAGR of 13% during the forecast period. Rapid urbanization and expansion in the construction sector, particularly in emerging markets, and rising consumer demand for environment-friendly and cost-effective building materials, as well as simplicity of installation and affordability of gypsum boards are major factors driving market revenue growth.
Gypsum boards, also known as Plasterboard or plasterboard, are frequently used in the building industry for interior walls and ceilings, due to their qualities including fire resistance, sound insulation, and moisture resistance. Gypsum board demand in the construction industry is rising by increasing use of green buildings and eco-friendly construction techniques.
North America accounted for the largest revenue share in 2021 due to growing environmental awareness promoting sustainable building materials, increasing demand from the residential and commercial sectors, and various innovations and the rapid introduction of state-of-the-art technology in gypsum manufacturing.
Companies profiled in the market report include National Gypsum Services Company, Saint-Gobain Gyproc India Ltd, USG Corporation, American Gypsum Company, LLC., Georgia-Pacific., Global Gypsum Co. Ltd, Holcim, Knauf Digital GmbH, Etex Group, and Certainteed.
The global gypsum board market has been segmented based on type outlook, end-use outlook, product outlook, and regional outlook. Type outlook includes Regular Gypsum Board, Type X, and Others; End-Use Outlook includes Residential, Institutional, Commercial use, Industrial, and Others; Product Outlook includes Wall Board, Ceiling Board, Pre-Decorated Board, and Others; and Regional Outlook includes North America, Europe, Asia-Pacific, Latin America, Middle East Africa.
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Gypsum Board Market: Drive factors
The Drywall Gypsum Board Market is influenced by various factors that drive its growth and demand. Some of the key drive factors include:
- Construction Industry Growth: The construction industry plays a vital role in the demand for gypsum boards. As the construction sector expands, there is a higher demand for gypsum boards for interior wall and ceiling applications. Growing urbanization, infrastructure development, and residential construction projects contribute to the increased demand for gypsum boards.
- Rising Demand for Sustainable Construction Materials: Gypsum boards are known for their sustainability and eco-friendly properties. They are made from a natural mineral, gypsum, and are recyclable. With increasing environmental concerns and a shift towards sustainable construction practices, the demand for gypsum boards has been rising.
- Ease of Installation and Cost-Effectiveness: Gypsum boards are lightweight, easy to handle, and can be quickly installed. Their ease of installation makes them a preferred choice for contractors and builders, leading to time and cost savings. Additionally, gypsum boards are relatively affordable compared to other construction materials, making them a cost-effective option.
- Fire and Sound Resistance: Gypsum boards have excellent fire resistance properties, as they are composed of non-combustible gypsum core. They help in containing the spread of fire and are often used for fire-rated partitions and ceilings. Furthermore, gypsum boards offer good sound insulation, making them popular for noise control in buildings.
- Interior Design Flexibility: Gypsum boards provide flexibility in interior design and finishing options. They can be easily shaped, molded, and textured to create decorative elements such as arches, cornices, and panels. Gypsum boards also allow for various surface finishes, including painting, wallpapering, and tiling, enabling customization according to design preferences.
- Growing Renovation and Remodeling Activities: With an increasing focus on renovating and remodeling existing buildings, the demand for gypsum boards has been growing. Gypsum boards are commonly used for interior renovations, as they facilitate quick and efficient changes to walls and ceilings, allowing for easy modifications and upgrades.
- Increasing Popularity of Drywall Systems: Drywall systems, which extensively use gypsum boards, are gaining popularity due to their advantages over traditional construction methods. Drywall systems offer faster installation, better performance, and improved aesthetics, contributing to the growing demand for gypsum boards.
- Economic Growth and Infrastructure Development: Economic growth and infrastructure development initiatives by governments worldwide drive the demand for gypsum boards. Infrastructure projects, such as commercial buildings, schools, hospitals, and transportation facilities, require gypsum boards for their construction and interior applications.
- Technological Advancements: Technological advancements in gypsum board manufacturing have resulted in improved product quality, durability, and performance. Advanced manufacturing processes have made gypsum boards stronger, lighter, and more resistant to moisture, impacting their demand positively.
These drive factors collectively contribute to the growth of the gypsum board market, with increased construction activities, sustainability concerns, ease of installation, and favorable properties driving the demand for gypsum boards worldwide.
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