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The gypsum board market is estimated to grow at a CAGR of 7.45% between 2022 and 2027. The size of the market is forecast to increase by USD 15,865.52 million. The growth of the market depends on several factors, including the rising number of infrastructural and construction activities, the rise in construction activities across APAC, and the popularity of dry construction techniques.
This report extensively covers market segmentation by application (residential, commercial, industrial, and institutional), product (wallboard, ceiling board, pre-decorated board, and others), and geography (APAC, North America, Europe, Middle East and Africa, and South America). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The market share growth by the residential segment will be significant during the forecast period. Gypsum board is considered a lightweight construction material, which is widely used in the interiors and exteriors of residential buildings, including ceilings, walls, and partitions. The rapidly increasing construction activities in the residential sector due to accelerated urbanization is expected to increase the demand for gypsum boards during the forecast period.
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The residential segment showed a gradual increase in the market share, from USD 9,715.77 million in 2017 and continued to grow by 2021. Moreover, gypsum board naturally exhibits properties such as fire resistance, light weight, durability, and sound isolation. Therefore, it is widely used in the construction of residential buildings across the world. Moreover, governments across the world are introducing various schemes to increase homeownership. For instance, the Malaysian government has announced a full stamp duty exemption for homebuyers who are buying homes for the first time in the country until 2025. Additionally, the Malaysian government has extended the stamp duty exemption for buyers of abandoned housing projects in the country. Therefore, the exemption from stamp duty is expected to push new developers to take on half-completed projects and potentially accelerate the completion of abandoned housing projects in Malaysia. Similarly, in Australia, government schemes such as HomeBuilder and Solar Upgrade have been supporting the growth of residential construction activities. These factors are expected to drive the growth of residential construction activities in regions notably in APAC, propelling the growth of the regional market during the forecast period. Furthermore, our report provides a brief analysis of historical and forecast market share and their segment along with their reasons for growth from 2017 to 2027.
The growth of this segment is primarily attributed to the increasing adoption of Gypsum Boards by residential consumers, which is driven by an increase in the global demand for the gypsum board industry.
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market
Cabot Gypsum- The company offers a gypsum board comprising non-combustible, dimensionally stable gypsum rock sandwiched between a face layer of 100% recycled ivory-coloured paper and brown back paper.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market vendors, including :
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
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APAC is projected to contribute 52% by 2027. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The rapidly growing construction industry and the rising demand for single-family and multi-family homes across countries in APAC, such as China, Japan, India, and others, are expected to support the growth of the market during the forecast period. In addition, ceiling boards and wallboards are used to upgrade the interior design of commercial and residential buildings. Moreover, rising migration to urban areas in APAC, along with the increased spending of governments on the real estate market for the construction of residential buildings, is expected to fuel the demand for gypsum boards in APAC during the forecast period. Furthermore, changing lifestyles and the increasing demand for sustainable, cost-effective, and cost-saving products are driving the demand for gypsum boards in APAC during the forecast period.
This report forecasts the contribution of all the segments to the growth of the market. In addition, we have included the COVID-19 impact and the recovery strategies for each segment. COVID-19 led to a decline in demand for APAC. The outbreak of COVID-19 negatively impacted the growth of the gypsum board market in APAC in 2020. Governments of several countries in this region, including India, China, and Japan, were compelled to impose partial or full lockdowns due to the COVID-19 outbreak. Therefore, various infrastructural and developmental activities were temporarily halted in this region in 2020, which, in turn, hindered the growth of the gypsum board market in APAC. However, as a result of large-scale vaccination drives conducted across APAC in 2021, the lockdown restrictions were lifted in the region, leading to the resumption of several commercial and constructional activities in APAC, which, in turn, fuelled the demand for gypsum board in this region. Such factors are anticipated to foster the growth of the market in focus on APAC during the forecast period.
The innovative features and user interfaces are notably driving the gypsum board market growth, although factors such as the adverse impact of gypsum on the environment may impede the market growth. Our researchers studied the data for years, with 2022 as the base year and 2023 as the estimated year, and presented the key drivers, trends, and challenges for the market. Although there has been a decrease in demand for the market during the COVID-19 pandemic, a holistic analysis of drivers will help companies refine marketing strategies to gain a competitive advantage.
Key Gypsum Board Market Driver
The rising number of infrastructural and construction activities is a key factor driving the global gypsum board market growth. The rising number of construction activities in major economies, including China, India, Russia, and the US, is expected to augment the demand for gypsum board. As per the US Census Bureau, the growing demand for multi-family buildings, as well as the rise in migration from rural areas to cities, have led to a rise in permits for the construction of new residential buildings. Furthermore, in countries such as Mexico, Australia, and Canada, residential construction is showing signs of sustained momentum, which is underpinned by moderate economic growth. This will drive the growth of the market during the forecast period. Moreover, in countries such as India and Australia, the demand for residential accommodation will increase, owing to the rising population and urbanization, leading to an increase in residential construction in these countries. As per the Ministry of Statistics and Program Implementation (MOSPI), the Indian construction industry grew by nearly 6.2% year over year in the final quarter of 2020. Therefore, the rising number of infrastructural and construction activities is expected to drive the growth of the market during the forecast period.
Key Gypsum Board Market Trend
The increase in M&A and partnerships will fuel the global gypsum board market growth. Vendors in the market are adopting strategies such as mergers and acquisitions and partnerships to gain a competitive advantage over existing vendors as well as new entrants. For instance, In November 2021, Compagnie de Saint Gobain SA acquired a minority stake in Livspace, which is a digital-first company focused on growing residential markets in India and other Southeast Asian countries. Similarly, In October 2021, Compagnie de Saint Gobain SA acquired RABONI Normandie, which is a multi-specialist distributor of construction materials in the dynamic residential renovation market in France. The above factors will increase the growth of the global gypsum board market during the forecast period.
Key Gypsum Board Market Challenge
The adverse impact of gypsum on the environment is a major challenge to the global gypsum board market growth. Gypsum board is a common construction material, which is also known as drywall or plasterboard. Gypsum board production can adversely impact the environment. This is because processing the gypsum releases particulates from the gypsum powder along with sulfur dioxide, nitrous oxide, as well as carbon monoxide, which are harmful to the environment. Moreover, heating the gypsum involves high energy costs. One significant problem with gypsum is that, when left to decompose in landfills, it produces foul-smelling, lethal hydrogen sulfide gas. This hydrogen sulfide is a toxic gas that can build up in the environment as well as cause acid rain, which adversely impacts the environment. Rising environmental concerns across the world can result in a decrease in demand for gypsum boards. Therefore, these factors can hinder the growth of the market during the forecast period.
Key Gypsum Board Market Customer Landscape
Our analysis of the Life Cycle of the Global gypsum board market indicates a movement from the innovator’s stage to the laggard’s stage. The report illustrates the lifecycle of the market, focusing on the adoption rates of the major countries including the US, China, Japan, India, and UK. Technavio has included key purchase criteria, adoption rates, adoption lifecycles, and drivers of price sensitivity to help companies evaluate and develop growth strategies from 2022 to 2027.
Global Gypsum Board Market Customer Landscape
Our report forecasts revenue growth at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027. The market has been segmented by application, product, and region.
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Gypsum Board Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2022 |
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Historical year |
2017-2021 |
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Forecast period |
2023-2027 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 7.45% |
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Market growth 2023-2027 |
$15865.52 million |
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Market structure |
Fragmented |
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YoY growth (%) |
6.55 |
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Regional analysis |
APAC, North America, Europe, the Middle East and Africa, and South America |
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Performing market contribution |
APAC at 52% |
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Key consumer countries |
US, China, Japan, India, and UK |
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Competitive landscape |
Leading companies, Competitive Strategies, Consumer engagement scope |
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Key companies profiled |
Cabot Gypsum Co., China National Building Material Co. Ltd., Compagnie de Saint Gobain SA, Eagle Materials Inc., Fletcher Building Ltd., Gypelite India Pvt. Ltd., INDIA GYPSUM PVT. LTD., Khorasan Gypsum, Knauf Digital GmbH, Koch Industries Inc., KYIV PROFIL LLC, National Gypsum Co., Osman Group, PABCO Building Products LLC, Shandong Baier Building Materials Co. Ltd., VANS Gypsum, Volma, and Yoshino Gypsum Co. Ltd. |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Application
6 Market Segmentation by Product
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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