Gypsum Board Market by Application, Product, and Geography - Forecast and Analysis 2023-2027

Gypsum Board Market Forecast 2023-2027

The gypsum board market is estimated to grow by USD 15.86 billion at a CAGR of 7.45% between 2022 and 2027. The rising number of infrastructural and construction activities, driven by factors such as population growth, urbanization, and economic development, is increasing the demand for construction materials and services. The rise in construction activities across the Asia-Pacific (APAC) region, fueled by rapid urbanization and industrialization, is contributing to market growth as well. The popularity of dry construction techniques, which offer advantages such as speed of construction, cost-effectiveness, and reduced environmental impact, is also driving market as more construction projects adopt these methods.

What will the Size of the Gypsum Board Market be During the Forecast Period?

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Market Segmentation

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. 

By Application

The market share growth by the residential segment will be significant during the forecast period. The 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 during the forecast period. 

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The residential segment showed a gradual increase in the market share, from USD 9.71 billion in 2017 and continued to grow by 2021. Moreover, they 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 by residential consumers, which is driven by an increase in the global demand for the industry.

Who are the Major Gypsum Board Market Companies?                                 

Companies 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 :

• 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
• Yoshino Gypsum Co. Ltd.

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. 

By Region

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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 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 in APAC during the forecast period. 

Market Dynamics and Customer Landscape

The market is experiencing growth due to its versatile applications in wallboard and pre-engineered metal buildings (PEBs). Its hygroscopic properties make it ideal for end-user applications, but susceptibility to water damage raises environmental concerns, particularly in landfills where it can contribute to methane gas emissions. Despite these issues, the market benefits from ongoing construction investments and the rising consumer expenditure in both residential and business construction sectors. Major players in the industry are innovating to meet the demands of a growing market, with a mounting variety offering novel uses in the building sector. The global market continues to expand, driven by the rising population and refugee issues requiring sustainable construction solutions. 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 Market Driver

The rising number of infrastructural and construction activities is a key factor driving the global market. The market is poised for growth due to a surge in construction investments across major economies like China, India, Russia, and the US. Notably, the US Census Bureau highlights a spike in permits for residential construction, driven by the growing demand for multi-family buildings and urban migration trends. Similarly, countries such as Mexico, Australia, and Canada exhibit sustained momentum in residential construction, bolstered by moderate economic growth.

Moreover, regions like India and Australia anticipate a surge in demand for residential accommodation owing to rising population and urbanization rates. For instance, the Indian construction industry witnessed a 6.2% year-over-year growth in the final quarter of 2020, as reported by the Ministry of Statistics and Program Implementation (MOSPI). These trends indicate a rising number of infrastructural and construction activities, promising continued growth for the market in the foreseeable future.

Major Market Trend

The increase in M&A and partnerships will fuel the global market. 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 market in France. The above factors will increase the growth of the global market during the forecast period.

Key Market Challenge

The adverse impact of gypsum on the environment is a major challenge to global 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 Market Customer Landscape

Our analysis of the Life Cycle of the Global 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 Market Customer Landscape

 

 

Market Analyst Overview

The market is influenced by various factors such as Household income, Housing demand, and Renovation activities. Plasterboards are essential in renovation drive for Residential sectors and Renewable energy projects. Multistory apartments and Tall buildings drive demand for Interior walls made of Gypsum board. Plasterboard players like Lafarge and Pabco Gypsum play a key role in the market, ensuring quality and meeting Import tariffs regulations. However, Pollution concerns and Undersupply of raw materials are challenges. The market's Value Chain Analysis involves Ports for transportation, installation process for construction, and Net sales for revenue growth, aiming for Waste reduction and sustainable practices.

The market is driven by affordable housing initiatives and Alternative construction methods, particularly in developing economies. Key players like American Gypsum and Certainteed contribute to the market's growth by providing innovative solutions and Decorative plasters. Prefabricated buildings and Single-family homes are major consumers of Gypsum board, requiring extreme exposure to moisture resistance. The market's Revenue growth rate is influenced by factors such as Environmental issues and Construction waste management. Oxford Economics provides insights into the market's cumulative growth analysis. Health care and Hotels are also significant sectors driving demand for Gypsum drywall boards.

Segment Overview

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.

• Application Outlook 
  • Residential
  • Commercial
  • Industrial
  • Institutional 

• Product Outlook 
  • Wallboard
  • Ceiling board
  • Pre-decorated board
  • Others

• Region Outlook 

  Gypsum Board Market Scope
  Report Coverage	Details
  Page number	120
  Base year	2022
  Historical year	2017-2021
  Forecast period	2023-2027
  Growth momentum & CAGR	Accelerate at a CAGR of 7.45%
  Market growth 2023-2027	USD15865.52 million
  Market structure	Fragmented
  YoY growth (%)	6.55
  Regional analysis	APAC, North America, Europe, the Middle East and Africa, and South America
  Performing market contribution	APAC at 52%
  Key consumer countries	US, China, Japan, India, and UK
  Competitive landscape	Leading companies, Competitive Strategies, Consumer engagement scope
  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.
  Market dynamics	Parent market analysis, Market Forecasting, 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.
  Customization purview	If our market 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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  What are the Key Data Covered in this Market Research Report?

  • North America
    • The U.S.
    • Canada
  • Europe
    • The U.K.
    • Germany
    • France
    • Rest of Europe
  • APAC
    • China
    • India
  • Middle East & Africa
    • Saudi Arabia
    • South Africa
    • Rest of the Middle East & Africa
  • South America
    • Brazil
    • Argentina
    • Colombia
• CAGR of the market during the forecast period
• Detailed information on factors that will drive the market growth and forecasting of the market between 2023 and 2027
• Precise estimation of the size of the market size and its contribution to the parent market
• Accurate predictions about upcoming market trends and analysis and changes in consumer behavior
• Growth of the market industry across Europe, North America, APAC, South America, and Middle East and Africa
• Thorough market growth analysis of the market’s competitive landscape and detailed information about companies
• Comprehensive market analysis and report on the factors that will challenge the market research and growth of market companies

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