[150 Pages Report] The Global Gypsum Board Market is expected to grow at a high CAGR of 6.5% during the forecasting period (2022-2029).
Gypsum Board Market - Strategic Insights
By Type, By Product, By Thickness, By Shape, By Application and By Region
Report Insights Covered
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.
Fastest Growing Region
Largest Market Share
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Gypsum boards are used to form panels by pressing two thick sheets of paper made from gypsum plaster. It is also known as drywall, plasterboard or wallboard. Gypsum board is substantially used as partitions and linings between walls, ceilings, roofs and floors. It provides many attributes that make an attractive construction material. It provides thermal insulation between the walls, ceiling which helps in reducing air-conditioning load and lowers the electricity bill, improves energy efficiency and provides a better working environment for residential and commercial sectors.
Gypsum board is substantially used in end-user industries such as building & construction, cold storage, industrial and among others.
The global gypsum board market is driven by rising demand for thermal insulation in commercial offices, residential and industrial projects owing to a surge in urbanization and industrialization around the globe. As gypsum boards facilitate thermal insulation which helps in energy saving needed in the air conditioning of the buildings.
Rising demand of the gypsum board in the building and construction sector for providing thermal insulation to the buildings and facilitating energy saving
The market is driven by a surge in the demand by the buildings & construction industries for energy-saving and providing better aesthetics to the walls, ceilings of the buildings. For instance as per the Global Alliance for Buildings and Construction (GABC) report in 2016, the global buildings sector with floor area reached an estimated 235 billion m2 and continues to grow with energy consumption reached to nearly 125 EJ in 2016. The new construction is projected to reach 230 billion square metres by 2050. It created a massive demand for the gypsum board market.
An increase in the penetration of new products owing to continuous product innovation is likely to create high demand in construction applications which may create a huge opportunity
An increase in launching of the innovative products with the surge in demand in the buildings and construction sector by the leading players may create a huge opportunity for the growth of the gypsum board market. For instance on 27th June 2017, Saint Gobain India Pvt. Ltd-Gyproc Business launchedHabito revolutionary gypsum board. It created new benchmarks in Drywall solution by facilitating enhanced performance in load fixing strength, robustness and acoustics applications. This innovation has provided greater flexibility to the customers with their space and ease the process of loading on drywall.
Strict rules and regulations regarding the use of the gypsum due to its adverse health effects such as it can irritate the skin may hamper the growth of the market
The gypsum material is permissible up to a certain limit as it can affect health hence several governments have set limits for exposure to these materials. For instance, the Occupational Safety and Health Administration (OSHA) has set permissible exposure limit legal limit for gypsum exposure in the workplace as TWA 15 mg/m3 for total exposure and TWA 5 mg/m3 for respiratory exposure over an 8-hour workday. It may hamper the growth of the gypsum board in industrial sectors.
COVID-19 Impact Analysis
The global gypsum board market has shown slight declination due to theCovid-19pandemic, as several leading manufacturing industries were closed. Several countries have restricted production activities during the covid-19 pandemic. Further, the growth of the new construction was also declined due to low demand in June 2020.
However, the demand for the gypsum board is slightly increased in August 2020, as several leading construction projects started. Demand for the gypsum board declined almost in every country due to the low supply of raw materials and construction materials. For instance in March 2020 construction business showed a massive drop in France by -40.2% and Italy by -36.2%, in overall Europe (EU-27), the construction business has decreased by 12%. Further demand for gypsum boards slightly increase in August 2020 and demand will increase as soon as the pandemic is over.
The global gypsum board is segmented based on type, product, thickness, shape, application and region.
Rising demand for drywall with the surge in the global buildings & construction projects have propelled the global gypsum board market
In terms of type, the global gypsum boards are bifurcated into, pre-decorated wallboard, ceiling board and others. Among these, ceiling board has the highest market share in 2019, owing to the rising demand building & construction sector in the developing region due to the presence of huge population demand. For instance, as per the Invest Government Organization in India, the construction industry is reaching around US$ 738.5 billion by 2022 with growing at a CAGR of 15.4% between 2016-2022. Ceiling board is used in interior walls on ceilings which improves the thermal, high rigidity, core strength and sound insulation in buildings at a lower cost. It created a massive demand for the drywall segment require in the huge buildings and construction projects.
Similarly, the pre-decorated, segment is also growing at a faster pace owing to a surge in construction projects around the globe.
Increasing urbanization with growing investment in the building and construction projects have propelled the high fire & moisture resistance segmental growth for protection against hazardous events around the globe
In terms of product, the global gypsum board market is divided into moisture resistant board, high fire & moisture resistance, plain, paperless gypsum board, aerated gypsum, Mold resistant gypsum board, type X gypsum board, sound-proof gypsum boards and others. As per the We forum Organization, the global urban population increased to 4.2 billion and it is expected to exceed 6 billion by 2045. It created a massive demand for the high fire & moisture resistance segment growth used in the urban buildings projects.
Increasing demand for global investment for building and construction projects around the globe have propelled the gypsum board with12-15 mm thickness segmental growth
Based on the thickness, the global gypsum board market is divided into 0-10 mm, 10-15 mm, 15-20 mm, 20-25 mm and Above 25 mm. Among this 10-15 mm thickness segmental growth has the highest market share owing to surge in the global investment projects in the developing countries. For instance, as per World Bank Organization in 2018, the investments across 409 projects in developing countries such as Indonesia, India, China and Turkey in 2019 reached around US$96.7 billion.
Depending upon the shape, the global gypsum board market is divided into square, tapered, bevelled and round edge, rectangular and others. Among this rectangular shape, the segment has the highest market share in 2019, this is primarily due to rising demand for walls and ceilings in the building and construction sector.
Industrialization and urbanization around the globe have propelled the residential segmental growth around the globe
In terms of application, the global gypsum board market is divided into industrial, commercial, residential, institutional sectors and others. Among this residential segment has the highest market share in 2019, this is primarily due to rising demand for construction in the residential sector due to rising renovation investment by homeowners around the globe.
Asia-Pacific region holds the largest market share global gypsum board market
Asia-Pacific region is dominating the global gypsum board market accounted for the largest market share in 2019, due to growing industrialization and rising investment by the leading players with well-versed construction industry demand in this region followed by North America and Europe.
Further increasing government and private companies investing in the Asia-Pacific region for several projects have propelled the demand for the gypsum board market in this region. For instance, in the Asia-Pacific region, Singapore country’s building and construction investment in 2019 stood at around US$ 7.3 billion.
Further increasing foreign direct investment in the Asia-Pacific region have propelled the demand for the gypsum board market. For instance, as per the UNCTAD report, foreign direct investment to developing Asia stood at around US$ 476 billion in 2016. Similarly, North America is also growing at the fastest speed owing to growing investment in buildings and construction with the surge in government funding and support for infrastructure development projects.
For instance, United States Government has provided the plan with an investment of US$2 trillion for the United States infrastructure development for the overall growth of the region's industry in 2019.
The Gypsum Board Market is moderately competitive with the presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include USG Corporation, Lafarge Holcim, Cornerstone Building Brands, National Gypsum, Saint-Gobain, Knauf, Gulf Gypsum Co, Kingspan Group plc, Georgia Pacific and among others.
The major players are adopting several growth strategies such as product launches, acquisitions and collaborations, which are contributing to the growth of the Gypsum Board Market globally. For instance, on 16th October 2020, USG Boral launched a sheetrock standard plasterboard in India for drywall and ceilings applications.
Kingspan Group plc:
Overview: Kingspan Group plc was founded in the year 1965 and headquartered in Kings Court, Ireland. It is a building materials company based in Ireland trading in over 70 countries with over 100 factories employing some 14,000 people. Insulated panels and facades, Insulation, Structural, Solar and Renewable Engineered Timber Systems, Access Floors, Wind Turbines, Septic Tanks are the various products of the Kingspan group in the market.
The company operates with 5 divisions: Insulated Panels, Insulation, Light + Air, Water & Energy and Data & Flooring Technology are the 5 divisions of Kingspan Group.
Product Portfolio: The Company has a product portfolio of the global gypsum board that includes:
What is the Gypsum Board Market growth?
The market is growing at a CAGR of 6.5%
What is Gypsum Board Market size in 2021
The Gypsum Board Market size was valued at USD YY million in 2021
Who are the key players in Gypsum Board Market?
National Gypsum, Saint-Gobain, Knauf, Gulf Gypsum Co, Kingspan Group plc, Georgia Pacific
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