Gypsum Board Market Expected To Hit CAGR of 11.8% By 2028

 

Gypsum Board Market Growth & Trends

The global gypsum board market size is expected to reach USD 109.95 billion by 2028 registering a CAGR of 11.8%, according to a new report by Grand View Research Inc. Increasing utilization of gypsum boards in decorative and partitioning applications in residential constructions is anticipated to drive the market over the forecast period. Rise in the construction industry across the globe is likely to provide growth opportunities to the market. The product demand is also driven by the residential sector, wherein, it is widely used for room partitioning.

These products are available in the form of wallboards, ceiling boards, pre-decorated boards, etc., which also boosts their demand in the construction application. Moreover, high durability and low weight of the product coupled with easy handling measures have propelled its demand in commercial, institutional, and industrial facilities for impact & mold resistance, exterior sheathing, and shaft wall constructions. Moreover, the availability of decorative designs on the boards is likely to support the growth over the forecast period. The U.S. Environmental Protection Agency (EPA) has approved the use of Flue Gas Desulphurization (FGD) Gypsum as a substitute to mined gypsum for the production of wallboards.

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Gypsum Board Market Report Highlights

• The wallboard segment led the global market in 2020 and will expand at a steady CAGR over the projected period owing to the wide utilization of wallboards in partitioning and decorative applications, majorly in multi-family residential constructions
• In 2020, the residential application segment dominated the global market with a share of over 47% and is projected to ascend at the fastest CAGR over the forecast period
• The residential application segment growth can be attributed to the rising need for the construction of multi-family houses in regions, such as Asia Pacific and North America
• North America accounted for the largest market share of over 42% in 2020 on account of the well-established construction industry and quick adoption of advanced construction materials
• Saint-Gobain was the leading market player with gypsum solutions offered under brands, such as CertainTeed, British Gypsum, Gyproc, Rigips, and Placo

Gypsum Board Market Segmentation

Grand View Research has segmented the global gypsum board market on the basis of product, application, and region:

Gypsum Board Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• Wallboard
• Ceiling Board
• Pre-decorated Board
• Others

Gypsum Board Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• Pre-engineered Buildings
• Residential
• Industrial
• Commercial
• Institutional

Gypsum Board Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2017 - 2028)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
• Central & South America
  • Brazil
• Middle East & Africa
  • Bahrain
  • Kuwait
  • Qatar
  • Oman
  • Saudi Arabia
  • UAE
  • Jordan
  • Iraq
  • Iran
  • Egypt
  • Syria
  • Turkey
  • Libya
  • Sudan

List of Key Players of Gypsum Board Market

• Saint-Gobain Gyproc
• Knauf Gips KG
• Gulf Gypsum Co.
• USG Corp.
• National Gypsum Company
• LafargeHolcim Ltd.
• Georgia-Pacific LLC

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.