Gypsum Board Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Drywall & Gypsum Board Market is Segmented by Type (Wall Board, Ceiling board, and Pre-decorated Board), Application (Residential Sector, Institutional Sector, Industrial Sector, and Commercial Sector), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa). The report offers market size and forecasts for the market studied in volume (million square meters) for all the above segments.

Gypsum Board Market Size

Single User License
Team License
Corporate License
Book before:
Gypsum Board Market Summary
share button
Study Period 2019 - 2029
Market Volume (2024) 16.01 Billion square meters
Market Volume (2029) 21.63 Billion square meters
CAGR (2024 - 2029) 6.19 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Gypsum Board Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Single User License

OFF

Team License

OFF

Corporate License

OFF
Book before:

Gypsum Board Market Analysis

The Gypsum Board Market size is estimated at 16.01 Billion square meters in 2024, and is expected to reach 21.63 Billion square meters by 2029, growing at a CAGR of 6.19% during the forecast period (2024-2029).

COVID-19 negatively impacted the market in 2020. However, the market recovered significantly in 2021, owing to rising consumption from various end-user applications, including residential, commercial, and other sectors.

  • Over the short term, key factors driving the market's growth include increasing product demand for residential construction and rising repair activities across the world.
  • However, gypsum boards are prone to water damage owing to their hygroscopic properties. They easily tend to absorb and retain water. In addition, dumping gypsum boards in landfills may result in environmental issues such as leaching toxic chemicals into the groundwater and releasing methane gas. Such factors are hindering the growth of the market studied.
  • Nevertheless, future construction investments are expected to create lucrative growth opportunities for the major players operating in the global gypsum board market over the forecast period.

Gypsum Board Market Trends

This section covers the major market trends shaping the Gypsum Board Market according to our research experts:

Increasing Product Demand from Residential Construction

  • Gypsum boards are widely used as covering material for interior walls and ceilings in residential buildings. They are used as plasterboards, gypsum drywall boards, and decorative plasters. They are important components of plasterboards used for the partitions and the linings of walls, ceilings, roofs, and floors. Similarly, gypsum drywall boards can be used for the same applications while offering the advantages of being soundproof and resistant to shocks and humidity.
  • The increasing demand for residential projects across the world is expected to drive the global gypsum board market over the forecast period. Globally, there has been a significant undersupply to meet the demand for housing. This presented a major opportunity for investors and developers to embrace alternative construction methods and new partnerships to bring forward development.
  • Major cities in economies, including China, India, Brazil, Argentina, and other regions, are expanding and require additional housing to accommodate people migrating from various regions of the country.
  • According to Oxford Economics, China's residential building construction output is expected to grow by 4.5% in 2022 compared to 2021.
  • In India, demand for residential properties has rapidly increased due to growing urbanization and rising household income. According to the Investment Information and Credit Rating Agency of India Limited (ICRA), Indian companies are expected to invest more than INR 3.5 trillion or USD 48 billion in infrastructure and real estate in 2022, including residential infrastructure.
  • The primary drivers of the growth of the gypsum market are the rising home construction trend, rapid urban migration in major economies, increased government spending in the real estate market for residential construction, and the growing demand for high-class residential homes.
  • In addition, the gypsum market is driven by rising real estate costs, particularly in developing single-family homes and multistory apartments in emerging economies. The market is expanding due to the rapidly expanding urban population and the rise in housing demand.
  • Such trends are projected to augment the residential sector, benefiting the demand for the gypsum board market over the forecast period.
Gypsum Board Market, Volume CAGR (%), by Application, Global, 2022-2027

Asia-Pacific Region to Dominate the Market

  • The growing construction industry fueled by rapid urbanization and growing household income is expected to generate strong demand for gypsum boards in the region.
  • According to China's five-year plan, unveiled in January 2022, the construction industry in the country is estimated to register a growth rate of approximately 6% in 2022. China is planning to increase the construction of prefabricated buildings to reduce pollution and waste from construction sites.
  • The growing demand for housing is likely to drive residential construction in the country, both in the public and private sectors. The increase in the construction of tall buildings and hotels is driving the market studied.
  • Likewise, India is likely to witness around USD 1.3 trillion of investment in housing over the next six to seven years. It is also likely to witness the construction of 60 million new houses in the country, which is a major boosting factor for the market studied.
  • The availability of affordable housing in the country is expected to rise by around 70% in the next few years. By this year, India is expected to contribute about USD 640 billion to the construction industry due to government initiatives in infrastructure development and affordable housing, such as Housing for All and the Smart City Scheme.
  • In the Union Budget of 2022-23, the Indian government gave a massive push to the infrastructure sector by allocating INR 10 lakh crore (or USD 130.57 billion) to enhance the infrastructure sector.
  • In Japan, the construction of 258 high-rise buildings with 103,100 apartments commenced in 2022 by various construction companies in the Tokyo region. As per an expert panel of Japan's infrastructure ministry, the country's ministry padded up the construction orders made to domestic firms by up to JPY 5.1 trillion (USD 45.48 billion), which, in turn, may increase the demand for gypsum boards in the country.
  • In addition, South Korea is strengthening its position as the home for high-rise buildings, and there are many tall buildings under construction and in proposal phases, which may enhance the demand for the market studied.
  • All such ongoing and upcoming construction and renovation activities, coupled with the government's refocus on the infrastructure sector, are expected to increase the demand for gypsum boards in the region at a noteworthy rate over the forecast period.
Gypsum Board Market- Growth Rate by Region, 2022-2027

Gypsum Board Industry Overview

The global gypsum board market is consolidated at the top level with major players, such as Saint-Gobain, USGKnauf, and EtexGroup. These players occupy a significant share of more than 50% of the market. The market exhibits the presence of many players, such as Georgia-Pacific LLC, American Gypsum Company LLC, and other companies operating in the regional market.

Gypsum Board Market Leaders

  1. Saint Gobain

  2. Georgia-Pacific LLC

  3. USGKnauf

  4. Etex Group

  5. American Gypsum Company LLC

*Disclaimer: Major Players sorted in no particular order

Gypsum Board Market Concentration
bookmark Need More Details on Market Players and Competitors?
Download PDF

Gypsum Board Market News

  • October 2022: USGKnauf announced plans for the construction of a new gypsum wallboard plant in Huedin in Cluj County. The investment is expected to advance the Romanian government's 'energy savings offensive' by supporting a renovation drive for the country's housing stock.
  • July 2022: Holcim acquired Cantillana, a leading specialty building solutions provider based in Belgium, with 2022 estimated net sales of EUR 80 million (USD 93 million). This acquisition could strengthen Holcim's position in building renovation and energy efficiency solutions.
  • February 2022: Etex completed the major acquisition of Australia's top-three plasterboard players. This strategic milestone enables Etex to expand its footprint in the country's well-developed construction market. The contribution of Australia's newly acquired plasterboard business to Etex's revenue in 2021 accounted for EUR 124 million (USD 144.74 million).

Gypsum Board Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand From Residential Construction

      2. 4.1.2 Rising Repair Activities

    2. 4.2 Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Buyers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

  5. 5. MARKET SEGMENTATION (Market Size in Volume)

    1. 5.1 Type

      1. 5.1.1 Wall Board

      2. 5.1.2 Ceiling Board

      3. 5.1.3 Pre-decorated Board

    2. 5.2 Application

      1. 5.2.1 Residential Sector

      2. 5.2.2 Institutional Sector

      3. 5.2.3 Industrial Sector

      4. 5.2.4 Commercial Sector

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. 5.3.1.1 China

        2. 5.3.1.2 India

        3. 5.3.1.3 Japan

        4. 5.3.1.4 South Korea

        5. 5.3.1.5 Rest of Asia-Pacific

      2. 5.3.2 North America

        1. 5.3.2.1 United States

        2. 5.3.2.2 Canada

        3. 5.3.2.3 Mexico

      3. 5.3.3 Europe

        1. 5.3.3.1 Germany

        2. 5.3.3.2 United Kingdom

        3. 5.3.3.3 France

        4. 5.3.3.4 Italy

        5. 5.3.3.5 Rest of Europe

      4. 5.3.4 South America

        1. 5.3.4.1 Brazil

        2. 5.3.4.2 Argentina

        3. 5.3.4.3 Rest of South America

      5. 5.3.5 Middle East and Africa

        1. 5.3.5.1 Saudi Arabia

        2. 5.3.5.2 South Africa

        3. 5.3.5.3 Rest of Middle East and Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share (%) Analysis

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 American Gypsum Company LLC

      2. 6.4.2 Beijing New Building Material Public Limited Company (BNBM Group)

      3. 6.4.3 Etex Group

      4. 6.4.4 Everest Industries Limited

      5. 6.4.5 Georgia-Pacific LLC

      6. 6.4.6 Global Gypsum Board Co. LLC (Gypcore)

      7. 6.4.7 Holcim Ltd

      8. 6.4.8 Jason Plasterboard (Jiaxing) Co. Ltd

      9. 6.4.9 National Gypsum Services Company

      10. 6.4.10 Osman Group

      11. 6.4.11 PABCO Building Products LLC

      12. 6.4.12 Saint-Gobain

      13. 6.4.13 USGKnauf

      14. 6.4.14 VANS Gypsum

      15. 6.4.15 VOLMA

    5. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Future Investments in the Construction Sector

**Subject to Availability
bookmark You Can Purchase Parts Of This Report. Check Out Prices For Specific Sections
Get Price Break-up Now

Gypsum Board Industry Segmentation

Gypsum boards are made of a core of set gypsum, surfaced with specifically manufactured paper firmly bonded to the core. It is commonly referred to as drywall, plasterboard, and wallboard. Gypsum board is a widely used construction material for partitions and lining walls, roofs, ceilings, and floors. The gypsum board market is segmented by type, application, and geography. By type, the market is segmented into wallboard, ceiling board, and pre-decorated board. By application, the market is segmented into the residential, institutional, industrial, and commercial sectors. The report also covers the market size and forecasts for the gypsum board market in 15 countries across major regions. For each segment, the market sizing and forecasts have been done based on volume (million square meters).

Type
Wall Board
Ceiling Board
Pre-decorated Board
Application
Residential Sector
Institutional Sector
Industrial Sector
Commercial Sector
Geography
Asia-Pacific
China
India
Japan
South Korea
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East and Africa
Saudi Arabia
South Africa
Rest of Middle East and Africa
customize-icon Need A Different Region Or Segment?
Customize Now

Gypsum Board Market Research FAQs

The Gypsum Board Market size is expected to reach 16.01 billion square meters in 2024 and grow at a CAGR of 6.19% to reach 21.63 billion square meters by 2029.

In 2024, the Gypsum Board Market size is expected to reach 16.01 billion square meters.

Saint Gobain, Georgia-Pacific LLC, USGKnauf, Etex Group and American Gypsum Company LLC are the major companies operating in the Gypsum Board Market.

Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the North America accounts for the largest market share in Gypsum Board Market.

In 2023, the Gypsum Board Market size was estimated at 15.08 billion square meters. The report covers the Gypsum Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Gypsum Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Gypsum Board Industry Report

Statistics for the 2024 Gypsum Board market share, size and revenue growth rate, created by Mordor Intelligenceā„¢ Industry Reports. Gypsum Board analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

close-icon
80% of our clients seek made-to-order reports. How do you want us to tailor yours?

Please enter a valid email id!

Please enter a valid message!

Gypsum Board Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)