|Fastest Growing Market:||Asia Pacific|
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The gypsum board market was valued at over 8200 million square meters in 2021, and the market is projected to register a CAGR of more than 7% during the forecast period (2022-2027).
Gypsum board is commonly known as drywall. It is a premium building material for wall, ceiling, and partitionsystems for residential, commercial, and instituitional structures. The product exhibits properties such as fire resistance, moisture resistance., sound-proof and non-combustible.
- Growing product demand from the residential construction sector coupled with increasing consumer spending on advanced construction materials is expected to drive the product demand.
- The versatility and ease in operations offered by the gypsum board is projected to benefit the product demand, thereby benefiting the market growth.
- Growing construction projects in China and India is projected to fuel the product demand over the forecast period.
Scope of the Report
Gypsum board (drywall or plasterboard) is the technical product name used for a specific board with a gypsum core and a paper facing. The gypsum board market is segmented by type, application, and geography. By type, the market is segmented into wall board, ceiling board, and pre-decorated board. By application, the market is segmented into the residential sector, institutional sector, industrial sector, and commercial sector. 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 on the basis of volume (million square meters).
Key Market Trends
Increasing Product Demand from Residential Sector
- Gypsum board is used as a covering material for interior walls and ceilings in the residential buildings. In addition, the product is used in building lighweight and durable walls.
- The low cost and lesser construction time required are factors benefiting the demand for these boards in the residential sector.
- Residential properties such as apartments, bungalows, and villas are gaining popularity in emerging nations and is mainly driven by urbanisation.
- Major cities in economies including China, India, Brazil, Argentina, and others are expanding and require additional housing to accommodate people migrating from various regions of the country.
- Increasing government initiatives propeling the demand for affordable housing stimulate market expansion.
- For instance, in the third quarter of 2021, new housing supply stood at approximately 65,211 units, increased by 228% year-on-year across the top eight cities compared with around 19,865 units launched in the third quarter of 2020.
- In addition, the rising household income levels, combined with the population migrating from rural to urban areas, are expected to continue to drive the demand for the residential construction sector in China. The increased focus on affordable housing by both the public and private sectors is driving the growth in the residential construction sector in the country.
- Such trends are projected to augment the residential sector, thereby benefiting the demand for gypsum board market over the forecast period.
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Expansion of Construction Sector in the Asia-Pacific Region
- The Asia-Pacific region dominated the global market share. Rising residential, commercial and other construction activities in the region is projected to benefit the product demand.
- Increasing spending power combined with the population migrating from rural to urban areas, are expected to continue to drive the demand for the residential construction sector in China.
- In addition, the country has the largest construction market in the world, encompassing 20% of all construction investments globally. China is expected to spend nearly USD 13 trillion on buildings by 2030, creating a positive market outlook for gypsum board market.
- Various policies implemented by the Indian government, such as Smart Cities project, Housing for all by 2022, etc., are expected to bring the needed impetus to the slowing construction industry. Moreover, recent policy reforms, such as the Real Estate Act, GST, REITs, etc., are expected to reduce approval delays and strengthen the construction sector over the next few years.
- Moreover, the Indian government has been actively boosting housing construction, as it aims to provide a home to about 1.3 billion people. The country is likely to witness around USD 1.3 trillion of investment in housing over the next seven years and is likely to witness the construction of 60 million new homes in the country.
- Thus the expansion of construction sector in the Asia-Pacific region is anticipated to benefit the demand for gypsum board over the forecast period.
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The gypsum board market is highly fragmented with a large number of players in the market. The major companies include Saint-Gobain, Georgia-Pacific, Continental Building Products, BNBM group, and Knauf Gips KG, among others.
- In September 2021, American Gypsum, a manufacturer, seller, and distributor of gypsum wallboard products in the United States has secured approval for its wallboard plant from Eagle County for a 99.2-acre expansion of its 830-acre mine — representing a 25-year materials reserve for the Gypsum-based company. This is likely to benefot the company to build a stronger market position.
Table of Contents
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1.1 Increasing Product Demand from Residential Sector
4.1.2 Repair Activities across Developed Nations
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1.1 Wall Board
5.1.2 Ceiling Board
5.1.3 Pre-decorated Board
5.2.1 Residential Sector
5.2.2 Institutional Sector
5.2.3 Industrial Sector
5.2.4 Commercial Sector
22.214.171.124 South Korea
126.96.36.199 Rest of Asia-Pacific
5.3.2 North America
188.8.131.52 United States
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
5.3.4 South America
18.104.22.168 Rest of South America
5.3.5 Middle-East and Africa
22.214.171.124 Saudi Arabia
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
*List Not Exhaustive
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share /Ranking Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 American Gypsum
6.4.2 Beijing New Building Material Public Limited Company (BNBM Group)
6.4.3 Chiyoda Ute Co. Ltd
6.4.4 Continental Building Products
6.4.5 Everest Industries Limited
6.4.6 Georgia-Pacific LLC
6.4.7 Global Gypsum Board Co. LLC (Gypcore)
6.4.8 Jason Plasterboard (Jiaxing) Co. Ltd
6.4.9 PABCO Building Products LLC
6.4.11 Osman Group
6.4.13 USG Boral
6.4.14 Knauf Gips KG
6.4.15 VANS Gypsum
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Rising Product Demand to Upgrade the Interiors of Commercial and Residential Buildings
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Frequently Asked Questions
What is the study period of this market?
The Gypsum Board Market market is studied from 2017 - 2027.
What is the growth rate of Gypsum Board Market?
The Gypsum Board Market is growing at a CAGR of >7% over the next 5 years.
Which region has highest growth rate in Gypsum Board Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Gypsum Board Market?
Asia-Pacific holds highest share in 2021.
Who are the key players in Gypsum Board Market?
Saint Gobain, Georgia-Pacific LLC, Continental Building Products, BNBM Group, Knauf Gips KG are the major companies operating in Gypsum Board Market.