APAC Gypsum Board Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.29 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Gypsum Board Market Analysis
The Asia-Pacific Gypsum Board Market size is expected to grow from 15.06 billion square meters in 2023 to 20.42 billion Square Meters by 2028, at a CAGR of 6.29% during the forecast period (2023-2028).
The COVID-19 outbreak negatively impacted the market in 2020. With the COVID-19 pandemic's beginning, construction work stopped in the region, especially in major construction hubs like China and India. However, the market is projected to grow positively in the forecast period due to global construction sector growth.
- The primary factor driving the market studied is the increasing demand from the residential sector, owing to the new residential construction and repair activities in developing economies.
- On the flip side, the inability to perform in water is expected to hinder market growth.
- Increasing investment in the infrastructure sector is likely act as an opportunity during the forceast period.
- The residential segment dominated the market by application and is expected to continue doing so in the forecast period.
APAC Gypsum Board Market Trends
Increasing Investments in the Construction Sector in the Emerging Economies
- Residential properties such as apartments, bungalows, and villas are gaining popularity in emerging nations and are mainly driven by urbanization. Increasing government initiatives seem to be propelling the demand for affordable housing.
- Gypsum board is a covering material for interior walls and residential building ceilings. In addition, the product is used in building lightweight and durable walls. In addition, the gypsum market is driven by rising real estate costs, particularly the development of single-family homes and multistory apartments in emerging economies.
- The number of dwellings completed and sanctioned under the PMAY plan in India's metropolitan regions in 2022, according to the Federation of Indian Chambers of Commerce and Industry (FICCI), was roughly around 5.5 million and 11.4 million, respectively.
- According to Anarock, a well-known real estate service provider in India, more than 300,000 housing units will be sold in India in 2022, breaking the previous record in 2014 in terms of all-time high sales of houses in India's top seven cities. In the fourth quarter of 2022, house sales in the country climbed by roughly 16% compared to the fourth quarter of 2021.
- Moreover, the Indonesian government introduced the 'One Million Houses' (OMH) program to construct at least 1 million units annually. According to the Ministry of Public Works and Public Housing (PUPR), about 1,117,491 housing units were recorded until the end of 2022 under the One Million Houses program.
- The Ministry of Land, Infrastructure, Transport and Tourism (MLIT) of Japan also stated in its report that approximately 859.5 thousand housing starts were initiated in Japan in 2022, just 0.4% more than the previous year's value (856.48 thousand).
- All these housing expenditures and expansions create a significant demand for gypsum board in the region. Manufacturers have begun to respond to this requirement and take action. The regional market for gypsum board is expected to grow at a favorable rate in the countries in the Asia-Pacific region.
China to Dominate the Market
- China held much of the Asia-Pacific market share for the gypsum board market. The growing demand for housing will likely drive residential construction in the country, both in the public and private sectors. Moreover, the rising investments in the industrial and commercial segments of the construction industry are also expected to affect the market positively.
- China is experiencing massive growth in its construction sector. According to the National Bureau of Statistics of China, in the fourth quarter of 2022, the construction output in China was valued at approximately CNY 276 billion (USD 40 billion), a growth of roughly 50% compared with the previous quarter (USD 27.6 billion).
- Moreover, the value added in the Chinese construction industry in 2022 was estimated to be more than CNY 8,330 billion (USD 1.2 trillion), approximately 4% more than the previous year's value, as stated by the National Bureau of Statistics of China.
- Shining Building Business Co., a Taiwanese construction company, plans to launch new home projects totaling NTD 30 billion (USD 1.08 billion) in Taiwan and China in February 2022. Projects valued at NTD 10.8 billion (USD 0.39 billion) in Taiwan and NTD 19 million (USD 6.81 million) in Chengdu, China, were included in the plan.
- According to official figures, infrastructure investment in the country increased by 6.7% year on year in the first five months of 2022, and overall planned investment in newly initiated projects increased by 23.3% year on year during the period, according to a National Bureau of Statistics statement.
- All the factors mentioned above, in turn, are expected to drive the market for gypsum boards in the country during the forecast period.
APAC Gypsum Board Industry Overview
The Asia-Pacific gypsum board market is consolidated in nature. The major companies include China National Building Material Company Limited (CNBM), Saint-Gobain Gyproc, KCC CORPORATION, and Knauf Gips KG, among others (not in any particular order).
APAC Gypsum Board Market Leaders
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China National Building Material Company Limited (CNBM)
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KCC CORPORATION
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Knauf Gips KG
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Saint-Gobain Gyproc
*Disclaimer: Major Players sorted in no particular order
APAC Gypsum Board Market News
- The recent developments pertaining to the market studied are covered in the complete report.
APAC Gypsum Board Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
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4.1 Drivers
- 4.1.1 Increasing Investment in the Construction Sector in the Emerging Economies
- 4.1.2 Increasing Demand from Residential Sector
- 4.1.3 Other Drivers
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4.2 Restraints
- 4.2.1 Prone to Water Damage
- 4.2.2 Other Restraints
- 4.3 Industry Value Chain Analysis
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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
- 4.5 Price Analysis
5. MARKET SEGMENTATION (Market Size in Volume)
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5.1 Type
- 5.1.1 Wall Board
- 5.1.2 Ceiling Board
- 5.1.3 Pre-decorated Board
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5.2 Thickness
- 5.2.1 1/2-inch
- 5.2.2 5/8-inch
- 5.2.3 Other Thicknesses
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5.3 Application
- 5.3.1 Residential Sector
- 5.3.2 Institutional Sector
- 5.3.3 Industrial Sector
- 5.3.4 Commercial Sector
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5.4 Geography
- 5.4.1 China
- 5.4.2 India
- 5.4.3 Japan
- 5.4.4 South Korea
- 5.4.5 Thailand
- 5.4.6 Philippines
- 5.4.7 Vietnam
- 5.4.8 Indonesia
- 5.4.9 Malaysia
- 5.4.10 Australia and New Zealand
- 5.4.11 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
- 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
- 6.2 Market Share(%)**/ Ranking Analysis
- 6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
- 6.4.1 Beijing New Building Material (Group) Co., Ltd.
- 6.4.2 BGC (Australia) PTY Ltd
- 6.4.3 China National Building Material Company Limited (CNBM)
- 6.4.4 CHIYODA UTE CO.,LTD.
- 6.4.5 Georgia-Pacific Gypsum LLC
- 6.4.6 Jason Plasterboard (Jiaxing) Co. Ltd
- 6.4.7 KCC CORPORATION
- 6.4.8 Knauf Gips KG
- 6.4.9 Saint-Gobain Gyproc
- 6.4.10 VANS Gypsum
- 6.4.11 YOSHINO GYPSUM CO.,LTD.
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
- 7.1 Future Investment in the Construction Sector
- 7.2 Other Opportunities
APAC Gypsum Board Industry Segmentation
Gypsum boards are made of a set gypsum core, surfaced with specifically manufactured paper firmly bonded to the core. It is commonly referred to as drywall, plasterboard, and wallboard. Gypsum boards are widely used for partitions and linings of walls, roofs, ceilings, and floors. The Asia Pacific, Gypsum Board Market, is segmented by type, application, and geography. The market is segmented by type into wall, ceiling, and pre-decorated boards. By application, the market is segmented into residential, institutional, industrial, and commercial sectors. The report also covers the market size and forecasts for the construction chemicals market in 11 countries across the region. The market sizing and forecasts have been done for each segment based on volume (square meters).
| Type | Wall Board |
| Ceiling Board | |
| Pre-decorated Board | |
| Thickness | 1/2-inch |
| 5/8-inch | |
| Other Thicknesses | |
| Application | Residential Sector |
| Institutional Sector | |
| Industrial Sector | |
| Commercial Sector | |
| Geography | China |
| India | |
| Japan | |
| South Korea | |
| Thailand | |
| Philippines | |
| Vietnam | |
| Indonesia | |
| Malaysia | |
| Australia and New Zealand | |
| Rest of Asia-Pacific |
APAC Gypsum Board Market Research FAQs
What is the current Asia-Pacific Gypsum Board Market size?
The Asia-Pacific Gypsum Board Market is projected to register a CAGR of 6.29% during the forecast period (2024-2029)
Who are the key players in Asia-Pacific Gypsum Board Market?
China National Building Material Company Limited (CNBM), KCC CORPORATION, Knauf Gips KG and Saint-Gobain Gyproc are the major companies operating in the Asia-Pacific Gypsum Board Market.
What years does this Asia-Pacific Gypsum Board Market cover?
The report covers the Asia-Pacific Gypsum Board Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Gypsum Board Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
APAC Gypsum Board Industry Report
Statistics for the 2024 APAC Gypsum Board market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. APAC 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.
