Market Size of Gypsum Board Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 15.91 Billion square meters |
| Market Volume (2029) | 21.44 Billion square meters |
| CAGR (2024 - 2029) | 6.15 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Gypsum Board Market Analysis
The Gypsum Board Market size is estimated at 15.91 Billion square meters in 2024, and is expected to reach 21.44 Billion square meters by 2029, growing at a CAGR of 6.15% during the forecast period (2024-2029).
COVID-19 negatively impacted the gypsum board market. During the initial stages of the pandemic, many construction projects were delayed due to government-imposed lockdowns. Reduced construction activities led to lower demand for gypsum boards in residential, commercial, and infrastructure projects, impacting sales and revenues for manufacturers and distributors. However, as restrictions were lifted, there was a surge in construction and renovation projects, driving up demand for gypsum boards and related products.
- The significant factors that are driving the market's growth are the increasing demand for gypsum boards for residential construction and rising renovation and remodeling activities globally.
- However, fluctuations in the raw material prices are expected to hinder the growth of the market studied.
- Nevertheless, rapid urbanization, population growth, and future construction investments are expected to create lucrative growth opportunities for the gypsum board market during the forecast period.
- Asia-Pacific is expected to hold the most considerable market share over the forecast period.
Gypsum Board Industry Overview
Gypsum board, also known as drywall or plasterboard, is a building material composed of gypsum core sandwiched between paper facings. It is commonly used for interior wall and ceiling construction in residential, commercial, and institutional buildings. Gypsum boards are available in various thicknesses and sizes to suit different applications and construction requirements. They provide a smooth and durable surface for painting, wallpapering, or decorative finishes.
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 sizes and forecasts for the gypsum board market in 27 countries across major regions. For each segment, the market sizes and forecasts are provided in terms of volume (million square meters).
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| Wall Board | |
| Ceiling Board | |
| Pre-decorated Board |
| Application | |
| Residential Sector | |
| Institutional Sector | |
| Industrial Sector | |
| Commercial Sector |
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Gypsum Board Market Size Summary
The gypsum board market is poised for significant growth over the forecast period, driven by increasing demand in residential construction and repair activities globally. The market, which experienced a downturn due to the COVID-19 pandemic, has shown a robust recovery, with rising consumption across residential, commercial, and other sectors. Gypsum boards, known for their use as interior wall and ceiling coverings, are gaining traction due to their soundproofing and humidity-resistant properties. However, challenges such as susceptibility to water damage and environmental concerns related to landfill disposal are hindering market expansion. Despite these challenges, the anticipated growth in construction investments presents lucrative opportunities for key players in the global gypsum board market.
The demand for gypsum boards is expected to be bolstered by rapid urbanization and increasing real estate costs, particularly in emerging economies. Major cities in countries like China, India, and Brazil are experiencing significant housing demand, driven by urban migration and government investments in infrastructure and real estate. The construction industry in these regions is witnessing substantial growth, with initiatives aimed at increasing affordable housing and reducing construction waste. This trend is further supported by government policies and investments in infrastructure development, which are expected to enhance the demand for gypsum boards. The market is characterized by a consolidated structure, with major players like Saint-Gobain, USGKnauf, and Etex Group holding significant market shares, while ongoing strategic expansions and acquisitions continue to shape the competitive landscape.
Gypsum Board Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Increasing Demand From Residential Construction
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1.1.2 Rising Renovation and Remodeling Activities
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1.2 Restraints
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1.2.1 Fluctuating Raw Material Prices
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers
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1.4.3 Threat of New Entrants
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1.4.4 Threat of Substitute Products and Services
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION (Market Size in Volume)
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2.1 Type
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2.1.1 Wall Board
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2.1.2 Ceiling Board
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2.1.3 Pre-decorated Board
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2.2 Application
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2.2.1 Residential Sector
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2.2.2 Institutional Sector
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2.2.3 Industrial Sector
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2.2.4 Commercial Sector
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Thailand
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2.3.1.6 Malaysia
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2.3.1.7 Indonesia
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2.3.1.8 Vietnam
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2.3.1.9 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Spain
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2.3.3.6 Turkey
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2.3.3.7 Russia
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2.3.3.8 NORDIC
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2.3.3.9 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Colombia
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2.3.4.4 Rest of South America
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2.3.5 Middle East and Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 Nigeria
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2.3.5.3 Egypt
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2.3.5.4 Qatar
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2.3.5.5 South Africa
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2.3.5.6 UAE
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2.3.5.7 Rest of Middle East and Africa
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Gypsum Board Market Size FAQs
How big is the Gypsum Board Market?
The Gypsum Board Market size is expected to reach 15.91 billion square meters in 2024 and grow at a CAGR of 6.15% to reach 21.44 billion square meters by 2029.
What is the current Gypsum Board Market size?
In 2024, the Gypsum Board Market size is expected to reach 15.91 billion square meters.
