The global gypsum board market size is anticipated to reach USD 100.73 billion by 2027, according to a new report by Grand View Research Inc. It is expected to exhibit a CAGR of 11.9% in terms of revenue, during the forecast period. Increasing utilization of gypsum boards in decorative and partitioning applications in residential constructions is anticipated to drive the market.
Rise in the construction industry is likely to provide growth opportunities to the market players. The demand for gypsum boards is driven by the residential sector, where the product is widely used in multi-family constructions for room partitioning. Durability and lightweight coupled with easy handling of the product are some of the factors anticipated to propel the demand.
Product availability in the form of wallboards, ceiling boards, and pre-decorated boards are the factors positively influencing the popularity of gypsum boards in construction applications. These boards are accepted in commercial, institutional, and industrial facilities for impact and 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. A major proportion of the gypsum used in the wallboard production in FGS gypsum with low environmental impact and reduced mining operations to extract gypsum.
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Further key findings from the report suggest:
Gypsum wallboard is anticipated to expand at a CAGR of 11.6% over the projected period owing to wide utilization of the product in partitioning and decorative application majorly in multi-family residential constructions
In 2019, residential application held the dominant market share of 47.2% and is likely to ascend at the highest CAGR over the forecast period on account of rising need for the construction of multi-family houses in Asia Pacific and North America
In North America, the revenue for gypsum ceiling board stood at USD 3.85 billion in 2019 and is expected to witness growth over the forecast period, owing to its wide acceptance in the ceiling and decorative applications
The U.S. gypsum board market is expected to realize gains at a CAGR of 10.6% from 2020 to 2027 due to presence of a well-established construction industry and acceptance of enhancing construction materials
Saint-Gobain accounted for the major market share in the past with gypsum solutions offered under brands, such as Certainteed, British Gypsum, Gyproc, Rigips, and Placo
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, 2016 - 2027)
Gypsum Board Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
Pre-Engineered Metal Buildings
Gypsum Board Regional Outlook (Volume, Million Square Meters; Revenue, USD Million, 2016 - 2027)
Central & South America
Middle East & Africa
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