The global Gypsum Board Market Growth Accelerated by Rapid Infrastructure Development

 

Gypsum board, also known as drywall or plasterboard, is a panel made of calcium sulfate dihydrate and used for interior wall and ceiling applications in residential and non-residential buildings. It provides an insulating and fireretardant substrate for interior partitioning and efficiently resists heat transmission. Gypsum board is widely used in construction due to its easy handling, installation, and finishing properties.

The global Gypsum Board Market is estimated to be valued at US$ 56.68 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The rapid growth of the construction industry is boosting the demand for gypsum board as it is the most preferred material for interior construction. Especially in emerging economies, the infrastructure development is growing at a fast pace which is creating massive opportunities for gypsum board manufacturers. Governments are investing heavily in constructing new commercial buildings, hospitals, schools, and developing transportation infrastructure which requires large volumes of gypsum boards. Thus, the rise in construction and infrastructure development activities is the key growth driver accelerating the demand in the gypsum board market.


Segment Analysis

The global gypsum board market is dominated by dry construction segment. Dry construction segment involves the installation of prefabricated or readymade wall, flooring and ceiling components or systems. This significantly reduces the construction time and provides robust construction compared to conventional methods. Its versatility and ease of installation has made it very popular in commercial construction for partitions, false ceilings and other interior construction activities. Moreover, it provides an aesthetically appealing look and is affordable. This has propelled the demand for dry construction materials like gypsum boards compared to other building materials. Rising commercial construction is further driving this segment.

Key Takeaways

The global gypsum board market is expected to witness high growth over the forecast period of 2023 to 2030 supported by rapid infrastructure development and urbanization. The global Gypsum Board Market is estimated to be valued at US$ 56.68 Bn in 2024 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030.

Regional analysis:
The Asia Pacific region currently dominates the global gypsum board market led by China, India and other developing nations. Rising construction activities due to increasing population, rapid urbanization and improving economic conditions in the region is propelling the gypsum board demand. Further, supportive government policies and investments in infrastructure development provide significant opportunities.

Key players:
Key players operating in the gypsum board market are Saint-Gobain, United Mining Industries, Taishan Gypsum Co., Ltd., Knauf, Baier Group, Yoshino Gypsum Co., Ltd., Gulf Gypsum Board, Gypsemna, Georgia-Pacific Gypsum LLC, and Arcat, Inc., among others. Leading players are focusing on expanding their production capacities and geographical reach through acquisitions and partnerships to strengthen their market position.

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