“Global Gypsum Board Market to reach a market value of USD 98.7 Billion by 2030 growing at a CAGR of 9.6%”
The Global Gypsum Board Market size is expected to reach $98.7 billion by 2030, rising at a market growth of 9.6% CAGR during the forecast period. In the year 2022, the market attained a volume of 44129.6 million units (PER SQ FT), experiencing a growth of 8.7% (2019-2022).
Gypsum boards are often used for ceiling finishes in pre-engineered metal buildings. They contribute to creating a clean and finished appearance while allowing for integrating lighting fixtures, HVAC systems, and other utilities within the ceiling structure. Consequently, the pre-engineered metal buildings segment would generate approximately 7.33% share of the market by 2030. Using gypsum boards in pre-engineered metal buildings contributes to quick construction timelines. Gypsum boards are easy to install, and their lightweight nature allows for efficient and rapid construction, helping to meet project deadlines.
Urbanization leads to a surge in construction activities to accommodate the growing population in urban areas. Versatile and cost-effective, gypsum boards are extensively used for interior applications like walls, ceilings, and partitions in residential and commercial construction projects. Urbanization is accompanied by expanding commercial and industrial spaces to accommodate businesses and economic activities. Therefore, the market is expanding significantly due to the increasing urbanization and population growth. Moreover, Online distribution offers convenience for buyers, including contractors, builders, and individuals involved in construction projects. Customers can procure gypsum boards from the convenience of their homes or workplaces via e-commerce platforms, thereby eradicating the need for physical visits to suppliers. The Type-X board considered for the market estimation in this report is more in demand owing to its promising fire resistant properties. E-commerce streamlines the procurement process for gypsum boards. Thus, because of the growing e-commerce and online distribution, the market is anticipated to increase significantly.
However, Gypsum boards are primarily manufactured using gypsum, a natural mineral. The price fluctuations of raw materials, particularly gypsum, directly impact businesses’ production costs. Sharp and unpredictable increases in raw material prices can lead to higher manufacturing expenses, impacting profit margins for gypsum board producers. The uncertainty associated with volatile raw material prices creates challenges for manufacturers regarding cost predictability. Thus, volatility in raw material prices can slow down the growth of the market.
By product, the market is categorized into wallboard, ceiling board, pre-decorated board, and others. In 2022, the wallboard segment held the highest revenue share in the market. The wallboard is a key component in creating false ceilings or drops ceilings. These ceilings not only conceal structural elements but also allow for incorporating design elements and services. False ceilings enhance the overall aesthetics of space while providing practical benefits such as soundproofing and improved acoustics. The primary and most common use of wallboard is in constructing interior walls. The report has considered the fire-resistant Type-X boards for the estimation of the market. As the new installations of gypsum board requires the board to be extra fire-resistant, Type-X boards come with these features additional known for its finishing and asthetics appeal. Gypsum boards provide a smooth and even surface, serving as an excellent substrate for paint or other decorative finishes. They provide a quick and cost-effective solution for creating partition walls in residential, commercial, and industrial buildings.
Based on application, the market is classified into pre-engineered metal buildings, residential, industrial, commercial, and institutional. The industrial segment acquired a substantial revenue share in the market in 2022. In industrial facilities that incorporate office spaces or administrative areas, gypsum boards provide flexibility in design. They can be used to construct interior walls, ceilings, and other elements that create a functional and aesthetically pleasing work environment. Gypsum boards contribute to energy efficiency when used in industrial construction. They provide thermal insulation that helps regulate indoor temperatures, contributing to energy savings in climate-controlled industrial facilities.
Free Valuable Insights: Global Gypsum Board Market size to reach USD 98.7 Billion by 2030
Region-wise, the market is analysed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the North America region acquired a significant revenue share in the market. Increasing renovation and remodeling activities across North America contribute to the demand for gypsum boards. The growth of commercial and industrial sectors in North America has led to an increased demand for gypsum boards. The emphasis on sustainable and green building practices in North America has led to adopting gypsum boards with environmentally friendly attributes. As North American building codes emphasize fire-resistant materials, gypsum boards are widely used to create fire-rated assemblies in walls and ceilings.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 47 Billion |
| Market size forecast in 2030 | USD 98.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 9.6% from 2023 to 2030 |
| Number of Pages | 285 |
| Number of Tables | 570 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Product, Application, Region |
| Country scope |
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| Companies Included | Saint-Gobain Group, Knauf Gips KG (Gebr. Knauf KG), Gypsemna Co., LLC., Global Mining Company LLC (GMC), National Gypsum Company, Beijing New Building Materials Public Limited Company, Etex NV, United Mining Industries Limited (UMI), Ahmed Yousef & Hassan Abdulla Co. (AYHACO GROUP), Yoshino Gypsum Co., Ltd. |
By Application (Volume, Million Units (PER SQ FT), USD Billion, 2019-2030)
By Product (Volume, Million Units (PER SQ FT), USD Billion, 2019-2030)
By Geography (Volume, Million Units (PER SQ FT), USD Billion, 2019-2030)
This Market size is expected to reach $98.7 billion by 2030.
Increasing urbanization and population growth are driving the Market in coming years, however, Volatility in raw material prices restraints the growth of the Market.
Saint-Gobain Group, Knauf Gips KG (Gebr. Knauf KG), Gypsemna Co., LLC., Global Mining Company LLC (GMC), National Gypsum Company, Beijing New Building Materials Public Limited Company, Etex NV, United Mining Industries Limited (UMI), Ahmed Yousef & Hassan Abdulla Co. (AYHACO GROUP), Yoshino Gypsum Co., Ltd.
In the year 2022, the market attained a volume of 44129.6 million units (PER SQ FT), experiencing a growth of 8.7% (2019-2022).
The Residential segment is leading the Market, by Application in 2022 there by, achieving a market value of $44 Billion by 2030.
The Asia Pacific region dominated the Market, by Region in 2022 there by, achieving a market value of $44.1 Billion by 2030, growing at a CAGR of 9.9 % during the forecast period.
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