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Published Date : 17-May-2024 |
Pages: 59 |
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The United States (US) Gypsum Board Market size is expected to reach $17.7 Billion by 2030, rising at a market growth of 8.1% CAGR during the forecast period. In the year 2022, the market attained a volume of 8350.6 Million Units, experiencing a growth of 7.4% (2019-2022).
The gypsum board market in the United States has experienced significant growth over the past decade, driven by rapid urbanization, increasing construction activities, and the growing demand for affordable housing. One of the key drivers of the gypsum board market in the U.S. is the booming construction sector. With the increasing population and urbanization, there has been a surge in the country's residential, commercial, and industrial construction projects. Gypsum board is an essential building material for these projects, as it provides a smooth and uniform surface for painting or wallpapering, enhances sound insulation, and improves fire resistance.
In addition to new construction, the renovation and remodeling activities in the housing and commercial sectors have contributed to the growth of the gypsum board market in the U.S. As older structures are refurbished or upgraded to meet modern standards, gypsum board is often used to replace traditional plaster or other outdated wall materials due to its cost-effectiveness and ease of installation.
The COVID-19 pandemic in the U.S. has caused supply chain disruptions, labor shortages, and project delays, leading to a slowdown in construction activities across the country. Many construction projects were put on hold or canceled due to economic uncertainties and social distancing measures implemented to curb the spread of the virus. As a result, the demand for gypsum board experienced a temporary decline during the pandemic's peak. However, as the economy gradually recovers and vaccination efforts progress, the construction industry is expected to rebound, driving the demand for gypsum board again.
The construction industry in the United States has witnessed significant expansion, with the gypsum board market playing a pivotal role in this growth trajectory. One key driver of growth is the increasing demand for affordable and efficient housing solutions. With population growth and urbanization trends persisting, there has been a heightened need for residential and commercial structures. Gypsum boards offer a cost-effective solution for interior wall and ceiling finishes, facilitating rapid construction without compromising quality. This has led to a surge in the adoption of gypsum boards by builders and contractors nationwide.
Moreover, advancements in technology and manufacturing processes have enhanced the performance characteristics of gypsum boards, making them more durable, fire-resistant, and mold-resistant. These improvements have bolstered the confidence of construction professionals in using gypsum boards for various applications, further fueling industry expansion. The United States gypsum board market has experienced significant expansion, mirroring the growth in construction spending.
According to the U.S. Census Bureau, in November 2023, construction spending surged to a seasonally adjusted annual rate of $2,050.1 billion, marking a 0.4% increase from the revised October estimate of $2,042.5 billion. This growth reflects a significant 11.3% rise compared to November 2022, when construction spending stood at $1,842.2 billion. With construction spending rising, the gypsum board market is poised to experience heightened demand and opportunities for further development and innovation within the United States.
Additionally, sustainability considerations have propelled the popularity of gypsum boards in the U.S. construction industry. Gypsum is a naturally occurring mineral, and gypsum boards are highly recyclable, contributing to environmental sustainability efforts. As sustainability continues to be a focal point in the construction sector, the use of gypsum boards aligns with green building standards and initiatives, driving their adoption further. Hence, the gypsum board market in the United States has seen substantial growth driven by demand for affordable housing solutions, technological advancements, and sustainability considerations within the construction industry.
The gypsum board market in the United States has witnessed a significant surge in demand, primarily driven by the increasing emphasis on energy-efficient buildings. One of the key factors propelling the demand for energy-efficient gypsum board products is the growing awareness among architects, developers, and homeowners about the importance of constructing buildings that minimize energy waste. Energy-efficient gypsum boards, often called "green" or "eco-friendly" gypsum boards, are designed to enhance the thermal insulation properties of buildings, thereby reducing the need for heating and cooling systems.
Moreover, government initiatives and regulations promoting sustainable construction practices have been crucial in adopting energy-efficient building materials, including gypsum boards. In the U.S., programs such as the Energy Star certification and the Leadership in Energy and Environmental Design (LEED) rating system incentivize using energy-efficient materials and designs in building projects. In 2020 nearly 7,200 commercial buildings earned the ENERGY STAR, saving more than $1.8 billion and preventing nearly 4.9 million metric tons of greenhouse gas emissions in the U.S.
Furthermore, the increasing focus on indoor air quality and occupant comfort has led to a greater demand for gypsum boards that are low in volatile organic compounds (VOCs) and other harmful emissions. Energy-efficient gypsum boards in the U.S. often meet stringent indoor air quality standards, making them a preferred choice for projects where occupant health and well-being are paramount. Thus, the surge in demand for energy-efficient gypsum board in the United States is driven by the emphasis on sustainable construction and the growing prioritization of indoor air quality and occupant comfort.
The gypsum board market in the United States is a thriving sector driven by various companies contributing to its growth and development. One of the leading companies in the U.S. gypsum board market is USG Corporation. Founded in 1902, USG Corporation has established itself as a pioneer in building materials innovation. The company offers various gypsum board products under brands like Sheetrock and Securock. USG Corporation's commitment to sustainability and environmental stewardship has also positioned it as a preferred choice among environmentally conscious consumers and builders.
CertainTeed Corporation, a subsidiary of Saint-Gobain, is also a significant player in the U.S. gypsum board market. With a history dating back to the late 19th century, CertainTeed Corporation has become a trusted name in the building materials industry. The company offers a comprehensive range of gypsum board products known for their superior quality, performance, and durability. CertainTeed Corporation's commitment to innovation and sustainability underscores its position as an industry leader in the gypsum board market.
Another key player in the U.S. gypsum board market is the National Gypsum Company. With over 90 years of experience in the industry, National Gypsum Company is renowned for its high-quality gypsum board products and exceptional customer service. The company's diverse product portfolio includes gypsum wallboard, cement board, and related building materials, catering to the needs of both residential and commercial construction projects.
Georgia-Pacific LLC is another prominent player in the U.S. gypsum board market. As one of the largest manufacturers of gypsum products in North America, Georgia-Pacific LLC caters to a diverse customer base with its extensive product portfolio, which includes gypsum wallboard, joint compounds, and related accessories. The company's dedication to product excellence and customer satisfaction has solidified its reputation as a preferred supplier in the construction industry.
Additionally, Continental Building Products, Inc., formerly known as Lafarge North America, significantly contributes to the U.S. gypsum board market. With state-of-the-art manufacturing facilities and a focus on innovation, Continental Building Products, Inc. offers a wide range of gypsum board solutions designed to meet the needs of residential, commercial, and industrial construction projects. The company's commitment to sustainable practices and product excellence has positioned it as a trusted partner for builders and contractors nationwide. As the demand for gypsum board continues to rise with the growth of the construction industry, these companies are poised to remain key players in shaping the industry landscape for years to come.
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