Global Gypsum Market: Demand Analysis and Growth Forecast
Gypsum board is also known as drywall, plasterboard, and wallboard; and it is used in the construction industry as a building material owing to its robust fire-resistant traits. Gypsum board market is gaining traction from the construction industry wherein safety measures are gaining demand. This demand also resonates with a recent business publication by IndustryARC, which estimates the global gypsum board market at around $22 billion in 2018, and projects the demand to increment at a CAGR of around 6% during the forecast period of 2019 to 2025. The report is titled “Gypsum Board Market: By Type (Gypsum Wall Board, Gypsum Ceiling Board, Decorative Boards); By Installation (Purpose, Methods, Tools); By Application (Residential, Commercial Industrial Buildings); By Geography – Forecast (2019-2025).”
Increasing demand for gypsum board is due to its versatility as a building material. According to the Gypsum Association, gypsum panel is produced more than 25 billion square-foot each year in the United States and Canada. In the United States, more than 97% of the structures that are constructed require a gypsum board. Owing to the developing construction industry, it has led to a huge contribution to the economy which has eventually marshaled the gypsum board markets growth. The economic impact of even a single gypsum board plant is incredibly high.
Browse through 160 slides and an in-depth TOC “Gypsum Board Market (2019 - 2025)”
Global Gypsum Board Market: Leading Segment
Owing to the recent developments in the gypsum board market, APAC has been observing magnificent growth as compared to other regions. The regional share of the APAC was more than 35% in 2018. China is the fastest growing economy in APAC and gypsum board market adds up to the stroking economic conditions of the country. The construction industry is widely expanding due to which the gypsum boards have sustained a strong hold in the market. The anticipated application CAGR of the residential construction industry is estimated to be around 6% during the forecast period of 2019 to 2025 by the market analyst.
Global Gypsum Board Market: Disruptive Trends and Driving Factors
Gypsum board has become a basic necessity of the people, it is cost-efficient and easy to install building material. These things have risen its demand in the market and has set up a few trends which are listed below:
- Growing Multi-Family Buildings in Residential Construction
Gypsum board is a cost-effective and fire-resistant product with better surface durability and extended wearability in terms of performance. The demand for multi-family buildings is stroking rapidly in the developing countries such as the United States, Canada, and China. The gypsum boards are best in sound attenuation for a multi-family building and has the longest durability.
- Gypsum Board a Substitute for Soil and Fertilizers
Gypsum boards are vulnerable to moisture, and so, it needs constant replacement. This is a major aspect that can dwarf the gypsum board market size. Hence, the manufacturers have introduced non-paper-faced gypsum boards that are more reliable. Also, VOC drywalls actively removes poisonous gas from the air and converts them into fresh and safe for breathing. This can also be added to soil and fertilizers as a substitute for agriculture gypsum. VOC drywalls are poised to bring upon a revolution in the gypsum board market.
Global Gypsum Board Market: Competitive Landscape
Some of the major players in the gypsum board market are Lafarge, Saint-Gobain Gyproc, Global Mining Company LLC, and BPB India Gypsum.
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