Synthetic Gypsum Market Analysis by Type (FGD Gypsum, Flurogypsum, Phosphosypsum, Citrogypsum), by Application (Drywall, Cement, Soil Amendment), by Region
The global gypsum board market is forecasted to reach a valuation of US$ 181 billion by the end of 2033. Global demand for gypsum boards is estimated to increase at an exceptional CAGR of 12.3% from 2023 to 2033. Rising requirements from residential and commercial sectors in construction activities are projected to generate lucrative opportunities in for market players.
Demand for gypsum boards is forecasted to rise because of the increasing population along with refugee issues across various countries, which is leading to rising construction activities. Significant growth in the construction industry and growing demand for single-family and multi-family house construction in emerging economies are forecasted to augment demand for gypsum boards over the coming 10 years.
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Gypsum boards generally refer to lightweight construction material that is used as a finish material for ceilings, walls, and partitions in exteriors or interiors of residential as well as non-residential structures. They are also addressed as plasterboard, wallboard, or drywall. They can be attached directly to metal and wood framings by adhesives, nails, or screws.
There have been significant improvements and innovations in the structure of buildings, in recent years. The rising consumer demand for innovative designs and textures on surfaces is predicted to stimulate demand for gypsum boards in high-end construction projects. Gypsum boards are widely used in houses for exterior sheathing, walls, membranes, dire resistance, and ceilings. Owing to the lesser construction time and low costs of gypsum boards, there is a higher demand in the residential sector.
There are a few restraints that are predicted to create obstacles against the adoption of gypsum boards. Extreme exposure to moisture along with rising temperatures can create difficulties in the gypsum board installation procedure in certain areas, including bathrooms and kitchens due to the deterioration of products. Moreover, constant fluctuations in the prices of raw materials because of increased import traffic are also predicted to create challenges for industry players over the coming decade.
Rapid urbanization Surges the Market of Gypsum Board
The construction market is at its peak point. It is creating several opportunities for suppliers of gypsum boards. Governments from developing countries are increasing their spending on infrastructural developments. Rapid urbanization and the growing residential sector are anticipated to drive growth opportunities in the target market.
Increasing popularity of aesthetic improvements in the structure of buildings is estimated to lead to innovative textures and designs, which are predicted to influence sales of gypsum boards. Rising government spending in real estate, growing requirements for high-end residential homes, urban migration, and high-end construction applications are estimated to positively impact sales of gypsum boards.
Key Takeaways from Market Study
Winning Strategy
Key industry players are entering into mergers and acquisitions to expand their footprints.
For instance,
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Competitive Landscape
Some prominent producers of gypsum boards are increasing their expenditure on different types of promotional activities and strengthening their supply chain management systems. Effective channels for product supply ensure the quick and safe delivery of gypsum boards. Certain regulations are also imposed to minimize adverse environmental impacts.
New development, acquisitions, and other strategies are adopted by key players to get a competitive edge in the global market.
For instance :
Key manufacturers of gypsum boards are Gypsemna, USG Zawawi Drywall LLC SFZ, National Gypsum Company, Yoshino Gypsum Co. Ltd., Extex Group, Lafarge Group, Knauf, and Ahmed Yousef & Hassan Abdulla Co. (AYHACO).
Industry Research
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the gypsum board market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on product (wallboards, pre-decorated, ceilings, others) and application (pre-engineered metal buildings, commercial, residential, industrial, institutional), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
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Jun 26, 2023