Global gypsum board market size is estimated to witness an appreciable CAGR between 2022 and 2028. This growth is mainly attributed to the extensive product usage in drywall construction purposes, especially where there is elimination of plaster. Materials available on the market have one surface covered with heat-reflecting type of foil and another surface covered with aluminum. Furthermore, these products come in imitations of wood grain or different patterns on the exterior surface of the wall and, therefore, there is no requirement of extra decoration.
Based on product type, the market is fragmented into ceiling board, wall board, and pre-decorated board. The gypsum wallboard segment is set to foresee remarkable expansion through 2028 owing to increased product deployment in residential and commercial buildings. The segmental growth is due to multiple benefits such as easier installations, light weight nature, and optimization of both logistical and raw material costs. In addition, gypsum wallboards help in reducing energy consumption in the process of transportation and decrease building weight.
On the basis of end-use, the gypsum board market is anticipated to register considerable growth from residential application over the estimated period. The material is used in construction works including false ceilings, suspended ceilings, and partition walls. On account of its decorative appearance, the products have high applicability across the residential sector. Gypsum board materials are durable and provide sound and heat installation.
Considering the regional landscape, North America gypsum board market share is projected to record substantial expansion through 2028 driven by the extensive product usage across residential and commercial construction projects in the region. As per data from the Gypsum Association, which is the North American industry trade association of gypsum manufacturers, an average home in the U.S. makes use of nearly 200 sheets of 4-by-12-foot board for ceilings and walls.
Major players across the gypsum board industry include Taishan Gypsum Certainteed, National Gypsum, American Gypsum, Pabco Gypsum, Etex Group, Knauf Dubai, Gulf Gypsum, Lafarge, Georgia Pacific, and others. These companies are focusing on the adoption of a range of expansion strategies such as acquisitions, mergers, partnership agreements, and research and development activities for consolidating their position and expanding their geographical footprint.
Some instances of the same are as follows:
The SARS-CoV-2 pandemic has led to shortages in raw materials and labor, further resulting in high prices of gypsum boards across various regions. The trend has been particularly observed in 2021. However, several industry players have come up with the establishment of specialized infrastructure even during the pandemic period.
One such instance is Saint Gobain India, which in August 2020, established a new 600-bed hospital in 17 days for the purpose of treating patients suffering from coronavirus. The company deployed specialized gypsum plasterboard-based drywall manufactured from natural gypsum rock.