Gypsum Board Market To Hit Value 9.95 Billion By 2028

Posted by Mrudula Karmarkar on March 14th, 2022

The global gypsum board market size is expected to reach USD 109.95 billion by 2028 registering a CAGR of 11.8%, according to a new report by Grand View Research Inc. Increasing utilization of gypsum boards in decorative and partitioning applications in residential constructions is anticipated to drive the market over the forecast period. Rise in the construction industry across the globe is likely to provide growth opportunities to the market. The product demand is also driven by the residential sector, wherein, it is widely used for room partitioning.

These products are available in the form of wallboards, ceiling boards, pre-decorated boards, etc., which also boosts their demand in the construction application. Moreover, high durability and low weight of the product coupled with easy handling measures have propelled its demand in commercial, institutional, and industrial facilities for impact & mold resistance, exterior sheathing, and shaft wall constructions. Moreover, the availability of decorative designs on the boards is likely to support the growth over the forecast period. The U.S. Environmental Protection Agency (EPA) has approved the use of Flue Gas Desulphurization (FGD) Gypsum as a substitute to mined gypsum for the production of wallboards.

Growing demand from the residential construction sector coupled with increasing consumer spending on advanced construction materials is expected to drive the product demand. The rapidly growing construction industry across the major economies, such as China, India, Brazil, Mexico, South Africa, and Russia, is expected to support the market growth. Moreover, the rising scope of innovative applications in the construction sector is likely to boost product demand. In the U.S., the market stood at USD 13.57 billion in 2020 and is anticipated to grow at a considerable CAGR over the forecast period.

To Request Sample Copy of this report, click the link:

https://www.grandviewresearch.com/industry-analysis/gypsum-board-market/request/rs1

Gypsum Board Market Report Highlights

• The wallboard segment led the global market in 2020 and will expand at a steady CAGR over the projected period owing to the wide utilization of wallboards in partitioning and decorative applications, majorly in multi-family residential constructions
• In 2020, the residential application segment dominated the global market with a share of over 47% and is projected to ascend at the fastest CAGR over the forecast period
• The residential application segment growth can be attributed to the rising need for the construction of multi-family houses in regions, such as Asia Pacific and North America
• North America accounted for the largest market share of over 42% in 2020 on account of the well-established construction industry and quick adoption of advanced construction materials
• Saint-Gobain was the leading market player with gypsum solutions offered under brands, such as CertainTeed, British Gypsum, Gyproc, Rigips, and Placo

List of Key Players of Gypsum Board Market

• Saint-Gobain Gyproc
• Knauf Gips KG
• Gulf Gypsum Co.
• USG Corp.
• National Gypsum Company
• LafargeHolcim Ltd.
• Georgia-Pacific LLC