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A04115 | Pages: 300 | Charts: 53 | Tables: 109 |
The global gypsum & drywall market was valued at $29.3 billion in 2022, and is projected to reach $51.9 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032. Drywall is mostly utilized as a finishing material for creating interiors. Drywall is also known as gypsum board or plasterboard. Gypsum plaster is the substance used to manufacture drywall, which has fiberglass matting on the sides.
[COVIDIMPACTSTATEMENT]
Dry wall has become the preferred standard for internal wall finishing in new houses and those undergoing renovations. Gypsum is a naturally occurring mineral that is also known as hydrated calcium sulphate. Gypsum is primarily utilized as a raw material for a variety of products, including drywall. It is particularly valuable in the building sector as it is a naturally fire-resistant mineral.
Gypsum board’s advantages, such as time-saving and cost-effective building construction method, as well as a labor-saving alternative, are expected to boost its growth and establish it as a valuable asset in the expanding construction industry. The use of gypsum board offers efficient solutions for modern construction needs, making it an attractive choice for builders and developers looking to optimize resources and streamline construction processes. As the demand for sustainable and practical building materials increases, the gypsum board industry is well-positioned to capitalize on these opportunities and play a crucial role in shaping the future of construction practices.. Rising demand for enhanced infrastructure at an affordable price is expected to boost the gypsum & drywall market growth. Furthermore, increase in construction activities are driving demand for drywall and gypsum board. Gypsum board is a popular building material because of its properties such as fire resistance, acoustic attenuation, and durability. It is generally utilized as the surface layer of interior walls and ceilings, a foundation for ceramic, plastic, and metal tiles, external soffits, elevator & other shaft enclosures, area-separation walls between building units, and to protect structural elements from fire. All these factors are projected to drive the gypsum & drywall market forecast period.
Gypsum frequently needs further processing before use, whether it is natural, synthetic, or recycled. Gypsum must also undergo testing on an individual basis to ensure high-quality outcomes. It demands strong tools and durable parts owing to its abrasive nature. It also has issues with dust and clumping when making pelletized and powdered gypsum. It can naturally solidify and lump together into a cement-like structure, making it challenging to remove the substance from processing machinery. This may lead to build-up problems that lead to the deterioration of moving parts and maintenance difficulties for processing equipment. It may also clump up while drying or storing due to its potential to harden. Gypsum is a mineral that can contain impurities and variations in its chemical composition, which can impact the quality and characteristics of the final product. Therefore, these challenges in gypsum processing are predicted to hamper market expansion during the forecast period.
Ongoing R&D efforts in the drywall and gypsum board industry are driving remarkable technological advancements, presenting promising opportunities for market growth. Manufacturers are making substantial investments in innovations to meet evolving consumer demands and address the challenges posed by the construction sector. One significant area of focus is the development of lightweight boards, which offer easier handling and installation, reducing labor costs and facilitating faster construction timelines. These boards also contribute to reducing transportation expenses, making them more cost-effective and environmentally friendly. Furthermore, advancements in improving isolation properties provide enhanced soundproofing and thermal insulation capabilities. As the demand for energy-efficient and acoustically comfortable spaces rises, these improved boards offer competitive advantages in meeting green building standards and regulations, further boosting market growth. For instance, in March 2021, National Gypsum Company launched a multi-website portal that provides an unparalleled customer experience for designers, contractors, interior designers, distributors, property owners, and other visitors. National Gypsum Company is the exclusive provider of durable, high-performance construction products made by its subsidiaries and marketed under the Gold Bond, PermaBASE, and ProForm.
The key players profiled in this report include Saint-Gobain, USG Corporation., TECNI-GYPSUM, NATIONAL GYPPSUM (NGC), Knauf Gips KG, GYPLAC SA, BEIJING NEW BUILDINGS MATERIAL (GROUP) CO. LTD., American Gypsum Company LLC, Lafarge Group, and Global Mining Company LLC (GMC). Investment and agreement are common strategies followed by major market players. For instance, in July 2022, Holcim acquired Cantillana, a major specialty building solutions company located in Belgium, for an expected net sales of $93 million (EUR 80 million). This acquisition is expected to boost Holcim's position in building refurbishment and energy efficiency solutions.
The gypsum & drywall market overview is segmented on the basis of product, end user, thickness, and region. By product, the market is divided into wallboard, ceiling board, pre-decorated board, and others. By end user, the market is classified into commercial and residential. By thickness, the market is classified into 1/2 inch, 5/8 inch, and more than 5/8 inch. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The gypsum & drywall market outlook is segmented into PRODUCT, END-USER and Thickness.
[PRODUCTGRAPH]
By product, the wallboard sub-segment dominated the market in 2022. Wallboards have been the most popular product category due to their general acceptance as an alternative to plaster. Rising demand for environmentally friendly building is expected to increase product demand in the upcoming years. Furthermore, the product's continuing innovation is expected to increase its acceptance in high-end building applications. These boards are often utilized in commercial applications as they provide superior surface durability and color retention while providing flexibility in changing workspace designs. Other gypsum-based products like sheathing, plaster foundation, and lath are becoming more popular in the market due to their ability to improve the architectural design and aesthetics of building structures. Plaster-based panels include a unique gypsum core and a multi-layered laminated face paper that provides a strong plaster bond, sag resistance, rapid installation, and water absorption management. These are predicted to be the major factors boosting the gypsum & drywall market size during the forecast period.
[ENDUSERGRAPH]
By end user, the residential sub-segment dominated the global gypsum & drywall market share in 2022. The residential industry is a major segment in the gypsum and drywall business due to increase in demand for sustainable and energy-efficient construction materials. Gypsum and drywall materials, with their ecologically favorable qualities and high thermal insulation, attract to the rising trend of eco-friendly construction practices. Homeowners desire long-lasting, mold-resistant, and fire-resistant solutions, making gypsum boards and drywall an excellent choice for constructing safe and attractive interior spaces. Furthermore, the simplicity of installation and smooth finishing choices provided by these materials appeal to both homeowners and professionals, accelerating construction activities and reducing project schedules. As urbanization and residential construction continues to grow, the residential segment remains a critical driver for the gypsum & drywall industry, with a focus on offering creative, cost-effective, and sustainable solutions for modern living spaces.
[THICKNESSGRAPH]
By thickness, the 1/2 inch sub-segment dominated the global gypsum & drywall market share in 2022. Gypsum and drywall with a thickness of 1/2 inch is important in the construction sector due to its adaptability and affordability. This intermediate thickness achieves a balance between structural stability and ease of installation making it a common option for many residential and commercial applications. Gypsum and drywall that are 1/2 inch thick are extremely fire resistant and create a safer interior environment. Its smooth finishing qualities make quick modification and painting possible. Furthermore, the material's soundproofing and thermal insulation properties lead to improved building comfort and energy efficiency. As construction activities continue to expand, the need for 1/2 inch gypsum and drywall remains high, making it an essential element for architects, builders, and developers, further driving gypsum & drywall market opportunity.
[REGIONGRAPH]
By region, North America dominated the global gypsum & drywall market in 2022, due to the increase in building activity, including new construction, rehabilitation, and remodeling projects. The region has well-defined building norms and regulations that focus safety, fire resistance, and energy efficiency in construction projects. Gypsum boards are well-known for their fire resistance, acoustic insulation, and ability to satisfy building code requirements. Furthermore, government expenditures in infrastructure development highlight the market potential possibilities for drywall and gypsum boards in North America. The presence of supportive government policies and regulations in North America attracts globally established organizations, especially in the manufacturing sector, to set up production facilities and R&D centers in the region. The availability of affordable resources and a pool of skilled labor in North America further motivates global companies to establish their strategies , which is anticipated to boost the regional gypsum & drywall market growth in the upcoming years.
Impact of COVID-19 on the Global Gypsum & Drywall Industry
Key Benefits For Stakeholders
Key Market Segments
Key Market Players