New York (US), April 06, 2023 (GLOBE NEWSWIRE) -- Drywall & Gypsum Board Market Overview
According to a Comprehensive Report by Market Research Future (MRFR), “Drywall & Gypsum Board Market Information by Technology, by Application, by Material, and Region - Forecast till 2030", By 2030, the market for drywall and gypsum board will be worth USD 45.09 billion, attaining a 5.95% CAGR (2022-2030).
Market Synopsis
In both residential and non-residential construction, gypsum boards, which are lightweight building materials, are frequently used for walls, ceilings, and partitions. They're frequently referred to as drywall, wallboard, or plasterboard. They vary from plywood, hardboard, and fibreboard in that they offer sound control, adaptability, quality, and convenience in addition to having a non-combustible core. The demand for gypsum board and drywall is anticipated to increase along with the expansion in house remodelling and restructuring. The industry's expansion has also been aided by a growing focus on ecologically friendly green building construction materials that lower total overhead costs.
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Market Competitive Landscape:
The affluent companies in the drywall and gypsum board industry are
- USG Zawawi Drywall LLC SFZ (Oman)
- Knauf Middle East (Dubai)
- Gypsemna Co. LLC (Dubai)
- Global Mining Co. LLC (Oman)
- Gulf Gypsum Co. (Qatar)
- National Gypsum Co. (U.S.)
- Etex Group (Belgium)
- Lafarge Group (France)
- Saint - Gobain Gyproc India Ltd (India)
- Taishan Gypsum Co. (China)
- Yoshino Gypsum Co. Ltd. (Japan.)
- Kingspan Group plc. (Ireland)
- Winstone Wallboards Limited (New Zealand)
- Supress Products, LLC (U.S.)
- Gyptec Iberica (Portugal)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 45.09 billion |
| CAGR | 5.95% (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Technology, by Application, by Material |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | Lowering the proportion of down payment for second house loans Exempting of sales tax for ordinary housing |
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The value of the worldwide drywall and gypsum board market is growing as a result of the existence of several well-established and small competitors; this suggests that the industry is quite competitive. In order to obtain a competitive edge in this market and, thus, to preserve their market position, well-established companies, who constitute a significant portion of the market, include acquisition, cooperation, partnership, expansion, and other measures like product releases. These major firms compete as the market value for drywall and gypsum board increases depending on pricing, services, and other factors. The international market vendors who are active in the market work hard to provide the highest quality goods and services based on cutting-edge technologies and industry standards. To gain more clients, these major industry players invest a lot of money in the research and development divisions.
Market USP Covered:
Market Drivers:
The commercial and infrastructural sectors are among the most significant users of drywall and gypsum boards. In order to construct the walls, ceilings, floors, and roofs of commercial, residential, industrial, and institutional structures, gypsum is used to create drywall, glasses, ceramics, plasters, paints, and adhesives. Also, it is utilized to regulate cement setting and avoid flash settings. Drywall and gypsum boards are seen as acceptable construction materials because of their sustainability. Planning and carrying out many building projects are presently taking place in emerging nations like India, China, and Indonesia. As a result, the expansion of building activities is probably going to lead to an increase in demand for drywall and gypsum boards, which will drive the market over the projection period.
Market Restraints:
Gypsum frequently needs further processing before use, whether it is natural, manufactured, or recycled, especially when it is utilized for agricultural uses. Gypsum must also undergo testing on an individual basis to ensure high-quality outcomes. Because of its abrasive nature, it demands strong tools and durable parts. It also has problems with dust and clumping while 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 components and maintenance difficulties for processing equipment. Due to its potential to harden, it may also clump up while drying or storing.
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COVID 19 Analysis
Due to research bottlenecks that have slowed down the commercialization and acceptance of clean hydrogen via panels, the COVID-19 outbreak has had a negative effect on the market growth for drywall and gypsum boards. The majority of these investments have been postponed and redirected to support healthcare facilities due to the high costs associated with hydrogen solar panel projects, which are still in the research and testing stages, as well as the fact that the covid-19 outbreak caused an international economic slowdown. But the sector has made great progress as the virus's transmission slows and lockdowns are lifted, with companies creating ground-breaking products and spending to speed up the market's growth rate.
Market Segmentation
By Product
The market can be divided, with respect to products, into wallboard, ceiling board, pre-decorated board, &many others.
Wallboard currently holds the biggest market share and is anticipated to continue dominating over the projection period. Wallboard is increasingly being used in suspended ceilings and non-load-bearing walls, which is driving market demand. Wallboard is changing both residential and commercial construction as it gradually gains acceptance as a superior substitute for conventional plaster and wood solutions.
By End-User
The drywall & gypsum board market end-users are residential as well as non-residential segments.
The residential sector dominates the market's application segment and is anticipated to see the greatest CAGR growth over the course of the forecast period. Throughout the course of the projection, the non-residential sector is anticipated to contribute. The non-residential sector includes businesses like hotels and corporate offices as well as educational institutions.
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Regional Insights
The need for institutional and commercial infrastructure areas has grown as a result of the APAC region's economic expansion. The major market players are increasingly moving their production facilities to serve the high-potential markets in the Asia-Pacific region, largely because there is access to cheap labor and a plentiful supply of raw materials there. This has a favorable effect on the market's expansion globally during the course of the time period. China is quickly becoming one of the Asia Pacific region's most important marketplaces. The Chinese government has announced a number of beneficial regulations, including lowering the down payment requirement for loans for second homes and exempting sales tax for regular dwellings. This aided in the market for commercial housing's comeback. This will have further positive effects on the market expansion.
The Middle East and Africa are doing well because of the brisk demand in nations like Oman, Saudi Arabia, Jordan, and Qatar. Leading economies are concentrating on increasing their manufacturing capacities to meet the increased demand for building in the Middle East and Africa area. Gypsum board demand in the area is being favorably impacted by this development.
Due to the Kingdom of Bahrain's fast-growing construction sector and rising product demand for interior walls and ceiling applications, the gypsum board industry has experienced consistent expansion over the past few years. Gypsum panels are the most often used gypsum product in the area, and the nation depends on imports to meet the whole demand for gypsum panels.
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