According to a report published by Fortune Business Insights, titled “Gypsum Board Market Size, Share & Industry Analysis, By Type (Regular Gypsum Boards, Fire & Moisture Resistant Boards, and Others), By Installation (Screwing into Studs and Gluing to Concrete), By Application (Gypsum Board Partitioning, Ceilings and Wall Coverings, and Others), By End-Use (Residential, Commercial, and Others), and Regional Forecast, 2025-2032.”
The global gypsum board market size was valued USD 13.73 billion in 2024. The market is projected to grow from USD 14.19 billion in 2025 to USD 18.16 billion by 2032 at a CAGR of 3.6% during the forecast period. Asia Pacific dominated the gypsum board market with a market share of 43.55% in 2024.
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List of companies profiled in the report:
Saint-Gobain
Knauf
USG Corporation
National Gypsum Company
Yoshino Gypsum Co. Ltd.
USG Boral
Eagle Materials Inc.
China National Building Material Co., Ltd.
Taishan Gypsum Co., Ltd
Fletcher Building
Cabot Gypsum ULC
A gypsum board is a type of material that is used as a dry wall in several infrastructure construction activities. Accounting to the exceptional properties of the product such as low cost, ease of installation, and resistance to external factors such as water and fire, the product is being widely adopted by major businesses across the world. The presence of several large scale companies, coupled with the variations in product offerings will have a positive impact on the growth of the overall market in the coming years. The emphasis recycling products will create a subsequent demand for gypsum boards across the world. Increasing environmental concerns and depletion of resources have been the triggering factors that have encouraged manufacturers to incorporate dry walls or gypsum boards. The rising construction activities as well as industrialization will open up a huge potential for the companies operating in the global market.
Increasing Number of Company Mergers and Collaborations Will Aid Growth
The report encompasses several factors that have made influenced the growth of the market in recent years. With a bid to acquiring a wider customer base, several large scale companies are looking to acquire smaller and medium enterprises. A few of the major company mergers have been highlighted in the report. In November 2019, Saint-Gobain announced that it has completed the acquisition of Continental Building Products. The company is a US based manufacturer of construction materials and through its acquisition, Saint-Gobain will look to strengthen its portfolio of gypsum products. Saint-Gobain’s latest acquisition will have a huge impact on the growth of the gypsum board market in the forthcoming years.
Asia Pacific Currently Dominates the Market; Rising Construction Activities to Aid Growth
The report analyzes the ongoing gypsum board market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in Asia Pacific currently dominates the market. The constantly rising construction activities, coupled with the increasing industrialization in emerging countries such as India, China, and Japan will aid the growth of the market. Besides Asia Pacific, the market in North America will also witness considerable growth in the coming years. As of 2018, the market in North America was worth USD 16.21 billion and this value is likely to increase further in the coming years.
Gypsum board is one of the most consumed gypsum products in the world. It is predominantly used for ceiling and partition wall applications in the construction industry. Several types of these boards are available in the market including regular boards, moisture resistant boards, fire resistant boards, mobile boards, pre-decorated boards, and others. Regular board is the most commonly used type in the global market.
Information Source: https://www.fortunebusinessinsights.com/gypsum-board-market-102718
Industry Developments
April 2024 - Saint-Gobain Gyproc became the first company in India to produce low-carbon plasters, reducing the global warming potential by 40% over their lifetime. Gypsum plaster is the most effective alternative to traditional cement plaster, offering superior finish. Fewer cracks, zero cement, significant water & energy savings, and increased productivity are boosting its adoption.
October 2023 - Saint-Gobain announced the remaining acquisition of assets and equity interest of Seven Hills Paperboard LLC which also includes a gypsum paper board liner manufacturing facility from its joint venture partner WestRock. The acquisition provided Saint-Gobain with greater control over the supply of critical raw materials and components necessary to manufacture boards and related products. April 2023 - Saint-Gobain began producing plasterboard in Norway using a 100% decarbonized process. Switching from natural gas to hydroelectric power enabled decarbonization of the industrial process, reducing CO2 emission by 23,000 tons annually. Modernization of the plant, better heat recovery, and process efficiency led to a 30% reduction in energy use.