Straits Research is excited to announce the release of its comprehensive market report on the global gypsum board market. The market was valued at USD 59.48 billion in 2024 and is expected to grow substantially, reaching USD 171.70 billion by 2033, expanding at a compound annual growth rate (CAGR) of 8.50% during the forecast period (2025–2033). This remarkable growth trajectory reflects the increasing demand for gypsum boards, driven by the booming construction industry, rising urbanization, and the growing need for energy-efficient and fire-resistant building materials.
The report offers valuable insights into key market drivers, trends, opportunities, and segmentation, providing a detailed outlook on the future of the gypsum board industry.
Market Definition
Gypsum board, also known as drywall or plasterboard, is a building material used in the construction of walls and ceilings. It consists of a layer of gypsum sandwiched between two layers of paper. Gypsum board is highly regarded for its ease of installation, fire-resistant properties, sound insulation, and smooth finish, making it a popular choice in both residential and commercial construction projects. With growing demand for sustainable and cost-effective building materials, gypsum boards have become an essential component of modern construction. As building codes and regulations become stricter, the use of gypsum boards continues to rise globally.
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Latest 3 Trends in the Gypsum Board Market
Growing Demand for Green and Sustainable Building Materials: With a focus on sustainability in construction, gypsum boards are increasingly being used due to their eco-friendly attributes. They are made from natural resources and are recyclable, making them a popular choice for green building certifications such as LEED (Leadership in Energy and Environmental Design).
Increasing Use of Lightweight Gypsum Boards: The demand for lightweight gypsum boards has surged in recent years. These boards are easier to handle, transport, and install, which lowers overall construction costs and time. Additionally, their lightweight nature reduces the burden on structural components, making them ideal for modern high-rise buildings.
Technological Advancements in Fire-Resistant Gypsum Boards: As safety standards in the construction industry become more stringent, fire-resistant gypsum boards are gaining traction. These boards offer improved fire resistance and are used extensively in commercial, residential, and industrial buildings to meet safety regulations and provide protection against fire hazards.
Growth Factors Driving the Gypsum Board Market
Expanding Construction Industry: The rapid growth of the construction industry, particularly in emerging economies, is one of the key factors driving the demand for gypsum boards. The rise in residential and commercial building projects, along with infrastructure development, has created a strong demand for cost-effective, durable, and easy-to-install materials like gypsum boards.
Urbanization and Infrastructure Development: Urbanization is a global trend, with more people moving into cities, which fuels the need for more housing, offices, and commercial spaces. As a result, there is a growing demand for materials like gypsum boards, which are essential for constructing walls and ceilings in both residential and commercial buildings.
Rising Focus on Fire Safety and Soundproofing: The need for materials with better fire-resistant and soundproofing capabilities is increasing in the construction industry. Gypsum boards are widely used due to their ability to meet fire-safety standards and their effectiveness in sound insulation, making them a preferred choice in schools, hospitals, office buildings, and residential complexes.
Key Market Opportunities
Growth in the Asia-Pacific Region: The Asia-Pacific region presents significant growth opportunities for the gypsum board market. As countries like China, India, and Southeast Asian nations undergo rapid urbanization, the demand for construction materials, including gypsum boards, is soaring. Investments in infrastructure projects and residential construction are expected to propel market growth in this region.
Expansion of Green Building Initiatives: With growing emphasis on sustainability and eco-friendly construction practices, the demand for green building materials is on the rise. Gypsum boards, which are energy-efficient and recyclable, stand to benefit from this shift toward environmentally conscious building materials. The growing adoption of green building certifications will drive the demand for sustainable construction materials.
Technological Advancements in Product Offerings: The gypsum board industry is expected to see technological advancements, such as the development of fire-resistant, moisture-resistant, and acoustic gypsum boards. These innovations will cater to the specific needs of different sectors, including healthcare, education, and hospitality, presenting lucrative opportunities for manufacturers.
Segmentation of the Gypsum Board Market
Straits Research has segmented the global gypsum board market to provide a more granular understanding of the various factors influencing its growth. The segmentation includes the following categories:
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- By Type
- By Application
- By End-User
- By Region
Key Players in the Gypsum Board Market
The global gypsum board market is highly competitive, with several key players contributing to market growth through innovative products and expanding distribution networks. Key players include:
- Saint-Gobain Group
- USG Corporation
- Knauf Gips KG
- National Gypsum Company
- Etex Group
- CertainTeed Corporation
- Yoshino Gypsum Co., Ltd.
- Georgia-Pacific LLC
- China National Building Material Group (CNBM)
- Continental Building Products, Inc.
These companies are focusing on product innovation, mergers and acquisitions, and expanding their production capacities to meet the increasing demand for gypsum boards across the globe.
Market Regions
Dominated Region: Asia-Pacific
The Asia-Pacific region dominates the global gypsum board market, driven by rapid urbanization and infrastructure development, particularly in China and India. These countries account for a significant portion of global construction activities, thereby creating a high demand for gypsum boards.Fastest Growing Region: Europe
Europe is the fastest-growing region in the gypsum board market. Increasing demand for energy-efficient building materials, stricter regulations for fire safety, and the rising construction of green buildings are some of the key drivers for this growth. The ongoing renovation and modernization of existing buildings also contribute to the demand for gypsum boards.
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Straits Research’s report offers essential insights into the gypsum board market, helping stakeholders navigate this dynamic and rapidly growing industry. The report provides key information about current trends, growth opportunities, and regional dynamics, making it a valuable resource for businesses, investors, and industry professionals seeking to capitalize on the future of the gypsum board market.
