United States consume around 7.2 million tons of gypsum yearly for concrete and agricultural applications. ~ U.S. Geological Survey
According to a recently published report by Research Nester on “Global Gypsum Board Market Outlook: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global gypsum board market in terms of market segmentation by technology and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The expanding residential and commercial sectors has evolved the need for sustainable and economical construction material that is easy to manage, produce and use. The changing lifestyle of people has resulted in rising preferences towards complicated and new ceiling designs coupled with high strength, fire proofing, high ductility and other properties. The ability of gypsum boards to get molded into the required design and adaptability to walls with no beam structures coupled with no shrinkage property of gypsum are expected to increase the product demand. The rapid industrialization and urbanization is estimated to boost the global gypsum board market growth by a CAGR of around 12% during the forecast period i.e. 2019-2027.
The gypsum board market is segmented by type, product type, application type and thickness. The product type segment is further segmented into pre decorated board, wall board and ceiling board, out of which, the wall boards segment is anticipated to have leading shares of around 52% owing to their wide application area. The residential segment out of the application segment is anticipated to have around 47% market share owing to rise in urban population and better purchasing power.
Geographically, the global gypsum board market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. Out of which, Asia-Pacific region is anticipated to witness 55% of global consumption during the forecast period owing to high product demand in residential and pre-engineered metal building construction segments. North America is anticipated to have low market share owing to more use of other construction material that supports the environment and advanced technology resulting in more use of renewables. Middle East and Africa region is anticipated to witness a significant growth owing to increased investment in new infrastructure and construction sectors.
Inherent Product Properties to Boost the Demand for Gypsum Board Market
High thermal and fire resistance properties coupled with no shrinkage cracks, quick setting time and sound damping properties provide the product a large application area to cater. Owing to numerous decorative and constructional applications, it is widely used in ever expanding construction segment.
The new innovations and development in the gypsum board production for instance, ECOPHIT which provides better heat resistance and cooling effect is anticipated to drive the market growth.
Constant Efforts are Being Made to Minimize the Barriers faced by the Global gypsum board market
The restraining properties of gypsum material for instance, dampness due to moisture absorption and limitations on storage conditions has resulted in limited product shelf life and its usage for outside walls. Additionally, taxation and duties imposed coupled with price fluctuation in international market on export and import of the gypsum raw material has made gypsum board costlier than traditional cement and plaster, restraining its use in small scale construction industries.
This report also provides the existing competitive scenario of some of the key players of the global gypsum board market which includes company profiling of BGC Plasterboard, CGC Inc., Chiyoda Ute Co. Ltd., CONTINENTAL BUILDING PRODUCTS, Global Gypsum Board Co LLC, Jason plasterboard Co. Ltd., LafargeHolcim, PABCO Building Products LLC., Saint-Gobain Manufacturing Company, USG Zawawi Drywall LLC SFZ, VOLMA and other prominent players.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global gypsum board market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.