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Industry Insights, Market Size, CAGR, High-Level Analysis: Gypsum Board Market The global gypsum board market size was estimated at USD 40.87 billion in 2019 and is expected to expand at a CAGR of 11.9% in terms of revenue, from 2020 to 2027. Growing demand from the residential construction sector coupled with increasing consumer spending on advanced construction materials is expected to drive the growth. Accelerating growth of construction industry across the major economies, such as China, India, Brazil, Mexico, South Africa, and Russia is expected to support the market growth. In addition, growing innovative construction applications of gypsum board are likely to provide growth opportunities. The U.S. market for gypsum board stood at USD 12.96 billion in 2019 and is anticipated to expand at a CAGR of 10.6% over the forecast period. The growing construction industry in the country coupled with the rising trend of single-family and multi-family house constructions is anticipated to fuel the product demand in the forthcoming years. Increasing trends for aesthetic improvements in the building structures in light of the ability of the product to offer innovative design and textures on its surface are likely to increase its application in high-end construction. Wallboards and ceiling boards are widely used for enhancing the interiors of residential and commercial buildings. Factors such as increasing urban migration in major economies, rise in government spending in the real estate market for residential construction coupled with the growing need for high-class residential homes is anticipated to aid the market growth. However, fluctuations in the raw material prices and regulations regarding gypsum mining may hamper the market in the forthcoming years. Leading market players focus on increasing production capacities and introducing gypsum boards with improved strength and durability. Moreover, the players are investing in R&D to manufacture products specific to interior decorative applications with the addition of design and textures. Product Insights of Gypsum Board Market In 2019, gypsum wallboards emerged as the largest product segment in the gypsum board market, owing to its wide acceptance as a plaster substitute. Increasing demand for sustainable construction in North America and Europe is expected to further drive the product demand. Moreover, continuous product innovation is likely to increase its penetration in high-end construction applications. The gypsum ceiling board is used for replacing other conventional counterparts including plaster in ceilings and interior walls. These ceiling boards significantly improves the thermal and sound insulation in buildings at a relatively lower cost whilst offering high rigidity and core strength. Growing office construction projects across the globe are likely to drive the demand for ceiling boards over the forecast period. Pre-decorated boards are gaining wide acceptance in various construction projects owing to their low maintenance and easy installation properties that make them cost and time effective. These products fine versatile commercial applications owing to their ability to provide flexibility to changing workspace configuration while offering maximum stability and color retention to surfaces. Other gypsum-based products including sheathing, plaster base, and lath are gaining traction in the market because of their ability to enhance architectural design and aesthetics of the building structures. Plaster-based panels consist of a special gypsum core along with multi-layered laminated face paper, which offers high plaster bond with sag resistance and rapid installation whilst controlling water absorption. Application Insights of Gypsum Board Market Residential application accounted for the largest market share of 50.5% in terms of revenue, in 2019. Growing urban population coupled with increasing demand for aesthetically improved materials in building architecture is likely to support the growth in the forthcoming years. A growing number of construction projects in major economies including China, India, Brazil, Russia, and U.S. are likely to augment the market for gypsum boards. Increased demand for construction materials with less environmental impact, especially from modern office and commercial buildings across the globe is projected to surge the growth in near future. Gypsum is widely used in PEBs in roofing and external wall applications. It is most commonly used in industrial structures since it facilitates easy fitting in windows and doors whilst providing security. Some other properties of PEBs making it a preferred building material in comparison with other conventional alternatives, such as steel are lightweight, design flexibility, economical prices, and easy fabrication. Laminated gypsum wallboards, with the base layer stapled to the wall and the second finished layer laminated to the base layer, are the most commonly used product in institutional applications. Institutional construction activities are expected to witness a rapid growth in near future owing to the increasing number of K-12 school construction coupled with a rising influx of students. Regional Insights of Gypsum Board Market Asia Pacific dominated the global market in 2019 with a share of more than 30% and is expected to ascend at a revenue-based CAGR of 14.2% over the forecast period. The well-established construction industry in the region coupled with growing construction projects in China and India is anticipated to drive the demand over the forecast period. North America market for gypsum boards is characterized by a high demand for sustainable construction demand coupled with advanced technology and skilled labor. Increasing residential and commercial construction spending in the region is another key factor driving the growth. Moreover, the presence of prominent manufacturers in the region is likely to spur the regional product demand over the forecast period. Middle East and Africa (MEA) is anticipated to emerge as one of the key markets due to the growing construction industry along with escalating investments in the region. Countries such as Qatar, Oman, and Jordan are likely to witness significant growth in terms of revenue in the forthcoming years. Increasing gypsum production in Oman and Saudi Arabia is anticipated to remain a key driving factor. Favorable government regulations for the construction projects coupled with increasing investments from foreign players and public-private partnerships in the major economies are anticipated to create new growth avenues for the industry players. However, fluctuating raw material prices and mining restrictions in major economies are expected to hamper the growth. Market Share Insights of Gypsum Board Market Prominent players include Saint-Gobain Gyproc, Knauf, Gulf Gypsum Co., USG Corporation, National Gypsum, Lafarge Holcim, and Georgia pacific. The companies focus on mergers and acquisitions of smaller companies to extend the production capacity, enhance the product portfolio, and extend the geographical reach. The market is highly competitive in nature owing to the presence of numerous multinational players. Increasing investments in R&D by the leading players for the introduction of designs and textures in the product are further likely to intensify the competitive environment. Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Gypsum Board Market Research Report This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global gypsum board market report on the basis of product, application, and region: Product Outlook (Volume, Million Square Meters; Revenue, USD Million, 2019 - 2030) Wallboard Ceiling Board Pre-decorated Board Others Application Outlook (Volume, Million Square Meters; Revenue, USD Million, 2019 - 2030) Pre-Engineered Metal Buildings Residential Industrial Commercial Institutional
Table of Contents Chapter 1. Methodology and Scope 1.1. Research Methodology 1.2. Research Scope & Assumption 1.3. Information Procurement 1.3.1. Purchased Database 1.3.2. GVR’s Internal Database 1.3.3. Secondary Sources & Third-Party Perspectives 1.3.4. Primary Research 1.4. Information Analysis 1.4.1. Data Analysis Models 1.5. Market Formulation & Data Visualization | read more...