The Global Gypsum Board Market growth is majorly attributed to the increasing use of gypsum board with a worldwide acceptance of renovation and remodelling commonly in urban areas.
Gypsum board, also known as drywall, is a specific board with a gypsum core and a paper facing. Gypsum board is used as building material for wall, ceiling, and partition systems in residential, institutional, and commercial structures. Gypsum board offers high fire resistance, sound control, economy, versatility, quality, and convenience. Gypsum boards are categorized into regular gypsum board, and type X gypsum board. Regular Gypsum board offers fire resistance from the natural gypsum in the core, whereas type X Gypsum board contains special core additives to increase the natural fire resistance of regular gypsum board.
The increasing construction of new structures, renovation, and remodelling of existing buildings primarily drives the growth of the gypsum board market. The growing construction of commercial and public building infrastructures along with the growth in global construction industry further augments market growth. The increasing investments by governments for enhancing public infrastructure further supports market growth. The growth in urban population, and increasing industrialization accelerates the growth of the gypsum board market. Other factors driving the market include increasing disposable income, design, and aesthetics. Growing demand from emerging economies, and development of green and sustainable buildings is expected to provide numerous growth opportunities in the coming years.
The global Gypsum board market is segmented on the basis of product, end-user, and geography.
Geographically, the global Gypsum board market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
On the basis of geography, Asia-Pacific is expected to dominate the global Gypsum board market over forecast period. A significant increase in disposable income, and construction and renovation of residential buildings drive the growth of the Asia-Pacific gypsum board market. Other driving factors include growth in construction industry, and development of public infrastructure. The increasing investments by governments for enhancing public infrastructure further supports market growth. The increasing trend of design and aesthetics accelerates the gypsum board market growth in the region.
Key players in the global Gypsum Board market are: