The global gypsum board market size is expected to reach USD 89.33 Billion by 2030, according to a new study by Polaris Market Research. The report “Gypsum Board Market Share, Size, Trends, Industry Analysis Report, By Product (Wallboard, Ceiling Board, Pre-decorated Board, Others); By Application; By Region; Segment Forecast, 2022 – 2030” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Gypsum board recycling is moving the industry in a different direction. Gypsum and board products are currently only recycled in a modest amount, mostly for use in the creation of new products. Consumers are paying a lot of negative attention to the growing environmental issues, which is undoubtedly terrible for this firm.
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The majority of recycling projects have been finished in industrialised nations like Europe and North America, and many more are set to start soon. For instance, in December 2021, Saint-Gobain has declared that it has implemented recycling technology at its gypsum wallboard factory in Silver Grove, Kentucky. The company claims that this will enable the plant to recycle 15,000 tonnes of paper annually that would otherwise be sent off to the landfill. The recycling machinery cost $850,000 and was purchased by CertainTeed.
Furthermore, other efficiency of resource requirement for gypsum boards in the construction sector include rising consumer focus and choosing to spend on sophisticated construction materials and the expanding trend of high-end residential units. These factors are anticipated to continue to support the market’s revenue growth in the future.
Residential construction frequently uses one layer. The market for these panels in the residential sector is rising as a result of the low cost and quick construction time. Due to escalating building operations in emerging nations as a result of refugee concerns and growing populations in numerous countries, this industry is projected to have additional chances in the near future.
The major players focus on the launches of gypsum boards for the construction industries with advanced technology is the factor boosting the market growth over the forecast period. For instance, in January 2021, Saint Gobain introduced a laminated plasterboard exterior sheathing to be used in ceilings called 4PRO Active’Air. By removing pollutants with their Active’Air technology.
Gypsum board demand has increased as a result of the growing trend of aesthetically pleasing home décor since the material may be utilised to make ceilings with distinctive designs and textures. Other important aspects that are anticipated to drive future market revenue growth include the introduction of sophisticated production and growing investment to speed up R&D operations. However, there are several important limitations that can limit market growth to some level moving forward, including the volatility of raw material costs and strict restrictions pertaining to gypsum mining and manufacturing.
Gypsum board Market Report Highlights
- Pre-decorated board segment is expected to witness significant growth. Due to their widespread use in several construction projects due to their easy installation and low maintenance requirements, pre-decorated boards are predicted to grow at the fastest rate.
- Residential application accounted for a substantial revenue share. The expansion of the residential application segment can be ascribed to the increasing demand for multi-family housing in areas like Asia Pacific and North America.
- AsiaPacific is anticipated to grow at the fastest CAGR over the forecast period. Gypsum board consumption is on the rise due to the region’s emerging markets’ rapid urbanisation projects as well as the region’s stable progress in the construction industry, expanding investment and financing, and favourable government policies.
- The global market is highly competitive owing to the existence of large industry players with a global presence including Arcat, Inc., Beijing New Building Material (Group) Co., Ltd., Georgia-Pacific Gypsum Llc, National Gypsum Properties LLC, Osman Group, Saint-Gobain Inc., Volma Coroporation, Yoshino Gypsum Co., Ltd., and Zawawi Minerals LLC.
Polaris Market Research has segmented the Gypsum board market report based on product, application, and region:
Gypsum Board, Product Outlook (Revenue – USD Billion, 2018 – 2030)
- Ceiling Board
- Pre-decorated Board
Gypsum Board, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Pre-engineered Buildings
Gypsum Board, Regional Outlook (Revenue – USD Billion, 2018 – 2030)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa