Global Drywall and Gypsum Board Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028

Drywall and Gypsum Board Market: Overview

“The global Drywall and Gypsum Board Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Drywall and gypsum boards are panel products commonly known as wallboard, sheetrock, and plasterboard, used in building construction of interior walls and ceilings.

These panel products serve as an excellent fire-resistive building material by offering several advantages such as sound isolation, durability, and ease of installation.

Drywall and Gypsum Board Market: Dynamics

Increasing acceptance of drywall and gypsum board as an alternative to plywood, hardboard, and fiberboard owing to its unique properties such as lightweight nature, convenient carry nature, non-combustible core, and long durability, are some of the major factors expected to propel the growth of the global market over the forecast period.

Moreover, increasing focus on R&D activities associated with cost reduction in the installation and innovation in products in order to improve the aesthetics of buildings is anticipated to bolster demand for the target product.

In addition, a rise in focus on environmentally sustainable green building construction materials to reduce carbon emissions rate, increasing infrastructural investments, along with government initiatives and policies to promote energy-efficient and sustainable development in developed as well as developing economies are also expected to support the growth of the target market.

In March 2018, China National Building Material began a gypsum wallboard plant project in East Africa (Tanzania). The project is a part of its contribution to the government’s ‘One belt, one road’ strategy.

Drywall and Gypsum Board Market: Segment Analysis

The global drywall and gypsum market is segmented on the basis of product type, end-use, and geography.

By product type, the global market is segmented into wallboard, ceiling board, and pre-decorated board. The wallboard segment is expected to hold a significant share in the market over the forecast period owing to the growing application of wallboard in the construction of shops, offices, and malls.

By end-use, the global market is segmented into residential and non-residential. The non-residential segment is expected to grow at a significant rate in the global market.

Drywall and Gypsum Board Market: Regional Analysis

North America contributes a major share in terms of revenue in the global drywall and gypsum board market and is expected to register a moderate growth rate over the forecast period owing to rapidly growing construction activities and remodeling and restructuring of homes in the region.

The Asia Pacific drywall and gypsum board market is expected to grow at a significant rate over the forecast period with the easy availability of raw material and low-cost labor coupled with a greater requirement for commercial and institutional infrastructure projects.

Moreover, rapid industrialization, increasing disposable income, and rising spending power of the people have enforced to increase in residential construction projects in the region. In addition, Significant investments in the infrastructural sector and partnerships between the government and private companies in developing economies are some of the major factors expected to drive the growth of the target market in the Asia Pacific. Europe accounts for a moderate revenue share in the global market and is expected to witness considerable growth over the long run.

Global Drywall and Gypsum Board Market Segmentation:

Segmentation by Product Type:

• Wallboard
• Ceiling Board
• Pre-decorated Board

Segmentation by End-user:

• Residential
• Non-residential

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa