Wilmington, Delaware , June 06, 2024 (GLOBE NEWSWIRE) -- Allied Market Research has recently published a report, titled, “Gypsum & Drywall Market Size, Share, Competitive Landscape and Trend Analysis Report by PRODUCT, by END-USER, by Thickness : Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global gypsum & drywall market generated $29.3 billion in 2022, and is anticipated to generate $51.9 billion by 2032, rising at a CAGR of 6.1% from 2023 to 2032.
Prime Determinants of Growth
The increasing demand for gypsum & drywall from the building & construction industry, the rising preference for aesthetically pleasing interior designs, and growing adoption of sustainable & eco-friendly construction materials across the globe are the factors expected to drive the growth of the global gypsum & drywall market in the forecast period from 2023 to 2032. However, environmental risks coupled with potential threats to public health and safety may restrict market growth in the coming future. Contrarily, technological advancements and innovations in lightweight boards & improved isolation properties are expected to offer remunerative opportunities for the gypsum & drywall market expansion during the forecast period.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2023–2032 |
| Base Year | 2022 |
| Market Size in 2022 | $29.3 billion |
| Market Size in 2032 | $51.9 billion |
| CAGR | 6.1% |
| No. of Pages in Report | 300 |
| Segments covered | Product, Thickness, End User, and Region |
| Drivers | Increasing global demand for sustainable and eco-friendly construction materials Expansion of building & construction activities |
| Opportunities | Technological advancements Supportive government regulations and policies promoting infrastructure development |
| Restraints | Environmental risks, including the breakdown of sulfate into poisonous hydrogen sulfide |
Product: Wallboard Sub-segment to Flourish Immensely During the Forecast Period
The wallboard sub-segment accounted for the largest global gypsum & drywall market share of 40.7% in 2022 and is expected to hold major share by 2032. This is mainly due to the wide acceptance of wallboard as a plaster alternative and increasing demand for eco-friendly construction. Ongoing product innovation is expected to further enhance its appeal, especially in high-end building projects and commercial applications.
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Thickness: 1/2 Inch Sub-segment to Witness Prominent Growth During the Forecast Period
The 1/2 inch sub-segment held the largest market share of 40.1% in 2022 and is predicted to continue to dominate by 2032. This is mainly because 1/2 inch thickness strikes a balance between ease of installation and structural integrity, making it a preferred choice for residential and commercial applications. Besides, its fire resistance, smooth finishing, and soundproofing properties contribute to safer and more comfortable interior environments, further fueling the sub-segment's growth.
End User: Residential Sub-segment Held the Highest Share in 2022
The residential sub-segment held the largest market share of 53.7% in 2022 and is predicted to witness significant growth during the forecast period. Homeowners seek durable, mold-resistant, and fire-resistant solutions, making gypsum boards and drywall ideal for creating safe and visually appealing interior spaces. Additionally, their easy installation and smooth finishing options appeal to both homeowners and construction professionals, expediting project timelines.
Region: North America Market to Lead in Terms of Major Share by 2032
The North America gypsum & drywall market accounted for the largest share of 40.8% in 2022 and is predicted to continue to hold major share by 2032. The region’s dominance is majorly owing to the increased building & construction activity, stringent building regulations emphasizing safety & energy efficiency, and significant government investment in infrastructure development.
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Leading Players in the Gypsum & Drywall Market:
- ECNI-GYPSUM
- BEIJING NEW BUILDINGS MATERIAL (GROUP) CO. LTD.
- Lafarge Group
- USG Corporation
- American Gypsum Company LLC
- Knauf Gips KG
- Saint-Gobain
- Global Mining Company LLC (GMC)
- GYPLAC SA
- NATIONAL GYPPSUM (NGC)
The report provides a detailed analysis of the key players of the global gypsum & drywall market. These players are employing various strategies including launching new products, entering collaborations, expanding operations, forming joint ventures, and signing agreements, all aimed at boosting their market share and securing their competitive position across different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." Allied Market Research has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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