Commercial Sector to Witness Growth in Global Gypsum Board Market through 2024

Increasing investment in construction sector, rapid industrialization coupled with supporting government policies to drive global gypsum board market through 2024

According to TechSci Research report, “Global Gypsum Board Market By Type, By Thickness, By Application, By Region, Competition, Forecast & Opportunities, 2024”, global gypsum board market is expected to grow at a CAGR of close to 6% during the forecast period on account of its increasing demand in the construction sector. Gypsum boards are witnessing adoption in the construction and infrastructure industry on account of its quality, versatility, non-combustible core and its exceptional feature of providing sound control. With rising population across the globe, the demand for commercial and domestic building constructions is also increasing, which is fuelling demand for the construction of buildings and repair activities. However, high cost of machinery, raw material, other substitute products and improper transportation facilities, are likely to hamper the growth of gypsum board market during the forecast period.

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Global gypsum board market is segmented based on type, thickness, application, region and company. Based on type, the market can be segmented into wall boards, ceiling boards and pre-decorated boards and others. In 2018, wall boards represent the largest segment of global gypsum board market followed by pre-decorated boards, however, pre-decorated boards are expected to witness the highest growth until 2024. Based on application, the market can be categorized into residential sector, institutional sector, industrial sector and commercial sector. In 2018, residential sector was the dominant end-user segment in global gypsum board market. This can be attributed to the increasing affordable housing projects worldwide. Residential sector is followed by commercial and institutional sectors. Commercial sector is estimated to witness growth opportunities during forecast period. Increasing acoustic and thermal insulation requirement for commercial structures such as theaters, malls, shops and food centers are expected to be the primary driver for the growth of the market during the forecast period.

American Gypsum, BGC (Australia) Pty Ltd, USG Corporation (KNAUF), Beijing New Building Material Public Limited Company (BNBM Group), Chiyoda Ute Co. Ltd, Continental Building Products, Georgia-Pacific LLC, Global Gypsum Board Co. LLC (Gypcore), Jason Plasterboard (Jiaxing) Co. Ltd, PABCO Building Products LLC, Osman Group, Saint-Gobain, among others are some of the leading players operating in global gypsum board market. Companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

“Asia-Pacific is expected to be the largest as well as the fastest growing market for gypsum board during the forecast period, owing to the rapidly increasing construction activities in the region. Moreover, increasing construction spending coupled with strong demand for institutional buildings in economies such as China, India, among others is further expected to drive Asia-Pacific gypsum market over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

“Global Gypsum Board Market By Type, By Thickness, By Application, By Region, Competition, Forecast & Opportunities, 2024” has evaluated the future growth potential of global gypsum board market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in global gypsum board market.

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