Gypsum Board Market was valued at USD 2,680 million in 2022 and it is expected to reach USD 4,729 million by 2033, at a CAGR of 5.3% over the forecast period (2022-2033)
Gypsum board, a panel made of calcium sulphate Dihydrate is extruded among thick sheets of facer and backer paper. It is used primarily for ceiling construction and interior walls. Gypsum Board is also known as drywall. The thick sheet of plaster is made up of a mixture of gypsum crystal, plasticizer, fiber, ground and gypsum crystal, starch, EDTA, & starch. It reduces mildew, fire resistance, and water absorption, and lowers fire risk.
Gypsum boards are lightweight Dry construction materials used for walls and ceilings. They can also be used to partition the interiors or exteriors of non-residential buildings. Gypsum boards can be attached directly to existing wood or metal framing using screws, nails, and adhesives. Gypsum boards are a great choice for sound control, versatility, and quality. They also offer convenience and a non-combustible core that makes them stand out from hardboard, plywood, and fiberboard. Gypsum board is gaining popularity because it has a higher quality, versatility, sound control, and non-combustible core than traditional plastering.
MRfactors research team stated, Gypsum Board Market is being boosted by the increasing number of remodelling and construction activities in both the commercial and residential sectors. The global market is also being positively impacted by the increasing investments made by governments across the globe in infrastructure development projects. Another important growth factor is the widespread use of gypsum board as a covering material for interior walls and ceilings, and as a tile backer within limited wetting areas such as the bathroom and water closet, basement, kitchen and laundry, and utility rooms. These countries’ governments are investing heavily in infrastructure development, which is driving the demand for Gypsum Board Market. Market growth is also being influenced by the growing real estate sector due to increasing urban migration. They are also recyclable and environmentally friendly, which helps in low-cost and sustainable construction. This is driving the market growth. The market is also being influenced by the growing real estate industry. The gypsum board market will be fueled by the introduction of sound-reducing and air-purifying variants that contain a viscoelastic layer in the middle between two thinly formulated layers.
Gypsum board has become a popular choice in construction due to its numerous advantages. Gypsum board offers many benefits, including:
1. Gypsum boards are lighter than other wall materials. This makes them easier to transport, install and maintain.
2. Easy to cut: Gypsum Board can be easily shaped and cut with either power or hand tools. This makes it versatile and simple to use.
3. Fire-resistant: Gypsum Board is made from a naturally resistant material making it safe for use in buildings.
4. Soundproofing: Gypsum board works well to reduce noise transmission between rooms. This makes it a good choice for apartments or multi-family dwellings.
5. Durability: Once properly installed, and fully finished, the gypsum board can last for many decades without the need to be replaced.
Revenue growth is also being driven by rising investments and various government initiatives. The New Zealand government formed a task force to address the national shortage of gypsum wallboards on 21 June 2022. The task force is made up of experts from the gypsum board industry. The task force promises to refocus on the competitiveness of the building materials industry and will also look at potential new products for the New Zealand market as well as research new distribution models.
Over the forecast period, Asia Pacific’s Gypsum Board Market accounted for a steady revenue portion. Steady growth in the APAC building and construction industry, such as India, Japan, China, and Japan, is responsible for the rising demand. Favourable government regulations, increasing investment, and funding to speed the development of the construction and building sector in emerging countries of the region are all factors that contribute to the rapid rise in urbanisation projects and the growing number of them. Another important factor is the rise in investments and company initiatives.
The Gypsum Board market is a fast-growing industry that has seen tremendous success in recent years. As the demand for industrial construction and renovation projects continues to rise, so does the need for reliable materials used in these works. Gypsum board is one of the most commonly used materials in industrial construction, which means its market value is high. With advancements in technology allowing for higher-quality production and improved performance, this type of product has become even more popular than before.