Gypsum and Drywall Market to Reach $51.9 Billion Globally by 2032 at 6.1% CAGR: Allied Market Research

Growing demand from the building and construction industry and rising demand for sustainable and eco-friendly building materials across the globe is anticipated to drive the growth of the global gypsum and drywall market during the forecast period. The North American region is projected to witness significant growth through 2032.

Wilmington, Delaware, June 06, 2024 (GLOBE NEWSWIRE) — Allied Market Research recently released a report, titled, “Gypsum and Drywall Market Size, Segmentation, 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 and drywall market generated USD 29.3 billion in 2022 and is projected to generate USD 51.9 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

Key determinants of growth

Growing demand for plaster and drywall from the building and construction industry, growing preference for aesthetically pleasing interior designs and increasing adoption of sustainable and eco-friendly building materials across the globe are the factors expected to drive growth of the global gypsum and drywall market in the forecast period of 2023 to 2032. However, environmental hazards coupled with potential threats to public health and safety may limit the market growth in the near future. Conversely, technological advancements and innovations in lightweight boards and improved insulation properties are expected to provide rewarding opportunities for the expansion of the gypsum and drywall market during the forecast period.

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Report Coverage and Details:

Product: Wallboard Sub-segment to flourish profusely During the forecast period

The wall tiles sub-segment accounts for the largest share of the global gypsum and drywall market of 40.7% in 2022 and is expected to hold the largest share until 2032. This is mainly due to the widespread acceptance of tiles of the wall as an alternative to plaster and increasing demand for eco-friendly construction. Continued product innovation is expected to further increase its appeal, particularly in high-end building projects and commercial applications.

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Thickness: 1/2 inch sub-segment to witness a marked growth during the forecast period

The 1/2-inch sub-segment held the largest market share of 40.1% in 2022 and is projected to continue to dominate until 2032. This is mainly because the 1/2-inch thickness strikes a balance between ease of installation and structural integrity, making it a preferred choice for residential and commercial applications. In addition, its fire resistance, smooth finish and sound insulation properties contribute to safer and more comfortable indoor environments, further driving the growth of the sub-segment.

End user: RerESIDENCE Sub-segment It held the highest share in 2022

The residential sub-segment held the largest market share of 53.7% in 2022 and is projected to witness significant growth during the forecast period. Homeowners are looking for durable, mold-resistant, and fire-resistant solutions, making drywall and drywall ideal for creating safe and visually appealing interior spaces. Additionally, their easy installation and smooth finish options appeal to both homeowners and construction professionals, speeding up project timelines.

Region: North American Market in leaden in terms of major stocks until 2032

The gypsum and drywall market in North America accounted for the largest share of 40.8% in 2022 and is projected to continue to hold the major share until 2032. The region’s dominance is primarily due to the increase in building and construction activity, strict building regulations emphasizing safety and energy efficiency and significant government investment in infrastructure development.

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Key Players in the Gypsum and Drywall Market:

• ECNI-GYPSUM

• MATERIAL (GROUP) OF NEW BUILDINGS PEKIN CO. LTD.

• Lafarge Group

• USG Corporation

• American Gypsum Company LLC

• Knauf Gypsum KG

• Saint-Gobain

• Global Mining Company LLC (GMC)

• GYPLAC SA

• NATIONAL GYPSUM (NGC)

The report provides a detailed analysis of the key players in the global Gypsum and Drywall market. These players are using various strategies including launching new products, entering into collaborations, expanding operations, forming joint ventures and signing agreements, all aimed at increasing their market share and securing their position. competitive in different regions. The report is valuable in highlighting the business performance, operating segments, product portfolio and strategic moves of the market players to display the competitive scenario.

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