Gypsum boards consist of a non-combustible core, and as the name suggests, are made of gypsum; these boards are employed as an aesthetic building material. The popularity of gypsum boards is a result of their application for decorative purposes, owing to their availability in different shapes and sizes, textures, their cost-effectiveness and flexibility. The gypsum boards market is foretold to witness sturdy growth over the forecast period, due to the product’s desirability in building systems. The gypsum boards market offers light weight, durable, fire resistant and sound control products that are widely used for partitions, ceilings and walls in both, interiors and exterior of a building.
Gypsum boards, also known as plasterboards or wallboards, can be directly attached to metal or wooden framing by using any convenient method – making them prevalent in the market to serve as suitable substitutes over traditional coverings and planks in the coming future.
It is forecasted that growth in the gypsum board market depends upon development in the building construction sector, owing to its usage in the above mentioned fields. Attributing to extensive development in commercial and housing sectors, European countries and the U.S. are among the more significant consumers in the gypsum boards market. With the increasing demand to maintain better qualitative standards and living conditions in commercial, residential and industrial areas, the gypsum boards market is expected to grow substantially over the forecast period.
Gypsum Boards Market: Drivers and Restraints
One of the prevalent factors expected to drive growth of the gypsum board market is development in the construction sector, wherein gypsum boards are adopted as significant building materials. Gypsum boards are economic, easy to install, offer sound dampening properties; hence, can readily replace other materials used in construction, such as wood, bricks, plywood and others. This is expected to accelerate demand for the gypsum boards market over the forecast period.
Players involved in the construction of industrial, institutional, residential and commercial sectors are expected to enhance prospects for the gypsum boards market by opting for these boards while building partition walls, ceilings, and dividing screens systems.
However, fluctuation in the import pricing of raw materials from other countries, in terms of taxation may impede the gypsum boards market. Whereas, countries involved in the export business are expected to present a stable pricing scenario depending on macroeconomic traits.
Gypsum Boards Market: Segmentation
The gypsum boards market can be segmented on the basis of product type:
- Ceiling Board
- Interior Wall
- Exterior Wall
- Tile Base
- Accent Wall
- Movable Partition
The gypsum boards market can be segmented on the basis of application:
Gypsum Boards Market: Region-Wise Outlook
The gypsum boards market in developing countries, such as India, China, Malaysia, Brazil and many others is expected to grow, owing to the increasing demand for improved housing construction and enhanced living standards. Despite the gypsum boards market being well established in regions, such as the U.S., Germany and Italy, the market in emerging countries is anticipated to hold relatively more significant opportunities over the forecast period. Also, upsurge in urbanization and migration towards urban regions have led to an increase in investment in the gypsum boards market over the forecast period.
Over the coming years, the Middle East is expected to account for substantial growth in the global gypsum boards market, attributing to heavy investment in tourism and commercial infrastructure in the region. The Latin America region is anticipated to witness robust growth in the gypsum boards market, due to increasing expenditure in the residential construction sector over the forecast period.
South African nations are opting for innovative technologies over traditional methods in the infrastructure sector. Thus, the region is anticipated to observe increasing demand for gypsum boards, resulting to noteworthy scope for the gypsum boards market over the forecast period.
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Gypsum Boards Market: Market Participants
Examples of some of the market participants in the gypsum boards market, identified across the value chain are mentioned below:
- United Mining Industries
- Taishan Gypsum Co., Ltd.
- Baier Group Gypsum Decorative Building Materials Department
- Yoshino Gypsum Co., Ltd.
- Gulf Gypsum Board
- Georgia-Pacific Gypsum LLC
- Arcat, Inc.