Drywall and Gypsum Board Market

Drywall and Gypsum Board Market Overview

Global Drywall and Gypsum Board Market acquired the significant revenue of 30.6 Billion in 2023 and expected to be worth around USD 54.9 Billion by 2033 with the CAGR of 6.0% during the forecast period of 2024 to 2033. The drywall and gypsum board market is one of the major parts of the construction and building materials markets and is propelled by the rising international construction endeavors. Gypsum boards commonly used in interior walling and ceiling are easily worked, offer good fire resistance, and require little fixing.

The need to construct new residential, commercial and institutional buildings is attracting consumers toward the market further the urbanization is also influence the growth of the market. There are thus additional factors including lightweight boards and environmentally friendly production methods that support product attraction. Also, guidelines from the government that encourage energy efficient and sustainable construction also create market for gypsum based products.

Drivers for the Drywall and Gypsum Board Market

Growing Construction Activities

Residential, commercial and industrial buildings have been on the rise globally because of increased population, the effects of economic growth, and improving urbanization. Due to increased migration towards urban centers, there are urgent needs for low cost housing for a growing population in emerging economies, modern commercial office space and factory buildings for an expanding business activities. Such development has become increasingly apparent in Asia-Pacific, Africa, and Latin America where governments and conservatisms are putting a lot of capital into large-scale infrastructure projects such as smart cities, transports systems and energy efficient buildings. Growing middle-income groups within these regions are already demanding better quality housing and commercial space which has an added advantage in boosting construction activities.

Restraints for the Drywall and Gypsum Board Market

Competition from Substitute Materials

The availability of alternative wall systems, such as fiber cement boards and wood-based panels, poses a significant challenge to the drywall and gypsum board market. Fiber cement boards, known for their durability, moisture resistance, and low maintenance, are often preferred in exterior applications or areas with high humidity, such as bathrooms and kitchens. Similarly, wood-based panels, including plywood and oriented strand boards (OSB), are valued for their aesthetic appeal, structural strength, and versatility in design. These alternatives are gaining traction due to their specialized applications, competitive pricing, and growing adoption in modular and prefabricated construction methods.

Opportunity in the Drywall and Gypsum Board Market

Increased Renovation Activities

The growing interest in home renovation and remodeling projects has become a key driver for the drywall and gypsum board market. This trend is fueled by several factors, including the aging of existing residential structures, a desire for modernized and energy-efficient interiors, and the increasing popularity of DIY home improvement. Homeowners are investing in aesthetic upgrades, functional improvements, and space optimization, often turning to drywall and gypsum boards for their versatility, cost-effectiveness, and ease of installation.

Moreover, rising disposable incomes, particularly in developed and emerging economies, allow consumers to allocate more funds toward home improvement. The surge in remote work and hybrid work models has also spurred renovations, as individuals seek to create comfortable and productive home office spaces.

Trends for the Drywall and Gypsum Board Market

Focus on Fire-Resistant and Moisture-Resistant Boards

The demand for specialized gypsum boards is rising in regions characterized by extreme weather conditions or stringent safety codes. In areas prone to high humidity, heavy rainfall, or temperature fluctuations, moisture-resistant and weatherproof gypsum boards are essential to prevent structural damage and maintain indoor air quality. Similarly, in regions with strict fire safety regulations, fire-resistant boards are gaining popularity due to their ability to enhance building safety and compliance with local codes.

Earthquake-prone areas are also driving demand for impact-resistant boards that can withstand structural stresses. Additionally, government mandates and industry standards in developed countries increasingly require the use of sustainable, high-performance materials to ensure durability, energy efficiency, and occupant safety.

Segments Covered in the Report

By Product

o   Wallboard

o   Pre-decorated Board

o   Ceiling Board

By End-User

o   Residential

o   Non-Residential

Segment Analysis

By Product Analysis

On the basis of product, the market is divided into wallboard, pre-decorated board, and ceiling board. Among these, wallboard segment acquired the significant share in the market owing to its widespread use and essential role in the construction of both residential and commercial buildings. Wallboards, typically made of gypsum, are primarily used for creating interior partitions and walls due to their affordability, ease of installation, and versatility. The demand for wallboards is driven by the growing construction industry, particularly in developing economies where urbanization is rapidly increasing. Additionally, their ability to offer fire resistance, soundproofing, and moisture control features makes them a preferred choice for a variety of building types.

By End-User Analysis

On the basis of end-user, the market is divided into residential and non-residential. Among these, residential segment held the prominent share of the market due to the continued growth in housing demand and the increasing trend of homeownership across various regions. Rising urbanization, higher disposable incomes, and the desire for modern, comfortable living spaces contribute to the growing construction of residential properties, including single-family homes, multi-family units, and apartments. Additionally, the popularity of home renovation and remodeling projects, driven by aesthetic improvements and functionality enhancements, boosts the demand for drywall and gypsum boards in residential settings.

Regional Analysis

North America Dominated the Market with the Highest Revenue Share

North America held the most of the share of 32.1% of the market due to its robust construction industry and widespread adoption of advanced building materials. The region's mature residential and commercial sectors, combined with increasing renovation and remodeling activities, drive consistent demand for gypsum-based products. Stringent building codes and safety standards, particularly concerning fire resistance and energy efficiency, further bolster the adoption of high-performance gypsum boards.

The growing trend of sustainable construction practices and government incentives for green building projects also contribute to the market's growth. Additionally, the presence of well-established manufacturers, extensive distribution networks, and continuous product innovation, such as moisture-resistant and soundproof boards, solidify North America's leadership in the market.

Competitive Analysis

The drywall and gypsum board market is highly competitive, with a mix of global and regional players striving to strengthen their market presence. Key players such as Saint-Gobain, USG Corporation, Knauf Gips KG, and Etex Group dominate the industry through extensive product portfolios, strong distribution networks, and ongoing innovation in gypsum-based solutions. These companies invest heavily in research and development to introduce advanced products like lightweight, fire-resistant, and eco-friendly boards to cater to evolving customer needs and regulatory demands.

Recent Developments

   In October 2022, USGKnauf announced plans to establish a new gypsum wallboard mill in Huedin, Cluj County. This investment is expected to support the Romanian government's "energy savings offensive" by funding an initiative aimed at renovating the country's housing stock.

Key Market Players in the Drywall and Gypsum Board Market

o   Gulf Gypsum Co.

o   USG Zawawi Drywall LLC SFZ

o   Mining Co. LLC

o   Lafarge Group

o   Knauf Middle East

o   Etex Group

o   Saint - Gobain Gyproc India Ltd

o   Yoshino Gypsum Co. Ltd.

o   Supress Products, LLC

o   Winstone Wallboards Limited

o   Gyptec Iberica

o   Supress Products, LLC

o   Other Key Players