Gypsum & Drywall Market Expected to Reach $51.9 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Gypsum & Drywall Market," The gypsum & drywall market size was valued at $29.3 billion in 2022, and is estimated to reach $51.9 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

Gypsum and drywall are essential materials in the construction industry, widely used for interior walls, ceilings, and partitions. Gypsum is a naturally occurring mineral composed of calcium sulfate dihydrate, while drywall, also known as gypsum board or plasterboard, is a panel made by sandwiching a layer of gypsum between two paper sheets.    

The increase in demand for sustainable and eco-friendly construction materials to construct commercial and residential structures all over the world is driving the gypsum board market growth. Apart from that, gypsum is made from gyprock, which is a natural and sustainable substance. Furthermore, the growing development of various green buildings and smart cities throughout the world to save energy and minimize overuse of natural resources is boosting the Gypsum & Drywall Market Share expansion.

However, the disposal of gypsum board residue in landfills can cause environmental issues owing to the breakdown of sulfate in the gypsum into poisonous hydrogen sulfide under certain conditions. This has become a major environmental concern across the world. Furthermore, gypsum in drywall can degrade clay liners used by waste management businesses, allowing toxins to flow into water systems. All these factors are anticipated to restrict the market growth during the forecast period. Therefore, extra measures are required at landfills to prevent these threats to the environment, public health, and safety.

The commercial and infrastructural sectors constitute two of the most major industries that use drywall and gypsum boards. Gypsum is used in the manufacture of drywall, glassware, ceramics, plasters, paints, and adhesives used in the construction of roofs, walls, ceilings, and floors in commercial, residential, industrial, and institutional structures. It is also used to manage cement settings and avoid flash settings. Drywall and gypsum boards are regarded as acceptable building materials due to their sustainability. Many building projects are being planned and carried out in developing economies. Thus, increase in building activity is expected to drive demand for drywall and gypsum boards, propelling the gypsum & drywall market growth during the forecast period.

The gypsum & drywall market analysis is segmented based on product, end user, thickness, and region. By product, it is classified into wallboard, ceiling board, pre-decorated board, and others. By end user, it is classified into commercial and residential. By thickness, it is classified into 1/2 inch, 5/8 inch, and more than 5/8 inch. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The key players profiled in the gypsum & drywall market analysis oerview report include Saint-Gobain, USG Corporation., TECNI-GYPSUM, NATIONAL GYPPSUM (NGC), Knauf Gips KG, GYPLAC SA, BEIJING NEW BUILDINGS MATERIAL (GROUP) CO. LTD., American Gypsum Company LLC, Lafarge Group, and Global Mining Company LLC (GMC).

The report offers a comprehensive analysis of the global gypsum & drywall market trends by thoroughly studying different aspects of the market including major segments, market statistics, market dynamics, regional market outlook, investment opportunities, and top players working towards the growth of the market. The report also highlights the present scenario and upcoming trends & developments that are contributing toward the growth of the market. Moreover, restraints and challenges that hold power to obstruct the market growth are also profiled in the report along with the Porter’s five forces analysis of the market to elucidate factors such as competitive landscape, bargaining power of buyers and suppliers, threats of new players, and emergence of substitutes in the market.

Impact of COVID-19 on the Global Gypsum & Drywall Industry

• The COVID-19 pandemic had a substantial impact on the gypsum and drywall industry. During the initial outbreak, construction activities faced significant disruptions due to lockdowns, supply chain disruptions, and labor shortages. Many construction projects were put on hold or delayed, leading to reduced demand for gypsum and drywall products.
• The economic uncertainties caused by the pandemic also resulted in reduced investments in new construction projects, affecting market growth. With businesses temporarily closing or transitioning to remote work, the demand for office spaces and commercial buildings decreased, further impacting the demand for gypsum and drywall in the commercial sector.
• Manufacturers and suppliers faced challenges in ensuring the safety of their workforce while maintaining production. This led to a slowdown in manufacturing and distribution activities, causing supply chain disruptions and shortages of gypsum and drywall materials in some regions.

Key Findings of the Study

• Based on product, the wallboard sub-segment emerged as the global leader in 2022 and the pre-decorated board sub-segment is anticipated to be the fastest growing during the forecast period.
• Based on end user, the residential sub-segment emerged as the global leader in 2022 and the commercial sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on thickness, the 1/2 inch sub-segment emerged as the global leader in 2022 and the 5/8 inch sub-segment is predicted to show the fastest growth in the upcoming years.
• Based on region, North America registered the highest market share in 2022 and Asia-Pacific is predicted to show the fastest growth in the upcoming years.