San Francisco, 17 Dec 2018 - “Gypsum Board Market Analysis By Product (Wallboard, Ceiling & Pre-decorated Board) By End-Use (Pre-Engineering Metal Buildings, Residential, Industrial, Commercial, Institutional), And Segment Forecasts, 2018 – 2025”, According to a report by Grand View Research, Inc.; the global gypsum board market is projected to be valued at USD 79.17 billion by 2025. Exponential rise in rural to urban migration coupled with rapid economic growth in Asia Pacific and Gulf Cooperation Council (GCC) countries is anticipated to drive the market. Moreover, tremendous development in manufacturing and construction sectors can further propel market growth over the forecast period (2014 to 2025).
Rapid pace of industrialization is driving construction activities in emerging economies. This factor is projected to propel growth of the market for gypsum board. Rising necessity to meet high demand for residential accommodation across urban areas is expected to further fuel market expansion in the forthcoming years. Rising investments in construction sector by foreign corporations, companies, and governments can further stimulate the demand. Moreover, increasing disposable income and standard of living is projected to impel demand for better infrastructure. This factor is anticipated to positively influence growth of market over the forecast period.
The worldwide gypsum board market can be segregated on the basis of product, end-use, and region. Based on product, the market can be categorized into ceiling, wallboard, pre-decorated board, and others. In 2016, the wall board segment dominated with 54% market share in terms of volume. This can be attributed to primary application of wallboards as interior surfacing in buildings. These boards are available in various sizes based on thickness. In addition, shifting from fiber board, plywood, and hard board among other conventional materails in commercial and residential buildings can stimulate the demand.
Ceiling board segment is anticipated to expand at the fastest CAGR during the forecast period. The ability of these materials to offer better sound and thermal insulation can propel its demand. In addition, rising commercial and hotel construction activities demanding ceiling panels can further fuel the growth over the forecast period. Pre-decorated boards are used in construction projects due to properties like easy installation and low maintenance. In addition, such boards can also be used in commercial applications owing to stability and ability to retain color to surfaces. This factor is projected to bode well for the segment growth in near future.
Based on end-use, the market for gypsum board can be classified into residential, industrial, commercial, institutional, and pre-engineered metal buildings. In 2016, residential segment held the dominant market share of 43% in terms of revenue. Rising focus on affordable housing and boom in real estate sector coupled with government support can drive demand for gypsum boards from GCC countries. In 2016, the segment witnessed around 18% growth in the region.
Pre-engineered metal buildings are gaining popularity owing to low maintenance cost, and easy installation and transportation. Continual technological advancements offering computerized designs and custom-built solutions can boost growth of the segment over the forecast period. In United States, around 60% of non-residential buildings are Pre-Engineered Buildings (PEBs). The high performance materials have gained popularity in the U.S. The demand for pre-engineered buildings in India is projected to witness nearly 25% growth rate over the forecast period, wherein this concept is relatively new.
Regional segmentation includes Europe, North America, Asia Pacific, Latin America, and Middle East & Africa. Leading companies from North America and Europe are moving their manufacturing capacities to other parts of the world with high potential markets. For instance, availability of cheap labor and abundance of raw materials is creating business opportunities in Asia Pacific.
In 2016, Asia Pacific held the dominant market share of 44% in terms of volume. China produced more than 1.30 million metric tons of gypsum boards in 2016. Rising demand from commercial construction sector can drive the regional demand. In India and Thailand, growing need for housing construction in semi-urban and rural areas is projected to stimulate regional market growth during the forecast period.
Middle East is predicted to witness steady growth over the forecast period attributed to rising demand from Jordan, Oman, and Qatar. In addition, focus on expansion of production capabilities in emerging economies can further propel regional growth.
Some of the leading companies operating in the gypsum board market are Knauf Dubai, Global Mining Company LLC, Gypsemna, Lafarge, and Saint Gobain Gyproc. The market is fragmented in nature attributed to functional imbalance across regional markets. Big companies are adopting business strategies like mergers and acquisitions to maintain their market position.
Access More Reports Of The Same Category: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the global gypsum board market on the basis of product, end-use and region:
Gypsum Board Product Outlook (Volume, Million Square Meters; Revenue, USD Million; 2014 - 2025)
- Wallboard
- Ceiling board
- Pre-decorated board
- Others
Gypsum Board End-Use Outlook (Volume, Million Square Meters; Revenue, USD Million; 2014 - 2025)
- Pre-engineered Metal Buildings
- Residential
- Industrial
- Commercial
- Institutional
Gypsum Board Regional Outlook (Volume, Million Square Meters; Revenue, USD Million; 2014 - 2025)
- North America
- US.
- Canada
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Bahrain
- Kuwait
- Qatar
- Oman
- Saudi Arabia
- UAE
- Jordan
- Iraq
- Iran
- Egypt
- Syria
- Turkey
- Libya
- Sudan
Browse Press Release of this Report: www.grandviewresearch.com/press-release/global-gypsum-board-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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