Global gypsum board market was worth more than USD 21.7 billion in 2015. Increasing investment in the construction sector, particularly in the emerging economies such as China, Brazil, India, and South Africa is expected to drive the gypsum board market in the near future.
Gypsum board also known as drywall is adapted widely owing to several properties which include sound attenuation, fire resistance, and durability. Major applications include surface layer for ceilings and interior walls, base for plastic, metal tiles, and ceramic, elevator as well as other shaft enclosures, fire protection, and exterior soffits.
Shift in consumer preferences has been observed in the emerging markets such as Asia Pacific, Latin America, and Middle East & Africa towards innovative architectural designs from traditional structures. Moreover, rapid urbanization has led to economic growth coupled with greater migration to urban areas from rural areas. These factors are estimated to drive the residential construction industry complementing the growth for the gypsum board market over the next eight year period.
Production landscape has witnessed a shift toward Asian countries in the recent past which includes India and China. Thus, this factor is expected to increase the demand for improved industrial infrastructure in the Asia Pacific region.
Product prices are critically dependent on the raw material prices. The raw material importing countries are estimated to witness an increase in price over the forecast period and are significantly influenced by the local taxation regime. The exporting countries are projected to experience a steady pricing situation owing to macroeconomic factors.
Gypsum supply shortage in over the forecast period is likely to be overcome by capacity expansion in China and Oman. Increasing demand for drywall and cement products, which consume the same raw materials, is expected to hinder the market.
Rapid growth in residential construction in emerging economies which include China, Mexico, Brazil, and India is expected to fuel the demand for the market. Mature markets are presumed to witness positive growth over the forecast period due to development and innovation initiatives.
Wallboard product has application in malls, shops, and office construction as wall partitions. It gradually gained popularity as a superior substitute to traditional plaster and lath products in the recent past. Gypsum board is being adapted across commercial and residential construction equally and is expected to witness a similar trend in the near future.
Ceiling board is presumed to experience increased demand from institutional, residential, and commercial sectors. Gypsum board is a superior substitute to PVC which is used as ceiling panel material and accounted for more than one-fifth of the overall volume in 2015. Product improvement to add properties which include impact strength, thermal insulation, and moisture resistance is presumed to increase the products ability for growth in the near future.
Pre-decorated boards are anticipated to gain popularity as an internal substitute for several wallboard products due to their versatility. These boards have either painted or printed decorative surfaces and don’t require any other treatment. Ease in assembling and versatile customization scope according to end-user preferences is estimated to propel pre-decorated boards growth over the eight year period.
Residential segment emerged as the major sector with gypsum board volume estimated at over 5.30 billion sq. meters in 2015. These products have conventionally found usage in residents construction application more than non-residential construction. Several residential real estate sector projects in the U.S. and large-scale residential developments across emerging economies in Latin America and Asia is presumed to drive the market growth.
Commercial construction sector is estimated to witness average growth opportunities in the near future. The major development is presumed to stem from growing awareness among infrastructure developers regarding the benefits related to drywall products usage compared to conventional materials used for construction. Increase in acoustic and thermal insulation requirement for commercial structures such as theaters, malls, shops and food centers is expected to be the primary driver over the forecast period.
Asia Pacific accounted for more than 43.7% of the total volume in 2015 due to growth in construction sector in China, Vietnam, Malaysia, India, Thailand, and Indonesia. Due to increased development & employment with rapid urban migration and industrialization is expected to further propel the demand in these regions over the forecast period.
Middle East & Africa and Central & South America collectively accounted for over 10% of the total volume in 2015. These regions are influenced by an increase in construction spending and brisk economic growth. Infrastructure development in countries such as Colombia, Uruguay, Brazil, Peru, and Cuba are presumed to drive the Central & South America market growth.
Global gypsum board industry is highly fragmented in nature owing to the numerous small scale manufacturers existence. Prominent industry players include Knauf Dubai, USG-Zawawi LLC, Global Mining Company LLC, Saint-Gobain Gyproc, Lafarge, Gypsemna, Etex Group, Gulf Gypsum Co., and Taishan Gypsum Co.
Research Support Specialist, USA