Global Gypsum and Drywall Market Size, Share, Analysis Report - Forecast 2032

Gypsum and Drywall Market Insights

As per the published report by Market Research Store, the Global Gypsum and Drywall Market size was estimated at USD 31.82 Billion in 2023 and is anticipated to reach reach USD 58.27 Billion by 2032, growing at a projected CAGR of 6.2% during the forecast period 2024-2032. The report provides a detailed analysis of the global Gypsum and Drywall Market, including market trends, market dynamics, and market opportunities during the forecast period (2024-2032). It delves deeper into several market facets, such as market definition, size, growth, forecast, segmentation, competitive analysis, growth drivers, restraints, financial analysis, SWOT analysis, PORTER’s five force analysis, PESTEL analysis, market share analysis, cost-benefit analysis, challenges, restraints, strategic recommendations, and market players.

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Gypsum and Drywall Market: Overview

The growth of the gypsum and drywall market is fueled by rising global demand across various industries and applications. The report highlights lucrative opportunities, analyzing cost structures, key segments, emerging trends, regional dynamics, and advancements by leading players to provide comprehensive market insights. The gypsum and drywall market report offers a detailed industry analysis from 2024 to 2032, combining quantitative and qualitative insights. It examines key factors such as pricing, market penetration, GDP impact, industry dynamics, major players, consumer behavior, and socio-economic conditions. Structured into multiple sections, the report provides a comprehensive perspective on the market from all angles.

Key sections of the gypsum and drywall market report include market segments, outlook, competitive landscape, and company profiles. Market Segments offer in-depth details based on Product, End-User, Thickness, and other relevant classifications to support strategic marketing initiatives. Market Outlook thoroughly analyzes market trends, growth drivers, restraints, opportunities, challenges, Porter’s Five Forces framework, macroeconomic factors, value chain analysis, and pricing trends shaping the market now and in the future. The Competitive Landscape and Company Profiles section highlights major players, their strategies, and market positioning to guide investment and business decisions. The report also identifies innovation trends, new business opportunities, and investment prospects for the forecast period.

Key Highlights:

• As per the analysis shared by our research analyst, the global gypsum and drywall market is estimated to grow annually at a CAGR of around 6.2% over the forecast period (2024-2032).
• In terms of revenue, the global gypsum and drywall market size was valued at around USD 31.82 Billion in 2023 and is projected to reach USD 58.27 Billion by 2032.
• The market is projected to grow at a significant rate due to rising vehicle production, demand for lightweight and ergonomic designs, advancements in safety and comfort technologies, and growing preference for premium and electric vehicles.
• Based on the Product, the Wallboard segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• On the basis of End-User, the Commercial segment is anticipated to command the largest market share.
• In terms of Thickness, the More than 5/8 Inch segment is projected to lead the global market.
• Based on region, North America is projected to dominate the global market during the forecast period.

Gypsum and Drywall Market: Report Scope

This report thoroughly analyzes the gypsum and drywall market, exploring its historical trends, current state, and future projections. The market estimates presented result from a robust research methodology, incorporating primary research, secondary sources, and expert opinions. These estimates are influenced by the prevailing market dynamics as well as key economic, social, and political factors. Furthermore, the report considers the impact of regulations, government expenditures, and advancements in research and development on the market. Both positive and negative shifts are evaluated to ensure a comprehensive and accurate market outlook.

Gypsum and Drywall Market: Dynamics

Key Growth Drivers

The Gypsum and Drywall market in India is experiencing substantial growth, primarily fueled by the rapid expansion of the construction sector, including residential, commercial, and industrial buildings, driven by urbanization and infrastructure development. The increasing preference for drywall systems over traditional brick and plaster walls due to their faster installation, smoother finish, lightweight nature, and design flexibility is a significant driver. Furthermore, the growing awareness of the benefits of gypsum board in terms of fire resistance, thermal insulation, and acoustic performance is boosting its adoption in both new constructions and renovations. The rising disposable incomes and changing lifestyles are also contributing to increased demand for better interior finishes and aesthetically pleasing spaces, where drywall plays a crucial role. Government initiatives promoting affordable housing and infrastructure projects further support market growth.

Restraints

Despite the strong growth drivers, the Gypsum and Drywall market in India faces certain restraints. The higher initial cost of drywall systems compared to traditional plastering can be a barrier for price-sensitive consumers and smaller construction projects, particularly in rural areas. A lack of skilled applicators and installers who are proficient in handling and finishing drywall can lead to quality issues and hinder wider adoption. Furthermore, concerns about the durability and susceptibility of drywall to moisture damage in wet areas or during monsoon seasons can limit its use in certain applications and regions of India. The fragmented nature of the construction industry with a large number of small contractors who may not be familiar with or prefer traditional methods also poses a challenge. Fluctuations in the prices of raw materials like gypsum and paper can impact manufacturing costs and market pricing.

Opportunities

The Gypsum and Drywall market in India presents numerous opportunities for innovation and expansion. The development of moisture-resistant and fire-retardant gypsum board variants can address specific application needs and overcome some of the current limitations. The increasing focus on sustainable building materials creates opportunities for promoting the recyclability and environmental benefits of gypsum. Furthermore, the growing demand for acoustic solutions in commercial and residential buildings can drive the adoption of specialized sound-insulating drywall systems. The potential for offering value-added services such as design consultation, installation training, and project management can enhance customer value and drive sales. The expansion of the prefabricated construction sector can further boost the demand for drywall as a key component in modular building systems.

Challenges

The Gypsum and Drywall market in India faces challenges related to educating consumers and contractors about the long-term benefits and proper application techniques for drywall systems. Ensuring the availability of skilled labor for installation and finishing through training programs and skill development initiatives is crucial. Furthermore, managing the supply chain and distribution network to ensure timely availability of products across the vast and geographically diverse Indian market can be complex. Addressing the price sensitivity of the market while offering high-quality and durable products requires efficient manufacturing and cost management. Keeping pace with evolving building codes and standards related to fire safety, acoustics, and energy efficiency necessitates continuous product innovation and adaptation. Finally, competing with well-established traditional construction methods requires demonstrating the clear advantages of gypsum and drywall in terms of speed, quality, and overall project efficiency.

Gypsum and Drywall Market: Segmentation Insights

The global gypsum and drywall market is segmented based on Product, End-User, Thickness, and Region. All the segments of the gypsum and drywall market have been analyzed based on present & future trends and the market is estimated from 2024 to 2032.

Based on Product, the global gypsum and drywall market is divided into Wallboard, Ceiling Board, Pre-decorated Board, Others.

On the basis of End-User, the global gypsum and drywall market is bifurcated into Commercial, Residential.

In terms of Thickness, the global gypsum and drywall market is categorized into More than 5/8 Inch, 1/2 Inch, 5/8 Inch.

Gypsum and Drywall Market: Regional Insights

The Asia-Pacific (APAC) region dominates the global gypsum and drywall market, holding the largest revenue share (47% in 2024) and projected to grow at the highest CAGR (6.5%–8.5%) through 2035, driven by rapid urbanization, infrastructure development, and government-led housing initiatives in China, India, and Southeast Asia. China alone accounts for 78% of APAC's market, fueled by massive construction projects like prefabricated housing and smart cities, while India’s "Housing for All" program and $1.3 trillion housing investment further propel demand.

North America follows as the second-largest market, led by the U.S. (79% regional share), where renovation activities and sustainable building trends boost demand for fire-resistant and recycled gypsum boards. Europe remains a key player, with France and Germany driving growth through stringent green building regulations and high gypsum recycling rates (exceeding 90% in some regions).

APAC's dominance is reinforced by low-cost housing schemes, abundant natural gypsum reserves, and rising adoption of synthetic gypsum to meet environmental standards. Meanwhile, North America and Europe focus on technological advancements, such as lightweight and carbon-neutral gypsum products, to align with sustainability goals.

Key challenge: APAC faces environmental concerns from illegal mining, while North America and Europe grapple with raw material price volatility. Opportunities lie in synthetic gypsum adoption and modular construction trends, with APAC expected to maintain its lead due to unmet urban housing demands

Gypsum and Drywall Market: Competitive Landscape

The gypsum and drywall market report offers a thorough analysis of both established and emerging players within the market. It includes a detailed list of key companies, categorized based on the types of products they offer and other relevant factors. The report also highlights the market entry year for each player, providing further context for the research analysis.

The "Global Gypsum and Drywall Market" study offers valuable insights, focusing on the global market landscape, with an emphasis on major industry players such as;

• Saint-Gobain
• American Gypsum Company LLC
• Global Mining Company LLC (GMC)
• TECNI-GYPSUM
• USG Corporation.
• Lafarge Group
• BEIJING NEW BUILDINGS MATERIAL (GROUP) CO. LTD.
• NATIONAL GYPPSUM (NGC)
• Knauf Gips KG
• GYPLAC SA

The Global Gypsum and Drywall Market is Segmented as Follows:

By Product

• Wallboard
• Ceiling Board
• Pre-decorated Board
• Others

By End-User

• Commercial
• Residential

By Thickness

• More than 5/8 Inch
• 1/2 Inch
• 5/8 Inch

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Market Evolution

This section evaluates the market position of the product or service by examining its development pathway and competitive dynamics. It provides a detailed overview of the product's growth stages, including the early (historical) phase, the mid-stage, and anticipated future advancements influenced by innovation and emerging technologies.

Porter’s Analysis

Porter’s Five Forces framework offers a strategic lens for assessing competitor behavior and the positioning of key players in the gypsum and drywall industry. This section explores the external factors shaping competitive dynamics and influencing market strategies in the years ahead. The analysis focuses on five critical forces:

• Competitive Rivalry
• Threat of New Entrants
• Threat of Substitutes
• Supplier Bargaining Power
• Buyer Bargaining Power

Value Chain & Market Attractiveness Analysis

The value chain analysis helps businesses optimize operations by mapping the product flow from suppliers to end consumers, identifying opportunities to streamline processes and gain a competitive edge. Segment-wise market attractiveness analysis evaluates key dimensions like product categories, demographics, and regions, assessing growth potential, market size, and profitability. This enables businesses to focus resources on high-potential segments for better ROI and long-term value.

PESTEL Analysis

PESTEL analysis is a powerful tool in market research reports that enhances market understanding by systematically examining the external macro-environmental factors influencing a business or industry. The acronym stands for Political, Economic, Social, Technological, Environmental, and Legal factors. By evaluating these dimensions, PESTEL analysis provides a comprehensive overview of the broader context within which a market operates, helping businesses identify potential opportunities and threats.

• Political factors assess government policies, stability, trade regulations, and political risks that could impact market operations.
• Economic factors examine variables like inflation, exchange rates, economic growth, and consumer spending power to determine market viability.
• Social factors explore cultural trends, demographics, and lifestyle changes that shape consumer behavior and preferences.
• Technological factors evaluate innovation, R&D, and technological advancements affecting product development and operational efficiencies.
• Environmental factors focus on sustainability, climate change impacts, and eco-friendly practices shaping market trends.
• Legal factors address compliance requirements, industry regulations, and intellectual property laws impacting market entry and operations.

Import-export Analysis & Pricing Analysis

An import-export analysis is vital for market research, revealing global trade dynamics, trends, and opportunities. It examines trade volumes, product categories, and regional competitiveness, offering insights into supply chains and market demand. This section also analyzes past and future pricing trends, helping businesses optimize strategies and enabling consumers to assess product value effectively.

Gypsum and Drywall Market: Company Profiles

The report identifies key players in the gypsum and drywall market through a competitive landscape and company profiles, evaluating their offerings, financial performance, strategies, and market positioning. It includes a SWOT analysis of the top 3-5 companies, assessing strengths, weaknesses, opportunities, and threats. The competitive landscape highlights rankings, recent activities (mergers, acquisitions, partnerships, product launches), and regional footprints using the Ace matrix. Customization is available to meet client-specific needs.

Regional & Industry Footprint

This section details the geographic reach, sales networks, and market penetration of companies profiled in the gypsum and drywall report, showcasing their operations and distribution across regions. It analyzes the alignment of companies with specific industry verticals, highlighting the industries they serve and the scope of their products and services within those sectors.

Ace Matrix

This section categorizes companies into four distinct groups—Active, Cutting Edge, Innovator, and Emerging—based on their product and business strategies. The evaluation of product strategy focuses on aspects such as the range and depth of offerings, commitment to innovation, product functionalities, and scalability. Key elements like global reach, sector coverage, strategic acquisitions, and long-term growth plans are considered for business strategy. This analysis provides a detailed view of companies' position within the market and highlights their potential for future growth and development.

Research Methodology

The qualitative and quantitative insights for the gypsum and drywall market are derived through a multi-faceted research approach, combining input from subject matter experts, primary research, and secondary data sources. Primary research includes gathering critical information via face-to-face or telephonic interviews, surveys, questionnaires, and feedback from industry professionals, key opinion leaders (KOLs), and customers. Regular interviews with industry experts are conducted to deepen the analysis and reinforce the existing data, ensuring a robust and well-rounded market understanding.

Secondary research for this report was carried out by the Market Research Store team, drawing on a variety of authoritative sources, such as:

• Official company websites, annual reports, financial statements, investor presentations, and SEC filings
• Internal and external proprietary databases, as well as relevant patent and regulatory databases
• Government publications, national statistical databases, and industry-specific market reports
• Media coverage, including news articles, press releases, and webcasts about market participants
• Paid industry databases for detailed market insights

Market Research Store conducted in-depth consultations with various key opinion leaders in the industry, including senior executives from top companies and regional leaders from end-user organizations. This effort aimed to gather critical insights on factors such as the market share of dominant brands in specific countries and regions, along with pricing strategies for products and services.

To determine total sales data, the research team conducted primary interviews across multiple countries with influential stakeholders, including:

• Distributors
• Marketing, Brand, and Product Managers
• Procurement and Production Managers
• Sales and Regional Sales Managers, Country Managers
• Technical Specialists
• C-Level Executives

These subject matter experts, with their extensive industry experience, helped validate and refine the findings. For secondary research, data was sourced from a wide range of materials, including online resources, company annual reports, industry publications, research papers, association reports, and government websites. These various sources provide a comprehensive and well-rounded perspective on the market.

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