Gypsum boards, also known as wallboards or plasterboards, directly attached to wooden or metal framing by using any convenient method. It consist of a non-combustible core, and employed as an aesthetic building material. It serves as an excellent fire-resistive building material, commonly used in interior finishes. It also prevents the transfer of undesirable sounds to the adjoining areas in a building. It is generally used for decorative purposes, owing to their availability in various textures, shapes and sizes, their cost-effectiveness and flexibility. The gypsum boards market offers light weight, fire resistant, durable, and sound control products that are extensively used for partitions, ceilings and walls in both, interiors and exterior of a building.
Gypsum plaster is a building white cementing material made by complete or partial dehydration of the mineral gypsum, usually with special retarders or hardeners added. It provides impact resistance & protection against moisture, fire, and vapors. The key advantages are included no shrinkage cracks, high productivity, no curing time required, quick setting time and smooth finish etc.
According to study, “Global Gypsum Boards and Gypsum Plaster Market Status (2015-2019) and Forecast (2020-2024) by Region, Product Type & End-Use” the key companies operating in the global gypsum boards and gypsum plaster market are China National Building Material Company Limited, BGC Plasterboard, Everest Industries Limited, CGC Inc., Jason plasterboard Co. Ltd., Chiyoda Ute Co. Ltd., Shri Giriraj Trading Co., Continental Building Products, USG Zawawi Drywall LLC SFZ, Georgia-Pacific, PABCO Building Products LLC, Global Gypsum Board Co LLC, VANS Gypsum Pvt. Ltd., Gypsum Factory, USG Corporation, LafargeHolcim, Saint-Gobain, Qatari Gypsum, VOLMA.
Based on product type, gypsum boards and gypsum plaster market is segmented into gypsum plaster and gypsum board. Gypsum plaster segment is further sub-segmented into manually applied plaster, finishes, machine-applied plaster, and others. Gypsum board segment includes wall board, pre-decorated boards, ceiling board and others. Wall boards segment is estimated to exhibit substantial growth rate due to their wide application area during the forecast period. Based on thickness, market is segmented into 1/2-inch, 5/8 inch and others. In addition, based on application, market is segmented into institutional sector, residential sector and others. The residential segment is estimated to witness higher CAGR because of rise in urban population and enhanced purchasing power during the forecast period.
The gypsum boards and gypsum plaster market is driven by rise in development in the construction sector, followed by rise in disposable income, growth in technological advancements, increase in demand for improved infrastructural facilities in both commercial and residential sectors, rapid industrialization and rise in adoption of gypsum boards as significant building materials. However, prone to water damage and fluctuation in the import pricing of raw materials may impact the market. Moreover, rise in awareness of consumers about environment-friendly & safer construction materials is a key opportunity for market. Furthermore, change in lifestyle of people has resulted in increasing preferences towards complicated & new ceiling designs coupled with high strength, high ductility, fire proofing and other properties are major trend for market.
Based on geography, the Asian-Pacific is a leading region in global gypsum boards and gypsum plaster market owing to rise in demand for improved housing construction and improved living standards in the region. The North-American and European regions are estimated to witness higher growth rate due to upsurge in urbanization coupled with migration towards urban regions over the forecast period. In upcoming years, it is anticipated that future of the market will be optimistic as a result of rise in expenditure in the residential construction sector during the forecast period.
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Ankur Gupta, Head Marketing & Communications