The global Gypsum Board Market was valued at USD 59.48 billion in 2024 and is projected to grow from USD 66.92 billion in 2025 to USD 171.70 billion by 2033, expanding at a robust Compound Annual Growth Rate (CAGR) of 8.50% during the forecast period from 2025 to 2033. The growth in the market is primarily driven by increased construction activities, growing demand for sustainable building materials, and technological advancements in gypsum board production.
Market Definition: Gypsum boards, commonly known as drywall or plasterboard, are a building material used in the construction industry for walls, ceilings, and partitions. They are made of a core of gypsum (a soft sulfate mineral) sandwiched between two layers of heavy paper. Gypsum boards are widely used for their fire-resistant properties, ease of installation, and versatility in interior design. The gypsum board market encompasses various types of boards, including standard, moisture-resistant, fire-resistant, and soundproof boards.
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Market Highlights:
- Market Size: The global Gypsum Board Market is expected to grow from USD 59.48 billion in 2024 to USD 171.70 billion by 2033, achieving a CAGR of 8.50% during the forecast period (2025–2033).
- Dominated Region: The Asia-Pacific region currently dominates the Gypsum Board Market due to large-scale construction activities, rapid urbanization, and demand for affordable housing in countries like China, India, and Japan.
- Fastest Growing Region: Europe is expected to be the fastest-growing region during the forecast period, driven by increasing investments in residential and commercial construction, along with rising demand for green and sustainable building materials.
Market Segmentation:
By Type:
- Standard Gypsum Board
- Moisture-Resistant Gypsum Board
- Fire-Resistant Gypsum Board
- Soundproof Gypsum Board
- Others
By Application:
- Residential
- Commercial
- Industrial
- Others
By End-Use:
- Walls
- Ceilings
- Partitions
- Others
By Distribution Channel:
- Direct Sales
- Distributors/Resellers
- Online Sales
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FAQs:
What is the current size of the Gypsum Board Market?
- The Gypsum Board Market was valued at USD 59.48 billion in 2024 and is projected to reach USD 66.92 billion in 2025, with an expected CAGR of 8.50% during the forecast period (2025–2033).
Which region dominates the Gypsum Board Market?
- The Asia-Pacific region dominates the Gypsum Board Market due to high construction activity and rapid urbanization in countries like China, India, and Japan.
Which region is growing the fastest in the Gypsum Board Market?
- Europe is the fastest-growing region, driven by increased construction and the demand for eco-friendly and sustainable building materials.
What are the major applications of Gypsum Boards?
- Gypsum Boards are widely used in residential, commercial, and industrial applications, with common uses in walls, ceilings, and partitions.
What are the key types of Gypsum Boards?
- Key types include standard gypsum boards, moisture-resistant boards, fire-resistant boards, and soundproof boards.
Who are the key players in the Gypsum Board Market?
- Major players in the market include Saint-Gobain, USG Corporation, Knauf, National Gypsum Company, Georgia-Pacific, and LafargeHolcim.
Key Players in the Gypsum Board Market:
- Saint-Gobain
- USG Corporation
- Knauf
- National Gypsum Company
- Georgia-Pacific
- LafargeHolcim
- Etex Group
- Armstrong World Industries
- Siniat
- Beijing New Building Material (Group) Co., Ltd.
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Conclusion: The global Gypsum Board Market is poised for significant growth over the coming years, driven by rapid urbanization, technological advancements in product development, and an increasing preference for sustainable construction materials. With a projected CAGR of 8.50%, the market presents lucrative opportunities for key players, particularly in the Asia-Pacific and European regions. The demand for specialized gypsum boards, such as fire-resistant and moisture-resistant variants, is expected to increase, further expanding the market potential. Straits Research’s comprehensive report provides valuable insights and detailed segmentation, aiding stakeholders in navigating this dynamic and growing market.