Rising Trend of Remodeling and Renovating Both Residential and Commercial Buildings Is Another Factor Driving Market Revenue Growth.
The size of the Worldwide Gypsum Board Market was USD 24,380 Million in 2022 and is projected to reach USD 41,189.5 Million by 2032, experiencing a robust revenue CAGR of 6% throughout the forecast period. The significant drivers for the market’s revenue growth are the escalating construction activities, the increasing pace of urbanization, and the rapid expansion in the building & construction sector. Gypsum Boards are gaining popularity in both commercial and residential construction due to their cost-effectiveness, lightweight nature, and ease of installation.
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Gypsum Board Market Competitive landscape:
The global Gypsum Board market is characterized by intense competition and fragmentation, with numerous companies actively operating within the industry. To gain a competitive edge and expand their market presence, major players in the Gypsum Board market are employing diverse strategies. These strategies include mergers and acquisitions, establishing strategic agreements and contracts, and focusing on the development of innovative products that cater to evolving customer demands. Among the key players making significant contributions to the global Gypsum Board market are:
- Knauf Gips KG: Knauf Gips KG is a prominent player in the Gypsum Board market known for its expertise in manufacturing high-quality building materials. The company’s commitment to innovation and sustainability has allowed it to establish a strong global presence and offer a wide range of Gypsum Board products to meet the varying needs of customers.
- Saint-Gobain S.A.: Saint-Gobain S.A. is a leading multinational corporation recognized for its diverse portfolio of construction materials, including Gypsum Board solutions. With a rich history and extensive industry experience, the company has built a reputation for delivering reliable and innovative Gypsum Board products to the market.
- USG Corporation: USG Corporation is a well-established name in the Gypsum Board industry, known for its comprehensive range of building products and solutions. Through continuous research and development efforts, the company has been at the forefront of introducing cutting-edge Gypsum Board technologies and systems.
- National Gypsum Company: National Gypsum Company has made significant contributions to the Gypsum Board market with its exceptional product offerings and commitment to customer satisfaction. As one of the leading manufacturers in the industry, the company’s dedication to quality and performance has earned it a strong position in the global market.
These major players, along with others in the Gypsum Board market, are instrumental in driving innovation, fostering competition, and contributing to the overall growth and development of the industry. Their efforts in developing advanced Gypsum Board solutions play a crucial role in meeting the evolving construction demands and shaping the future of the global Gypsum Board market.
Gypsum Board Market Segments:
The Gypsum Board Market Report encompasses various parameters providing detailed insights into the industry. In 2022, the market size was valued at USD 24,380 Million, and it is projected to experience a Compound Annual Growth Rate (CAGR) of 6% from 2022 to 2032. By 2032, the forecast indicates the market’s revenue to reach USD 41,189.5 Million.
The report’s estimation is based on data from the years 2020 to 2021, making 2022 the base year for the analysis. The forecast period for the study spans from 2022 to 2032, during which the revenue will be measured in USD Billion as the quantitative unit.
The primary focus of the report includes comprehensive coverage of key aspects such as revenue forecasts, company rankings, competitive landscape analysis, growth factors, and emerging trends within the Gypsum Board market. The report delves into an in-depth analysis of various segments based on Product Type Outlook and Application Outlook.
Under Product Type Outlook, the segments covered are Standard, Fire-Resistant, Moisture-Resistant, Sound-Insulated, and Others. These categories represent the diverse range of Gypsum Board products available in the market.
Regarding Application Outlook, the report examines three major segments: Residential, Commercial, and Industrial. This analysis sheds light on the different areas where Gypsum Boards find extensive usage.
The geographical scope of the report spans across key regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. These regions are crucial for understanding the global dynamics and market opportunities.
Overall, the Gypsum Board Market Report provides a comprehensive analysis, giving stakeholders valuable insights into the market’s performance, growth prospects, and competitive landscape. The data presented enables a better understanding of the industry’s current and future state, aiding companies in making informed decisions and capitalizing on emerging trends.
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Gypsum Board Market Strategic Developments:
- In 2021, Saint-Gobain S.A. launched a new Gypsum Board called Habito. This Gypsum Board can hold up to 15 kg of weight with just one screw, making it suitable for hanging heavy items without the need for additional support. Habito also provides excellent acoustic insulation and fire resistance, making it an ideal choice for construction projects.
- In 2020, Knauf Gips KG acquired USG Corporation, a leading manufacturer of Gypsum Board and other building materials, for $7 billion. The acquisition was aimed at expanding Knauf’s product offerings in the North American market and strengthening its position as a global leader in the Gypsum Board industry.
- In 2020, Boral Limited announced that it had entered into a joint venture agreement with USG Corporation to produce Gypsum Board in Asia. The joint venture aimed to leverage Boral’s strong presence in the Asia-Pacific region and USG’s expertise in manufacturing Gypsum Board to expand their market reach.
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