Drywall and Gypsum Board Market Size

Market Size Snapshot

Note – Market size depicts the revenue generated over the financial year

The market for gypsum boards is projected to reach $ 35.79 billion by 2025, and is forecast to grow to $ 60.22 billion by 2034. This growth rate is equivalent to a CAGR of 5.4% for the forecast period. The construction industry, especially in emerging economies, is growing, and the demand for sustainable building materials is increasing. The gypsum board industry is expected to continue to grow, especially in emerging economies. The adoption of lightweight construction materials and the development of new manufacturing processes are expected to drive market growth. Strategic initiatives are being taken by the leading players in the gypsum board industry, such as USG, Saint-Gobain, and Knauf, to enhance their market presence. They are investing in new product development, forming strategic alliances to strengthen distribution networks, and launching eco-friendly gypsum boards to meet the growing demand for sustainable building practices. These factors will have a significant impact on the competitive landscape and the growth of the market.

Regional Market Size

Regional Deep Dive

Drywall and Gypsum Board Market is characterized by robust demand driven by the construction and renovation sector across various regions. In North America, the market is backed by the strong housing market and the rising investments in the public sector. In Europe, the focus is on sustainable building materials. The Asia-Pacific region is witnessing rapid urbanization and industrialization, which is leading to a rise in demand. The Middle East and Africa are characterized by the increasing number of construction projects and the government’s focus on urban development. Latin America is gradually recovering from the recent economic downturn. The region is focusing on the development of affordable housing, which is a key application area for gypsum and drywall.

Europe

• In Europe, the trend towards sustainability has led to increased demand for eco-friendly gypsum board products, with companies like Knauf and Saint-Gobain leading the charge in innovation.
• The European Union's Green Deal is pushing for stricter regulations on construction materials, which is expected to accelerate the adoption of sustainable drywall solutions across member states.

Asia Pacific

• Rapid urbanization in countries like India and China is driving the demand for drywall and gypsum board, with local manufacturers such as BNBM and Gyproc expanding their production capacities.
• Government initiatives aimed at improving housing infrastructure, such as the Pradhan Mantri Awas Yojana in India, are expected to significantly boost the drywall market in the region.

Latin America

• In Latin America, the focus on affordable housing is leading to increased investments in drywall and gypsum board, with companies like Gyplac and Placo expanding their market presence.
• Government programs aimed at improving housing conditions in countries like Brazil and Mexico are expected to create significant opportunities for drywall manufacturers in the region.

North America

• The North American market is significantly influenced by the U.S. housing market recovery, with companies like USG Corporation and National Gypsum investing in innovative drywall solutions to meet rising demand.
• Recent regulatory changes in building codes across several states are promoting the use of fire-resistant and environmentally friendly drywall products, which is expected to drive market growth.

Middle East And Africa

• The Middle East is witnessing a construction boom, particularly in the UAE and Saudi Arabia, with major projects like NEOM and the Dubai Expo 2020 driving demand for drywall products.
• Regulatory frameworks in the region are increasingly focusing on energy efficiency and sustainability, prompting companies to innovate in the production of lightweight and energy-efficient drywall solutions.

Did You Know?

“Gypsum board is not only used for walls and ceilings but also has applications in fireproofing and soundproofing, making it a versatile material in construction.” — Gypsum Association

Segmental Market Size

Drywall and gypsum boards play a crucial role in the building industry, being the main material used for inner walls and ceilings. The gypsum board industry is currently growing steadily, a trend driven by urbanization and rising demand for residential and commercial buildings. In addition, the need for fire-resistant and sound-proof materials has increased, along with government regulations on the building industry. Consequently, the use of gypsum boards and gypsum wallboards has entered a more mature stage, with companies such as USG and National Gypsum leading the market. In the United States and Europe, for instance, the use of these materials has become a common practice in both new buildings and renovations. They are used primarily in the construction of residential buildings, commercial buildings, and industrial facilities. The industry is also benefiting from the rising popularity of sustainable building and energy-saving building trends, while technological developments such as the production of lightweight and moisture-resistant gypsum boards are reshaping the market.

Future Outlook

The Drywall and Gypsum-Board Market is forecast to experience strong growth from 2025 to 2034, with a CAGR of 5.4%. The market is mainly driven by an increase in construction activity, especially in emerging economies, where urbanization and development of roads and bridges are driving the demand for lightweight and cost-effective building materials. Drywall and gypsum-board penetration in the residential and commercial construction sector is expected to reach a level of 75% by 2034, up from the current 60%, as builders increasingly prefer the materials for their cost-effectiveness and sustainable benefits. In addition, the development of fire-resistant and moisture-resistant gypsum-board products is expected to further enhance the product’s market appeal. In the developed world, the adoption of new building codes and regulations to improve energy efficiency and sustainable development will continue to drive the market for gypsum-board products. Emerging trends, such as the integration of smart technology into building materials and the growing preference for eco-friendly products, will also shape the market. In order to respond to these trends, industry players are expected to increase their R&D spending, which will help to ensure a dynamic and competitive market environment through 2034.