The Gypsum Board Market predicted to reach USD 45.08 billion in 2028

From 2021 to 2028, the global gypsum board market is predicted to increase at a CAGR of 11.8 percent, from USD 45.08 billion in 2020 to USD 45.08 billion in 2028. Product demand is likely to be driven by rising demand from the residential building sector, as well as rising consumer spending on modern construction materials. 


The rapidly increasing construction industry in key economies such as China, India, Brazil, Mexico, South Africa, and Russia is expected to fuel market expansion. Furthermore, as the spectrum of new applications in the construction sector expands, product demand is expected to rise. In the United States, the Gypsum Board Market was worth USD 13.57 billion in 2020 and is expected to grow at a significant CAGR over the forecast period.

Over the projected period, the country's developing construction industry and rising demand for single-family and multi-family housing constructions are expected to boost product demand. The capacity of the product to give novel shapes and textures on its surface is likely to expand its penetration due to the growing trend of making aesthetic changes in building constructions.

Wallboards and ceiling boards, for example, are commonly utilised to enhance the interior of both residential and commercial structures. Increased urban migration in major economies, increased government investment on residential building, and the growing demand for high-end residential dwellings are expected to support market expansion.However, price variations in raw materials and rigorous rules governing gypsum mining may stifle industry expansion.

Leading market competitors are working on expanding their manufacturing capacity and introducing upgraded products that are stronger and more durable. Furthermore, the players are spending in R&D to develop goods that are tailored to interior decorative applications and include designs and textures. During the forecast period, these factors will help the market develop.

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