by The global Gypsum board Market is estimated to be valued at US$ 50.47 Billion In 2022 and is expected to exhibit a CAGR of 12.2% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: Gypsum board, also known as drywall or plasterboard, is widely used in the construction industry due to its versatility, durability, and fire-resistant properties. It is a lightweight building material that consists of a gypsum core sandwiched between two paper layers. Gypsum board offers several advantages, including easy installation, low maintenance, and excellent acoustic and thermal insulation properties. Moreover, due to its recyclable nature, it is considered a sustainable option for construction.
Market key trends: The increasing focus on sustainable construction practices and the growing demand for cost-effective building materials are the key trends driving the growth of the gypsum board market. Gypsum board is widely used in both residential and commercial buildings as it aids in reducing energy consumption and greenhouse gas emissions. Furthermore, the rising trend of interior renovation and remodeling activities is boosting the demand for gypsum board. Its versatility allows for easy customization and enables the creation of aesthetically pleasing interiors. As a result, the gypsum board market is expected to witness significant growth in the forecast period.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the Gypsum Board Market is relatively low, mainly due to the high capital investment required to set up manufacturing facilities. Additionally, existing players have already established strong brand recognition and customer loyalty, making it difficult for new entrants to gain market share.
Bargaining power of buyers: The bargaining power of buyers in the gypsum board market is moderate. While buyers have the option to choose from a wide range of suppliers, the presence of major players with strong market presence limits their bargaining power to some extent.
Bargaining power of suppliers: The bargaining power of suppliers in the gypsum board market is also moderate. Gypsum is a widely available raw material, and manufacturers have multiple options to source it. However, suppliers can exert some influence by providing consistent and high-quality materials to manufacturers.
Threat of new substitutes: The threat of new substitutes is low in the gypsum board market. Gypsum boards offer advantages such as fire resistance, sound insulation, and ease of installation, making them the preferred choice for various construction applications. Finding alternatives that match these properties is challenging.
Competitive rivalry: The competitive rivalry in the gypsum board market is high. The market is dominated by key players such as Saint-Gobain, Knauf, and Yoshino Gypsum Co., Ltd., who compete in terms of product quality, innovation, and pricing. Intense competition drives manufacturers to continuously improve their offerings to gain a competitive edge.
Key Takeaways
The global gypsum board market is expected to witness high growth, exhibiting a CAGR of 12.2% over the forecast period (2023-2030). This growth can be attributed to the increasing construction activities worldwide, especially in developing economies. The demand for gypsum boards is driven by their superior properties, including fire resistance, sound insulation, and durability, making them essential in residential and commercial construction.
In terms of regional analysis, Asia Pacific is expected to be the fastest growing and dominating region in the gypsum board market. This can be attributed to the rapid urbanization and industrialization in countries like China and India, leading to increased construction activities. Additionally, favorable government initiatives and investments in infrastructural development further contribute to the market growth in the region.
Key players operating in the gypsum board market include Saint-Gobain, United Mining Industries, Taishan Gypsum Co., Ltd., Knauf, Baier Group, Yoshino Gypsum Co., Ltd., Gulf Gypsum Board, Gypsemna, Georgia-Pacific Gypsum LLC, and Arcat, Inc., among others. These players focus on strategic initiatives such as mergers and acquisitions, partnerships, and product innovations to strengthen their market presence and gain a competitive advantage. With increasing demand for gypsum boards, key players are expanding their production capacities and investing in research and development to launch advanced and sustainable products.
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- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
