Global Gypsum Board Market - Segmented by Type, Application, and Geography - Growth, Trends, and Forecast (2018 - 2023)

The gypsum board market is estimated to witness a moderate growth during the forecast period, 2018-2023. Asia-Pacific is expected to be the largest and fastest growing market for gypsum board during the forecast period, owing to the rapidly increasing construction activities in the region.

Rapid Growth of Construction Sector to Drive the Gypsum Board Market
Gypsum boards offer several advantages in the construction sector such as sound isolation, durability, fire resistance and ease of installation. Gypsum board serves as an excellent fire-resistive building material, mostly used in interior finishes. It also prevents the transfer of unwanted sounds to the adjoining areas in a building. Owing to such properties offered by gypsum boards, the demand for it has witnessed a growth in the past few years. With the rapid growth of construction sector, the demand for gypsum board is likely to grow, in turn driving the market during the forecast period.

Increasing Investments in the Construction Sector
There has been a rapid surge in the construction sector of developing economies including India, China, and Brazil. This has significantly increased the demand for gypsum board. Hence, with the increasing investments for the development of buildings, institutes, residential complexes, malls and hospitals, the demand for gypsum board is likely to rise in the coming years. For instance, in December 2017, China’s leading construction firm CCTEB announced partnership with realty company Tulip Infratech to develop infrastructure and real estate projects in India. Both the companies will jointly bid and develop projects in the country and target an order book of about INR 20,000 crore in the next 2-3. Additionally, around 100 Smart Cities and 500 Atal Mission for Rejuvenation and Urban Transformation (AMRUT) Cities are expected to be developed by the government with an investment of INR 2 trillion in the next five years. Hence, with the increasing infrastructural investments, the demand for gypsum boards is expected to increase during the forecast period.

Asia-Pacific Expected to Witness the Fastest Growth in Gypsum Board Market
Asia-Pacific is expected to be the largest and fastest growing market for gypsum board during the forecast period, owing to the rapidly increasing construction activities in the region. Additionally, there has been a rise in demand for residential societies, offices, shopping complexes, and hospitals which has led to an increase in investments in the infrastructure sector. For instance, in December 2017, China’s leading construction firm CCTEB announced partnership with realty company Tulip Infratech to develop infrastructure and real estate projects in India. Both the companies will jointly bid and develop projects in the country and target an order book of about INR 20,000 crore in the next 2-3 years. Therefore, due to such factors, the demand for gypsum board is expected to rapidly grow in the region during the forecast period.

Key Developments
June 2018: Gebr. Knauf KG, the parent company of the German based Knauf Group, and USG Corp. (USG) announced a definitive agreement pursuant to which Knauf will acquire all of the outstanding shares of USG in a transaction valued at approximately $7.0 billion.

Major players include CGC Inc., Gypsum Factory, LafargeHolcim, Saint-Gobain, VOLMA and BGC Plasterboard, among others.

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Which type is expected to witness the highest demand for gypsum board
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