According to Grand View Research, the global gypsum board market exited 2018 worth $37.25 billion dollars in sales, with an expected compound annual growth rate of 11.4% through 2025.
- Growth factors for gypsum board cited were:
- The rising demand from residential real estate sectors
- Increasing consumer spending capacity for construction materials
- Growing population and rapid industrialization
- Surged demand for better infrastructure facilities in residential as well as commercial and institutional sectors
- Increased spending by governments and private real estate firms in residential and urban construction
- For those who are less familiar with gypsum boards, the most common types are:
- Wallboard – which accounts for more than 50% of overall volume of gypsum boards manufactured in the world. It is used in making interior walls, surfacing, and partitions of shops, offices, and malls. It is also used as a speedier alternative to traditional lath and plaster.
- Ceiling board – which are suitable for the applications wherein normal fire, structural, and acoustic levels are specified.
- Pre-decorated boards – which are expected to witness significant growth owing to increasing demand in regions such as the U.S., U.K. and Germany.
Other types include plaster base, sheathing, and lath which are gaining traction based on their ability to enhance aesthetic appeal of the architectural designs.
Popular applications for gypsum board include:
- Pre-engineered Metal Building
- Residential
- Industrial
- Commercial
- Institutional
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