Market Overview

The market for gypsum board is expected to register a CAGR of around 7% during the forecast period. Major factors driving the market studied are the increasing investment in the construction sector in the emerging economies of Asia-Pacific and repair activities in developed nations. Gypsum board inability to perform in water is expected to hinder the growth of the market studied.

  • The demand from the residential sector dominated and is expected to grow at a rapid rate, owing to the new residential construction and repair activities in the developing and developed economies respectively.
  • Increasing investment in the construction sector is likely to act as an opportunity in the future.
  • North America dominated the market across the globe with the largest consumption from the countries, such as United States and Canada.



Key Market Trends

Increasing Investments in the Construction Sector in Emerging Economies of Asia-Pacific

  • The construction sector in the emerging economies of Asia-Pacific has been growing rapidly.
  • The housing authorities of Hong Kong launched a number of measures to push-start the construction of low-cost housing. The authorities projected a capital expenditure of HKD 23,923 million in construction, in its proposed budget for 2018-19, i.e., 7% higher than the budget allotted in the previous year, in order to construct more affordable apartments.
  • The China New Urbanization project 2014-2020 has also been initiated by the government, in order to provide social housing to migrants, as well as, expand the existing urban facilities in major cities.
  • Similarly, the Indian construction sector is growing at a tremendous rate (approximately 7-8%), with urbanization projects and new construction activities, such as bridges, dams, roads, railways (metro rails), urban infrastructures, buildings, and others.
  • The 100% FDI in the construction sector has also supported the industry growth and the government initiative ’Housing for All by 2022’ is supporting the new construction activities in the country.
  • In addition, the country is likely to witness an investment of around USD 1.3 trillion in housing, over the next seven years, during which, the country is likely to witness the construction of 60 million new homes. The availability of affordable housing is expected to rise around 70% by 2024 in India.



North America to Dominate the Market

  • The North American region dominated the global market share. More than 97% of the structures constructed in the United States required gypsum board.
  • With the growing trend of multi-family building, and rise in migration to cities, the US Census Bureau has been providing more permits for the construction of new residential buildings.
  • Canada’s commercial and residential sectors are witnessing significant growth rates, majorly driven by government initiatives and rising immigration in the country.
  • The consumer expenditure in Canada has increased by a margin of almost 3%, thus, increasing the demand for remodeling of houses, which is boosting the gypsum board market in the country.
  • Non-residential growth is expected to jump by almost 6%, after the 1% growth in the past year.
  • This growth is attributed to Canada’s transition to a more high-tech, service-based economy, from an economy based on natural resources.



Competitive Landscape

The gypsum board market is highly fragmented with a large number of players in the market. The major companies include Saint-Gobain, USG Corporation, Georgia-Pacific, Continental Building Products, and BNBM group, among others.

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