Gypsum Board Market Insights and Growth Opportunities in 2024: An Extensive Analysis
Gypsum boards, also referred to as drywall, plasterboard, or wallboard, are constructed by sandwiching gypsum plaster between two thick sheets of paper. Widely utilized as partitions and linings for walls, ceilings, roofs, and floors, gypsum boards offer numerous beneficial attributes that make them an appealing construction material. These boards provide thermal insulation between walls and ceilings, aiding in the reduction of air-conditioning load and lowering electricity bills. Additionally, they enhance energy efficiency and contribute to creating a more conducive working environment, both in residential and commercial settings.
Gypsum boards find extensive use across various end-user industries, including building and construction, cold storage, industrial applications, and others.
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Market Dynamics :
The global gypsum board market is propelled by increasing demand for thermal insulation in commercial offices, residential, and industrial projects, driven by the ongoing surge in urbanization and industrialization worldwide. Gypsum boards play a vital role in facilitating thermal insulation, thereby aiding in energy conservation required for building air conditioning systems.
Growing Demand for Gypsum Boards in the Building and Construction Sector for Thermal Insulation and Energy Conservation
The market's growth is fueled by the escalating demand from the building and construction industries, aiming to achieve energy efficiency and enhance the aesthetic appeal of building interiors. For instance, according to a report by the Global Alliance for Buildings and Construction (GABC) in 2016, the global buildings sector, encompassing an estimated floor area of 235 billion m2, witnessed significant growth in energy consumption, reaching nearly 125 EJ in 2016. With projections indicating that new construction will expand to 230 billion square meters by 2050, there is a substantial increase in demand for gypsum boards to meet the needs of this burgeoning market.
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Market Segmentation :
By Type : Ceiling Board, Pre-decorated Board Wallboard.
By Product : Moisture Resistant Board, High Fire & Moisture Resistance, Plain Board, Paperless Gypsum Board, Aerated Gypsum Board, Mold Resistant Gypsum Board, Type X Gypsum Board, Sound-proof Gypsum Boards.
By Thickness : 0-10 mm, 10-15 mm, 15-20 mm, 20-25 mm, Above 25 mm.
By Shape : Square, Tapered, Beveled and Round edge, Rectangular.
By Application : Industrial, Residential, Commercial, Institutional.
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Competitive Landscape
USG Corporation, Lafarge Holcim, Cornerstone Building Brands, National Gypsum, Saint-Gobain, Knauf, Gulf Gypsum Co, Kingspan Group plc, Georgia Pacific and among others.
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