Asia Pacific Gypsum Board Market 2030: Sustainable Solutions for Modern Architecture
Asia Pacific Gypsum Board Market Trends
The Asia Pacific gypsum board market size was estimated at USD 18.4 billion in 2023 and is projected to grow at a CAGR of 14.0% from 2024 to 2030. This growth can be attributed to the rapid urbanization and industrialization in the region, leading to an increased demand for residential and commercial construction. Furthermore, the growing awareness about the benefits of gypsum board, such as its durability, versatility, and cost-effectiveness, has also contributed to its rising popularity. In addition, government initiatives promoting sustainable construction materials have further propelled market expansion.
The Asia Pacific gypsum board market accounted for a share of 32.9% of the global gypsum board market revenue in 2023. Regulation significantly shapes the gypsum board market in the APAC region, with various countries implementing specific laws and standards to ensure quality, safety, and environmental compliance. For instance, China has strict regulations under the GB/T 9775 standard, which sets comprehensive criteria for the physical and mechanical properties of gypsum boards, influencing manufacturers to enhance product quality. Similarly, India's Bureau of Indian Standards (BIS) prescribes IS 2095 standards, mandating specific requirements for different types of gypsum boards, thus ensuring uniformity and safety across the market. In Japan, the Building Standards Law imposes stringent fire-resistance requirements on construction materials, including gypsum boards, to enhance building safety in earthquake-prone regions. In addition, Australia's National Construction Code (NCC) incorporates regulations that promote the use of eco-friendly and sustainable materials, pushing the gypsum board market towards greener production practices.
Gather more insights about the market drivers, restrains and growth of the Asia Pacific Gypsum Board Market
Asia Pacific Gypsum Board Market Report Highlights
- Based on Product, the wallboard segment held a share of 51.3% in 2023. Wallboards are commonly used in the construction of ceilings & interior walls.
- The pre-decorated board segment is projected to witness the fastest CAGR of 14.9% from 2024 to 2030. Pre-decorated boards save time and reduce labor costs.
- Based on applications, The residential segment accounted for the largest share of 47.0% in 2023. This dominance can be attributed to the extensive use of gypsum boards in the construction of new homes and the renovation of existing ones.
- On the other hand, the institutional segment is projected to grow at a CAGR of 14.3% from 2024 to 2030. Institutional buildings include schools, hospitals, government buildings, and other public facilities.
- The China gypsum board market held a share of 54.6% of the total regional market revenue in 2023. This dominance can be attributed to the country's rapid urbanization and industrialization, which has led to a surge in construction activities.
- CNBM is the world’s largest gypsum board group that offers a wide range of gypsum board products including high-grade gypsum boards produced by Beijing New Building Materials (Group) Co., Ltd. (BNBM), a subsidiary of CNBM
- KCC Corp. offers a variety of gypsum board products for the market including general gypsum boards, waterproof gypsum boards used in high humidity conditions, fire-resistant gypsum boards for fireproofing, antibacterial gypsum boards for suppressing the proliferation and growth of mold, and acoustic gypsum boards for soundproofing
Asia Pacific Gypsum Board Market Segmentation
Grand View Research has segmented the Asia Pacific gypsum board market report based on product, application, and country:
Product Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)
- Wallboard
- Ceiling Board
- Pre-decorated Board
- Others
Application Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)
- Pre-engineered Metal Buildings
- Residential
- Industrial
- Commercial
- Institutional
Country Outlook (Volume, Million Square Meters; Revenue, USD Billion, 2018 - 2030)
- China
- India
- Japan
- South Korea
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