Plasterboard market Overview
The Plasterboard market Size is expected to reach USD 39.41 Billion by 2033. The Plasterboard market industry size accounted for USD 26.74 Billion in 2023 and is expected to expand at a compound annual growth rate (CAGR) of 6.88% from 2023 to 2033. The plasterboard market refers to the industry involved in the production, distribution, and sale of plasterboard, also known as drywall or gypsum board. Plasterboard is a construction material commonly used for interior walls and ceilings in residential, commercial, and industrial buildings. It is composed of a gypsum core sandwiched between layers of paper or fiberglass, providing strength, durability, and fire resistance.
The market encompasses manufacturers of plasterboard, suppliers of raw materials such as gypsum and paper, distributors, wholesalers, retailers, contractors, and end-users in the construction sector. Factors driving the plasterboard market include growth in the construction industry, urbanization, renovation and remodeling activities, as well as advancements in building materials technology.
Global Plasterboard market Synopsis
COVID-19 Impact Analysis
The COVID-19 pandemic had a significant impact on the plasterboard market. Lockdowns, restrictions on movement, and temporary closures of manufacturing facilities disrupted the supply chain for plasterboard production. This led to delays in production and distribution, affecting the availability of plasterboard in the market. Many construction projects faced delays or cancellations due to uncertainties surrounding the pandemic, supply chain disruptions, and financial challenges. This further dampened demand for plasterboard as construction companies postponed their projects. Increased costs of raw materials, transportation, and labor due to supply chain disruptions and pandemic-related safety measures put pressure on the profitability of plasterboard manufacturers and distributors. This led to potential price increases for plasterboard products. Changes in consumer behavior, such as remote working and virtual meetings, influenced the demand for commercial office spaces and retail establishments. This shift impacted the type and volume of construction projects, thereby affecting the demand for plasterboard in different market segments.
Plasterboard Market Dynamics
The major factors that have impacted the growth of Plasterboard market are as follows:
Drivers:
Ø Renovation and Remodeling Activities
Renovation and remodeling projects in both residential and commercial sectors contribute significantly to the demand for plasterboard. As older buildings are renovated or repurposed, plasterboard is often used to update interior spaces. Ongoing technological advancements in plasterboard manufacturing processes lead to the development of innovative products with improved properties, such as enhanced fire resistance, moisture resistance, and acoustic performance. These innovations drive market growth by expanding the range of applications for plasterboard. Growing awareness of environmental issues and sustainability prompts the adoption of eco-friendly building materials like plasterboard, which can be recycled and contribute to energy efficiency in buildings.
Restraint:
- Perception of Volatility in Raw Material Prices
Plasterboard production relies on raw materials such as gypsum, paper, and additives. Fluctuations in the prices of these raw materials can affect production costs and profit margins for plasterboard manufacturers. Price volatility may necessitate adjustments in pricing strategies or supply chain management practices. While plasterboard is considered a relatively eco-friendly building material, concerns about its environmental impact, particularly related to resource depletion, energy consumption during manufacturing, and waste generation, can influence consumer preferences and regulatory standards. Compliance with environmental regulations may entail additional costs for manufacturers and restrict market expansion.
Opportunity:
⮚     Rising Demand in Developing Countries
Rapid urbanization and infrastructure development in emerging economies present significant opportunities for the plasterboard market. Increasing disposable incomes, expanding middle-class populations, and government initiatives to promote affordable housing fuel the demand for construction materials, including plasterboard. The renovation and retrofitting of existing buildings present opportunities for the plasterboard market. As older buildings are refurbished to meet modern standards for safety, comfort, and energy efficiency, there is a demand for materials like plasterboard for interior remodeling and improvement projects. Offering customizable plasterboard solutions and prefabricated building components can cater to the growing demand for modular construction and off-site manufacturing. Tailoring plasterboard products to specific project requirements, such as size, shape, and performance characteristics, can enhance value proposition and competitiveness in the market.
Plasterboard market Segment Overview
By Type
Based on Type, the market is segmented based on Standard, Fire-resistant, Sound-insulated, Moisture-resistant, Thermal and Others. The fire-resistant plasterboard segment dominated the market due to the increasing focus on fire safety regulations and the need for reliable fire protection in buildings. The unique ability of fire-resistant plasterboards to resist the spread of flames and provide enhanced fire resistance has positioned them as a preferred choice for ensuring the safety and integrity of structures.
By Form
Based on Form, the market has been segmented into Tapered-edged, Square-edged and others. The square-edged segment dominated the market due to its versatility in installation, cost-effectiveness, familiarity with the industry, and compatibility with various finishing techniques. These factors collectively contribute to its preferred choice among builders, making it the dominant segment in the plasterboard market.
By End Use
Based on End Use, the market has been divided into Residential and Non-Residential. The residential segment dominated the market due to the continuous demand for housing, its versatility and aesthetics, its thermal and acoustic insulation properties, suitability for renovation projects, and cost-effectiveness in residential construction.
Global Plasterboard market Regional Analysis
Based on region, the global Plasterboard market has been divided into North America, Europe, Asia-Pacific, the Middle East & Africa, and Latin America. North America is projected to dominate the use of the Plasterboard market followed by the Asia-Pacific and Europe regions.
North America Market
North America holds a dominant position in the Plasterboard market. North America has a mature plasterboard market, driven by steady construction activity in residential, commercial, and industrial sectors. The United States and Canada are major contributors to market growth. Population growth, urbanization, renovation projects, and infrastructure development initiatives fuel demand for plasterboard. Technological advancements, stringent building codes, and emphasis on sustainability also drive market growth.
Asia-Pacific Market
The Asia-Pacific region has indeed emerged as the fastest-growing market for the Plasterboard market industry. Asia-Pacific is the fastest-growing region for the plasterboard market, driven by rapid urbanization, population growth, and infrastructure development. Fluctuations in raw material prices, regulatory uncertainties, and economic slowdowns in certain countries restrain market growth. However, increasing urbanization and demand for modern construction materials create opportunities for plasterboard manufacturers.
Competitive Landscape
The global Plasterboard market is highly competitive, with numerous players offering a wide range of software solutions. The competitive landscape is characterized by the presence of established companies, as well as emerging startups and niche players. To increase their market position and attract a wide consumer base, the businesses are employing various strategies, such as product launches, and strategic alliances.
Prominent Players:
- Armstrong World Industries Inc.
- Etex Group
- Saint-Gobain SA
- Gypsum Management and Supply Inc.
- USG Corporation
- Georgia Pacific LLC
- Boral Limited
- KNAUF Gips KG
- Fletcher Building Limited
- LafargeHolcim Ltd.
Key Development
In January 2022, Etex acquired URSA, a European pioneer in insulation solutions, to strengthen its portfolio in the sustainable business segment. Etex offered more systems and solutions when it added insulation expertise to its Plasterboard, fiber-cement, passive fire protection, and modular products.
Scope of the Report
Global Plasterboard Market, by Type
- Standard
- Fire-resistant
- Sound-insulated
- Moisture-resistant
- Thermal
- Others
Global Plasterboard market, by Form
- Tapered-edged
- Square-edged
- Others
Global Plasterboard market, by End Use
- Residential
- Non-Residential
Global Plasterboard market, by Region
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Benelux
- Nordic
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- Indonesia
- Austalia
- Malaysia
- India
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of SouthAmerica
- Middle East &Africa
- Saudi Arabia
- UAE
- Egypt
- SouthAfrica
- Rest of Middle East & Africa
| Parameters | Indicators |
|---|---|
| Market Size | 2033: $39.41 Billion |
| CAGR | 6.88% CAGR (2023-2033) |
| Base year | 2022 |
| Forecast Period | 2023-2033 |
| Historical Data | 2021 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Key Segmentations | Type, Form, End Use |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, Middle East, Africa |
| Key Vendors | Armstrong World Industries Inc., Etex Group, Saint-Gobain SA, Gypsum Management and Supply Inc., USG Corporation, Georgia Pacific LLC, Boral Limited, KNAUF Gips KG, Fletcher Building Limited and LafargeHolcim Ltd. |
| Key Market Opportunities | • Rising Demand in Developing Countries • Renovation and Retrofitting Projects |
| Key Market Drivers | • Renovation and Remodeling Activities • Technological Advancements |
REPORT CONTENT BRIEF:
- High-level analysis of the current and future Plasterboard market trends and opportunities
- Detailed analysis of current market drivers, restraining factors, and opportunities in the future
- Plasterboard market historical market size for the year 2021, and forecast from 2023 to 2033
- Plasterboard market share analysis at each product level
- Competitor analysis with detailed insight into its product segment, Government & Defense strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
- To identify and understand the various factors involved in the global Plasterboard market affected by the pandemic
- To provide a detailed insight into the major companies operating in the market. The profiling will include the Government & Defense health of the company’s past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
