Despite the fact that it is not suitable for moist and wet locations (near wash basins and rest rooms), it is still known for its myriad qualities. Gypsum board is highly cost-effective, durable, stable, flexible, fire-resistant, aesthetic in appearance, recyclable in nature and easily cuts down noise transmission, thereby serving as an effective substitute to traditional lath and plaster. According to a new report by Expert Market Research, the global gypsum board market reached a value of US$ 24 Billion in 2018 and is further expected to reach US$ 34 Billion by 2024.
The demand for gypsum boards is associated with the growth of the construction sector, particularly the commercial and the housing sectors. As a result of rapidly increasing population, there has been a surge in the construction of new buildings where gypsum boards are considered of prime importance. Similarly, a rising trend of safer and sustainable construction coupled with a rise in disposable incomes have facilitated the end-users to expend more on renovations and remodelling of the building structure. Several other factors that are stimulating the growth of the global gypsum board market include growing urbanisation, industrialisation, improving living standards and high growth in residential real estate sector.
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Key findings from the report:
Expert Market Research has analyzed the global gypsum board market according to product type, end-use, regions and major players:
Market breakup by Product Type
Market breakup by End-Use
Market breakup by Region
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