Global Drywall Market Key Insights:
- Types: Regular Drywall, Water Resistant Drywall, Fire Resistant Drywall, Mold Resistant Drywall, Others
- Price Trends 2018 & Forecast 2019-2024
- Industry Analysis & Outlook 2019-2024
- Demand by Application & Region
- Capacity Addition & Plant Turnarounds
With the volume of construction output expected to grow by 85% to USD 15.5 trillion worldwide by 2030, with three countries, China, US and India, leading the way and accounting for 57% of the total growth, the drywall market is projected to see further growth during the forecasted period of 2019-2024. The construction industry in North America alone is expected to grow at a CAGR of 4-5% in the coming years.
The primary driver for the drywall market is the growing construction activity in the emerging economies, especially in Asia-Pacific, which represents the leading industry for drywalls globally. The rising repair and renovation activities in the developed countries are expected to add further impetus to the drywall market.
Properties and Applications
Drywall, also known as wallboard, plasterboard and gypsum board are panels made of gypsum, used to construct walls and ceiling. Invented by Augustine Sackett, it was initially called Sackett Board, which eventually changed to drywall since it was a ‘dry’ alternative to the traditional lath and plaster technique. Drywall is preferred over plaster as it is easy to install, cost efficient, durable and easy to repair. It is less expensive, not just because it takes less time to install but also because gypsum is easily available and not expensive to mine. It tends to be fire-resistant as well, and helps to reduce noise infiltration.
Based on its specialized properties drywall is divided into:
- Regular Drywall
- Water Resistant Drywall
- Fire Resistant Drywall
- Mold Resistant Drywall
Drywall finds its end-use applications in the construction industry across residential, non-residential and commercial sectors. In commercial spaces like hotels and restaurants and educational spaces, drywall can help to build a soundproof space. In the residential sectors, drywalls are also used to enhance the aesthetic appeal of the construction as well as helping provide thermal insulation as false ceilings.
The growth of the construction sector globally has helped the drywall market. The growing trend of repair, remodelling and renovation in the residential sector has also helped the market. Since drywall is easy to install, there has been a rising demand for drywall among consumers for ‘do-it-yourself’ (DIY) projects. The drywall market has also been helped by the product’s ability to seamlessly divide spaces, making it an easy and cost-effective option for customizations of interior spaces.
In 2018, the cost of drywall materials increased by about 2-3% globally with gypsum products prices seeing the largest increase of 6-7%. The increase in the prices of cement, aggregates, concrete and lumber ranged between 3-4%.
Asia-Pacific is the largest market for drywall driven by demand in countries like China, India, Japan and Singapore. The growth of this regional market is aided by the ease of availability of raw materials, cheap labour costs, healthy economic growth and rapidly rising construction activities. China is the leading market in the region due to decreasing cost of residential constructions helped by favourable government activities. Rising population is leading to a growing demand for residential constructions in China and India, and thus, aiding the growth of the drywall market.
The report presents an in-depth analysis of the following key players in the global drywall market, covering their market share, capacity and latest developments like plant turnarounds, capacity expansions, and mergers and acquisitions:
- USG Corporation
- National Gypsum
- Georgia-Pacific LLC
- BGC Partners, Inc.
- American Gypsum Company, LLC
- CertainTeed Corporation
- Chiyoda Ute Co., Ltd.
- Eagle Materials Inc.
- Continental Building Products, Inc.
- PABCO Gypsum
EMR’s comprehensive report on the global drywall market offers additional insight into the manufacturing process, trade data and regional price trends. It also offers value chain analysis, SWOT analysis as well as Porter’s five forces analysis of the global drywall market.