Gypsum Board Market Growth Factors in 2021, COVID19 Impact on Industry, Size and Share Analysis to 2028
The global gypsum board market size is projected to reach USD 53.68 billion by the end of 2028. The rising construction activities across the world will emerge in favor of market growth. According to a report published by Fortune Business Insights, titled “Gypsum Board Market Size, Share & Industry Analysis, By Type (Standard Board, Type X, and Others), By Application (New Housing, New Commercial, and Rework & Remodel), and Regional Forecast, 2019-2028,” the market was worth USD 39.91 billion in 2018 and will exhibit a CAGR of 3.82% during the forecast period, 2019-2028.
List of companies profiled in the report:
- USG Corporation
- National Gypsum Company
- Yoshino Gypsum Co. Ltd.
- USG Boral
- Eagle Materials Inc.
- China National Building Material Co., Ltd.
- Taishan Gypsum Co., Ltd
- Fletcher Building
- Cabot Gypsum ULC
A gypsum board is a type of material that is used as a dry wall in several infrastructure construction activities. Accounting to the exceptional properties of the product such as low cost, ease of installation, and resistance to external factors such as water and fire, the product is being widely adopted by major businesses across the world. The presence of several large scale companies, coupled with the variations in product offerings will have a positive impact on the growth of the overall market in the coming years.
The emphasis on recycling products will create a subsequent demand for gypsum boards across the world. Increasing environmental concerns and depletion of resources have been the triggering factors that have encouraged manufacturers to incorporate dry walls or gypsum boards. The rising construction activities, as well as industrialization, will open up a huge potential for the companies operating in the global market.
Browse Summary of This Research Insights with Detailed TOC:https://www.fortunebusinessinsights.com/gypsum-board-market-102718
Increasing Number of Company Mergers and Collaborations Will Aid Growth
The report encompasses several factors that have made influenced the growth of the market in recent years. With a bid to acquiring a wider customer base, several large scale companies are looking to acquire smaller and medium enterprises. A few of the major company mergers have been highlighted in the report. In November 2019, Saint-Gobain announced that it has completed the acquisition of Continental Building Products. The company is a US based manufacturer of construction materials and through its acquisition, Saint-Gobain will look to strengthen its portfolio of gypsum products. Saint-Gobain’s latest acquisition will have a huge impact on the growth of the gypsum board market in the forthcoming years.
Asia Pacific Currently Dominates the Market; Rising Construction Activities to Aid Growth
The report analyzes the ongoing gypsum board market trends across North America, Latin America, Asia Pacific, the Middle East and Africa, and Europe. Among these regions, the market in Asia Pacific currently dominates the market. The constantly rising construction activities, coupled with the increasing industrialization in emerging countries such as India, China, and Japan will aid the growth of the market. Besides Asia Pacific, the market in North America will also witness considerable growth in the coming years. As of 2018, the market in North America was worth USD 16.21billion and this value is likely to increase further in the coming years.