The global drywall and gypsum board market size was US$ 55.1 billion in 2021. The global drywall and gypsum board market is forecast to reach US$ 105.1 billion by 2030, registering a compound annual growth rate (CAGR) of 12.1% during the forecast period from 2022 to 2030.
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The increasing initiatives for infrastructural development in the commercial and residential sector are driving the growth of the global drywall and gypsum board market. In addition, growing efforts from the governments of various nations to boost urbanization will propel the growth of the drywall and gypsum board market.
The benefits of the drywall and gypsum board, such as time-efficiency and economical construction techniques are likely to boost the growth of the global drywall and gypsum board market.
The growing standards of living of the urban population will benefit the global drywall and gypsum board market. In addition, rising demand for interior decoration of residential and commercial buildings will accelerate the growth of the global drywall and gypsum board market.
The high cost of investments may limit the growth of the drywall and gypsum board market. Furthermore, growing disposable income and increasing urban population will accelerate the growth of the global drywall and gypsum board market during the study period.
The COVID-19 outbreak has hampered the drywall and gypsum board market. The government across various nations has imposed a complete lockdown in seriously impacted areas. As a result, it created several obstacles for maintaining the supply chain. Moreover, the construction segment suffered a significant loss because of the lack of labor and social distance. Thus, it negatively affected the global drywall and gypsum board market.
In addition, various people registered job loss due to the pandemic. As a result, it affected living standards. Thus, the demand for drywall and gypsum board from the residential sector declined significantly due to the COVID-19 outbreak.
The Asia-Pacific drywall and gypsum board market is forecast to hold dominance, followed by North America and Europe. It is due to the presence of a large population in these regions. In addition, growing urbanization in emerging countries like India and China is forecast to benefit the regional market.
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USG Zawawi Drywall LLC SFZ
Saint – Gobain Gyproc India Ltd
The global drywall and gypsum board market segmentation focuses on Product, Application, and Region.
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Middle East & Africa (MEA)
Key questions answered in the Drywall and Gypsum Board market report are:-
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