GYPSUM BOARD MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Gypsum Board Market Analysis:

The anticipated expansion of the Global Gypsum Board Market is projected to increase from 15.08 billion square meters in 2023 to 20.37 billion square meters by 2028, with a Compound Annual Growth Rate (CAGR) of 6.19% during the forecast period (2023–2028).

The COVID-19 pandemic had an adverse impact on the market in 2020. However, the market has made a significant recovery in 2021, attributed to the escalating demand from various end-user applications, including residential, commercial, and other sectors.

In the short term, the market’s growth is driven by key factors such as the increasing demand for gypsum boards in residential construction and the rising repair activities worldwide. However, the hygroscopic properties of gypsum boards make them susceptible to water damage, leading to water absorption and retention. Furthermore, the disposal of gypsum boards in landfills may result in environmental issues such as the leaching of toxic chemicals into groundwater and the release of methane gas. These factors are impeding the market’s growth.

Nevertheless, the major players operating in the global gypsum board market are expected to benefit from lucrative growth opportunities in the future due to increased construction investments during the forecast period.

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