Technavio's Drywall and Gypsum Board Market Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, and Latest Trends and Drivers

Vendor Landscape
The drywall and gypsum board market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

American Gypsum, Compagnie de Saint-Gobain SA, Etex NV, Global Mining Co. LLC, Gypsemna Co. LLC, Kingspan Group Plc, Knauf Gips KG, LafargeHolcim Ltd., National Gypsum Co., and Yoshino Gypsum Co. Ltd. among others. among others are some of the few key vendors competing to maintain their market position in the market.

Various players in the market are engaging in strategic partnerships and joint ventures coupled with launching differentiated products to up their game in the furniture industry. For instance, In November 2021, Kingspan Group Plc partnered with GOAL to support projects in their communities that are aligned with the Planet Passionate ambition of creating a world that is powered by renewable energy, net-zero carbon, manages water sustainably, and protects the Earth's valuable resources.

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Key Market Segmentation

• Segmentation by Application: 
• Residential: 
• The residential application segment held the largest drywall and gypsum board market share in 2021. The segment will continue to retain its dominance through 2026. The growth can be attributed to the increasing the demand for new residential units for meeting the surging urbanization needs.  
• Drywall and gypsum boards are gaining popularity in modern residential designs. In residential construction, these state-of-the-art drywall and gypsum boards shells protect the interior from elements such as water and dust and create a safe and comfortable living environment. They also provide optimal thermal performance or optimal heat efficiency for the occupants in residential buildings.
• Commercial
• Industrial
• Institutional

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Regional Market Outlook
APAC will contribute to 55% of the market growth during the forecast period. The growth of this region can be attributed to the rising number of infrastructure and construction activities, particularly in the emerging economies of the region. Owing to the rapid industrialization and urbanization in the region, countries including India, China, Japan, Indonesia, Malaysia, and Thailand are experiencing high demand for residential, commercial, and industrial buildings.

Furthermore, government investments in infrastructural developments also display the growth opportunities of the drywall and gypsum boards market in APAC. Favorable government policies and regulations, the availability of inexpensive resources and skilled workforce, and minimum operational and labor costs are some other factors driving many globally established organizations, particularly from the manufacturing sector, to set up their production facilities and R&D centers in APAC, which, further will fuel the drywall and gypsum board market growth in the forthcoming years.

Apart from regions, if we look at the country-wise market growth, the US and UK will contribute to the market growth significantly owing to the urbanization and advancements in these developed economies.

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Latest Trends, Driving the Global Drywall and Gypsum Board Market

• Market Driver:
• Growing demand from the construction sector:

Drywall and gypsum boards are used interchangeably with natural gypsum. One of the most important industries that use drywall and gypsum boards is the commercial and infrastructure sectors. Furthermore, the global urban population is likely to grow by around 68% by 2050. This will further increase the need for infrastructure expansion or renovations to accommodate the needs of the ever-growing population.  Many construction activities are currently being planned and executed in developing economies such as India, China, and Indonesia. Thus, the growth in construction activities is likely to trigger the demand for drywall and gypsum boards that will propel the market during the forecast period.

• Market Challenge:
• Challenges in gypsum processing:

While processing any material, it is important to distinguish important characteristics that can impact the production processes and the final created product. Gypsum also requires testing on a case-by-case basis to guarantee quality results. It is abrasive in nature and therefore requires robust equipment with rugged pieces. It also faces issues such as dust and clumps during the production of pelletized and powdered gypsum. The material has a natural ability to harden and becomes lumped into a cement-like structure, which makes removing the material from processing equipment difficult.

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