NEW YORK, Jan. 20, 2022 (PRNewswire) The latest drywall and gypsum board market report infers that the growing demand from the construction sector is driving this market’s growth, resulting in market growth of USD 21.76 billion from 2021 to 2026.
Drywall & Gypsum Board Market Report Highlights the Key Findings in the Area of Vendor Landscape, Key Market Segments, Regions, Latest Trends & 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 in the UAE, 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.
Market Driver
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
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.