Gypsum Board Market Development, Trends, Demand and Forecast Till 2024

BROOKLYN, N.Y. - Sept. 24, 2019 - PRLog -- Gypsum and water which is pressed between two sheets of thick paper and widely used as a construction material. It is widely used in the construction industry for preparing walls, ceilings and partition systems, particularly in the residential and commercial building projects. Gypsum board is considered as a faster alternative to conventional plastering process. Some of the benefits of using a gypsum board include durability, lightweight, cost-effectiveness, ease of installation, fire-resistance, etc.

According to the global gypsum board market research report by IMARC Group, the market was worth US$ 22.4 Billion in 2018. The report further anticipates the market to reach a value of US$ 31.7 Billion by 2024, at a projected CAGR of 5.8% over the forecast period.

Global Gypsum Board Market Drivers/Constraints:

·      The production of gypsum board deteriorated consistently since the year 2008-2010 owing to the downturn in the construction industry. Nevertheless, in the year 2011, the industry started to recover gradually leading to a rise in the demand for gypsum boards across the world.

·      In addition, rising disposable incomes, rapid urbanisation as well as growing awareness of consumers about environment-friendly and safer construction materials have increased the demand for gypsum boards in retrofitting and renovation of oil buildings.

·      Some of the other factors that are propelling the growth of the global gypsum board market include rising population, surging infrastructural developments, large-scale industrialisation, favourable government initiatives and growing demand for quality housing and enhanced living standards.

·      However, there are several factors which are acting as a hindrance to the growth of the market. While it is easy to apply plaster at any curvy spaces, applying gypsum board over intricate surfaces can be a challenge.

Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/gypsum-board-manufacturing-plant/requestsample

Some of the leading players operating in the market are:

·      BNBM Group

·      Saint-Gobain

·      Knauf

·      Etex

·      USG Boral

·      Yoshino

Browse full report with detailed TOC and list of figures and tables: https://www.imarcgroup.com/gypsum-board-manufacturing-plant