Gypsum Board Market 2030: Circular Construction Growth

The global gypsum board market size was estimated at USD 55.91 billion in 2023 and is projected to reach USD 127.06 billion by 2030, expanding at a CAGR of 12.7% from 2024 to 2030. Market growth is driven primarily by rising residential and commercial construction spending in developing Asia Pacific economies including China, India, and Indonesia, supported by robust regional economic performance.

In the U.S., the gypsum board market is expected to experience sustainable growth during the forecast period due to ongoing expansion in the construction sector. Increasing demand for energy-efficient building solutions is a major factor fueling market growth. Additionally, the rising frequency of natural calamities such as hurricanes and wildfires is expected to boost construction activities, further driving the demand for gypsum boards across the country.

Developed regions including North America and Europe are likely to witness substantial growth, supported by the recovery of the housing sector following past economic slowdowns. The U.S. is projected to remain a key market due to its increasing use of wallboard in non-load-bearing walls and suspended ceilings.

Gypsum board continues to gain prominence in the construction industry due to its advantages, such as fire resistance, sound insulation, and durability. Manufactured using advanced technologies, it is widely used for interior walls and ceilings, tile backers, exterior soffits, elevator shafts, area-separation walls, and fire protection systems. Many gypsum boards also feature aluminum foil backing, which serves as an effective vapor retarder when applied to exterior walls.

Companies participating in the gypsum board industry distribute products through both direct and third-party channels. Many manufacturers prefer direct sales to maintain stronger customer control, while third-party distributors are also utilized to minimize operational and logistics costs.

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Key Market Trends & Insights

• Asia Pacific accounted for the largest market share at 46.6% (volume) in 2023.
• China is expected to experience rising demand for gypsum board throughout the forecast period.
• Wallboard was the dominant product segment, holding a 50.3% share in 2023.
• The pre-engineered metal buildings segment is projected to grow at a CAGR of 12.9% during the forecast period.

Market Size & Forecast

• 2023 Market Size: USD 55.91 billion
• 2030 Projected Market Size: USD 127.06 billion
• CAGR (2024–2030): 12.7%
• Largest Market (2023): Asia Pacific
• Fastest-Growing Market: Middle East & Africa

Key Gypsum Board Company Insights

Leading players in the market include Beijing New Building Material (BNBM) Public Ltd Co., Saint-Gobain Gyproc, and Lafarge Group.

• Saint-Gobain Gyproc, based in the UAE and operating from Abu Dhabi, serves the Middle East with a portfolio comprising gypsum plasterboards, Gypframe metal components, accessories, and GypFine plaster. Its products have been used in notable projects such as Dubai Metro, Palm Jumeirah, Capital Gate, and Masdar Institute.
• Beijing New Building Material (BNBM) Public Ltd Co., established in 1979 and headquartered in China, produces gypsum and construction materials with an annual capacity exceeding 1,470 million square meters. The company supplies products globally across construction sectors.

Emerging market participants include National Gypsum Company and Global Mining Company LLC (GMC):

• National Gypsum Company manufactures gypsum boards, cement boards, plaster systems, roofing systems, and other construction products for global markets.
• Global Mining Company LLC (GMC) operates in the rocks and minerals sector with subsidiaries such as Global Gypsum Company LLC and Global Gypsum Board Company LLC. It owns a natural gypsum quarry in Thumrait, Oman.

Key Gypsum Board Companies

• USG Zawawi Drywall LLC SFZ
• Knauf
• Gypsemna
• Global Mining Company LLC (GMC)
• Gulf Gypsum Co. (ASK Gypsum Factory Ltd.)
• National Gypsum Company
• Beijing New Building Material (BNBM) Public Ltd Co.
• Extex Group
• United Mining Industries (UMI) Company Ltd.
• Saint-Gobain Gyproc
• Lafarge Group
• Ahmed Yousef & Hassan Abdulla Co. (AYHACO)
• Yoshino Gypsum Co. Ltd.

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Conclusion

The global gypsum board market is expected to expand rapidly through 2030, driven by strong construction activities in emerging Asian economies, increasing demand for energy-efficient building materials, and recovery in developed housing markets. Rising natural disaster occurrences and the growing adoption of advanced construction technologies further support demand. With key players scaling capacity, enhancing distribution networks, and investing in innovative gypsum-based solutions, the industry remains well-positioned for sustained, long-term growth.