Global Drywall Market Report and Forecast 2024-2032

Global Drywall Market Size

The global drywall market size was around USD 42.17 billion in 2023. The market is further estimated to grow at CAGR of 6.2% in the forecast period of 2024-2032 to reach nearly USD 72.47 billion by 2032.

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The primary driver for the global drywall industry is the growing construction activity in the emerging economies, especially in the Asia Pacific, which represents the leading industry for global drywall industry. The rising repair and renovation activities in the developed countries are expected to add further impetus to the global drywall industry. 

With the volume of construction output expected to grow by 85% to USD 15.5 trillion worldwide by 2030, with three countries, China, United States and India, leading the way and accounting for 57% of the total growth, the drywall market is projected to see further growth during the forecasted period of 2024-2032. The construction industry in North America alone is expected to grow at a CAGR of 4-5% in the coming years.

Drywall Market Segmentation

Drywall, also known as wallboard, plasterboard and gypsum board are panels made of gypsum, used to construct walls and ceiling. Invented by Augustine Sackett, it was initially called Sackett Board, which eventually changed to drywall since it was a ‘dry’ alternative to the traditional lath and plaster technique. Drywall is preferred over plaster as it is easy to install, cost efficient, durable, and easy to repair. It is less expensive, not just because it takes less time to install but also because gypsum is easily available and not expensive to mine.  It tends to be fire-resistant as well and helps to reduce noise infiltration.

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Based on its specialised properties, the market is divided into the following types:

• Standard
• Fire-Resistant
• Mould/Moisture Resistant

Drywall finds its applications in the construction industry across residential and commercial sectors. In commercial spaces like hotels and restaurants and educational spaces, drywall can help to build a soundproof space. In the residential sectors, drywalls are also used to enhance the aesthetic appeal of the construction as well as helping provide thermal insulation as false ceilings.

Drywall Market Analysis

The growth of the construction sector globally has helped the market. The growing trend of repair, remodelling and renovation in the residential sector has also helped the industry. Since drywall is easy to install, there has been a rising demand for drywall among consumers for ‘do-it-yourself’ (DIY) projects. The market has also been helped by the product’s ability to seamlessly divide spaces, making it an easy and cost-effective option for customizations of interior spaces.

In 2018, the cost of drywall materials increased by about 2-3% globally with gypsum products prices seeing the largest increase of 6-7%. The increase in the prices of cement, aggregates, concrete and lumber ranged between 3-4%.

The Asia Pacific is the largest market for drywall driven by demand in countries like China, India, Japan, and Singapore. The growth of this regional industry is aided by the ease of availability of raw materials, cheap labour costs, healthy economic growth, and rapidly rising construction activities. China is the leading market in the region due to decreasing cost of residential constructions helped by favourable government activities. Rising population is leading to a growing demand for residential constructions in China and India, and thus, aiding the growth of the global drywall industry.

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Key Industry Players in the Global Drywall Industry

The report gives a detailed analysis of the following key players in the global drywall market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• USG Corporation
• Georgia-Pacific LLC
• American Gypsum Company
• CertainTeed 
• China National Building Materials Co., Ltd.
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Drywall Market Report Snapshots

Drywall Market Size

Drywall Market Analysis

Drywall Companies