The drywall panels market size is expected to grow from US$ 48,719.96 million in 2022 to US$ 70,723.39 million by 2028; it is estimated to grow at a CAGR of 6.4% from 2022 to 2028.
A drywall panel is also known as wallboard, gypsum board, sheet-rock, and plasterboard. Drywall panels are composed of a layer of gypsum rock sandwiched between two layers of special paper. They are an excellent choice for wrap columns, ceilings, walls, and concealing steel beams. Drywall panels are one of the most widely used and highly popular construction elements. It is an integral add-on to many home remodeling and refinishing.
In 2022, Asia Pacific held the largest revenue share of the global drywall panels market. The Asia Pacific drywall panels market is segmented into Australia, China, India, Japan, South Korea, and the Rest of Asia Pacific. The demand for drywall panels in Asia Pacific is increasing due to the growing use of drywall panels in residential and non-residential sectors. The growing building & construction industry is a strong contributor to the drywall panels market growth in the region. For instance, in India, the construction industry is the second-largest industry after agriculture, accounting for ~11% of the country's GDP. Moreover, China is expected to spend US$ 13 trillion yearly on the construction of buildings by 2030. According to the National Bureau of Statistics of China, the construction output value in the country grew from US$ 1.51 trillion in 2010 to US$ 4.18 trillion in 2020. Further, the players operating in the Asia Pacific drywall panels market are heavily investing in research & development activities and focusing on expanding their production capacities, propelling the drywall panels market growth in the region.
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Drywall Panels Market: Strategic Insights
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Drywall Panels Market: Strategic Insights
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Impact of COVID-19 Pandemic on Drywall Panels Market
Before the COVID-19 pandemic, the drywall panels market was mainly driven by their increasing use in residential and non-residential construction activities. However, the COVID-19 pandemic hampered the growth of the chemicals & materials sector and the drywall panels market. The implementation of measures to combat the spread of SARS-CoV-2 negatively impacted the growth of various industries. Builders experienced delays and increased costs for imported raw materials and off-site building materials due to the long-term shutdown of many factories. The damage caused by the impacts of the pandemic on the building & construction industry hampered the demand for drywall panels.
The global marketplace is recovering from the losses as governments of different countries have announced relaxation in the restrictions. Manufacturers are permitted to operate at full capacity, which helps them to overcome the supply gap. This is expected to create a positive impact on the drywall panels market growth.
Market Insights
Rising Construction Industry Globally
Drywall panels are used to construct residential and non-residential buildings for interior walls, ceiling applications, and separation walls. They are used for direct decoration or thistle plaster finish. A drywall panel is preferred to plaster because it is easier to install and repair, less expensive, and more durable. Owing to all these benefits, there is a growing use of drywall panels in residential and non-residential construction activities. The construction industry in various countries across the globe is rapidly growing. Rise in government investments and increase in demand for residential constructions are propelling the growth of the construction industry. The countries such as the US, China, and India have the largest construction business in the world. In North America, the construction industry is one of the significant contributors to the region's economy. The rise in construction activities due to the increasing population and rapidly growing commercial sector across the region are driving the construction sector in North America. In Asia Pacific, there is an increase in construction activities. The region's rising population is putting a strain on current infrastructure, necessitating the development of new rail networks, residential structures, and roadways. Thus, the high rate of construction activities in various countries across the globe creates an enormous demand for various construction materials, including drywall panels.
Type Insights
Based on type, the global drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. The drywall panels market share for the regular segment was the largest in 2022. Regular drywall is also called whiteboard, usually white on one side and brown on the other. Regular drywall is plain drywall with no special features. This regular drywall is widely used in residential and non-residential construction. Regular drywall is commonly used in bedrooms, living rooms, hallways, and basements. It is the most cost-effective drywall type and is available in various thickness options.
The key players operating in the global drywall panels market include Georgia-Pacific LLC, American Gypsum Co LLC, Yoshino Gypsum Co Ltd, Compagnie de Saint Gobain SA, Sadaf Gypsum Co, Knauf Gips KG, Isam Khairi Kabbani Group, National Gypsum Co, Technomec Building Industries LLC, and GYPSEMNA Co LLC. Players operating in the global drywall panels market focus on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities, new product launches, and expanding production capacities.
Drywall Panels Market Regional Insights
Drywall Panels Market Regional Insights
The regional trends and factors influencing the Drywall Panels Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Drywall Panels Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
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Drywall Panels Market Market Report Scope
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 48.72 Billion |
| Market Size by 2028 | US$ 70.72 Billion |
| Global CAGR (2022 - 2028) | 6.4% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
Market Players Density: Understanding Its Impact on Business Dynamics
The Drywall Panels Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Drywall Panels Market are:
- Georgia-Pacific LLC
- American Gypsum Co LLC
- Yoshino Gypsum Co Ltd
- Compagnie de Saint Gobain SA
- Sadaf Gypsum Co
Disclaimer: The companies listed above are not ranked in any particular order.
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Report Spotlights
- Progressive industry trends in the drywall panels market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the drywall panels market from 2020 to 2028
- Estimation of global demand for drywall panels
- Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
- Recent developments to understand the competitive market scenario
- Market trends and outlook, as well as factors driving and restraining the growth of the drywall panels market
- Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
- The drywall panels market size at various nodes
- Detailed overview and segmentation of the market, as well as the drywall panels industry dynamics
- The drywall panels market size in various regions with promising growth opportunities
Global Drywall Panels Market
Based on type, the drywall panels market is segmented into regular, moisture-resistant, plaster baseboard, paperless, type X, and others. Based on application, the drywall panels market is segmented into residential and non-residential.
Company Profiles
- Georgia-Pacific LLC
- American Gypsum Co LLC
- Yoshino Gypsum Co Ltd
- Compagnie de Saint Gobain SA
- Sadaf Gypsum Co
- Knauf Gips KG
- Isam Khairi Kabbani Group
- National Gypsum Co
- Technomec Building Industries LLC
- GYPSEMNA Co LLC.
- Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
- PEST and SWOT Analysis
- Market Size Value / Volume - Global, Regional, Country
- Industry and Competitive Landscape
- Excel Dataset
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Type, and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
Drywall panels are widely used as a substitute for wooden panels and concrete walls in modern buildings and interiors, as they can be installed easily and quickly. Also, they are lightweight, flexible to use, cost-effective, and durable. Drywall panels also consist of recycled content. These panels are available in different colors and varieties, which helps add desirable and luxurious aesthetics to the interiors of a building. Due to all these factors, the use of drywall panels is growing in residential, commercial, industrial, and utility spaces, such as homes, offices, institutions, recreation centers, hotels, hospitals, and restaurants.
During the forecast period, type X is expected to be the fastest-growing segment. These panels are more difficult to cut and work with than regular drywall panels and are typically used in garages, rooms, and apartment buildings in accordance with several building codes. The majority of Type X drywall has a one-hour fire rating, while some have a fire rating of 30 minutes. The Type X drywall panels absorb sound slightly better than regular drywall and are slightly stronger than the regular 3/8-inch or 1/2-inch drywall panels. These factors are expected to boost the growth of the type X segment in the drywall panels market demand during the forecast period.
During the forecast period, the non-residential segment is expected to be the fastest-growing segment. Commercial places such as office buildings, hospitals, shopping malls, movie theatres, colleges and universities, hotels, restaurants, warehouses, and community halls require drywall panel installation during construction to protect the structure from fire, damage, mold, humidity, and extreme weather conditions. The non-residential sector is presumed to gather momentum significantly across the globe due to the increased demand for drywall panels from the hospitality sector, corporate offices, public places, and education facilities. These factors are expected to accelerate the growth of the non-residential segment of the drywall panels market.
In 2022, the regular segment held the largest market share. Factors such as efficiency, durability, ease of application, maintenance, and flexibility in all forms of ornamentation have made regular gypsum boards a preferable choice for customers. They also offer excellent fire resistance and sound isolation. Regular gypsum boards are also easy to repair, and installation and labor costs for the entire construction system are relatively cheap. These factors led to the dominance of the regular segment in 2022.
The major players operating in the drywall panels market are Georgia-Pacific LLC, American Gypsum Co LLC, Yoshino Gypsum Co Ltd, Compagnie de Saint Gobain SA, Sadaf Gypsum Co, Knauf Gips KG, Isam Khairi Kabbani Group, National Gypsum Co, Technomec Building Industries LLC, and GYPSEMNA Co LLC.
In 2022, Asia Pacific accounted for the largest share of the global drywall panels market. The demand for drywall panels in Asia Pacific is increasing due to the growing use of drywall panels in residential and non-residential sectors. The growing building & construction industry led to the dominance of Asia Pacific in 2022.
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The List of Companies - Drywall Panels Market
- Georgia-Pacific LLC
- American Gypsum Co LLC
- Yoshino Gypsum Co Ltd
- Compagnie de Saint Gobain SA
- Sadaf Gypsum Co
- Knauf Gips KG
- Isam Khairi Kabbani Group
- National Gypsum Co
- Technomec Building Industries LLC
- GYPSEMNA Co LLC
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