The global drywall and building plaster market is expected to increase at a 5.8% CAGR between 2024 and 2031, reaching USD YY billion by 2031. Asia-Pacific dominates the market, with YY% of the global share. Key metrics include urbanisation, rising demand for sustainable construction materials, and increased infrastructure development spending.
The drywall and building plaster market is growing steadily, owing to increased urbanisation and a thriving construction industry. Population growth, rising disposable incomes, and government attempts to promote affordable housing are driving market expansion. The sector is experiencing a rush in creative product development to improve fire resistance, acoustic performance, and moisture resistance.
Market Trend: Shift towards lightweight and eco-friendly drywall materials
The drywall and building plaster business is seeing a substantial shift towards the development and use of lightweight, ecologically friendly products. This transition is being driven by a growing awareness of sustainability in construction and the demand for energy-efficient structures. A recent World Green Building Council analysis found that green building materials, such as eco-friendly drywall, can cut a building's carbon footprint by up to 39%. Major manufacturers are spending in R&D to develop drywall products produced from recycled materials that have better thermal insulation qualities. The market is also experiencing an increase in the usage of gypsum substitutes and bio-based binders in plaster formulations to lessen environmental effect.
Market Driver: Rapid urbanization and increasing investments in commercial and residential construction
The drywall and building plaster market is being driven by rapid urbanisation and increased investment in both commercial and residential construction. The United Nations predicts that 68% of the world's population will live in cities by 2050, up from 55% in 2018. This urbanisation is driving up demand for new homes, office spaces, and public infrastructure, all of which require large amounts of drywall and building plaster. Furthermore, the growing popularity of smart cities and green buildings is encouraging innovation in construction materials, such as enhanced drywall systems with superior acoustic and thermal features. The growing emphasis on fast-track construction methods is also increasing the use of prefabricated drywall systems, accelerating market growth.
Market Restraint: Fluctuations in raw material prices and competition from alternative materials
The drywall and building plaster business is facing challenges as prices for major raw materials, particularly gypsum and cement, fluctuate. These price changes can have a substantial impact on production costs and, ultimately, market growth. Furthermore, the availability of competing wall systems such as wood panelling, concrete blocks, and glass partitions limits market penetration in some applications. To preserve their market competitiveness, manufacturers must focus on cost-effective manufacturing methods and product differentiation.
The drywall segment dominates the market, accounting for over YY% of the global market share.
drywall remains the market's largest category, owing to its broad application in both residential and commercial construction. Its appeal stems from its simplicity of installation, fire resistance, and lower cost when compared to traditional plastering methods. The drywall industry has seen substantial innovation in recent years, including the creation of mold-resistant and soundproof varieties.
Recent advances in drywall technology have resulted in the development of high-performance materials. For example, a major construction materials business recently introduced a new brand of impact-resistant drywall, specifically designed for high-traffic areas in commercial and institutional buildings. This invention has helped the company gain a larger market share in the luxury building segment.
The drywall market has also expanded significantly in emerging economies, where rising urbanisation and government programs for cheap housing are boosting demand. In India, for example, drywall usage in residential building climbed by 18% in 2023, owing to the country's aggressive housing development initiatives and growing inclination for modern construction techniques.
Asia-Pacific leads the global drywall and building plaster market, with a market share of YY% in 2023.
The Asia-Pacific region's market supremacy stems mostly from increasing urbanisation, massive infrastructure development projects, and strong economic growth in countries such as China and India. The region's construction industry, notably in the residential and commercial sectors, has grown rapidly, resulting in high demand for drywall and building plaster materials.
Recent changes in Southeast Asian countries have fuelled market growth. For example, the Indonesian government announced an ambitious infrastructure development plan in 2022, pledging USD 430 billion for various projects over the next five years. This project is predicted to dramatically increase the regional demand for construction materials such as drywall and building plaster.
The Asia-Pacific market has seen an increase in technology breakthroughs and product innovations. In 2023, a major Japanese building materials producer launched a new line of seismic-resistant drywall systems, specifically designed to improve building safety in earthquake-prone locations. This idea has sparked significant attention from regional developers, with the potential to reshape high-rise construction safety requirements.
China remains the region's largest consumer of drywall and building plaster, with the construction industry expanding at a 6.5% annual rate over the last three years. The country's ongoing urbanisation activities and endeavours to improve existing buildings are important drivers of industry growth.
Several significant multinational building material firms and regional manufacturers compete in the worldwide drywall and building plaster industry. Key market leaders are strengthening their market positions through product innovation, regional growth, and strategic collaborations. Companies are investing in R&D to produce innovative drywall and plaster formulations with better fire resistance, acoustic capabilities and sustainability profiles.
Mergers and acquisitions have been a popular approach in the sector, with several large transactions changing the competitive environment. For example, a major North American construction products business recently acquired a European drywall manufacturer in order to broaden its product offering and geographic presence in the European market.
In terms of market share, the top five competitors control over 35% of the worldwide drywall and building plaster industry. These corporations have created robust manufacturing and distribution networks, particularly in important building hubs throughout North America, Europe, and Asia. However, the market faces stiff competition from regional competitors that provide items adapted to local construction demands and preferences.
In the coming years, the sector will place a greater emphasis on sustainable and circular economy principles. Companies are looking into new recycling technologies and green manufacturing procedures to lessen the environmental impact of drywall and plaster manufacture. The increased popularity of prefabrication and modular construction is also fuelling collaborations between drywall manufacturers and construction technology companies to create integrated building solutions.
The drywall and building plaster market is expected to grow steadily and innovate in the next years, fuelled by global urbanisation trends and an increased emphasis on sustainable construction techniques. The industry's transition to high-performance and environmentally friendly products poses both problems and possibilities for market participants. The growing use of digital construction technologies, such as Building Information Modelling (BIM), is likely to have an impact on product development and marketing tactics in the drywall and drywall industry.
One developing trend to keep an eye on is the incorporation of smart technology into drywall systems, such as embedded sensors for monitoring structural health and environmental conditions. This trend may open up new opportunities for value-added products and services in the construction materials business.
The market will also see an increase in demand for specialised drywall and plaster products designed for specific uses, such as healthcare facilities, data centres, and high-performance buildings. This trend towards application-specific solutions has the potential to create additional industry segmentation and specialisation.
Saint-Gobain S.A.
Knauf Gips KG
USG Corporation
Boral Limited
Georgia-Pacific LLC
National Gypsum Company
PABCO Building Products, LLC
American Gypsum Company LLC
Continental Building Products, Inc.
LafargeHolcim Ltd.
September 2023: Saint-Gobain introduced a new line of moisture-resistant drywall materials for high-humidity conditions, catering to rising demand in tropical and coastal locations.
April 2023: Knauf Gips KG announced the expansion of its production capacity in India with a new cutting-edge drywall manufacturing facility to meet the South Asian construction market's growing demand.
1. INTRODUCTION
1.1. Market Definitions & Study Assumptions
1.2. Market Research Scope & Segment
1.3. Research Methodology
2. EXECUTIVE SUMMARY
2.1. Market Overview & Insights
2.2. Segment Outlook
2.3. Region Outlook
3. COMPETITIVE INTELLIGENCE
3.1. Companies Financial Position
3.2. Company Benchmarking -- Key Players
3.3. Market Share Analysis -- Key Companies
3.4. Recent Companies Key Activities
3.5. Pricing Analysis
3.6. SWOT Analysis
4. COMPANY PROFILES (Key Companies list by Country) (Premium)
5. COMPANY PROFILES
5.1. Saint-Gobain S.A.
5.2. Knauf Gips KG
5.3. USG Corporation
5.4. Boral Limited
5.5. Georgia-Pacific LLC
5.6. National Gypsum Company
5.7. PABCO Building Products, LLC
5.8. American Gypsum Company LLC
5.9. Continental Building Products, Inc.
5.10. LafargeHolcim Ltd. (*LIST NOT EXHAUSTIVE)
6. MARKET DYNAMICS
6.1. Market Trends
6.1.1. Shift towards lightweight and eco-friendly drywall materials
6.1.2. Integration of smart technologies in drywall systems
6.1.3. Growing demand for specialized drywall and plaster products
6.2. Market Drivers
6.2.1. Rapid urbanization and increasing investments in commercial and residential construction
6.2.2. Growing focus on energy-efficient buildings
6.2.3. Adoption of prefabricated and modular construction methods
6.3. Market Restraints
6.3.1. Fluctuations in raw material prices and competition from alternative materials
6.3.2. Skilled labor shortages in the construction industry
6.4. Market Opportunities
6.5. Porter's Five Forces Analysis
6.5.1. Threat of New Entrants
6.5.2. Bargaining Power of Buyers/Consumers
6.5.3. Bargaining Power of Suppliers
6.5.4. Threat of Substitute Products
6.5.5. Intensity of Competitive Rivalry
6.6. Supply Chain Analysis
6.7. Value Chain Analysis
6.8. Trade Analysis
6.9. Pricing Analysis
6.10. Regulatory Analysis
6.11. Patent Analysis
6.12. SWOT Analysis
6.13. PESTLE Analysis
7. BY PRODUCT TYPE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
7.1. Drywall
7.1.1. Regular Drywall
7.1.2. Moisture-Resistant Drywall
7.1.3. Fire-Resistant Drywall
7.1.4. Soundproof Drywall
7.2. Building Plaster
7.2.1. Gypsum Plaster
7.2.2. Cement Plaster
7.2.3. Lime Plaster
8. BY APPLICATION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
8.1. Residential
8.1.1. Single-Family Homes
8.1.2. Multi-Family Homes
8.2. Commercial
8.2.1. Offices
8.2.2. Retail Spaces
8.2.3. Healthcare Facilities
8.2.4. Educational Institutions
8.3. Industrial
8.3.1. Manufacturing Facilities
8.3.2. Warehouses
9. BY END-USE (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
9.1. New Construction
9.1.1. Residential New Construction
9.1.2. Commercial New Construction
9.1.3. Industrial New Construction
9.2. Repairs & Renovation
9.2.1. Residential Repairs & Renovation
9.2.2. Commercial Repairs & Renovation
9.2.3. Industrial Repairs & Renovation
10. BY DISTRIBUTION CHANNEL (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
10.1. Direct Sales
10.1.1. Manufacturer to Contractor
10.1.2. Manufacturer to Developer
10.2. Retail
10.2.1. Home Improvement Stores
10.2.2. Specialty Stores
10.2.3. Online Retail
11. REGION (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
11.1. North America
11.1.1. United States
11.1.2. Canada
11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Rest of South America
11.3. Europe
11.3.1. Germany
11.3.2. United Kingdom
11.3.3. France
11.3.4. Italy
11.3.5. Spain
11.3.6. Russia
11.3.7. Rest of Europe
11.4. Asia-Pacific
11.4.1. China
11.4.2. Japan
11.4.3. India
11.4.4. Australia
11.4.5. South Korea
11.4.6. Rest of Asia-Pacific
11.5. Middle-East
11.5.1. UAE
11.5.2. Saudi Arabia
11.5.3. Turkey
11.5.4. Rest of Middle East
11.6. Africa
11.6.1. South Africa
11.6.2. Egypt
11.6.3. Rest of Africa
*NOTE: All the region mentioned in the scope will be provided with (MARKET SIZE/VALUE (US$ Mn), SHARE (%), MARKET FORECAST (%), YOY GROWTH (%)-- 2020-2031)
By Product Type:
Drywall
Building Plaster
By Application:
Residential
Commercial
Industrial
By End-Use:
New Construction
Repairs & Renovation
By Distribution Channel:
Direct Sales
Retail
By Region:
North America
Europe
Asia-Pacific
Latin America
Middle East & Africa
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