Gypsum boards are lightweight building materials. These are widely used as interior or exterior walls, ceilings, and partitions in residential or non-residential structures. They're also referred to as drywall, wallboard, or plasterboard. These can be screwed, nailed, or adhesively connected to wood and metal framing or existing surfaces. These are distinguished by their versatility, quality, sound control, and non-combustible core, which distinguishes them from plywood, hardboard, and fiberboard.
The rise in demand from the residential construction sector acts as one of the major factors driving the growth of gypsum board market. The rise in the consumer spending on advanced construction materials and growth of construction industry across the major economies such as China, India, South Africa, Russia and Mexico accelerate the gypsum board market growth. The increase in demand for single-family and multi-family house constructions and rise in popularity of making aesthetic improvements in the building structures as the product provides innovative designs and textures on its surface further influence the gypsum board market. Additionally, high-end construction applications, urban migration, growing need for high-end residential homes, growth in government spending in the real estate and innovative applications in the construction sector positively affect the gypsum board market. Furthermore, research and development activities for the development of the products that are specific to interior decorative applications coupled with designs and textures extend profitable opportunities to the gypsum board market players in the forecast period of 2019 to 2027.
On the other hand, fluctuations in the raw material prices and implementation of strict regulations regarding gypsum mining are the factors expected to obstruct the gypsum board market growth. The negative impact of COVID-19 is projected to challenge the gypsum board market in the forecast period of 2019-2027.
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