The global Ceiling Board Market size is expected to reach USD 107.3 billion in 2028 and register a steady CAGR of 11.5%, according to the latest report by Reports and Data. Key factors such as increasing popularity of Ceiling Boards in the construction sector, availability of Ceiling Boards with various decorative designs, and increasing construction activities across the globe are driving global market revenue growth.
Ceiling Board, also known as drywall is a premium building material widely used in commercial, institutional and residential sectors for building walls, and ceilings owing to its favourable factors such as sound control, cost-effectiveness, versatility, and fire resistance. These Ceiling Boards are available in various shapes, colors, and designs and are used to enhance the interior of commercial buildings, malls, residences, restaurants without the need to add plaster of walls, partitions, and ceilings. Factors such as rapid urbanization, rising disposable income, increasing demand for aesthetically pleasing home décor, and rising demand for deploying false ceilings are fuelling market growth. In addition, growing trend for smart homes and smart buildings, increasing government spending, and rising investments in research and development activities to launch enhanced products are fuelling global market growth.
However, fluctuating prices of raw materials, high cost of Ceiling Boards, and high susceptibility for fungal growth are factors expected to hamper overall growth of the gypsum market over the forecast period.
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Major companies operating in the global Ceiling Board market include American Gypsum, Gulf Gypsum Co. Ltd., Saint-Gobain Gyproc India, USG Corporation, National Gypsum Company, LafargeHolcim Ltd., Georgia-Pacific LLC, CertainTeed, Pabco Gypsum, Knauf LLC, Etex Group, and Taishan Gypsum Co. Ltd.
For a comprehensive value chain analysis, the report covers the downstream and upstream essentials of the Micro Battery market. It also pays special focus on the growth process, macro- and micro-economic factors, raw material sources analysis, and other technical data. The report further segments the market on the basis of types, applications, and regions and offers insights into the segments that have the highest penetration and profit margin, along with recent developments based on geographies.
Some key highlights in the report:
- Based on application, the residential sector is expected to register robust revenue growth between 2021 and 2028. Rapid urbanization, increasing construction activities worldwide, rising disposable income, increasing demand for Ceiling Boards for aesthetic enhancement, and high demand for cost-effective, non-toxic, and eco-friendly construction materials are boosting segment revenue growth.
- Among the product types, the ceiling board segment is expected to account for significantly larger revenue share during the forecast period owing to increasing demand for gypsum false ceilings as these are easily affordable, offer better thermal and sound insulation, easy deployment, and are sturdy and rigid. Increasing adoption of ceiling boards across various commercial, industrial and institutional sectors is fuelling segment revenue growth.
- The Ceiling Board market in North America is expected to account for largest revenue share in the global market throughout the forecast period. Factors such as increasing number of commercial and residential building activities, availability of skilled labourers and presence of dominant players, rising demand for multi-family buildings, and availability of natural gypsum reserves in abundance are fuelling North America market growth.
- Asia Pacific is expected to register rapid revenue growth over the forecast period. China and India are some of the key contributing countries in APAC. Rapidly growing building and construction sector, increasing construction activities, rising per capita income, large scale industrialization, favourable government schemes, and rising number of redevelopment and renovation projects are factors boosting market growth in Asia Pacific.
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For this study, Reports and Data has segmented the Ceiling Boards market based on product, application, and region:
Product Type Outlook (Revenue, USD Billion; 2018-2028)
- Ceiling Board
- Pre-decorated Board
Application Outlook (Revenue, USD Billion; 2018-2028)
- Pre-engineered Buildings
- Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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Benefits of Global Ceiling Board Market Report:
- Comprehensive analysis of the changing market dynamics
- A futuristic outlook on different factors influencing the market
- An 8-year forecast of the market growth and expected revenue growth
- Ease of understanding of the market, key segments, and their future growth
- In-depth analysis of the competitive landscape to give an advantageous edge for the companies
- Extensive insight into the market with in-depth analysis of the segmentation
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