'The global drywall market will reach $107.4 billion by 2032, growing at a CAGR of 9.3 .'

The drywall market continues to grow and is expected to grow from $44.15 billion in 2022 to $107.4 billion by 2032. This is due to the growing demand for drywall in the construction industry, both commercial and residential. Drywall is a lightweight material consisting of a layer of lightweight clay and a paper coating. It is characterized by its easy and quick installation and low cost. In addition, gypsum board has properties such as fire resistance, adaptability, long-term stability and low cost.

The expansion of the drywall market is attributed to the rise in construction of residential buildings, rapid urbanization process in many countries, increasing government spending on''real estate and increasing consumer demand for luxury housing. Drywall can be used in various construction applications due to its lightweight structure. It is also popular in green buildings that are being constructed across the globe to save energy and reduce the utilization of renewable resources.

The wallboard segment holds the largest share of the gypsum board market, accounting for 46.3% of the total market. Drywall is widely used in the construction industry for walls and partitions.

The residential sector is the largest consumer of drywall with a market share of over 52.7%. Demand for housing and various applications of drywall in residential structures and restoration are the major factors that influence this market share. Drywall is widely used for walls, ceilings, and partitions due to its fire resistance, sound insulation, and ability to paint or wallpaper on top.

Asia Pacific is the largest market for drywall with a market share of over 38.7%. This region is witnessing significant construction activities, especially in developing countries, and significant investment in infrastructure. The growth in demand for gypsum board is attributed to the increasing demand for residential and commercial spaces, driven by''rapid urbanization, infrastructure development, and increasing income of the population.

The major players in the global drywall market include companies such as Saint-Gobain Gyproc, Knauf, National Gypsum Company, USG Boral, and others. Competition in the market remains high and companies are developing new products and strategies to meet the growing demand for drywall.