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According to the latest report by IMARC Group, titled “Gypsum Board Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global gypsum board market reached a value of US$ 26.9 Billion in 2021. Gypsum board, or drywall, refers to a premier, lightweight construction component that is usually made from a combination of gypsum, plasticizer, fiber, and other foaming agents. They also involve calcium sulfate dihydrate, which is sandwiched between two layers of thick facer backer paper. As compared to the conventional board, gypsum board exhibits better sound control and quality, easier installation, enhanced thermal insulation, and non-combustible properties. Commercially available in wall, ceiling, and decorated board types, it is extensively used in interior wall and ceiling coverings of a building.
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The increasing ongoing construction activities and significant consumer spendings on advanced construction materials are primarily driving the gypsum board market growth. In line with this, rising government expenditure in the real estate sector, along with the implementation of favorable policies promoting the uptake of gypsum board in multiple renovations and construction projects on account of its recyclable and eco-friendly properties is also propelling the market growth. Apart from this, the introduction of innovative gypsum boards with moisture-resistance and soundproofing functionalities are further contributing to the market growth. Looking forward, IMARC Group expects the gypsum board market to reach US$ 37.7 Billion by 2027, exhibiting a CAGR of 5.73% during 2022-2027.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise
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