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Global Gypsum-Fiber Board Market Size to grow by US$ 42.34 Bn in 2030

The gypsum-fiber board market is projected to reach US$ 42.34 Billion by 2030, at a CAGR of 3.82%. Gypsum board is widely utilised in the architecture and construction sector for a wide range of applications, including ornamentation, ceiling designs, dividing walls, acoustic insulation, and many more. These boards' adaptability and ease of use make them ideal for the wide range of applications in the building and construction sector. One of the main factors contributing to the product's increased global adoption is its minimal weight. The use of this board also results in a sizable cost reduction and further savings for the user.


Gypsum-Fiber Board Market

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Additionally, the consumer has the freedom and flexibility to select the design based on its intended use and level of comfort. Customers can also modify designs because major players offer this option along with a number of pre-sample designs. Players like Gyproc (Saint-Gobain) and others also offer online visualization tools to customers to make the design selection process easier and more enjoyable.


On the back of swift industrial and economic development, the building and construction sector is expanding healthily in emerging nations all over the world. As a result, the middle class is expanding and family incomes are rising, helping families who spend a lot of money on renovation and new construction activities. For the majority of middle-class groups, designing a home's interior on a budget is a top concern. This is where gypsum board enters the scene, assisting customers in realizing their aspirations for their homes' interiors. In addition, urban migration, rising demand for luxury residences, an increase in government investment on real estate, and cutting-edge building applications all have a beneficial impact on the gypsum board industry. Additionally, the development of goods specifically for interior decorative applications, along with styles and textures, expands lucrative potential for the global gypsum board market.


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During the anticipated years, rising demand for environmentally friendly construction is anticipated to drive product demand. Additionally, the product's continued innovation is projected to improve its uptake in high-end construction applications. Gypsum ceiling board is increasingly taking the place of other traditional materials like plaster in interior walls and ceilings. These ceiling boards offer excellent stiffness and core strength while enhancing thermal and sound insulation in buildings at a relatively cheaper cost. The need for ceiling boards is projected to rise as commercial development projects spread over the globe expand in number.


Furthermore, PEBs are favored over more traditional options like steel because of the design versatility and simple manufacture they provide. The most popular gypsum product used in institutional settings is laminated gypsum wallboards, which have the base layer glued to the base layer and the second finished layer stapled to the wall. As more K–12 school construction projects are underway, institutional construction activities are anticipated to rise quickly in the upcoming years.


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KEY INDUSTRY DEVELOPMENTS:


July 2021- American Gypsum received a USD 0.5 million award for the improvement of its Albuquerque gypsum wallboard factory in Bernalillo County from the Economic Development Department of Mexico. The money will be utilised to update the plant's infrastructure and machinery.


October 2020- USG Boral India launched Sheetrock, a new brand of gypsum wallboard. Launched is a product for interior building design.


Read More Details On This Report: https://www.extrapolate.com/Chemicals-and-Advanced-Materials/gypsum-fiber-board-market/26038

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