The global gypsum board market size was valued at USD 45.08 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 11.8% from 2021 to 2028. Growing demand from the residential construction sector coupled with increasing consumer spending on advanced construction materials is expected to drive the product demand. The rapidly growing construction industry across the major economies, such as China, India, Brazil, Mexico, South Africa, and Russia, is expected to support the market growth. Moreover, the rising scope of innovative applications in the construction sector is likely to boost product demand. In the U.S., the market stood at USD 13.57 billion in 2020 and is anticipated to grow at a considerable CAGR over the forecast period.
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