India Gypsum Board Market Size & Outlook, 2023-2030
India gypsum board market, 2018-2030 (US$M)
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India gypsum board market highlights
- The India gypsum board market generated a revenue of USD 864.3 million in 2023 and is expected to reach USD 2,249.8 million by 2030.
- The India market is expected to grow at a CAGR of 14.6% from 2024 to 2030.
- In terms of segment, wallboard was the largest revenue generating product in 2023.
- Pre-decorated Board is the most lucrative product segment registering the fastest growth during the forecast period.
Gypsum board market data book summary
| Market revenue in 2023 | USD 864.3 million |
| Market revenue in 2030 | USD 2,249.8 million |
| Growth rate | 14.6% (CAGR from 2023 to 2030) |
| Largest segment | Wallboard |
| Fastest growing segment | Pre-decorated Board |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Wallboard, Ceiling Board, Pre-decorated Board, Other Products |
| Key market players worldwide | Knauf, Gypsemna, Global Mining Company, National Gypsum Company, Compagnie de Saint-Gobain SA, Holcim Ltd, Zawawi Group, BNBM, Eternit, United Mining Industries, Yoshino Gypsum |
Other key industry trends
- In terms of revenue, India accounted for 1.5% of the global gypsum board market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China gypsum board market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,249.8 million by 2030.
Wallboard was the largest segment with a revenue share of 49.45% in 2023. Horizon Databook has segmented the India gypsum board market based on wallboard, ceiling board, pre-decorated board, other products covering the revenue growth of each sub-segment from 2018 to 2030.
Improved GDP, significant population growth, and an expanding industrial sector are critical factors for the growth of the construction sector in India. Increasing foreign direct investments in the country and a rise in the number of foreign companies entering the Indian market are expected to further boost the growth of this sector.
Government initiatives to develop smart cities are anticipated to aid this growth, thereby propelling the demand for gypsum boards over the forecast period. Residential construction is projected to witness the highest growth owing to rising population, increasing urbanization, and ascending investments in the sector by Non-Resident Indians (NRIs).
Ascending residential construction activities may bolster the demand for gypsum boards over the forecast period. However, low product penetration in the construction sector in India may restrain market growth.
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Gypsum Board Market Scope
Gypsum Board Market Companies
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India gypsum board market size, by product, 2018-2030 (US$M)
India Gypsum Board Market Outlook Share, 2023 & 2030 (US$M)
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