South Korea Gypsum Board Market Size & Outlook, 2023-2030
South Korea gypsum board market, 2018-2030 (US$M)
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South Korea gypsum board market highlights
- The South Korea gypsum board market generated a revenue of USD 1,019.0 million in 2023 and is expected to reach USD 2,508.0 million by 2030.
- The South Korea market is expected to grow at a CAGR of 13.7% 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 1,019.0 million |
| Market revenue in 2030 | USD 2,508.0 million |
| Growth rate | 13.7% (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, South Korea accounted for 1.8% 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 51.76% in 2023. Horizon Databook has segmented the South Korea 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.
Construction industry in South Korea is expected to witness growth in line with the economic growth of the country. Even though the country experienced a temporary setback in the economy in 2017, due to the impeachment of the former President Park Geun-hye, it made a quick recovery and is expected to witness robust growth over the forecast period.
Construction industry in South Korea is witnessing a significant growth owing to increasing investments in residential construction. Furthermore, the country’s rising focus on infrastructural development is likely to boost the growth of construction industry, thereby positively impacting the demand for gypsum board over the forecast period.
South Korea is considered as a major hub for the manufacturing of electronic products. The country is one of the leading producers of semiconductors, mobile phones, and other electronic gadgets. Electronics industry in the country was valued at over USD 100 billion in 2017, registering a growth of more than 3.5% as compared to the previous year.
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Gypsum Board Market Scope
Gypsum Board Market Companies
| Name | Profile | # Employees | HQ | Website |
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South Korea gypsum board market size, by product, 2018-2030 (US$M)
South Korea Gypsum Board Market Outlook Share, 2023 & 2030 (US$M)
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