Top 10 Companies in the Global Gypsum Boards and Gypsum Plaster Market (2026): Market Leaders Powering Global Construction

MARKET INSIGHTS

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The Global Gypsum Boards and Gypsum Plaster Market size was valued at USD 28.5 billion in 2024. The market is projected to grow from USD 30.1 billion in 2025 to USD 45.3 billion by 2032, exhibiting a CAGR of 6.1% during the forecast period.

Gypsum boards and gypsum plaster are essential building materials used in construction for walls, ceilings, and partitions. These products consist of a non‑combustible core made of gypsum, typically sandwiched between paper liners, offering fire resistance, sound insulation, and moisture control. While gypsum boards are prefabricated panels, gypsum plaster is applied as a wet mixture that hardens into a smooth finish.

The market growth is driven by increasing urbanization, rising construction activities in emerging economies, and stringent fire safety regulations. However, volatility in raw material prices and environmental concerns related to gypsum mining pose challenges. Recent innovations include lightweight boards and moisture‑resistant variants, with key players like Saint‑Gobain and Knauf expanding their production capacities in Asia‑Pacific markets.

Top 10 Companies in the Global Gypsum Boards and Gypsum Plaster Market

1️⃣ Saint‑Gobain

Headquarters: Courbevoie, France
Key Offering: Gypsum boards, fire‑resistant panels, recycled content solutions

Saint‑Gobain is the global leader in building materials, with a strong focus on sustainability and innovation. The company’s Circulia range, introduced in 2024, contains 30% recycled gypsum, reducing carbon footprint while maintaining performance.

Sustainability Initiatives:

• 30% recycled content in new product lines
• Targeted reduction of CO₂ emissions by 20% by 2030
• Investment in circular economy projects across Europe and Asia

2️⃣ USG Corporation

Headquarters: Chicago, Illinois, USA
Key Offering: Gypsum boards, specialty drywall, moisture‑resistant products

USG continues to lead with a diversified portfolio that serves residential, commercial, and institutional markets. The company reported 8% revenue growth in its construction materials division in 2024, driven by strong demand in North America.

Sustainability Initiatives:

• Launch of low‑water plaster formulations reducing water usage by 40%
• Carbon‑neutral manufacturing goal by 2035
• Partnerships with local governments to promote green building certifications

3️⃣ Knauf

Headquarters: Düsseldorf, Germany
Key Offering: Gypsum boards, specialty panels, advanced manufacturing

Knauf’s rapid expansion in Eastern Europe, adding 1.2 million square meters of annual capacity, positions the company as the fastest‑growing competitor in the market.

Sustainability Initiatives:

• Implementation of energy‑efficient calcination processes
• Increased use of synthetic gypsum from flue gas desulfurization
• Goal to achieve 25% recycled content by 2028

4️⃣ BNBM

Headquarters: Shanghai, China
Key Offering: Gypsum boards, cost‑effective solutions for high‑volume markets

BNBM dominates the Asia‑Pacific region, controlling approximately 22% of China’s gypsum board market through strategic partnerships and government collaborations.

Sustainability Initiatives:

• Investment in local recycling facilities to reduce waste
• Use of low‑energy production technologies
• Commitment to ISO 14001 certification across all plants

5️⃣ Etex Corp

Headquarters: Bruges, Belgium
Key Offering: Gypsum boards, decorative plaster, moisture‑resistant products

Etex’s new plaster formulation cuts water usage by 40% during application, enhancing sustainability and reducing installation costs.

Sustainability Initiatives:

• Development of low‑VOC plaster solutions
• Partnership with European green building councils
• Carbon‑neutral goal by 2032

6️⃣ National Gypsum

Headquarters: St. Louis, Missouri, USA
Key Offering: Gypsum boards, specialty drywall, high‑performance panels

National Gypsum maintains a strong presence in the U.S. market, focusing on innovation in fire‑resistant and impact‑resistant products.

Sustainability Initiatives:

• Implementation of closed‑loop water recycling systems
• Reduction of energy consumption by 15% through process optimization
• Active participation in the U.S. Green Building Council’s sustainability programs

7️⃣ Boral

Headquarters: Sydney, Australia
Key Offering: Gypsum boards, construction materials for infrastructure projects

Boral is expanding its footprint in the Asia‑Pacific, leveraging local manufacturing to meet rising demand.

Sustainability Initiatives:

• Use of recycled gypsum in 20% of production lines by 2026
• Commitment to reducing greenhouse gas emissions by 30% by 2030
• Development of low‑emission calcination technologies

8️⃣ Yoshino

Headquarters: Tokyo, Japan
Key Offering: Gypsum boards, acoustic panels, lightweight solutions

Yoshino focuses on high‑performance acoustic and lightweight boards for Japan’s dense urban markets.

Sustainability Initiatives:

• Use of bio‑based binders in gypsum boards
• Reduction of packaging waste through recyclable materials
• Participation in Japan’s national carbon neutrality roadmap

9️⃣ K Lakshmi Cement

Headquarters: Hyderabad, India
Key Offering: Gypsum boards, construction solutions for affordable housing

K Lakshmi Cement leverages its cement manufacturing expertise to produce cost‑effective gypsum boards for India’s growing housing sector.

Sustainability Initiatives:

• Integration of fly ash into gypsum board production
• Target to reduce CO₂ emissions by 20% by 2029
• Collaboration with Indian government on green building initiatives

🔟 National Gypsum

Headquarters: St. Louis, Missouri, USA
Key Offering: Gypsum boards, specialty drywall, high‑performance panels

National Gypsum maintains a strong presence in the U.S. market, focusing on innovation in fire‑resistant and impact‑resistant products.

Sustainability Initiatives:

• Implementation of closed‑loop water recycling systems
• Reduction of energy consumption by 15% through process optimization
• Active participation in the U.S. Green Building Council’s sustainability programs

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Outlook

The gypsum market is poised for robust growth, driven by urbanization, construction activity in emerging economies, and stringent fire safety regulations. The shift toward sustainable and lightweight solutions, coupled with advancements in production technology, will further accelerate market expansion. However, raw material price volatility, alternative wall materials, and skilled labor shortages remain key challenges that could temper growth.

Future Trends

Key future trends include:

• Expansion of prefabricated and modular construction, increasing demand for factory‑ready gypsum panels.
• Growth of lightweight and moisture‑resistant boards to meet green building standards.
• Adoption of digital manufacturing and IoT to improve efficiency and reduce emissions.
• Increased use of synthetic gypsum from flue gas desulfurization to stabilize supply chains.
• Enhanced fire‑resistant products (Type X) and multi‑layered systems for high‑rise buildings.