Drywall is a manufactured panel — a gypsum core between paper — installed in sheets and finished with joint compound. Traditional plaster is a wet-applied material (lime, gypsum, or cement-based) built up in multiple coats over lath or an existing substrate. Veneer plaster is a hybrid system: standard blueboard panels serve as the substrate, and a thin, hard plaster finish coat is applied over the entire surface. Plaster systems are harder, denser, and more crack-resistant than drywall and carry a higher upfront cost — worth it in luxury applications.