From the Wikipedia entry for "Drywall":

"The name drywall derives from drywall's replacement of the
lath-and-plaster wall-building method, in which plaster was spread over
small wooden formers while still wet. In 1916, the United States Gypsum
Company invented a 4' x 8' sheet of gypsum pressed between sheets of
extremely strong paper, which they called "Sheetrock." Despite being
used extensively at the Chicago World's Fair in 1933-34, it was
generally seen as an inferior alternative to plaster and did not catch
on quickly. It gained popularity during World War II, when the war
effort made labor expensive. It was reintroduced in 1952, and the
suburban migration of the 1950s was fueled in part by the cheaper
construction methods allowed by drywall."

So just how prominent was it in the early 50's? - Hard to say, but it
had been around since 1916!
regards,

Andy Miller