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Evolving trends define the current state of synthetic gypsum industry’s landscape which is full of dynamic characteristics. For instance, synthetic gypsum has been developed from other industrial processes such as flue gas desulphurization (FGD) in power plants or phosphoric acid production for ecological reasons. World construction industry majorly contributed to increased demand for synthetic gypsum like other types of gypsum materials.
One thing having an impact on market dynamics is increasing awareness and emphasis on green building practices. As recycled material, the use of synthetic gypsum falls under global initiatives for environmentally friendly buildings. Thus, there has been an ongoing trend in construction; using synthetic instead natural gypsum in making plasterboard or cement among other gypsum-based products lowers its carbon foot print.
Governments have also had a crucial role regarding regulation and policy making especially emissions control directed towards this particular type of mineral resources within its man-made forms. Industrial directives dictated FGD systems installations which were higher than before due to stringent standards requiring reduction in emissions resulting from sulfur dioxide occurring from these industrial procedures by coal based power generation plants. Consequently significant quantities of synthetic gypsum became available leading to its expanded market. Governments all over the world are encouraging the use of synthetic gypsum in order to minimize dependency on natural resources.
Moreover, there is also a direct influence on dynamics of the synthetic gypsum market today caused by a construction boom in developing countries. The rate of urbanization and infrastructure development projects in countries like China, India and Brazil has boosted demand for gypsum based products. Cheapness and versatility while constructing materials have made synthetic gypsum preferable option especially for builders and developers within these areas.
Synthetic Gypsum’s supply side market dynamics are influenced by its production processes. Industrial activities generate more such by-products which act as feedstock for producing synthetic gypsum. Efficiency and cost are among the factors that can be affected by technological advancements in methods used to extract or process synthetic gypsum thus influencing market dynamics.
Within the synthetic gypsum market there is a competition between several major firms. They are emphasizing on strategic alliances, mergers and acquisitions to strengthen their positions in different markets while increasing their product variety. Also, there have been investments on product development and technology to enhance the quality and performance of synthetic gypsum in meeting changing user requirements.
Fluctuation in raw material prices and overall economic climate also affects Market dynamics. Volatile price changes in natural gypsum and energy costs can affect production costs of these products thereby influencing market trends. Besides this, it can influence building activities across various nations that may indirectly cause either inflows or outflows globally due to economic uncertainties or geopolitical factors.
Synthetic Gypsum Market Highlights:
Global Synthetic Gypsum Market Overview
Synthetic Gypsum Market Size was valued at USD 1,757.3 million in 2023. The synthetic gypsum industry is projected to grow from USD 1,821.4 million in 2024 to USD 2,522.8 million by 2032, exhibiting a compound annual growth rate (CAGR) of 4.16% during the forecast period (2024 - 2032). The market of synthetic gypsum has been witnessing moderate growth in the past couple of years. The demand for synthetic gypsum is expected to be driven by growing the construction in the emerging economies, the increase in urban population, and the various applications in the agriculture industry.
Regional Analysis
The global synthetic gypsum market has been segmented into regions of North America, Europe, Asia-Pacific, and Rest of the world (RoW). Asia-Pacific held the largest share of the global market, followed by North America and Europe in 2020. The reason for the market growth is the presence of population dense countries, such as China and India.
The growth of the construction industry and the improvement in financial conditions are anticipated to drive the global synthetic gypsum market in this region. Moreover, rapid industrialization and urbanization in emerging economies, such as China, India, and Japan are expected to contribute significantly to the market growth.
Market Players
The players in the synthetic gypsum market include LafargeHolcim (Switzerland), NATIONAL GYPSUM (US), Knauf Gips KG (Germany), American Gypsum (US), Georgia-Pacific Gypsum LLC (US), Synthetic Materials (US), PABCO Gypsum (US), Saint-Gobain (France), Gyptec IBÉRICA (Portugal), FEECO International, Inc. (US), and CONTINENTAL BUILDING PRODUCTS (US).
Market Segmentation
The global synthetic gypsum market has been segmented based on type and application. On the basis of type, the market has been segmented as FGD gypsum, citrogypsum, fluorogypsum, phosphogypsum, and others. The FGD gypsum segment held the largest market share in market of synthetic gypsum in 2018 and is expected to grow at the highest CAGR during the forecast period. The market of FGD gypsum is growing with the growth in the agriculture sector as it is used as a fertilizer for improving crop yield. It meets the need for as sulfur or calcium fertilizer in the soil.
On the basis of application, the market has been segmented into cement, drywall, soil amendment, glass manufacturing, plaster, and others. The drywall segment held the largest market share in the synthetic gypsum market due to the growing various construction activities in emerging countries. With the growing urbanization, there has been a corresponding need for residential spaces, which lead to the demand for synthetic gypsum.
The global synthetic gypsum market is fairly competitive with a moderate number of players, across the globe. The players are expected to adopt various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include focus on high quality product, cost-effectiveness, strategic mergers and acquisitions.
Synthetic gypsum is extensively used in construction applications, such as drywall, cement, and plaster. Governments are focused on developing their infrastructure for the improvement of regions and countries. Therefore, they are introducing various reforms and regulations for boosting their infrastructure and real-estate industries. Such regulations are expected to enable the growth of the construction industry, driving the synthetic gypsum market. Investments in the research and development activities is an opportunity in the market growth.
Intended Audience
- Raw material suppliers
- Synthetic gypsum distributers/suppliers
- End users
- Product manufacturers
- Regulatory bodies
- Environmental protection bodies
- Market research and consulting firms
- Associations and industrial bodies
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