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As every market does, the synthetic gypsum market is influenced by some factors that shape its behavior and determine the growth path. The biggest of them all involves the increased demand for green building materials driving this market. Consequently, the construction industry turns to more sustainable alternatives in response to concerns towards environment with synthetic gypsum made out of waste generated into industries serving as a perfect match. In fact, applying it in construction not only cuts down on its carbon emissions but also helps manage waste.
During forecast period 2022-2030, it is estimated that Synthetic Gypsum Market will grow at a CAGR of about 4.5% and will have an approximate value of $2.23 billion by the end of forecast period.
In addition, government regulations play a role in shaping the synthetic gypsum market. To control pollution from factories most countries have enacted stringent environmental laws hence prefer artificial gypsum to natural one as they are alternative sources. This has led to cleaner technologies adopted in various industries increasing again their need for synthetic gypsum under such regulatory context.
On another hand, construction industry remains a vital factor driving growth of synthetic gypsum market. Increase in Gypsum based product demand due to rising urbanization and infrastructure development leads into surge in several countries across globe activities related with construction . For this reason rapidly growing markets for Synthetic Gypsum especially due to affordability and environmental sustainability issues associated with its use.
Similarly rising awareness among users about benefits associated with synthetic Gypsum drives their usage even more widening its market size and scope throughout construction sector thereby expanding business areas incorporating these elements into final goods too.
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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