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In recent years the Synthetic Gypsum market has observed significant trends that reflect changes taking place in construction as well as manufacturing industries. One notable trend is increasing demand for environmentally friendly and sustainable building materials due to rising awareness about environmental issues. Another choice rather than the old-fashioned naturally occurring deposit-derived gypsum called synthetic gypsum is produced during various industrial processes.
One important reason behind this trend is growing concerns about ecological footprints from construction projects. This leads land degradation, habitat loss among others when mining mineral deposits occurs. Conversely, power plants utilize flue gas desulphurization (FGD) and phosphoric acid production systems generate a waste known as synthetic gypsum through industrial process generation system which does not require landfilling but recycling them back into industry reducing its environmental consequences.
Moreover, the construction sector has been using synthetic gypsum so as they can be LEED (Leadership in Energy and Environmental Design) certified for sustainability purposes. These certifications make companies think apart from using conventional natural gypsum towards alternative solutions like synthetic one which impacts environment lesser.
Furthermore, improved cooperation amongst different sectors is another relevant trend within the market leading to better ways of producing and utilizing synthetic gypsum by industries within an economy. In capturing and processing FGD gypsum, power plants are working together with gypsum manufacturers. In this way, these industries become closed loop systems whereby their industrial by-products are internalized within themselves, thus promoting sustainability as well as resource efficiency.
The rise of the Synthetic Gypsum market has been fueled by technology. Ongoing research and development have led to improved synthetic gypsum processing and refining techniques that meet end-users’ needs at lesser costs. Through these technological developments, issues regarding quality and consistency in synthetic gypsum have been addressed; hence they can be used similarly to natural gypsum for a wide range of applications such as construction, agriculture or manufacturing.
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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