NEWARK, Del, March 21, 2023 (GLOBE NEWSWIRE) -- Gypsum sales are estimated to reach US$ 7.85 billion in 2023. By 2033, the market may register a 6.2% CAGR, reaching US$ 13.76 billion.
The global gypsum market has had phenomenal expansion in recent years. One of the key elements driving the gypsum mineral market's growth is the expansion of the building sector.
House Interiors are Assimilating Synthetic Gypsum Products to Amplify Organic Gypsum Demand
Construction design has become an art form thanks to modern technology. Gypsum is a material that is becoming more and more well-liked. Synthetic gypsum is an ideal material for interior design considering its potential to insulate areas and conserve energy. It conceals the exposed wiring without looking bulky or out of place. The gypsum mineral is perfect for homes in busy neighborhoods because it can absorb sound.
Gypsum is becoming more and more popular at astounding rates. The commercialization of the home interior and decorative business intends to offer the maximum high-growth prospects for the gypsum market.
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Gypsum's Potential in the Agricultural Industry to Support Gypsum Market Expansion
While farmers have utilized gypsum (calcium sulfate dihydrate) for generations, it has gotten an increased interest in recent years due to various benefits of natural gypsum, including:
- Supply of Calcium and Sulfur for Plant Nutrition: As soil quality deteriorates, plants become more sulfur deficient. Therefore, being a rich supply of sulfur, gypsum powder is gaining popularity as a feasible solution to this problem.
- Improves Acid Soils and Treats Aluminum Toxicity: Gypsum can reduce aluminum toxicity, which frequently coexists with soil acidity, especially in subsoils.
- Improves Soil Structure: Aggregation, or flocculation, is required to establish a soil condition favorable for root development as well as air and water circulation. Natural gypsum has traditionally been employed in sodic soils to improve aggregation and minimize or eliminate dispersion.
Availability of Substitutes to Cap Gypsum Market Growth
Gypsum has various replacements, particularly in the building industry, which may impede the expansion of the gypsum market.
There is no feasible substitute for gypsum in the production of Portland cement. Synthetic gypsum produced by various industrial processes, including FGD of smokestack emissions, is critical as a substitute for natural gypsum in wallboard manufacturing, cement production, and other applications.
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Strong Growth Potential may be Posed by China's Soaring Construction Industry
The construction industry in China has grown tremendously. A survey that was released predicted that in 2023, the value of China's construction industry may surpass US$ 4.5 trillion. A CAGR of 4.1% is anticipated for the gypsum powder market for the projection period.
China's construction industry has potentially given its enormous population and advanced industrial infrastructure. The economy of China has been negatively impacted by the economic slump and the coronavirus outbreak; manufacturing and construction were particularly heavily damaged. The demand for synthetic gypsum may slowly increase over the short term. In the long term, however, the business is going to swiftly recover and present a sizable amount of space for growth.
Key Takeaways
- Natural gypsum may develop at a CAGR of 5.8% in the product type segment from 2023 to 2033.
- Cement in the end-use segment may advance at a CAGR of 6.2% between 2023 and 2033.
- By 2033, the United States gypsum powder market is going to expand at a CAGR of 3.5% and reach US$ 1.047 billion.
- By 2033, the France gypsum market may have matured at a CAGR of 2.4% to reach US$ 218.4 million.
- The German market is likely to register a 3.5% CAGR to attain US$ 162.3 million by 2033.
- By 2033, the China market may accelerate by 4.1% CAGR to surpass US$ 1.6 billion.
- The Japan gypsum market is estimated to progress at 3.1% CAGR by 2033 to achieve US$ 416.8 million.
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Economic Setting
In order to enhance their production capacity and gain access to new distribution networks, well-known enterprises that produce gypsum are emphasizing expansion by building new plants. This may increase their customer base.
The ability to set prices at par with rivals can help gypsum manufacturers avoid the costs associated with price-setting processes that involve trial and error.
Leading gypsum manufacturers dominate the top step on the ladder of the global market. These firms control a huge portion of the market—more than 50%. Knauf AG, LafargeHolcim, Yoshino Gypsum Co. Ltd., Global Mining Company, Saint Gobain, Jonoub Gypsum, Georgia Pacific, Zawami Minerals Co., Rajasthan State Mines, FCI Arawali Gypsum, AI Jood Natural Resources, American Gypsum, and more firms are present in the market.
Recent Breakthroughs
- Acquisition
Southwest Rock Products was acquired by Arcosa Specialty Materials, which was revealed in August 2021. This acquisition aids the business in expanding its line of building products.
- Investment
Knauf AG announced to build second gypsum wallboard production facility in Bukhara, Uzbekistan, in March 2020. The plans also call for spending US$ 2.4 million to add a second gypsum mixture line at the company's Bukharagips factory.
Key Segments
By Product Type:
- Natural
- Synthetic
By End Use:
- Cement
- Drywalls
- Plaster
- Soil Amendment
- Gypsum Blocks
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- The Middle East & Africa
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Table of Content
1. Executive Summary | Gypsum Market
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Technology Roadmap Analysis
1.5. New/Upcoming Projects
1.6. Analysis and Recommendations
2. Market Overview
2.1. Market Taxonomy
2.2. Market Definition
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption Analysis
4.2. Strategic Promotional Strategies
4.3. Technological Innovation
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Old Source: Gypsum Market to reach USD 7.4 Bn by 2031 - Comprehensive Research Report by FMI
