New York, March 29, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Synthetic Gypsum Global Market Report 2022" - https://www.reportlinker.com/p06248438/?utm_source=GNW
, National Gypsum Company, PABCO Gypsum, Synthetic Materials Llc, USG Corporation, Constantia Building Products AG, BauMineral GMBH, Compagnie de Saint-Gobain SA, Drax Group PLC, Saint-Gobain, Steag GMBH, Transparent Tehcnologies Limited, Travancore Titanium Products Limited, and Synthetic Material LLC.
The global synthetic gypsum market is expected to grow from $1.41 billion in 2021 to $1.47 billion in 2022 at a compound annual growth rate (CAGR) of 4.42%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $1.76 billion in 2026 at a CAGR of 4.51%.
The synthetic gypsum market consists of sales of synthetic gypsum by entities (organizations, sole traders, and partnerships) that manufacture synthetic gypsum.Synthetic gypsum is the co-product of various industrial processing.
Synthetic gypsum is mainly composed of calcium sulfate dihydrate which is mainly used in the construction and agricultural industry for cement production, soil conditioning and others.
The main types of synthetic gypsum are Citrogypsum, Fluorogypsum, Phosphogypsum and Titanogypsum.Citrogypsum is obtained as a by-product in citric acid manufacturing.
Fluorogypsum is a by-product of hydrofluoric acid manufacturing.Phosphogypsum is a by-product of phosphoric acid manufacturing.
Titanogypsum is a by-product of titanium dioxide acid manufacturing. These synthetic gypsum types are mainly used in the chemical and agriculture industry.
North America was the largest region in the synthetic gypsum market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.
The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The growth of the construction industry is significantly contributing to the growth of the synthetic gypsum market.Synthetic gypsum and many of its products are mainly used in the construction sector for finishing mortar, model making, wall surface putty, and others.
There is rapid growth in the construction industry due to favorable macroeconomic conditions, rising disposable incomes, and low-interest rates. For instance, according to the National Investment Promotion and Facilitation Agency, the construction industry in India is expected to reach $1.4 trillion by 2025. The real estate industry in India is expected to reach $1 trillion by 2030.
Increasing adoption of Flue-Gas Desulfurization (FGD) technology is a major trend in the synthetic gypsum market.FGD is a process of removing sulphur compounds from the emissions of fossil fuel power plants.
This technology results in an increase in production of synthetic gypsum.Mitsubishi Power, for example, supplies FGD plants worldwide which prevent air pollution through its wet limestone-gypsum FGD process and seawater FGD process.
India is planning to install FGD systems in a large number of coal-based thermal power plants by 2022.
In December 2021, Saint-Gobain, a French company that designs, manufactures, and distributes materials that are key ingredients of construction material, entered into a definitive agreement to acquire GCP Applied Technologies for $2.3 billion. This acquisition helps the company to establish a leading position worldwide in construction chemicals. GCP Applied Technologies is an American-based company that sells various materials and chemicals that are used in construction as well as sealants and coatings used in packaging.
The countries covered in the Synthetic Gypsum market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Read the full report: https://www.reportlinker.com/p06248438/?utm_source=GNW
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