ID: MRFR/CO/6491-HCR | 107 Pages | Published By Snehal Singh on March 2023
Synthetic gypsum market is expected to witness a CAGR of around 4.5% during the forecast period and is expected to be valued at USD 2.23 billion by the end of the forecast period 2022-2030.
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
Report Attribute/Metric | Details |
聽聽Market Size | 路聽 2030: USD 2.23 Billion |
聽聽CAGR | 聽聽4.5% CAGR (2022-2030) |
聽聽Base Year | 聽聽2021 |
聽聽Forecast Period | 聽聽聽2022聽to聽2030 |
聽聽Historical Data | 聽聽2019聽&聽2020 |
聽聽Forecast Units | 聽聽Value (USD Billion) |
聽聽Report Coverage | 聽聽Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
聽聽Segments Covered | 聽聽Type, Application, Region |
聽聽Geographies Covered | 聽聽North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
聽聽Key Vendors | 聽聽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 IB脡RICA (Portugal), FEECO International, Inc. (US), and CONTINENTAL BUILDING PRODUCTS (US). |
聽聽Key Market Opportunities | 聽聽New product launches and R&D Amongst major key Players |
聽聽Key Market Drivers | 路聽 Urbanization and growing demand from the construction sector 路聽 growing various construction activities |
The global synthetic gypsum market is predicted to grow at a 4.5% CAGR between 2022- 2030.
The synthetic gypsum market is predicted to reach USD 2.23 billion by 2030.
Asia Pacific will lead the global synthetic gypsum market.
Urbanization and growing demand from the construction sector are the key factors driving the global synthetic gypsum market growth.
Key contenders profiled in the global synthetic gypsum market include NATIONAL GYPSUM (US), Knauf Gips KG (Germany), LafargeHolcim (Switzerland), American Gypsum (US), and Georgia-Pacific Gypsum LLC (US). Synthetic Materials (US), PABCO Gypsum (US), Saint-Gobain (France), Gyptec IB脡RICA (Portugal), FEECO International, Inc. (US), and CONTINENTAL BUILDING PRODUCTS (US) are among others.