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Synthetic Gypsum Market Analysis

ID: MRFR//6491-HCR | 107 Pages | Author: Snehal Singh| April 2024

The synthetic gypsum market is characterized by dynamic and evolving trends that are shaping the industry landscape. Synthetic gypsum, a byproduct of various industrial processes such as flue gas desulfurization (FGD) in power plants and phosphoric acid production, has gained prominence due to its sustainable and environmentally friendly nature. As the global construction industry continues to grow, the demand for gypsum products, including synthetic gypsum, has witnessed a notable upswing.

One key factor influencing market dynamics is the increasing awareness and emphasis on sustainable building practices. Synthetic gypsum, being a recycled material, aligns with the global push for eco-friendly construction solutions. The construction sector's commitment to reducing its environmental footprint has propelled the adoption of synthetic gypsum as a substitute for natural gypsum in the production of gypsum-based products, such as plasterboard and cement.

Government regulations and policies related to emissions control have also played a pivotal role in shaping the synthetic gypsum market. With stringent regulations aimed at reducing sulfur dioxide emissions from industrial processes, the implementation of FGD systems in power plants has become widespread. This has led to a significant rise in the availability of synthetic gypsum, thereby driving its market growth. Additionally, governments worldwide are promoting the use of synthetic gypsum to foster sustainable practices and reduce dependence on natural resources.

The construction boom in emerging economies is another contributing factor to the market dynamics of synthetic gypsum. Rapid urbanization and infrastructure development projects in countries like China, India, and Brazil have fueled the demand for gypsum-based products. The versatility of synthetic gypsum in construction applications, coupled with its cost-effectiveness, has positioned it as a preferred choice for builders and contractors in these regions.

On the supply side, the market dynamics are influenced by the production processes of synthetic gypsum. As industrial activities generate more byproducts suitable for synthetic gypsum production, the availability of feedstock plays a crucial role. Factors such as advancements in technology for the extraction and processing of synthetic gypsum also impact the market dynamics by influencing production efficiency and cost-effectiveness.

Competitive dynamics within the synthetic gypsum market are marked by the presence of key players striving to gain a competitive edge. Companies are focusing on strategic collaborations, mergers, and acquisitions to strengthen their market position and expand their product portfolios. Moreover, innovations in product development and technology are being pursued to enhance the quality and performance of synthetic gypsum, meeting the evolving demands of end-users.

Market dynamics are further shaped by the fluctuating prices of raw materials and the overall economic climate. Price volatility in natural gypsum and energy costs can impact the production costs of synthetic gypsum, influencing market trends. Economic uncertainties and geopolitical factors also contribute to the ebb and flow of the synthetic gypsum market, as they can affect construction activities and investment decisions globally.

Synthetic Gypsum Market Overview

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

  • 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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