Increased Usage of Synthetic Gypsum Materials in House Interiors to Strengthen Market Growth

Jan 23, 2024

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. 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.

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.

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:

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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.

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

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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.

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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