Synthetic gypsum is mostly used in the construction and the agricultural industries. The growth of the construction industry across the world has increased the demand for decorative structures and drywall which has propelled the demand for synthetic gypsum. Furthermore, the use of synthetic gypsum as a filler in the cement production process bolsters the growth of synthetic gypsum market.
In 2019, North America contributed to the largest share in the global synthetic gypsum market. The growth of the market in North America is attributed to the growing construction industry in the US and emergence of various FGD system companies in North America. Due to the rising urbanization and industrialization, the construction activities in the region are escalating. This is stimulating the demand for urban renewal projects, which is propelling the demand for synthetic gypsum that is used in making cement, drywall, and decorative structures.
The COVID-19 outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and largest raw material supplier for various industries, and it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting the manufacturing activities, delivery schedules, and various chemicals & materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the chemicals & materials industry, and thus act as restraining factors for the growth of various markets related to this industry.
The demand for synthetic gypsum has been on a rise in the construction industry. In the construction industry, synthetic gypsum is mostly used as a filler material for the cement and the plasters to enhance their strength and also to reduce the setting time of the concrete. It is also used to make decorative panels and plaster of paris. FGD gypsum, which is one of the types of synthetic gypsum, is mainly used in the construction industry to manufacture cement, drywall, and plaster of paris. FGD gypsum is basically recyclable in nature and thus, is mostly used by the manufacturers. Plaster of Paris is basically used for making decorative panels, structures, and sculptures. The demand for these structures and sculptures are increasing in the construction industry, which is leading to an increase in the demand of synthetic gypsum. The governments of many developing countries are focusing on developing and improving their infrastructure and are introducing many reforms and regulations that will help in boosting the real-estate and infrastructure industries. All these regulations and reforms are expected to have a positive impact on the construction industry, which would boost the demand for synthetic gypsum in the forecast period.
Based on type, the synthetic gypsum market is segmented into FGD gypsum, Flurogypsum, Phosphogypsum, Citrogypsum, and Others. The FGD gypsum segment led the market with the largest share in 2019. FGD gypsum is basically the gypsum obtained from the flue gas desulfurization systems. The sulfur is mostly removed from the flue gas, which can be done through the help of lime in the flue gas desulfurization system. The FGD gypsum mostly has the same chemical identity as that of a natural gypsum, and it is considered as a gypsum of greater purity. The use of FGD gypsum is considered as ecologically beneficial. FGD gypsum has agricultural applications and can be used in soil and hydrogeologic conditions for the purpose of soil conservation and industrial material recycling. The process through which FGD gypsum is manufactured is eco-friendly and provides an ecological source of pure gypsum. FGD gypsum has various applications in processes such as cement production, water treatment, glass making, mining applications, gypsum panel products, highway construction, and agriculture. It can also be used as a source of nutrition for crops.
A few key market players operating in the synthetic gypsum market are Drax Group PLC, American Gypsum, USG Corporation, Larargeholcim, Travancore Titanium Products Limited, Knauf Gips KG, Transparent Tehcnologies Limited, BauMineral GMBH, Steag GMBH, and Boral. Major players in the market are focusing on strategies such as mergers and acquisitions, and product launches to expand their geographical presence and consumer base globally.
The regional trends and factors influencing the Synthetic Gypsum Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Synthetic Gypsum Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 1.24 Billion |
| Market Size by 2027 | US$ 1.69 Billion |
| Global CAGR (2019 - 2027) | 4.0% |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Synthetic Gypsum Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Synthetic Gypsum Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The List of Companies - Synthetic Gypsum Market
Phosphogypsum is basically referred to those gypsum which are formed are mostly formed when phosphate ore is processed into fertilizer which is done through the usage of sulfuric acid. Phosphogypsum is a reusable and a safe resource which has various applications. The gypsum contains low concentration of radium which is obtained from the source rock, which must be characterized carefully because on the basis of the levels the regulators may need to specify certain restrictions. Phosphogypsum can be used in various applications in the segments like agriculture, building materials, roads construction and more. It is a multi-nutrient Sulphur rich-fertilizer which can be used as soil amendment in order to displace the high levels of sodium and magnesium salts.
The major players operating in the global avocado oil market are Drax Group PLC, American Gypsum, USG Corporation, Larargeholcim, Travancore Titanium Products Limited, Knauf Gips KG, Transparent Tehcnologies Limited, BauMineral GMBH, Steag GMBH, and Boral.
In 2019, North America contributed to the largest share in the global synthetic gypsum market. The growth of the synthetic gypsum market in North America is attributed to the construction industry in the U.S. as well as emergence of various FGD system companies in the North American region. Due to the rising urbanization and industrialization, the construction activities in the region are escalating. This is stimulating the demand for urban renewal projects which will increase the demand for synthetic gypsum that will be used in making cement, drywall and decorative structures which will drive the growth of synthetic gypsum market in North America.