Synthetic Gypsum Market is likely to surpass USD 2.14 billion by 2029, to grow at a CAGR of 4.2% | Exactitude Consultancy

Synthetic Gypsum Market Driven by Increased Adoption of Eco-Friendly Technologies


Luton, Bedfordshire, United Kingdom, March 15, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Synthetic Gypsum Market.

The global synthetic gypsum market is expected to grow at 4.2% CAGR from 2023 to 2029. It is expected to reach above USD 2.14 billion by 2029 from USD 1.48 billion in 2022.

Synthetic gypsum can be made from coal-fired power plants’ waste. Sulphur oxide emissions from coal-fired power plants are high. Regulations such as the clean air act have been put in place to compensate for the harmful effects of sulphur oxide on the environment and public health. As a result of these regulations, more environmentally friendly technologies are being used in fossil-fuelled power plants. For instance, the flue-gas desulfurization (FGD) technology has gained popularity in recent years in the synthetic gypsum market.

Live Get a Sample Report of Synthetic Gypsum Market->

https://exactitudeconsultancy.com/reports/6887/synthetic-gypsum-market/#request-a-sample

This technology produces calcium sulphite, which helps to significantly reduce sulphur oxide emissions. Synthetic gypsum is established by oxidising calcium sulphite. Adoption of such technologies has the potential to significantly influence the economic expansion of the synthetic gypsum market. Because new FGD system purchases have declined in recent years, the replacement component market has grown to be larger than the market for new components. The high annual cost of FGD systems, which includes O&M (operation and maintenance) labour costs, reagent costs, auxiliary power, and maintenance costs, among other things, has created a market for component. Companies are expected to install FGD systems in their power plants due to high market demand for FGD gypsum.

Recent Developments

  • In line with this, in March 2020, Knauf AG announced plans for a second gypsum wallboard production line in Bukhara, Bukhara region. The plans also include an investment of US$ 2.4 Mn in an additional gypsum mixture line at its Bukharagips plant.
  • In August 2021, the company announced acquisition of Southwest Rock Products. This acquisition helps company to develop its construction product portfolio

Asia Pacific is expected to dominate 45% market, owing to rising infrastructural development and construction activities.

The Asia-Pacific region has seen a surge in construction activity. The primary reason for this is significant government investment in the construction sector and infrastructure development. Furthermore, countries with a growing population, such as China and India, may see an increase in per capita construction spending.

Booming Chinese construction sector will offer significant development prospects

The Chinese construction industry has grown considerably over the past few years. A study that was released predicted that in 2022, the value of China's construction industry would exceed US$ 4.5 trillion. A CAGR of 4.1% is anticipated for the business over the course of the projection term.

Indian infrastructure spending to open up fresh development opportunities

The Indian infrastructure sector is a significant driver of the Indian economy. The government is giving this sector a lot of attention because of its significance to India's total economy and capacity to guarantee that world-class infrastructure is built in the nation on schedule. In other words, by encouraging the expansion of related companies like residential and industrial projects, bridges, highways, and building projects, the infrastructure sector serves as a promoter of India's desire for cement.

Benefits Of Gypsum in Agriculture Industry to Foster Market Growth

  • Despite being used by farmers for millennia, gypsum (calcium sulphate dihydrate) has recently attracted fresh interest because of its numerous advantages, including:
  • Supply of Calcium and Sulfur for Plant Nutrition: Due to the declining soil quality's inability to provide sufficient nutrients, plants are becoming more sulphur lacking. Gypsum is becoming more popular as a potential answer to this issue because it is a plentiful supply of sulphur.
  • Improves acidic soils and reduces aluminium toxicity: Gypsum has the power to reduce aluminium toxicity, which frequently coexists with acidity of the soil, especially in subsoils. One of the main advantages of the ingredient is this.
  • Improves soil structure: Aggregation, or flocculation, is essential to establishing an ecosystem in the soil that is favourable for root growth as well as for air and water movement. In sodic soils, gypsum has long been used to improve agglomeration and lessen or completely eradicate dispersion.

Synthetic Gypsum Market: Key Trends

The drive for conservation of natural gypsum is a key factor bolstering the prospects in the synthetic gypsum market. Countries world over prefer synthetic gypsum as a profoundly recyclable material used in the construction industry. The focus of closed loop recycling processes in the construction industry has boosted the outlook of the synthetic gypsum market. Resultantly, investments in the manufacturing of waste gypsum have soared in the developed world. Rise in demand for waste FGD in the construction sector is spurring the prospects in the synthetic gypsum market.

Over the years, countries have also cautiously looked for producing synthetic gypsum that can meet certain specifications. The growing traction of synthetic gypsum with low volatile organic compound (VOC) products is augmenting the prospects in the synthetic gypsum market. The increasing trend of making reclaimed gypsum board more recyclable is boosting the growth of the market. The shift of the energy industry from the use of coal to natural gas is a key deterrent to the production of synthetic gypsum.

Increased demand from the construction industry will propel the market.

The construction industry has seen an increase in the demand for synthetic gypsum. In the construction industry, synthetic gypsum is mostly used as a filler material for cement and plasters to increase their strength and shorten the time it takes for the concrete to set. It is also used in the production of decorative panels and plaster of Paris. FGD gypsum, a type of synthetic gypsum, is primarily used in the construction industry to make cement, drywall, and plaster of Paris. Because FGD gypsum is essentially recyclable in nature, it is commonly used by manufacturers. Plaster of Paris is primarily used to create decorative panels, structures, and sculptures. Many developing countries’ governments are focusing on developing and improving their infrastructure, and they are enacting numerous reforms and regulations that will aid in the growth of the real estate and infrastructure industries. All of these regulations and reforms are expected to have a positive impact on the construction industry, increasing demand for synthetic gypsum during the forecast period.

Synthetic Gypsum Market Report Scope

Report AttributeDetails
Market size value in 2022USD 1.48 billion in 2022
Revenue forecast in 2029USD 2.14 billion by 2029
Growth rateCAGR of 4.2% from 2023 to 2029
Base year for estimation2022
Historical data2018 - 2022
Forecast period2023 - 2029
Quantitative unitsVolume in kilo tons, revenue in USD million and CAGR from 2023 to 2029
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments coveredProduct, application, region
Regional scopeNorth America; Europe; China; Asia; Pacific; Central & South America; MEA
Key companies profiledLafargeHolcim, Compagnie de Saint-Gobain S.A., National Gypsum Properties LLC, Knauf Gips KG, Boral limited, PABCO Building Products, LLC, USG Corporation, American Gypsum, FEECO International, Inc., Synthetic Material LLC, Georgia Pacific Gypsum LLC, Gyptec IBERICA, and Delta Gypsum.
Market DriversRising construction industry demand for cement, plaster, and drywall products is expected to drive the synthetic gypsum market

Synthetic Gypsum Market Players

The synthetic gypsum market key players include LafargeHolcim, Compagnie de Saint-Gobain S.A., National Gypsum Properties LLC, Knauf Gips KG, Boral limited, PABCO Building Products, LLC, USG Corporation, American Gypsum, FEECO International, Inc., Synthetic Material LLC, Georgia Pacific Gypsum LLC, Gyptec IBERICA, and Delta Gypsum.

To increase the market position, these businesses have implemented a variety of growth tactics. These companies are using expansion, new product development, mergers and acquisitions, and collaboration as important growth strategies to improve their product portfolio and geographical presence in order to meet the rising demand for Printing Ink from emerging economies.

Browse Full Premium Report->

https://exactitudeconsultancy.com/reports/6887/synthetic-gypsum-market/

Key Market Segments: Synthetic Gypsum Market

Synthetic Gypsum Market by Type, 2023-2029, (USD Billion), (Kilotons)

  • FGD Gypsum
  • Citrogypsum
  • Fluorogypsum
  • Phoshogypsum

Synthetic Gypsum Market by Application, 2023-2029, (USD Billion), (Kilotons)

  • Cement
  • Drywall
  • Soil Amendment
  • Dental

Market Trends, Drivers, Restraints, and Opportunities:

  • Rising investments in R&D activities is estimated to fuel market growth during the forecast period.
  • High demand for environmentally friendly and cost-efficient products is estimated to fuel the need for synthetic gypsum.
  • Increasing demand for sustainable buildings and construction activities is encouraging the use of synthetic gypsum.
  • Growing adoption of FGD in coal-fired plants is expected to boost the market growth.
  • Imposition of strict norms by government and regulatory authorities to curb the environmental impact caused by coal plants is increasing the adoption of the FGD technology by the current as well as new coal power plants to increase the production, thereby propelling the growth of the market.
  • The recyclable nature of the synthetic gypsum is expected to drive the market in the coming years.

Key Factors: Synthetic Gypsum Market

  • The product accounts for around 20% of U.S. raw gypsum use and is produced from the byproducts of manufacturing and energy-generating processes, primarily from desulfurization of coal-power-plant exhaust gases.
  • Gypsum board manufacturers are increasingly banking on synthetic gypsum as an adequate substitute for natural gypsum. Gypsum board is the most commonly used indoor building material in the U.S.
  • The easy accessibility of inexpensive natural gas, on the other hand, may limit the additional construction of FGD units and, hence, the use of the product in the wallboard.
  • In 2018, the product contributed to more than 50% of the total domestic gypsum supply.
  • Synthetic gypsum products have more considerable advantages over naturally occurring products in terms of costs and environmental impacts.
  • The application of FGD gypsum in agriculture occupies the third spot only to wallboard production and as a raw feed for cement clinker.
  • In April 2022, British Gypsum, a leading player in the market, rebranded their Thistle performance plasters to ThistlePro. The rebranding has been done to provide an easier reference to installers and merchants to identify the correct plaster for a particular job.
  • In April 2022, Knauf, a leading player in the market, announced the completion of the acquisition of USG Corporation. The acquisition made Knauf, a worldwide building materials industry leader that would be better positioned to cater to customers’ needs by leveraging two extremely complementary trades, product portfolios, and global footprints.

Key Question Answered

  • What is the current size of the synthetic gypsum market?
  • What are the key factors influencing the growth of synthetic gypsum?
  • What are the major applications for synthetic gypsum?
  • Who are the major key players in the synthetic gypsum market?
  • Which region will provide more business opportunities for synthetic gypsum in future?
  • Which segment holds the maximum share of the synthetic gypsum market?

Discover more research Reports:

The global Glass Fiber Reinforced Gypsum Market is expected to grow at 6.85% CAGR from 2023 to 2029. It is expected to reach above USD 5.14 billion by 2029 from USD 2.86 billion in 2022.

The Global Crop Protection Chemicals Market size was valued at USD 61.4 billion in 2022 and is projected to reach a value of USD 84.41 billion by 2029, growing at a CAGR of 3.6 % during the forecast period.

The global alumina trihydrate market is projected to reach USD 1.84 billion by 2029 from USD 1.16 billion in 2022, at a CAGR of 5.2% from 2023 to 2029

The Global Heat Transfer Fluids market is estimated to be USD 3.38 billion in 2022 and is expected to grow to USD 6.88 billion at the CAGR of 9.3% by 2029.

About Exactitude Consultancy

Exactitude Consultancy is a market research & consulting services firm which helps its client to address their most pressing strategic and business challenges. Our market research helps clients to address critical business challenges and also helps make optimized business decisions with our fact-based research insights, market intelligence, and accurate data.

Contact us

for your special interest research needs at sales@exactitudeconsultancy.com and we will get in touch with you within 24hrs and help you find the market research report you need.

Website: https://exactitudeconsultancy.com/

+91-7507-07-8687



Contact Data