New York, United States , July 22, 2024 (GLOBE NEWSWIRE) -- The Global Synthetic Gypsum Market Size is to Grow from USD 1.75 Billion in 2023 to USD 2.78 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 4.74% during the projected period.
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Synthetic gypsum is a man-made version of the soft sulfate mineral gypsum used largely for flue-gas desulfurization in some coal-fired power plants. Synthetic gypsum can be used interchangeably with natural gypsum in various applications, including fertilizer, as the principal component in several types of plaster, blackboard/sidewalk chalk, drywall, and ornamental purposes. It can be used to create molds for dinnerware and dental impressions, as well as to construct roads and highways. This low-cost, basic chemical can be found in numerous household items, food and hygiene products, cosmetics, and even medical applications. Synthetic gypsum materials are the byproducts of industrial processes such as flue gas desulfurization and scrubbing in fossil-fueled power plants. Synthetic gypsum is composed of hydrated calcium sulfate and has properties similar to natural gypsum. Rapid urbanization in emerging nations is driving up demand for construction materials, particularly synthetic gypsum. As more people move to cities, there is a greater need for more housing, infrastructure, and commercial structures. Furthermore, Manufacturers and individuals are probably concerned about its purity and performance in comparison with natural gypsum.
Browse key industry insights spread across 198 pages with 110 Market data tables and figures & charts from the report on the "Global Synthetic Gypsum Market Size, Share, and COVID-19 Impact Analysis, By Product (Flue Gas Desulfurization (FGD) Gypsum, Fluorogypsum, Phosphogypsum, Citrogypsum, and Others), By Application (Drywall, Cement, Soil Amendments, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The flue gas desulfurization (FGD) segment dominates the market with the highest market share of the synthetic gypsum market during the projected timeframe.
Based on the product, the synthetic gypsum market is divided into flue gas desulfurization (FGD) gypsum, fluorogypsum, phosphogypsum, citrogypsum, and others. Among these, the flue gas desulfurization (FGD) segment dominates the market with the highest market share of the synthetic gypsum market during the projected timeframe. FGD gypsum, produced by flue gas desulfurization systems in power plants, is one of the most widely used forms due to its availability and purity. As environmental limitations tighten, demand for FGD gypsum as a sustainable alternative to natural gypsum in the construction and industrial industries is expected to rise significantly.
The drywall segment holds the highest market share in the synthetic gypsum market during the projected timeframe.
Based on the application, the synthetic gypsum market is categorized into drywall, cement, soil amendments, and others. Among these, the drywall segment holds the highest market share of the synthetic gypsum market during the projected timeframe. Drywall manufacture primarily depends on synthetic gypsum for its lightweight, fire-resistant, and mold-resistant properties, meeting the construction industry's demand for high-quality building materials. Rising worldwide building activity, fueled by growing urbanization in developing countries, is driving demand for drywall, resulting in market growth.
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North America is expected to hold the largest share of the Synthetic Gypsum Market over the forecast period.
North America is expected to hold the largest share of the Synthetic Gypsum Market over the forecast period. North America has frequently been a major consumer and manufacturer of synthetic gypsum due to tight environmental regulations and a well-established construction industry. The region's commitment to sustainable construction standards drives demand for synthetic gypsum. Due to the increasing requirement for research into synthetic gypsum production. North American governments have put in place supportive rules and legislation to encourage the use of synthetic gypsum as a more environmentally friendly alternative to natural gypsum. These programs promote research and development (R&D) in synthetic gypsum technology, hence increasing its use.
Europe is predicted to grow at the fastest pace in the Synthetic Gypsum Market during the projected timeframe. Due to the expanding construction industry, rigorous environmental regulations, and rising demand for sustainable gypsum. The European construction business is notable for its considerable emphasis on restoration and renovation activities, particularly in older buildings. Synthetic gypsum is a popular material for interior wall and ceiling applications because it is inexpensive and versatile. The European Union (EU) member states have passed stringent environmental legislation aimed at reducing the environmental impact of the construction industry. Synthetic gypsum is a more sustainable alternative to natural gypsum because it is created from industrial waste materials, removing the need to harvest natural gypsum.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the synthetic gypsum market are USG Corporation, Knauf Gips KG, American Gypsum Company, LLC, BauMineral, Travancore Titanium Products Limited, Constantia Building Products, National Gypsum Company, Delta Gypsum, Winstone Wallboards Limited, Yoshino Gypsum Co., Ltd., Transparent Tehcnologies Limited, Boral Limited, Saint-Gobain S.A, and Synthetic Materials LLC., and others.
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Recent Developments
In October 2023, Beneficial Reuse disclosed the acquisition of USA Gypsum. BRM's acquisition of USA Gypsum provides the company with a strategic opportunity to extend its gypsum supplies by adding recycled drywall debris.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the synthetic gypsum market based on the below-mentioned segments:
Global Synthetic Gypsum Market, By Product
- Flue Gas Desulfurization (FGD) Gypsum
- Fluorogypsum
- Phosphogypsum
- Citrogypsum
- Others
Global Synthetic Gypsum Market, By Application
- Drywall
- Cement
- Soil Amendments
- Others
Global Synthetic Gypsum Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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