Global Gypsum Market Projected to Reach USD 13.76 billion in 2033, Driven by Rising Demand in the Building Industry – FMIBlog

The global gypsum industry size has had phenomenal expansion in recent years. By 2033, the market may register a 6.2% CAGR, reaching USD 13.76 billion. Gypsum sales are estimated to reach USD 7.85 billion in 2023. One of the key elements driving the gypsum mineral market’s growth is the expansion of the building sector.

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:

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%.

Prominent Economic Actors of the Market

Recent Breakthroughs

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.

Knauf AG announced to building 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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Read Complete Source: Gypsum Market is projected to reach a revenue of US$ 13.76 Billion by 2033 and registering a healthy CAGR of around 6.2% | Future Market Insights, Inc.

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