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I AgreeAnalysis of Synthetic Gypsum market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
The global synthetic gypsum market stands at US$ 1.56 Bn in 2022, and is forecast to climb to a valuation of US$ 2.17 Bn by 2032, registering a CAGR of 3.4% from 2022 to 2032.
Worldwide consumption of synthetic gypsum is likely to grow on the back of its economic and environmental benefits, being an apt alternative to natural gypsum.
Report Attributes |
Details |
---|---|
Synthetic Gypsum Market Size (2021A) |
US$ 1.52 Bn |
Estimated Market Value (2022E) |
US$ 1.56 Bn |
Forecasted Market Value (2032F) |
US$ 2.17 Bn |
Global Market Growth Rate (2022-2032) |
3.4% CAGR |
North America Market Share (2021) |
~32% |
North America Growth Rate (2022-2032) |
~3.5% CAGR |
U.S. Growth Rate (2022-2032) |
~2.5% CAGR |
Market Share of Top 3 Companies |
~18% |
Key Companies Profiled |
|
The synthetic gypsum market is likely to witness enhanced growth in the APAC and North American regions, with these regional markets witnessing growth at 3.8% and 3.5%, respectively.
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Synthetic gypsum is the by-product of coal-powered fire plants and industrial processing. It serves as an alternative to natural gypsum and carries the same composition as that of natural gypsum, thereby conserving natural resources. This sustainable by-product is proving to be beneficial from an economic standpoint and is creating additional revenue streams that would normally incur waste management costs.
According to the Gypsum Association, members have been safely and successfully deploying technologies to use FGD gypsum as a prime ingredient in the manufacturing of gypsum panels for more than 20 years. Moreover, the use of synthetic gypsum is more environmentally-preferable as it conserves energy and water, does not need landfills, and also preserves natural resources.
Fact.MR projects the synthetic gypsum market to witness growth at 3.4% CAGR during 2022 and 2032 in comparison to the CAGR of 2.7% experienced during 2017 and 2021.
Above image delivers an outlook of the analysis of the market share of type, application, and region. FGD gypsum, under type, dominates the demand pie by holding 35.7% market share, as of 2021.
“Increasing Use of Gypsum Products in Home Interiors”
Nowadays, gypsum is widely used for home interiors, where interior surfaces are covered with blocks, plasterboards, or plaster. Plasterboards are used for partitions, lining of roofs, ceilings, walls, and floors, and their properties allow for modifications according to certain requirements such as humidity, fire, impact resistance etc.
Gypsum fiberboards are being used as decorative plaster to create an effective and aesthetically pleasing lining of brick and block walls, as a building plaster for walls and ceilings. Standard gypsum fiberboards offer good performance when it comes to sound insulation, impact resistance, and humidity resistance.
All these factors are poised to increase synthetic gypsum demand 1.4X over the period of 2022-2032.
“Numerous Benefits of Synthetic Gypsum to Fuel Market Demand”
Synthetic gypsum provides multiple economic and environmental benefits. On the economic front, the manufacturing of synthetic gypsum creates additional revenues, which otherwise would have led to waste management costs. The material does not land up in landfills since a valuable by-product is generated, thereby reducing environmental pollution.
Furthermore, augmented creation of synthetic gypsum reduces the need to mine resources, leading to the conservation of natural gypsum. Synthetic gypsum offers numerous benefits of costs and environmental impacts over other natural gypsum products.
This factor is poised to fuel market demand by ~23% of current levels over coming years.
In addition to the above factors, all natural and synthetic gypsum products are considered green because of their recycling capabilities. Gypsum is recyclable and is a rare example of closed loop recycling where product waste is used to make the same product over and over again.
This green property is likely to provide additional 2.3X demand over the forecast years of 2022-2032.
“North America Synthetic Gypsum Market to Account for One-third Share”
The North America synthetic gypsum market accounts for the largest market share of 32.4%, and is projected to expand at a CAGR of 2.5% during the forecast years.
In North America, the United States holds the largest market share of 87.4% and is set to reach US$ 624.4 Mn by 2032.
Growth of this regional market is attributed to the widespread use of synthetic gypsum owing to its ready availability in different parts of the region. Moreover, the cost of synthetic gypsum is low as compared to mined crude gypsum in the region.
As such, synthetic gypsum consumption is likely to witness an increase by several end-use industries over coming years, according to the study by Fact.MR.
“APAC Market Flourishing, Dominated by China”
The APAC synthetic gypsum market holds 28.3% of the global market share, and is set to grow at the rate of 2.7% over the assessment period.
In APAC, China dominates the market and holds 44.5% of the overall market share, and is slated to register 4% CAGR during the forecast years.
Growth of the APAC market is mainly attributed to rising infrastructural activities in emerging economies such as India and China. High developmental pace of infrastructure requires faster and cost-effective construction of buildings and other facilities, without compromising on quality, which is supporting demand growth of synthetic gypsum in the Asia Pacific region.
Along with this, augmented investment projects undertaken by governments in the region represents sound growth and revenue potential for the synthetic gypsum manufacturers over the coming years.
“Demand for FDG Gypsum to Remain Highest across the World”
By type, the synthetic gypsum market is segmented into FGD gypsum, flurogypsum, phosphosypsum, citrogypsum, and other types. Amongst them, FGD gypsum dominates with 35.7% of the overall synthetic gypsum market share, and is projected to register 3.8% CAGR over the forecast years.
Rising demand for FGD gypsum is attributed to the fact that flue gas desulfurization (FGD) gypsum consumes less water and energy, coupled with avoiding landfills and preserving natural resources. As natural and FGD gypsum share the same chemical composition, more than 50% of the gypsum used in the manufacturing of gypsum boards is synthetic gypsum.
Segments that follow are flurogypsum and phosphosypsum holding 23.6% and 19.0% market shares, respectively, and are projected to grow at 2.5% and 2.2% CAGRs over through 2032.
“Drywall Application of Synthetic Gypsum to Be Most Popular”
Under application, the synthetic gypsum market is segmented into drywall, cement, soil amendment, and other applications. The drywall segment holds the largest market share of 56.1% and is projected to increase at a CAGR of 3.9% over the assessment period.
Application of synthetic gypsum in drywall makes for a less energy-intensive product. More than 50% of drywall factories are using synthetic gypsum and are incorporating recycled materials into drywall, leading to enhanced consumption.
Cement and soil amendment applications hold 23.6% and 14.5% market shares, respectively, and are projected to expand at 2.8% and 2.6% CAGRs over the decade.
The global synthetic gypsum market is highly fragmented and competitive in nature owing to the existence of many domestic and regional players. Various marketing strategies are adopted by key players such as mergers & acquisitions, expansions, collaborations, and partnerships.
Also, new product development, as a strategic approach, is adopted by leading synthetic gypsum suppliers to upscale their market presence among consumers. These strategies have resulted in the growth of synthetic gypsum market.
Fact.MR has provided detailed information about the price points of key manufacturers in the synthetic gypsum market positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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The global synthetic gypsum market is estimated to be worth US$ 1.56 Bn in 2022.
Synthetic gypsum demand is anticipated to reach US$ 2.17 Bn by 2032-end.
Over the period of 2017-2021, global synthetic gypsum sales increased at 2.7% CAGR.
Some of the prominent players in the synthetic gypsum market are USG Corporation, Delta Gypsum, LLC, National Gypsum Services Company, Synthetic Materials, Knauf Gips KG, and American Gypsum Company, LLC.
North America tops the global synthetic gypsum market accounting for 32.4% market share in 2022.
FGD gypsum contributes 35.7% share to the global sales of synthetic gypsum.