DUBAI, UAE, Sept. 15, 2020 /PRNewswire/ -- Future Market Insights (FMI) in its latest market study states that the global gypsum market is projected to record a CAGR of 5% over the anticipated period, 2020-2030.
The gypsum demand is projected to rise in response to the development of the construction sector. Higher potential markets in particular will reflect increasing spending for infrastructural growth. This would generate lucrative growth prospects for the market. The market will gain, mainly, from the high willingness amid consumers to expend on interior décor. Their interest to renovate their interior décor as per ongoing trend or every season has been touted as one of the main market drivers.
The global gypsum market will be impacted by the COVID-19 pandemic due to disruptions in material supply and transport. Nonetheless, the market will steadily regain pace particularly as governments have been entering into their unlock stage.
"Majority of infrastructural investment occurring in high potential markets is anticipated generate lucrative opportunities for gypsum sales," states FMI analyst.
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Gypsum Market - Major Takeaways
- The global gypsum market is projected to touch US$ 3.6 Billion towards the end of 2020.
- In terms of product type, synthetic gypsum accounts for the major share in terms of value As a result of the rising application in drywall manufacturing.
- Moreover, natural gypsum is found majorly suitable in the manufacturing of various construction material due to low cost and ease of production.
- Based on the application, demand from drywall and cement segments is projected to stay significantly high due to the development of foreseen in the construction sector across geographies.
Gypsum Market - Key Drivers
- Rising trends for aesthetic advances in the building structures due to the product's ability to offer innovative textures and designs on its surface will boost its application in high-end construction.
- Major market players are focusing on capitalizing and leveraging their online presence to increase awareness. Several players are utilizing social media platforms to educate customers concerning gypsum benefits.
- Technological advancements and change in customer interest have compelled builders and interior designers to concentrate on the aesthetic appeal of their creation.
Gypsum Market - Regional Analysis
- North America remains dominant due to the early adoption of advanced technology as well as the presence of skilled labor that is generating a conducive setting for market growth.
- The Asia Pacific will keep on reflecting higher demand for gypsum due to the existence of thriving construction industry.
Gypsum Market - Competitive Landscape
Major market players operating in the global gypsum market include Saint Gobain, Knauf Gips KG, Boral Limited, Lafarge, National Gypsum Company (U.S.), YOSHINO GYPSUM CO., LTD, Mada Gypsum, Beijing New Building Materials PLC, National Gypsum (Saudi Arabia), and JONOUB GYPSUM. Players are focusing on research & development initiatives and building long-term supply contracts with major end-users. Moreover, mergers & acquisitions are amid the strategy implemented by the market players. For instance,
Saint-Gobain took over the US. Company Continental Building Products. The acquisition will help the latter boost its earnings and product portfolio in the U.S. market.
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Gypsum Market - Taxonomy
- Synthetic Gypsum
- Natural Gypsum
- Soil Amendment Products
- North America
- Latin America
- South Asia & Pacific
- East Asia
- Middle East & Africa (MEA)
Get Valuable Insights into the Gypsum Market
Future Market Insights, in its new offering, provides an unbiased analysis of the global gypsum market, presenting historical demand data and forecast statistics for the period from 2020-2030. The study divulges compelling insights on the gypsum market, allowing readers to glean qualitative and quantitative information which will enable them to make informed market decisions in the upcoming forecast period.
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SOURCE Future Market Insights