NEW YORK, Jan. 20, 2021 /PRNewswire/ -- Synthetic gypsum is a by-product in industrial processing, is composed of calcium sulfate dihydrate, and has the same characteristics as natural gypsum. Synthetic gypsum has numerous applications such as in drywall, cement, plaster, Soil amendments, and others. Manufacturing of synthetic gypsum facilitates some optimistic environmental and economic aids. The global synthetic gypsum market is expected to witness sustainable development during the forecast period, owed to increased demand from the construction industry. Suburbanization and growth in the agriculture sector is aiding market growth.
As per Persistence Market Research analysis, the global synthetic gypsum market is projected to reach a market value of US$ 3.3 Bn by 2030, expanding at a CAGR of over 5% during the forecast period of 2020-2030.
Key Takeaways from Synthetic Gypsum Market Study
- In terms of regional growth, Asia Pacific is the manufacturing hub for cement, and is anticipated to witness rapid growth in the global synthetic gypsum market.
- Drywall manufacturing is the most significantly growing application segment in this market in terms of synthetic gypsum consumption.
- Urbanization and growth in the agriculture sector for FGD gypsum, which is used as a fertilizer for improving soil amendment and crop productivity, are expected to push the growth of the synthetic gypsum market over the coming years.
- Rapidly growing demand for drywall and cement in the construction industry is expected to generate increased demand for synthetic gypsum.
- While the synthetic gypsum market is projected to grow at a healthy pace, the ongoing COVID-19 pandemic is anticipated to have a significant negative impact on demand. This is expected to continue during 2020-21.
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"Owing to the COVID-19 pandemic impact across the globe, the market in North America and Europe is expected to be impacted moderately, owing to less demand from end users. However, governments are likely to play a strong role over the coming months, as they are looking to create jobs and fuel the growth of the manufacturing sector in a strategic manner to avoid getting burdened with debt," says a Persistence Market Research analyst.
Market Landscape Continues to Remain Moderately Fragmented
Key manufacturers in the synthetic gypsum market, such as 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, are focused on strengthening their product portfolios and expanding their market footprints through the acquisition of smaller companies in the market.
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Want to Know More?
Persistence Market Research has published a market research report on the synthetic gypsum market that contains global industry analysis of 2015–2019 and opportunity assessment for 2020–2030. The report provides insightful analysis of the synthetic gypsum market through different segments, namely product type, end use, and region. The synthetic gypsum market report also provides supply and demand trends, supply-demand scenario, and a comprehensive list of suppliers and distributors in the market, along with a detailed overview of the parent market.
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