The increase in development and growth of industries is driving the growth of the global synthetic gypsum market.
Covid-19 Impact & Market Status
COVID-19 has severely impacted all the construction sectors along with the agriculture department. The lockdown phase has stopped the manufacturing sectors to proceed further with their regular activities because of a shortage of laborers and resources. The construction and development departments had to pause their work due to lockdown and unavailability of required resources. This affected any potential companies as their ongoing projects had to be stopped causing them a big loss. Due to this, many companies faced a negative impact and faced a shortage of money and other resources.
After lockdown, many potential companies are trying to expand their business by undertaking more projects. Also, the manufacturing and production industries are producing high-quality synthetic gypsum to expand the global synthetic gypsum market.
The synthetic gypsum market is highly beneficial for the promotion of sustainable development and reusing waste industrial products.
The production of synthetic gypsum is cheap and requires less infrastructure. It is manufactured from the remains of the fossil-fuel industries. Hence, it helps in the waste management of fossil-fuel industries by consuming the calcium-rich leftover material. In this way, there is less resource usage for waste treatment and manufacturing of synthetic gypsum. This makes synthetic gypsum more preferable over natural gypsum and it is non-toxic, hence, it has wide applications in the construction and agriculture sectors. It is widely used for the growth and aeration of soil to improve its quality and help in providing high nutrition to crops and plants. This also helps in saving the farmers from using toxic fertilizers and pesticides. Also, it has high strength and endurance that make it a quality choice for the construction of buildings. Along with the construction of high apartments, it is also used for the construction of lightweight plasters. This widens the scope of the global synthetic gypsum market.
Among all the nations, trying to expand their synthetic gypsum market, Asia-pacific regions are the dominant ones.
The regions of Aisa-Pacific are trying to improve and expand their synthetic gypsum market by making a high investment in the respective manufacturing industries and by providing proper transportation support to the transportation sector. Among all the developing and developed nations, China is developing its synthetic gypsum market at a fast rate because of its increasing population. Due to an increase in the population, there is an increase in the demand for residential apartments and urbanization. This raises the requirement for the synthetic gypsum market.
The increasing demand for urbanization and construction of new buildings and apartments is providing new opportunities to the synthetic gypsum market.
Synthetic gypsum is widely used in place of another substituent because it is a promising product for sustainable development and waste management. The synthetic gypsum market is expanding exponentially because it is formed from the residual of fossil fuel-producing industries. Hence, the leftover material in those industries is used for the construction and development of buildings and other residential apartments. The synthetic gypsum is rich in calcium, hence, provides sufficient strength to the buildings. It is widely preferred due to its strength, endurance, and high quality.
The Compound Annual Growth Rate (CAGR) of the global synthetic gypsum market is expected to be 4.76% with increased market size of USD 1.79 Billion by 2028.
In the synthetic gypsum market, China has the leading place. The ruling parties of various developing and developed countries are trying to increase the manufacturing of synthetic gypsum as it promotes the usage of waste materials. In this way, the construction work is carried out more efficiently. The production of synthetic gypsum from the remains of fossil-fuel factories is easy and affordable. This procedure is eco-friendly and helps the manufacturing companies to save their cost and resources. In this way, it is better than the production of natural gypsum which is very costly and requires high machinery and other equipment. Overall, the production and quality of synthetic gypsum dominate that of natural gypsum and it is used for various purposes like cementing, drywall, glass, and others.
Along with construction and development companies, the synthetic gypsum market has its roots in the agriculture sector also. There it is highly used as an aerator for soil growth and development, and agglomeration. Hence, for the pepper nourishment and growth of the soil particles, synthetic gypsum plays an important role. With an increasing need for the development and improvement of the agriculture sector, there is a rise in demand for more products that can ease the development process of both industries. This comes with the increase in development and advancement of science and technology that drives the market and provides scope for new products that can help the growth and progress of other industries.
With an increase in the rate of urbanization, there is an increase in the demand for the construction of more buildings for office and residential apartments. This results in an increased need for cement, and other building materials that can provide strength and endurance to the buildings. Synthetic gypsum is the preferred choice for the same and can be applied to almost all parts of the building. It is cost-effective non-toxic and can also be used for the construction of lightweight plasters and other materials. This makes the synthetic gypsum market cover a wide range of construction and agriculture industries. This drives the synthetic gypsum manufacturing companies to produce more of the compound and meet the increasing requirements. This has also helped in upgrading eco-friendly resources and techniques to use available resources for better resource management.
The initial installment of the synthetic gypsum market can be costly because the production of synthetic gypsum requires input material from the fossil-fuel industries. Hence, it is dependent on the availability of the fossil-fuel industries. Apart from these industries, synthetic gypsum can be produced but for that, the input will be very costly and in that case, there won’t be any significant impact on promoting sustainable development. It will be costly to initiate that process, after that the cost will decrease gradually. It is expected that the synthetic gypsum market will increase the overall GDP of a nation by saving its expenditure and other input materials to treat industrial waste materials. In this way, it helps in saving various indirect costs and resources. This helps the companies to manage their resources and promote sustainable development.
The major players of the global synthetic gypsum market are Delta Gypsum, LafargeHolcim, Gyptec IBERICA, Compagnie de Saint-Gobain S.A., Georgia Pacific Gypsum LLC, National Gypsum Properties LLC, Synthetic Material LLC, Knauf Gips KG, FEECO International Inc., Boral Limited, American Gypsum, PABCO Building Products LLC, Constantia Building Products, British Gypsum, and USG Corporation.
Latest Innovations in the Global Synthetic Gypsum Market: a Snapshot
- To comply with environmental sustainability, a group of international researchers came up with a more sustainable choice for gypsum mainly derived from waste products comprising sulfuric acid remains which is produced during the manufacturing of health-absorbent fibers. The development is expected to offer a new set of opportunities in the global gypsum market.
Synthetic Gypsum Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2028||USD 1.79 Billion|
|Growth Rate||CAGR of 4.76% during 2021-2028|
|Segment Covered||Type, Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, The Middle East and South Africa|
|Key Players Profiled||Delta Gypsum, LafargeHolcim, Gyptec IBERICA, Compagnie de Saint-Gobain S.A., Georgia Pacific Gypsum LLC, National Gypsum Properties LLC, Synthetic Material LLC, Knauf Gips KG, FEECO International Inc., Boral Limited.|
Key Segments of the Global Synthetic Gypsum Market
Type Overview, 2018-2028 (USD Billion)
- FGD Gypsum
Application Overview, 2018-2028 (USD Billion)
- Soil Amendment
- Glass Manufacturing
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
The Middle East and South Africa