U.S. Synthetic Gypsum Market to Create an Absolute Opportunity of US$ 624.4 Mn by 2032
NEW YORK, May 11, 2022 /PRNewswire/ -- Fact.MR's new report on the synthetic gypsum market delivers a 10-year forecast through 2022 and beyond. The report further explicates significant dynamics, including emerging opportunities, challenges, and drivers shaping the market dynamics. Besides, it provides in-depth information about various segments, such as type, application, and regions.
Fact.MR - A Market Research and Competitive Intelligence Provider: Sales in the global synthetic gypsum market are estimated to be valued at around US$ 1.56 Bn in 2022. Exhibiting growth at a CAGR of 3.4%, the global demand for synthetic gypsums is poised to reach nearly US$ 2.17 Bn by 2032.
Synthetic gypsums include hydrated calcium sulfate and have properties similar to that of natural gypsum. Thus, companies are replacing natural gypsums for numerous applications, such as cement and glass manufacturing.
Their environmentally friendly nature makes synthetic gypsums ideal for usage in agriculture and construction industries. These are also considered to be cost-effective as they are produced from the waste generated in fossil-fueled power plants.
High demand for natural aerators in the agriculture sector is anticipated to boost the market. Synthetic gypsums also help in the agglomeration of soil particles and thus are gaining immense popularity in this sector.
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Besides, surging demand for synthetic gypsum in the construction sector to make lightweight plasters and concrete is likely to bode well for the market. Increasing awareness about this unique by-product owing to its safe and non-toxic mineral properties is expected to drive growth.
Implementation of stringent norms by governments to curb the harmful effects of sulfur oxide on public health and the environment is another crucial factor that would spur demand. Emergence of the Flue-Gas Desulfurization (FGD) technology to develop calcium sulfite for reducing emissions is also expected to accelerate growth.
Moreover, increasing expenditure on construction activities across India and China is anticipated to augur well for the market. Ongoing development of public infrastructure, such as railways, roadways, bridges, and dams is expected to propel the market by pushing sales of cement.
Report Attributes | Details |
Base Year Value (2021A) | US$ 1.52 Bn |
Estimated Year Value (2022E) | US$ 1.56 Bn |
Projected Year Value (2032F) | US$ 2.17 Bn |
Global Growth Rate (2022-2032) | CAGR 3.4% |
Key Takeaways:
- U.S. synthetic gypsum market is anticipated to reach US$ 624.4 Mn, accounting for 87.4% of the total market share by 2032.
- China is likely to dominate the Asia Pacific synthetic gypsum market, holding nearly 44.5% of the total market share in 2032.
- Based on type, sales in the FGD gypsum category are expected to grow at a CAGR of 3.8% in the forthcoming years.
- In terms of application, the drywall segment is estimated to lead by procuring a market share of 56.1% by the end of 2032.
- Cement application segment is likely to exhibit growth at a 2.8% CAGR and hold 23.6% of the total market share.
Growth Drivers:
- Rising demand for residential buildings and large-scale investments in the building and construction sector by private firms are expected to drive growth.
- Increasing government investments for the development of public infrastructures worldwide is set to augment growth.
Restraints:
- Synthetic gypsum has low durability when subjected to damage from abrasion or impact.
- As synthetic gypsums are difficult to use in curved-surface applications, sales may get hampered in the forthcoming years.
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Competitive Landscape:
The global synthetic gypsum market is highly competitive and fragmented in nature with the presence of several regional and domestic players. Majority of these players are aiming to strengthen their positions by engaging in partnerships, acquisitions, and capacity expansions.
Meanwhile, some of the other prominent companies are focusing on new product development to broaden their customer base and generate more sales. They are also engaging in joint ventures with local firms to co-develop novel products and gain a competitive edge in the market.
For instance,
- July 2021: An international consortium of research institutes discovered a new method to create synthetic gypsum. This method is more energy efficient as it involves the usage of existing waste products. They blended three ingredients, namely, water, limestone powder, and sulfuric acid.
- April 2019: Knauf, a multinational building material company based in Germany, acquired USG for US$ 7 Bn. This acquisition would help the former in strengthening its position in the building materials industry. It would also enable the company to meet the needs of customers by leveraging its global footprint and product portfolios.
Key Companies Profiled by Fact.MR
- USG Corporation
- Delta Gypsum, LLC
- National Gypsum Services Company
- Synthetic Materials
- Knauf Gips KG
- American Gypsum Company, LLC
- PABCO Building Products LLC
- Saint-Gobain Gyproc
- Boral Limited
- FEECO International, Inc.
- Georgia-Pacific Gypsum LLC
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More Valuable Insights on Synthetic Gypsum Market
In the latest study, Fact.MR offers a detailed study on global synthetic gypsum market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of synthetic gypsum through detailed segmentation as follows:
By Type:
- FGD Gypsum
- Flurogypsum
- Phosphosypsum
- Citrogypsum
- Other Types
By Application:
- Drywall
- Cement
- Soil Amendment
- Other Applications
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- MEA
Key Questions Covered in the Synthetic Gypsum Market Report
- What is the projected value of the synthetic gypsum market in 2022?
- At what rate will the global synthetic gypsum market grow until 2032?
- Which are the factors hampering the growth in the synthetic gypsum market?
- Which region is expected to lead in the global synthetic gypsum market during 2022-2032?
- Which are the factors driving the synthetic gypsum market during the forecast period?
- What is the expected market value of the synthetic gypsum market during the forecast period?
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