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 PMR 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.
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The chemicals and materials vertical would be witnessing an eco-friendly transformation in the upcoming period. Plastic waste recycling would be one amongst these green initiatives. This would also be an era of materials informatics, i.e. machine learning would be employed to the materials’ development, which would, apart from improving on the cost of R&D, also provide better agility.
Synthetic biology would be another trend ruling the roost, as it would facilitate more flexible distribution of the chemicals and also help in exploration of novel markets, that too, at lower costs. Persistence Market Research is into tabling of these details of the chemicals and materials vertical through its team of riveting analysts and consultants.
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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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
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