What are the Historical Developments and Current Growth Metrics of the Gypsum Market?
The gypsum market has seen considerable growth due to a variety of factors.
• The size of the gypsum market has seen a rapid expansion in recent years. It's projected to escalate from $41.25 billion in 2024 to $47.57 billion in 2025, with a compound annual growth rate (CAGR) of 15.3%.
The surge during the historical period can be traced back to increased mining production, coupled with governmental initiatives to expand gypsum mines.
What is the Forecasted Market Size and CAGR for the Gypsum Market?
The gypsum market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, rapid expansion is anticipated in the gypsum market size, with a forecasted growth to $77.44 billion in 2029, bolstered by a compound annual growth rate (CAGR) of 13.0%.
This expected growth can be associated with the escalating demand for Plaster of Paris coupled with a surge in cement production. Prevailing trends in the forecast window encompass the shift towards lithium battery-powered gypsum haulers instead of traditional or diesel-powered mining machinery, along with a surge in investments. Additionally, the utilization of 3D mine visualizers to derive a live digital representation of a mine and emphasis on technologies to avert accidents and bolster miner safety are also predicted trends.
What Are The Primary Growth Drivers In The Gypsum Market?
The gypsum mining market is projected to expand with the increase in cement production during the forecasted timeframe. Cement, a pivotal construction material, solidifies and attaches to construction components, with gypsum being its primary mineral component. Gypsum, often referred to as the cement retarding agent, primarily functions to control the cement setting duration. In the absence of gypsum, the cement clinker could solidify instantaneously once mixed with water, generating heat in the process. For example, the India Brand Equity Foundation reported in September 2024 that an Indian company witnessed a 12.1% surge in cement production in September 2022 compared to the same month of the previous year. Consequently, this growth in cement production is predicted to stimulate the expansion of the gypsum market.
What are the Market Segments in the Gypsum Market?
The gypsum market covered in this report is segmented –
1) By Application: Gypsum For Construction, Agricultural Gypsum, Other Gypsum
2) By Mining Type: Underground Mining, Surface Mining
Subsegments:
1) By Gypsum For Construction: Gypsum Board (Drywall), Gypsum Plaster, Gypsum Blocks
2) By Agricultural Gypsum: Soil Amendment Gypsum, Fertilizer Gypsum
3) By Other Gypsum: Industrial Gypsum, Dental Gypsum, Art and Craft Gypsum Products
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What Trends are Shaping the Gypsum Market Size?
Leading corporations in the gypsum market are concentrating on creating novel products, such as superior quality gypsum boards, to fulfill the growing need for inexpensive and effective construction materials. Superior quality gypsum boards are gypsum panels that meet rigorous criteria for strength, longevity, and fire safety, and are typically used for interior constructions and ceilings. For example, in December 2023, Saint-Gobain India Pvt Ltd, a company based in India, unveiled an innovative assortment of construction products including Habito Standard, Rigiroc, Glasroc X, and Metlance. Habito Standard is 13mm superior quality gypsum board featuring increased load-bearing capacity of up to 15kg per point with standard woodscrews, thus providing high resistance to impact. This particular design suits heavy-duty requirements in both commercial and home environments.
Who Are the Key Players in the Gypsum Market?
Major companies operating in the gypsum market include:
• Rio Tinto Group
• Iluka Resources Limited
• FCI Aravali Gypsum and Minerals
• zawawi minerals
• kunooz oman holding
• Rajasthan State Mines and Minerals limited
• CHEM-CARB
• NMDC Ltd
• Henan Yukuang International Mining Investment Co Ltd
• Baumineral GmbH
• Steag GmbH
• Knauf Gips KG
• Torralba Group
• British Gypsum (St Gobain)
• ETEX Group
• Polska sp. z o.o
• Harrison Gypsum
• The H Lima Company Inc
• Little Salt Creek Gyp Mine
• Twisselman Gypsum
• Allied Custom Gypsum
• National Gypsum
• Diamond Gypsum LLC
• Pioneer Gypsum Mining Inc
• Sumitomo Metal Mining Chile Ltda
• Cerro Cazador SA
• COMSA
• Wasit General Trading LLC
• Emirates House General Trading LLC
• Awam Group LLC
• United Mining Industries Company Limited (UMI)
• African Queen Mines Ltd
• Anglo African Gypsum
What are the Regional Insights into the Gypsum Market?
South America was the largest region in the gypsum market in 2024. The regions covered in the gypsum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
