What are the Historical Developments and Current Growth Metrics of the Synthetic Gypsum Market?
The synthetic gypsum market has seen considerable growth due to a variety of factors.
• The market for synthetic gypsum has witnessed robust expansion in the past few years. From being valued at $1.68 billion in 2024, it is projected to enhance to $1.78 billion in 2025, growing at a compound annual growth rate (CAGR) of 6.3%.
Factors fueling the growth during this historic period include environmental norms, byproducts of coal combustion, the surge in construction industry, reduction in waste, and cost-effectiveness.
What Does Future Hold for The Synthetic Gypsum Market Size?
The synthetic gypsum market is expected to maintain its strong growth trajectory in upcoming years.
• Anticipated to experience robust expansion in the upcoming years, the synthetic gypsum market will escalate to a value of $2.39 billion by 2029, progressing at a compound annual growth rate (CAGR) of 7.6%.
Factors propelling growth during the projected period include sustainability targets, advancement in infrastructure, agricultural uses, recycling efforts, and increased energy production. Key trends surfacing in the forecast period encompass eco-friendly building materials, improvement of agricultural soil, cutting-edge desulfurization technologies, utilizing byproducts of coal combustion, and alternative cement binders.
What Key Factors and Trends are Driving the Growth of the Synthetic Gypsum Market?
The synthetic gypsum market is anticipated to expand due to the growing trend of home remodeling and renovation. Such projects, aimed at improving residential spaces' appearance, functionality, and value, are driven by homeowners' demand for personalized spaces and escalating real estate prices. As a result, renovation becomes a more economical solution compared to relocation. Synthetic gypsum plays a significant role in beautification efforts, offering craftsmanship in architectural moldings, ceiling designs, wall panels, and decorative features due to its versatility and fine finishing. The Joint Center for Housing Studies of Harvard University, a US research center and think tank, predicted in January 2023 that national expenditure on revamp and repair jobs for owner-occupied houses would hit $485 billion by 2023, up 2.6% from 2022. Hence, the growing fondness for home makeovers and renovations propels the synthetic gypsum market forward.
What are the Market Segments in the Synthetic Gypsum Market?
The synthetic gypsum market covered in this report is segmented –
1) By Type: Citrogypsum, Fluorogypsum, Phosphogypsum, Titanogypsum
2) By Application: Cement, Plaster, Drywall, Soil Amendments, Glass Manufacturing
3) By Industry: Construction Industry, Agriculture Industry
Subsegments:
1) By Citrogypsum: Food Industry Applications, Agricultural Applications, Construction Applications
2) By Fluorogypsum: Cement And Concrete Production, Soil Conditioning, Industrial Applications
3) By Phosphogypsum: Fertilizer Production, Construction Materials, Environmental Remediation
4) By Titanogypsum: Titanium Dioxide Production, Cement Additives, Environmental Applications
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What Trends are Shaping the Synthetic Gypsum Market?
The synthetic gypsum market is witnessing a significant trend of rising adoption of flue-gas desulfurization (FGD) technology. This technology is utilized to eliminate sulfur compounds from the emissions produced by fossil fuel power plants, thereby aiding the production of synthetic gypsum. Mitsubishi Power is a major player providing FGD plants globally which curb air pollution through their wet limestone-gypsum FGD process and seawater FGD process. By 2022, India plans to employ FGD systems extensively in its coal-based thermal power plants.
Who Are the Key Players in the Synthetic Gypsum Market?
Major companies operating in the synthetic gypsum market include:
• American Gypsum
• Boral Limited
• British Gypsum Limited
• Continental Building Products Inc.
• Delta Gypsum LLC
• Fertilizer Engineering & Equipment Company
• Georgia-Pacific Gypsum LLC
• Gessos Técnicos S.A.
• Knauf Gips KG
• Lafarge Holcim Ltd.
• National Gypsum Company
• PABCO Building Products LLC
• Synthetic Materials LLC
• USG Corporation
• Constantia Building Products AG
• BauMineral GmbH
• Compagnie de Saint-Gobain SA
• Drax Group plc
• Compagnie de Saint-Gobain S.A.
• Travancore Titanium Products Limited
• Synthetic Material LLC
• Eagle Materials Inc.
• Etex NV
• Electric Power Research Institute Inc.
• Gypsum Management and Supply Inc.
• Yoshino Gypsum Co. Ltd.
What are the Regional Insights into the Synthetic Gypsum Market?
North America was the largest region in the synthetic gypsum market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the synthetic gypsum market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
