Gypsum Market – Analysis, Outlook, Growth, Trends, Forecasts
DUBAI, United Arab Emirates – Future Market Insights (FMI) has forecast the gypsum market value to surpass US$ 4 Bn in 2021. The gypsum industry is expected to be driven by growing construction of residential, commercial and institutional buildings across the globe. The market is likely to witness a growth at 6.2% CAGR during the assessment period between 2021 and 2031.
As per the study, production of calcium sulfate is gaining traction over the last few years and it is anticipated to contribute between 2% and 3% in overall minerals production across the globe.
FMI also forecasts that the global anhydrite gypsum market is expected to register year-on-year growth of 5.4% in 2021. Consistent rise in demand for construction products including drywall, plasterboard, cement and others is the key factor enabling growth in the gypsum market.
|Base Year Value (2020A)||US$ 3.86 Bn|
|Estimated Year Value (2021E)||US$ 4.07 Bn|
|Projected Year Value (2031F)||US$ 7.4 Bn|
|Value CAGR (2021-2031)||6.2%|
|Collective Value Share: Top 3 Countries (2020A)||39.7%|
2021-2031 Gypsum Market Outlook Compared to Growth Registered in 2016-2020
Demand for gypsum grew at 3.1% CAGR between 2016 and 2020. The outbreak of COVID-19 was unprecedented and it tightened its noose globally, faster than expected. Governments were therefore compelled to put COVID-19 response on war footing, which obstructed transport and human interaction.
Request for Report Sample – https://www.futuremarketinsights.com/reports/sample/rep-gb-12417
Operations across various industries came to a standstill, which also hampered sales within the global gypsum market to a substantial extent. This is due to limitations in the movement and nationwide lockdowns, which hindered operations in the construction sector across several regions. This has in turn caused the demand for gypsum to plummet in 2020.
In the current scenario, consumption of gypsum is anticipated to grow at a CAGR of 5.8%. Expansion of the construction sector as operations recover post withdrawal of pandemic-induced restrictions is boosting the demand of gypsum, especially in India, China and GCC countries.
Gypsum is a versatile mineral owing to its wide range of applications. Superior property of calcium sulfate di-hydrate makes it useful for many applications. This also creates demand for gypsum in various forms including food additive, which is in making bread and dough, fire retardant in plastic products, source of calcium and sulfate to promote plant growth, and manufacturing of cements, mold materials and others. Such a wide range of applications provide stability to the demand graph of gypsum.
Why is Demand for Gypsum Board/Drywall Is Increasing?
Drywall is also known as plasterboard, wallboard, sheet rock, and gypsum board. Gypsum is a key material used in the production of drywall. Use of drywall is currently growing in the construction industry, especially in developed countries such as the U.S., China, and Germany.
In the U.S., maximum percentage of gypsum sold is consumed for drywall manufacturing. According to the United States Geological Survey (USGS), a typical new American home contains more than 7 KT of gypsum alone.
The drywall market has been growing at a significant rate since the past few years, which has had a positive impact on the gypsum market.
Majorly of synthetic gypsum is used for drywall manufacturing, due to which production of synthetic gypsum is increasing significantly.
How is Gypsum useful in Agriculture Industry?
While farmers have used gypsum (calcium sulfate di-hydrate) for centuries, it has received renewed attention in the recent years, owing to several benefits associated with gypsum.
For instance, gypsum is considered a rich source of calcium and sulfur for plant nutrition. Plants are becoming more deficient in sulfur and soil is not supplying enough of the same. Gypsum is an excellent source of sulfur for plant nutrition and for improving crop yield.
It also improves acid soils and treats aluminum toxicity. One of gypsum’s main advantages is its ability to reduce aluminum toxicity, which often accompanies soil acidity, particularly in subsoil.
Besides this, gypsum is used to improve soil structure. Flocculation, or aggregation, is needed to give favorable soil structure for root growth and air and water movement. Gypsum has been used for many years to improve aggregation and inhibit or overcome dispersion in sodic soils.
Owing to the above mentioned advantages of gypsum, its adoption is increasing significantly in agriculture.
Why is Demand for Gypsum Rising in the U.S.?
In 2021, the U.S. gypsum market is expected to grow by 4.9% year-on-year, bucking initial skepticism about how the market would perform during a global pandemic. Across North America, the total demand for gypsum is expected to reach 48 Million Tons.
The U.S. is the second largest producer of gypsum following China. According to world mining data, total production of crude gypsum across the country was valued at 22 Mn Tons in 2020. The United States has robust demand for drywall and plasterboards which makes country as a key trader of gypsum and its bi-product.
High disposable income among the consumers based in country is expected to provide traction for Plaster of Paris in interior decoration industry over the upcoming assessment period of 2021-2031.
For information on the Research Approach used in the Report, Request Methodology@ https://www.futuremarketinsights.com/customization-available/rep-gb-12417
What is the Demand Outlook for India Gypsum Market?
India has huge growth potential considering the remarkably increasing demand for housing, and rise in total number of people investing in housing units. The gypsum industry in India is expected to exhibit a CAGR of 5.8% during the forecast period.
Noteworthy rise in the construction of high rise buildings in the urban cities coupled with urbanization is bolstering the gypsum sales in India. Moreover, consistent rise in cement production is also investing in growth of gypsum manufacturing across the country.
In addition, high demand for food and agriculture products owing to such a vast population in the country coupled with significant share of agriculture industry in country’s GDP is expected to elevate the demand for gypsum in soil amendment industry.
What Is the China Gypsum Market Outlook?
China is estimated to remain a key manufacturer and consumer of gypsum, accounting for about 78% of the overall gypsum consumption in East Asia in 2021. Extraordinary presence of end users in the country makes China a lucrative market for gypsum manufacturers.
According to world mining data, China is expected to be a dominant producer of CaSO4 followed by United States, Iran and Turkey. Total production of natural gypsum in China is expected to be pegged at 25 Mn tons in 2020.
onsistent growth in country’s construction industry is fueling the demand for construction materials. Gypsum being a key constituent in production of various vital construction materials like cement, gypsum board, plasterboard, gypsum plaster, Plaster Of Paris and various others is getting traction with this growth.
Which is the Top-selling Gypsum Type
In terms of product type, natural gypsum is expected to dominate the market of gypsum. As per FMI, the natural gypsum segment is projected to register year-on-year growth of 5.6% in 2021.
The natural segment is expected to gain more BPS points over the forecast period owing to increasing usage in various end-use industries. Whereas Synthetic segment has gained traction over historical assessment period of 2016 – 2020 owing to increasing demand for tailored gypsum products.
Why is Construction Industry Exhibiting High Gypsum Demand?
Cement production is the dominant application of gypsum across the globe. Consumption of gypsum for cement production is expected to grow at a CAGR of 6.1% over the forecast period. Based on market attractiveness analysis in latest market research by Future Market Insights, the cement segment is estimated to dominate the market in the near future owing to increasing demand for construction products.
Gypsum finds application in several industries, and the cement, plaster, and drywalls segments are expected to remain the most attractive among all. However, gypsum also finds applications in enhancing the soil quality and soil amendment activities. The segment accounts for approximately 5.0% market share across the globe
Speak to our Research Expert: https://www.futuremarketinsights.com/ask-question/rep-gb-12417
Prominent manufacturers involved in the production of gypsum are laying emphasis on expansion by establishing new plants that will help them to increase their production capacities and gain access to new distribution networks, which is expected to increase their customer base. Moreover, they are engaged in strengthening their product portfolio by strategic acquisition and mergers to attract maximum consumer base.
- In line with this, in March 2020, Knauf AG announced plans for a second gypsum wallboard production line in Bukhara, Bukhara region. The plans also include an investment of US$ 2.4 Mn in an additional gypsum mixture line at its Bukharagips plant.
In August 2021, the company announced acquisition of Southwest Rock Products. This acquisition helps company to develop its construction product portfolio
Scope of Report
|Historical Data Available for||2016-2020|
|Market Analysis||USD Million for Value and Kilo Tons for Volume|
|Key Regions Covered||North America, Latin America, Europe, East Asia, South Asia & Pacific and Middle East & Africa|
|Key Countries Covered||US, Canada, Germany, U.K., France, Italy, Spain, Russia, BENELUX, Poland, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa.|
|Key Segments Covered||Product Type, End Use and Region|
|Key Companies Profiled||
|Report Coverage||Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives|
Find the Previous Research Done on – Gypsum Market Trends – https://www.prnewswire.com/news-releases/gypsum-market-to-record-a-steady-cagr-of-5-during-the-forecast-period-2020-2030-covid-19-to-curtail-growth-due-to-transport-disruption-future-market-insights-301131341.html
Explore FMI’s Extensive ongoing Coverage on Chemicals & Materials Domain
Optically Clear Resin Market: According to the latest research, the demand for Optically Clear Resin (OCR) is anticipated to grow with a compelling growth rate of about 5.5% to 7.5% in between the coming assessment period of 2021-2031.
Refractory Cement Market: According to latest research conducted on refractory cement market, it is expected to register a CAGR of over 4-5% during the forecast period 2021 to 2031.
Optical Coating Market: According to a recent study, the worldwide optical coating market is anticipated to grow at a CAGR of 8% to 9% during the forecast period 2021-2031.
Green Solvents Market: As per the latest global industry analysis for historical period of 2016-2020 and upcoming assessment period of 2021-2031, the demand for green solvents is expected to grow remarkably with CAGR ranging around 6% to 8%.
Monomethyl Acetoacetamide Market: According to the latest research conducted on the Monomethyl Acetoacetamide market, the demand is estimated to exceed a 3-4% CAGR between 2021 and 2031.
Inorganic Flame Retardants Market: As per a latest research conducted, the worldwide inorganic flame retardant market is projected to expand at a CAGR of 3% to 4% during the forecast period 2021-2031.
Caustic Calcined Magnesite Market: According to the latest research, the demand for Caustic calcined magnesite (also known as caustic calcined magnesia) is anticipated to grow with a compelling growth rate of about 7.0% to 9.0% in between the coming assessment period of 2021-2031.
Cetyl Esters Market: According to latest research conducted on Cetyl Esters market, it is expected to register a CAGR of over 4-5% during the forecast period 2021-2031.
Coal Briquettes Market: According to latest research conducted on Coal briquettes market, it is expected to grow with a CAGR of around 5-6% during the forecast period 2021-2031.
Potassium Cryolite Market: Global potassium cryolite market is all set to witness significant rise with a CAGR ranging between 3% and 5% during the forecast period of 2021-2031.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports style=”font-weight: 400;”> deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Press Release Source: https://www.futuremarketinsights.com/press-release/gypsum-market
Why pay for news and opinions when you can get them for free?
Subscribe for free now!
By submitting this form, you are consenting to receive marketing emails from: . You can revoke your consent to receive emails at any time by using the SafeUnsubscribe® link, found at the bottom of every email. Emails are serviced by Constant Contact
BUSINESS19 hours ago
Lifetime relationships and employee loyalty: How the total experience approach is transforming insurance
BUSINESS20 hours ago
BNPL for Services: Unlocking business growth with tailored payment solutions for the service industry
FINANCE20 hours ago
Top financial advisor firms
BUSINESS19 hours ago
The future of B2B marketplace payments and B2B Buy Now, Pay Later