Synthetic Gypsum Market Is Set To Witness Growth At 4% CAGR By 2027

The synthetic gypsum market was valued at US$ 1,244.02 million in 2019 and is projected to reach US$ 1,693.72 million by 2027; it is expected to grow at a CAGR of 4.0% from 2020 to 2027. Synthetic gypsum is mostly created as by-product of industrial processing. The gypsum is composed of calcium sulfate dihydrate, and mostly possesses the same features and characteristics of natural gypsum, as well as it is a high quality and environment friendly product. The synthetic gypsum is mostly used in the construction and agricultural industries.

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Players Mentioned are -

Drax Group PLC
American Gypsum
USG Corporation
Larargeholcim
Travancore Titanium Products Limited
Knauf Gips KG
Transparent Tehcnologies Limited
BauMineral GMBH
Steag GMBH
Boral

Based on type, the synthetic gypsum market is segmented into FGD Gypsum, Fluorogypsum, Phosphogypsum, Citrogypusm, and Others. In 2019, the FGD Gypsum segment held the largest share of the market. Carbon synthetic gypsum is one of the most extensively used construction and flooring materials in industries. Light duty carbon synthetic gypsums are used in applications such as pedestrian traffic and light, and rolling traffic such as carts, dollies, and hand trucks. The expanding range of applications of carbon Synthetic Gypsum mainly due to its high wear resistance and strength is anticipated to promote the market growth for FGD Synthetic Gypsum segment during the forecast period.

The global Synthetic Gypsum market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. APAC held the largest share of the market. India, China, Indonesia, Thailand, Vietnam, and Rest of APAC are among the major countries in APAC. Further, these emerging countries are witnessing an upsurge in the middle-class population along with an increase in urbanization, which further offers lucrative opportunities for key market players in the synthetic gypsum market.

Countries such as Indonesia, Thailand, India, China, Vietnam, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector in which chemical, construction, and electronics, and other industries. The manufacturing sector in these countries has experienced a huge shift over the years. The manufacturing sector in Asia-Pacific is rapidly adopting innovative accelerators that include advanced technologies and processes. Over the last a few years, application ion expenditure in the region has increased significantly and is expected to increase at the highest estimated growth rate during the forecast period.

 Synthetic Gypsum Market, by Type

• FGD Gypsum
• Flurogypsum
• Phosphogypsum
• Citrogypsum

 Synthetic Gypsum Market, by Application

• Drywall
• Cement
• Soil amendment
• Dental
• Water Treatment

Impact of COVID-19 Pandemic on Synthetic Gypsum Market

The COVID-19 pandemic has adversely affected economies and industries in various countries across the world due to lockdowns, travel bans, and business shutdowns. The chemical & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and disrupted the manufacturing activities, delivery schedules, and various goods sales.

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This release was published on openPR.