Synthetic Gypsum Market Size, Share, Growth Analysis, Business Insights And Forecast To 2033

The synthetic gypsum market size has grown strongly in recent years. It will grow from $1.58 billion in 2023 to $1.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to environmental regulations, coal combustion byproducts,construction industry growth, waste reduction, cost efficiency.

The synthetic gypsum market size is expected to see strong growth in the next few years. It will grow to $2.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. The growth in the forecast period can be attributed to sustainability goals, infrastructure development, agricultural applications, recycling initiatives, rising energy production. Major trends in the forecast period include green building materials, agricultural soil amendment, advanced desulfurization technologies, coal combustion byproduct utilization, alternative cement binders.

Market Overview -
Synthetic gypsum is a byproduct of a variety of industrial processes.Synthetic gypsum is mainly composed of calcium sulphate dihydrate, which is mainly used in the construction and agricultural industries for cement production, soil conditioning, and others.

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Construction Industry Boom Fuels Growth Of The Synthetic Gypsum Market
The growth of the construction industry is significantly contributing to the growth of the synthetic gypsum market. Synthetic gypsum and many of its products are mainly used in the construction sector for finishing mortar, model making, wall surface putty, and others. There is rapid growth in the construction industry due to favourable macroeconomic conditions, rising disposable incomes, and low interest rates. For instance, according to the National Investment Promotion and Facilitation Agency, the construction industry in India is expected to reach $1.4 trillion by 2025. The real estate industry in India is expected to reach $1 trillion by 2030.

Competitive Landscape -
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., Steag GmbH, Transparent Technologies Limited, Travancore Titanium Products Limited, Synthetic Material LLC, Central Plains Cement Company, Eagle Materials Inc., Etex NV, Electric Power Research Institute Inc., Gypsum Management and Supply Inc., Yoshino Gypsum Co. Ltd.

Rising Fgd Technology Adoption Reshapes The Synthetic Gypsum Market
The increase in adoption of Flue-Gas Desulfurization (FGD) technology is a major trend in the synthetic gypsum market. FGD is a process for removing sulphur compounds from the emissions of fossil fuel power plants. This technology results in an increase in the production of synthetic gypsum. Mitsubishi Power, for example, supplies FGD plants worldwide that prevent air pollution through their wet limestone-gypsum FGD process and seawater FGD process. India is planning to install FGD systems in a large number of coal-based thermal power plants by 2022.

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Key Segments -
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

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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