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Lime And Gypsum Products Global Market Report 2024 Market Growth, Size, Trends,Share Analysis 2024-2033
Lime And Gypsum Products Global Market Report
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According to The Business Research Company's, The lime and gypsum products market size has grown strongly in recent years. It will grow from $55.95 billion in 2023 to $59.54 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to construction industry growth, urbanization, agriculture, environmental regulations.
The lime and gypsum products market size is expected to see strong growth in the next few years. It will grow to $74.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The growth in the forecast period can be attributed to infrastructure investments, sustainable building practices, renewable energy projects, raw material availability, technological advancements. Major trends in the forecast period include electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, collaboration and partnerships, .
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Market Drivers and Trends:
The growth of the construction sector is expected to propel the growth of the lime and gypsum products market. In the construction sector, lime is used for soil stabilization for roads, earthen dams, airfields, and building foundations. Gypsum is used in the manufacturing of wallboards that are used to cover walls and ceilings and to make plaster, which is used in the construction of residential properties. For instance, according to the report, Future of Construction 2030 report published by Oxford Economics a UK-based economic advisory firm, $135 trillion is expected to be spent on construction globally over the next decade until 2030. The increasing expenditure in the construction sector is expected to drive growth for the construction industry, thus generating demand for lime and gypsum products, driving the growth of the market going forward.
Global lime and gypsum product manufacturing companies are adopting and implementing IoT technology to improve their efficiencies and drive productivity. IoT connects people, machines, and services enabling the flow of information and real-time decisions. IoT technology offers benefits such as increased asset uptime, efficient predictive maintenance, and faster processing and delivery time. For instance, in November 2022, according to a report published by Ericsson, a Sweden-based telecommunication company, broadband IoT (4G/5G), which connects the majority of cellular IoT devices, reached 1.3 billion connections in 2022. Nearly 60% of cellular IoT connections are anticipated to be broadband IoT connections by the end of 2028, with 4G connecting the bulk. In terms of cellular IoT connections, North East Asia is currently in the lead; in 2023, it is predicted to surpass 2 billion connections.
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Major Key Players of the Market:
Compagnie de Saint-Gobain S.A, USG Corporation, China National Building Material Group Co. Ltd., Lhoist S.A., CRH plc, New Ngc Inc., Knauf Gips KG, CSR Limited, KCC Corporation, Ube Industries ltd, Eagle Materials Inc., LafargeHolcim Ltd., Boral Limited, National Gypsum Company, American Gypsum Company LLC, Georgia-Pacific LLC, CertainTeed Corporation, PABCO Building Products LLC, Yoshino Gypsum Co. Ltd., Continental Building Products Inc., Harrison Gypsum LLC, United States Gypsum Company, Gypsum Management and Supply Inc., GMS Inc., National Lime & Stone Company, Carmeuse Lime & Stone, Graymont Limited, Mississippi Lime Company, Cheney Lime & Cement Company, Chemical Lime Company, Martin Marietta Materials Inc., Vulcan Materials Company, CEMEX S.A.B. de C.V.
Lime And Gypsum Products Market 2024 Key Insights:
• The lime and gypsum products market size is expected to see strong growth in the next few years. It will grow to $74.43 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%.
• Construction Sector Boom Is Driving Growth In The Lime And Gypsum Products Market
• IOT Integration In Lime And Gypsum Product Market Is Enhancing Efficiency And Productivity
• Western Europe was the largest region in the lime and gypsum products market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
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Email: info@tbrc.info
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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