Gypsum Market Scope, Share, Trends Analysis And Forecasts(2024 - 2033)

"The Business Research Company recently released a comprehensive report on the Global Gypsum Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The gypsum market size has grown rapidly in recent years. It will grow from $35.56 billion in 2023 to $39.8 billion in 2024 at a compound annual growth rate (CAGR) of 11.9%. The growth in the historic period can be attributed to increased mining production and government initiatives for gypsum mine expansion.

The gypsum market size is expected to see rapid growth in the next few years. It will grow to $59.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to increase in demand for plaster of paris and rise in cement production. Major trends in the forecast period include investing in lithium battery-powered gypsum haulers over conventional or diesel-powered mining machinery and equipment, increasing investment, using 3d mine visualizers to obtain a real-time digital model of a mine, focusing on technologies to prevent accidents and improve the safety of miners.

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Market Drivers and Trends:

A rise in cement production is expected to drive the growth of the gypsum mining market during the forecast period. Cement is one of the most important building materials that sets and hardens to adhere to building units. Gypsum is the main mineral that is added to the cement. It is called the retarding agent of cement as it is mainly used for regulating the setting time of the cement. Without gypsum, cement clinker can condense immediately by mixing with water and releasing heat. For instance, according to the India Brand Equity Foundation, an India-based trust established by the Department of Commerce, Ministry of Commerce and Industry, Government of India, cement production in India increased by 19.4% in June 2022 as compared to June 2021. Therefore, the rise in cement production would promote the growth of the gypsum market.

The gypsum mining companies are using 3D mine visualizers to obtain a real-time digital model of a mine. A 3D mine visualizer generates a three-dimensional model of the mine layout and transfers it directly to the operator. With a web-based interface, information about the model is available with any connected device. It offers full recording and playback capabilities in 3D, allowing operators to review and analyze historical data to improve productivity and identify best practices. 3D mine visualizers significantly enhance the productivity of large mining environments. It is a valuable tool in operations planning, analyzing problematic areas, and tracking mine development over time. For instance, companies such as Sandvik and Komatsu are offering 3D visualizer systems. In July 2021, Tech Soft 3D, a US-based software company introduced its HOOPS Visualize, a graphics engine for the MineRP Platform that delivers powerful 3D visualization capabilities to easily visualize very large and complex geological models, providing users with insights for better and profitable decisions in mine planning and execution.

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Major Key Players of the Market:

Myriad Genetics Inc, Illumina Inc, Abbott Laboratories, Eurofins Scientific, Danaher Corporation, F. Hoffmann-La Roche Ltd, Quest Diagnostics Incorporated, Qiagen NV, Thermo Fisher Scientific Inc., BioRad Laboratories Inc., BGI, Berry Genomics Co. ltd, Daan Gene Co. Ltd, Annoroad Gene Technology Co. Ltd, WuXi PharmaTech, Igenomix, Circle DNA, Centogene, Curetis, apceth Biopharma, Cytena, Probably Genetic, Genome Biologics, WuXi NextCODE, Genomtec, Testgene, Evogen Lab, Phosphorus, Helix, Sequencing, 10x Genomics, Quantgene, Virica Biotech, DNALabs, Deep Genomics, SGS Mexico, Hologic Inc, 23andMe Inc, Middle East Testing Services L.L.C, Molecular Biology & Genetics Laboratory, Freiburg Medical Laboratory Middle East, IVI MIDDLE EAST FERTILITY CLINIC, Bio Certica, Biovac, BixBio, Cape Bio Pharms, De Novo Dairy

Gypsum Market 2024 Key Insights:

• The gypsum market size is expected to see rapid growth in the next few years. It will grow to $59.38 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%.
• Gypsum Mining Market Driven By Surging Demand In Cement Production
• Gypsum Mining Companies Embrace 3D Mine Visualizers For Enhanced Productivity And Decision-Making
• South America was the largest region in the gypsum market in 2023

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