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Top Market Shifts Transforming the Gypsum Market Landscape: Key Insights
Gypsum
What Is the Expected CAGR for the Gypsum Market Through 2025?
In recent times, there has been substantial growth in the gypsum market size. It is projected to escalate from $31.81 billion in 2024 to $36.36 billion in 2025, representing a compound annual growth rate (CAGR) of 14.3%. The previous expansion can be credited to a boost in mining production and government-driven initiatives aimed at expanding gypsum mine.
What's the Projected Size of the Global Gypsum Market by 2029?
In the ensuing years, the gypsum market size is anticipated to experience substantial growth, reaching $62.41 billion in 2029 with a compound annual growth rate (CAGR) of 14.5%. Factors contributing to the projected growth over the forecast period include heightened demand for Plaster of Paris and an upswing in cement production. Key trends to note during this period comprise of shifting investments towards lithium battery-powered gypsum haulers in place of conventional or diesel-operated mining machinery and equipment, increasing capital investments, employing 3D mine visualizers for real-time digital mine modeling, and emphasizing on technologies poised to prevent accidents and enhance miner safety.
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Top Growth Drivers in the Gypsum Industry: What's Accelerating the Market?
The predicted increase in cement production is anticipated to fuel the expansion of the gypsum mining market in the upcoming years. Cement, a critical construction material, solidifies and sticks to construction units and gypsum is a principal mineral incorporated in it. Gypsum is often referred to as the 'retarding agent' of cement due to its role in controlling cement's setting time. Without gypsum's presence, cement clinker upon contact with water can solidify rapidly and generate heat. In September 2024, it was reported by the India Brand Equity Foundation that there was a 12.1% surge in India's cement production in September 2022 in comparison to the same month the previous year. Consequently, this boost in cement production could enhance the growth of the gypsum market.
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What Are the Key Trends Driving Gypsum Market Growth?
Leading organizations in the gypsum market are concentrating on launching inventive products, such as high-quality gypsum boards, to cater to the growing need for affordable and effective construction materials. These high-quality gypsum boards are gypsum panels that adhere to rigorous criteria for durability, strength, and fire resistance, and are frequently employed in the construction of interior ceilings and walls. For illustration, in December 2023, Saint-Gobain India Pvt Ltd, a company based in India, rolled out an innovative series of construction goods, including Habito Standard, Rigiroc, Glasroc X, and Metlance. Habito Standard is a 13mm superior-quality gypsum board that can endure up to 15kg per point when using a standard woodscrew, providing high impact resistance. This product is suitable for heavy-duty use in both commercial and residential environments.
What Are the Main Segments in the Gypsum Market?
The gypsum market covered in this report is segmented -
1) By Application: Gypsum For Construction, Agricultural Gypsum, Other Gypsum
2) By Mining Type: Underground Mining, Surface Mining
Subsegments:
1) By Gypsum For Construction: Gypsum Board (Drywall); Gypsum Plaster; Gypsum Blocks
2) By Agricultural Gypsum: Soil Amendment Gypsum; Fertilizer Gypsum
3) By Other Gypsum: Industrial Gypsum; Dental Gypsum; Art and Craft Gypsum Products
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Which Top Companies are Driving Growth in the Gypsum Market?
Major companies operating in the gypsum market include Rio Tinto Group, Iluka Resources Limited, FCI Aravali Gypsum and Minerals, zawawi minerals, kunooz oman holding, Rajasthan State Mines and Minerals limited, CHEM-CARB, NMDC Ltd, Henan Yukuang International Mining Investment Co Ltd, Baumineral GmbH, Steag GmbH, Knauf Gips KG, Torralba Group, British Gypsum (St Gobain), ETEX Group, Polska sp. z o.o, Harrison Gypsum, The H Lima Company Inc, Little Salt Creek Gyp Mine, Twisselman Gypsum, Allied Custom Gypsum, National Gypsum, Diamond Gypsum LLC, Pioneer Gypsum Mining Inc, Sumitomo Metal Mining Chile Ltda, Cerro Cazador SA, COMSA, Wasit General Trading LLC, Emirates House General Trading LLC, Awam Group LLC, United Mining Industries Company Limited (UMI), African Queen Mines Ltd, Anglo African Gypsum
Which Regions Will Dominate the Gypsum Market Through 2029?
South America was the largest region in the gypsum market in 2024. The regions covered in the gypsum market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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