DELRAY BEACH, Fla.,
Sept. 2, 2024 /PRNewswire/ -- The
report "Synthetic Gypsum Market by Type (FGD Gypsum,
Phosphogypsum, Citrogypsum, Fluorogypsum), Application (Cement,
Building Materials, Gypsum Board, Soil Amendments, Dental), &
Region - Global Forecast to 2030", size is projected to grow
from USD 1.4 billion in 2024 and is
projected to reach USD 1.8 billion by
2030, at a CAGR of 4.3%. Synthetic gypsum is a by-product produced
during the flue gas desulfurization process of a power plant, where
the sulfur dioxide emissions can be reduced. Regarding the chemical
composition, it is like natural gypsum and used to produce cement,
gypsum board, and several building materials in the construction
industry. Since the environmental regulations tend to get tougher
and the construction market maintains to grow, especially in APAC,
the Middle East, and South America, the demand for synthetic gypsum
should increase. Moreover, it should be noted that the trend of wet
FGD use in power plants fosters the synthetic gypsum application.
The building industry becomes increasingly oriented towards green
and cost-effective materials and, as a result, synthetic gypsum is
likely to play a significant role in the future world of green
construction.
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Phosphogypsum segment is estimated to be the 2nd largest type
segment of synthetic gypsum.
Synthetic gypsum market is projected to have phosphogypsum as
the second-largest segment, which is a by-product of the phosphate
fertilizer industry. This is due to its increasing usage in
agriculture, construction and road building among other
applications. Its richness in calcium sulphate makes it valuable as
a soil conditioner that improves soil structure and fertility.
Furthermore, this material is used for making cement, plaster and
wallboard hence causing its demand to rise. Besides, phosphogypsum
market has been expanding following the environmental regulations
that promote recycling of industrial by-products. Therefore, with
the need for sustainable and economical materials in industries,
there will be a tremendous growth of phosphogypsum's role in
synthetic gypsum market.
By Application, Gypsum Board segment of the synthetic gypsum
market is expected to account for the 2nd largest share during the
forecast period.
In the synthetic gypsum market, gypsum board application holds
the second largest share. Gypsum board is also known as drywall or
plasterboard, and it is widely used in construction industry due to
its ease of installation, fire resistance, and sound insulation.
The demand for synthetic gypsum in this segment is driven by its
environmental benefits, consistent quality, and cost-effectiveness
compared to mineral gypsum. This application benefits from the
increasing construction activities globally, particularly in
residential and commercial buildings, which require large
quantities of gypsum board for ceilings, walls, and partitions.
Consequently, the synthetic gypsum market continues to expand, with
gypsum board playing a pivotal role in its growth.
The synthetic gypsum market is expected to be dominated by the
Asia-Pacific region owe to the
increasing rate of industrialization and urbanization especially in
the developing countries such as China and India. The demand for construction materials
has increased greatly due to massive investment in construction of
infrastructure and housing. Also, cement and gypsum board
industries in the region remain some of the largest consumers of
synthetic gypsum. Policies that encourage environmentally friendly
practices and the accessibility of raw materials also enhance the
market's expansion. In conclusion, Asia-Pacific's synthetic gypsum market holds
great potential due to the region's constantly developing economy
and a steadily growing construction industry.
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Key players
The Synthetic gypsum market comprises key manufacturers such as
are Knauf Group (Germany), Holcim
Group (Switzerland), Saint-Gobain
SA (France), Georgia-Pacific
Gypsum LLC (US), Etex Group (Belgium), National Company Gypsum Services
(US), James Hardie Industries Plc. (Ireland), Synthetic Materials (US), Yoshino
Gypsum Co., Ltd. (Japan), and
American Gypsum Company, LLC (US) among others are the major
players in the synthetic gypsum market.
Browse Adjacent Market: Building and Construction
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