USD 2244 million
Report ID: SQMIG15F2059 | Region: Global | Published Date: July, 2023 | Pages: 157 | Tables: 63 | Figures: 75
Global Synthetic Gypsum Market size was valued at USD 2244 million in 2022 and is poised to grow from USD 2.36 billion in 2023 to USD 3.39 billion by 2030, at a CAGR of 5.3 % during the forecast period (2023-2030).
The global synthetic gypsum market has experienced significant growth and garnered substantial attention in recent years. Synthetic gypsum offers a viable alternative to natural gypsum for various applications.
The market's expansion is primarily driven by factors such as the increasing demand for sustainable construction materials, stringent environmental regulations promoting the use of synthetic gypsum, and the growing construction industry.
Additionally, the market is witnessing technological advancements in synthetic gypsum production, further fueling its adoption. Overall, the global synthetic gypsum market is poised for continued growth and holds immense potential for industry players.
Global Market Size
USD 2244 million
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The global synthetic gypsum market can be analyzed based on type, application, and region. By type, it can be categorized into FGD gypsum, phosphogypsum, and others. In terms of application, the market can be segmented into construction, agriculture, and others. Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Analysis By Type
One of the largest sectors within the synthetic gypsum market is likely to be the FGD gypsum segment. As environmental regulations become stricter, the demand for FGD gypsum as a sustainable alternative to natural gypsum for construction and manufacturing industries is expected to rise significantly.
Regarding the fastest-growing sector, it is likely to be the phosphogypsum segment. With the growing global population and increasing agricultural activities, the demand for phosphate fertilizers is expected to rise. Moreover, advancements in technology and innovative approaches for the safe and effective use of phosphogypsum are expected to drive its market growth in the coming years.
Analysis By Application
The construction sector stands out as the largest application segment for synthetic gypsum due to the robust demand for construction materials and the growing emphasis on sustainable and eco-friendly building practices. With the rising urbanization and infrastructure development activities across the globe, the construction industry continues to fuel the demand for synthetic gypsum. Additionally, stringent regulations and initiatives promoting the use of synthetic gypsum in construction contribute to its growth.
On the other hand, the fastest-growing sector for synthetic gypsum is the agriculture industry. As the agriculture sector faces challenges related to soil degradation and the need for sustainable farming practices, the adoption of synthetic gypsum as a soil conditioner is gaining momentum. The increasing awareness among farmers about the advantages of synthetic gypsum is driving its demand in this sector.
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The global synthetic gypsum market exhibits diverse regional dynamics. In North America, the market is primarily driven by the construction industry's demand for sustainable and cost-effective building materials.
Europe showcases significant growth potential due to strict regulations promoting the use of synthetic gypsum in construction projects. The
The Asia-Pacific region is experiencing a surge in demand fueled by rapid urbanization and infrastructure development in countries like China and India.
Latin America and the Middle East are witnessing steady growth, driven by increasing construction activities and rising awareness regarding environmental benefits of synthetic gypsum.
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Increasing Demand for Sustainable Construction Materials
Alternatives Available in the Market
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The global synthetic gypsum market exhibits a competitive landscape characterized by the presence of several key players striving to gain a significant market share. These players focus on strategies such as mergers and acquisitions, partnerships, and product innovations to strengthen their foothold in the market. These companies leverage their technological expertise, extensive distribution networks, and diverse product portfolios to cater to the growing demand for synthetic gypsum across various industries such as construction, agriculture, and cement manufacturing.
Top Player’s Company Profiles
There is a growing demand for synthetic gypsum due to its eco-friendly and sustainable nature as it is a byproduct of flue gas desulfurization in power plants and other industrial processes. Additionally, the construction industry is a major driver of the market, with synthetic gypsum being extensively used in the manufacturing of drywall, cement, and plaster products.
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our analysis, the global synthetic gypsum market is expected to witness promising growth prospects in the coming years. The increasing focus on reducing carbon emissions and promoting green building materials is further propelling the market growth. Furthermore, technological advancements and innovations in synthetic gypsum production processes are enhancing product quality and expanding its applications across various industries.The rising emphasis on sustainable and eco-friendly building practices is further propelling the adoption of synthetic gypsum, given its recycled nature.
|Market size value in 2022||USD 2244 million|
|Market size value in 2030||USD 2.36 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
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MARKET DYNAMICS & OUTLOOK
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For the Global Synthetic Gypsum Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Synthetic Gypsum Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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