As per detailed industry analysis by Fact.MR, a competitive intelligence provider and market research firm, the global synthetic gypsum market is estimated to hold a valuation of US$ 1.56 Bn in 2022, and further expand at CAGR of 3.4% over the assessment period of 2022 to 2032. Market growth is mainly due to the sustainability of synthetic gypsum coupled with its numerous properties and benefits.
Synthetic gypsum consumes less water and energy, and is useful due to the limited resource of natural gypsum. Synthetic gypsum is sustainable and a green product that can be used to create a product repeatedly. It is inherently fire-resistant and offers a high qualitative solution to prevent the spread of fires in buildings.
Technologies have evolved over the years to include innovative properties, such as acoustic properties. Gypsum reduces unwanted noise from outside a building or from other internal spaces. It acts as a barrier and provides effective sound insulation. In addition to this, it also carries thermal properties to reduce heating costs.
The trend towards sustainable construction is on the rise in the market. High-quality, environmentally-sound, recyclable, energy-efficient, and safer-to-use products, coupled with no emissions, are gaining traction these days. This is likely to propel market demand for synthetic gypsum over the coming years.
The market is expected to gain traction and reach sales worth US$ 2.17 Bn by the end of 2032.
Key Takeaways from Market Study
- Under type, FGD gypsum is likely to hold a market share of 37.2% by the end of 2032.
- Based on application, drywall and cement are likely to enjoy market shares of around 58.9% and 22.4%, by 2032, respectively
- Flurogypsum type segment is likely to expand at a CAGR of 3.6% over the forecast period of 2022–2032.
- Based on region, demand for synthetic gypsum is expected to increase at CAGRs of 3.5% and 3.1% in North America and Europe, respectively, over the forecast period.
- Together, North America and Europe are likely to represent over 58% of the overall market share in 2022.
“Several economic and environmental benefits offered by synthetic gypsum is expected to increase its consumption over the coming years,” says a Fact.MR analyst.
Market Developments
Companies manufacturing synthetic gypsum are focusing on enhancing their market share and are also offering innovative, efficient, and sustainable gypsum-based solutions, which is thereby accelerating the growth of the market.
Market participants are improving their brand presence through aggressive promotional activities. Market frontrunners have captured significant market share through robust distribution networks and integrated sales channels, avoiding margin leakage. Long-term partnerships across sales channels have enabled market players to generate consistency in demand.
Prominent players in the market are focusing on product development, acquisitions, joint ventures, investments, and strategic alliances as key growth strategies to enhance their presence in the synthetic gypsum market.
More Valuable Insights Available
Fact.MR, presents an impartial analysis of the global synthetic gypsum market, in its new report, presenting historical market data for the years 2017-2021 and forecast statistics for the period of 2022-2032.
The study reveals essential insights by type (FGD gypsum, flurogypsum, phosphosypsum, citrogypsum, and other types) and application (drywall, cement, soil amendment, and other applications), across major regions of the world (North America, Latin America, Europe, APAC, and the Middle East & Africa).
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