Increasing demand for synthetic gypsum from the building construction industry is the major factor influencing market growth.
Market Size USD 1.35 billion in 2018, Market Growth - CAGR of 4.2%, Market Trends Regulations in coal-fired power plants
The globalsynthetic gypsum marketis expected to reach USD 1.89 Billion by 2026, according to a new report by Reports and Data. The increasing demand for end-user applications of synthetic gypsums, such as Plaster of Paris, which used for creating structures, sculptures, and decorative panels, is estimated to stimulate market demand in the forecast period. In addition, the recyclable nature of the product is expected to drive the market in the upcoming years.
The use of the product in the mining industry for applications including subsidence control in underground mines, as a barrier to acid mine drainage formation, alkaline amendment to neutralize acid-producing rock, and as encapsulation or neutralization of acid-producing materials is forecasted to boost the market demand in the forecast period.
The growing investments in RD activities by the manufacturers are one of the significant drivers expected to propel the growth of the market in the period 2019-2026. Leading companies in the market are emphasizing on RD activities to produce new applications of synthetic gypsum. The spiraling demand for sustainable buildings and construction activities is having a positive impact on the use of the product in the construction sector.
Additionally, the imposition of many strict government norms and regulations to curb the environmental impact caused by coal plants are causative of the acceptance of the Flue Gas Desulfurization (FGD) technology by the current as well as new coal power plants to increase the production of the product, thereby propelling the growth of the market.
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Further key findings from the report suggest
- By product type, flue gas desulfurization gypsum held the largest market share in 2018 and is expected to grow at a rate of 4.0% in the forecast period. The high demand for FGD gypsum is owing to a number of prospective benefits of applying the product to agricultural soils. These benefits may be either chemical or physical. Chemical benefits result from providing essential plant nutrients calcium and sulfur for crop production or by modifying the subsoil to produce a more favorable medium for plant root development.
- By application, drywall sub-segment is forecasted to grow at the fastest rate of 4.4% in the forecast period. A drywall is a high-performance, lightweight interior wall system comprising of a GI steel frame, encased in gypsum plasterboards on either side attached with self-drilling drywall screws.
- The Asia Pacific market contributed to the largest market share in 2018 and is projected to grow at the fastest rate of 4.5% in the forecast period. The market dominance of the Asia Pacific region may be attributed to the growth of the building construction and agriculture industry.
- Key participants include Knauf Gips, LafargeHolcim, National Gypsum, PABCO Gypsum, FEECO International, Delta Gypsum, Synthetic Materials LLC, Continental Building Products, British Gypsum, and American Gypsum, among others.
To identify the key trends in the industry, click on the link below:https://www.reportsanddata.com/report-detail/synthetic-gypsum-market
For the purpose of this report, Reports and Data have segmented the global synthetic gypsum market on the basis of product type, application, industry vertical, and region:
Product Type Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Flue Gas Desulfurization (FGD) Gypsum
ApplicationOutlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Soil Amendments
- Glass Manufacturing
- Water Treatment
Industry VerticalOutlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- Building Construction
- Glass Ceramic
Regional Outlook (Volume, Kilo Tons; 2016-2026 and Revenue, USD Million; 2016-2026)
- North America
- Asia Pacific
- Latin America
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