The synthetic gypsum market size is estimated at USD 1.42 billion in 2018 and is projected to grow at a CAGR of 4.82% to reach USD 1.80 billion by 2023.
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The market is driven by factors such as the increasing urban population, increasing applications in the agriculture industry, increasing demand from the construction sector, and the economic benefits of synthetic gypsum.
Synthetic gypsum is widely used in construction applications, including drywall, cement, and plaster, thereby reducing the need for mining natural deposits.
Key Target audience
- Raw material producers
- Synthetic gypsum traders/distributers/suppliers
- Local governments
- Environmental protection bodies
- Market research and consulting firms
- Regulatory bodies
- Research organizations
- Association and industry bodies
The synthetic gypsum market is expected to witness high growth as a result of the rapid urbanization, large-scale investments in the building & construction sector, the rising number of construction activities in emerging economies, and increasing demand from the construction sector. This report has been segmented on the basis of type, application, and region.
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Drywall application projected to be fastest-growing segment in synthetic gypsum market during forecast period. FGD gypsum is used in the agriculture sector as a fertilizer to improve crop yield; it is mainly added as sulfur or calcium fertilizer in soil.
In construction sector, it is used as a filler material in cement and plasters to enhance strengthening and reduce the setting time of the concrete. It also finds application in the building & construction industry to make decorative panels and PoP structures.
1 Attractive Opportunities in the Synthetic Gypsum Market
2 Synthetic Gypsum Market, By Type
3 Synthetic Gypsum Market, By Application
4 Synthetic Gypsum Market: Regional Snapshot
Major factor driving growth of synthetic gypsum market is the large-scale government investments in the building & construction sector in the region. Additionally, the increasing population and rising income accelerate the per capita spending on construction.
The markets of China and India are projected to be lucrative due to their ongoing and upcoming infrastructural construction projects as well as the increase in consumer spending on construction activities.
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Segmentation considered for this report is based on types, applications, and regions that constitute key markets. On basis of type, FGD gypsum held a larger share.
Factors such as increasing demand from construction applications and ongoing infrastructural construction activities in emerging economies, coupled with a rise in number of new building constructions, globally, are expected to drive the demand for synthetic gypsum during the forecast period.
The report will help the leaders/new entrants in this market in the following ways:
- This report segments the synthetic gypsum market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the sub segments across the different verticals and regions.
- The report will help stakeholders to understand the market and will provide them information on the key market drivers, opportunities, and challenges.
- This report will help stakeholders to understand their competitors better and gain more insights into their position in the business. The competitive landscape section includes various strategies such as acquisitions, investments, joint venture, and strategic alliances adopted by various players to sustain in the market.
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