Report : Synthetic Gypsum Market Forecast to 2027 - COVID-19 Impact and Global Analysis By Type (FGD Gypsum, Flurogypsum, Phosphogypsum, Citrogypsum, and Others) and Application (Drywall, Cement, Soil Amendment, Dental, Water Treatment, and Others)
Increasing Demand from the Construction Industry Boosts Synthetic Gypsum Market Growth
According to our latest market study on “Synthetic Gypsum Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Type (FGD Gypsum, Flurogypsum, Phosphogypsum, Citrogypsum, and Others) and Application (Drywall, Cement, Soil Amendment, Dental, Water Treatment, and Others),” the market was valued at US$ 1,244.02 million in 2019 and is projected to reach US$ 1,693.72 million by 2027; it is expected to grow at a CAGR of 4.0% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Synthetic gypsum is mostly used in the construction and the agricultural industries. The growth of the construction industry across the world has increased the demand for decorative structures and drywall which has propelled the demand for synthetic gypsum. Furthermore, the use of synthetic gypsum as a filler in the cement production process bolsters the growth of synthetic gypsum market.
In the construction industry, synthetic gypsum is mostly used as a filler material for the cement and the plasters to enhance their strength and also to reduce the setting time of the concrete. It is also used to make decorative panels and plaster of paris. FGD gypsum, which is one of the types of synthetic gypsum, is mainly used in the construction industry to manufacture cement, drywall, and plaster of paris. FGD gypsum is basically recyclable in nature and thus, is mostly used by the manufacturers. Plaster of Paris is basically used for making decorative panels, structures, and sculptures. The demand for these structures and sculptures are increasing in the construction industry, which is leading to an increase in the demand of synthetic gypsum. The governments of many developing countries are focusing on developing and improving their infrastructure and are introducing many reforms and regulations that will help in boosting the real-estate and infrastructure industries. All these regulations and reforms are expected to have a positive impact on the construction industry, which would boost the demand for synthetic gypsum in the forecast period.
Drax Group PLC, American Gypsum, USG Corporation, Larargeholcim, Travancore Titanium Products Limited, Knauf Gips KG, Transparent Tehcnologies Limited, BauMineral GMBH, Steag GMBH, and Boral are among the well-established players in the global synthetic gypsum market.
Impact of COVID-19 Pandemic on Synthetic Gypsum Market
The COVID-19 pandemic has adversely affected economies and industries in various countries across the world due to lockdowns, travel bans, and business shutdowns. The chemical & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. The shutdown of various plants and factories in leading regions such as North America, Europe, Asia Pacific, South America, and the Middle East and Africa has restricted the global supply chain and disrupted the manufacturing activities, delivery schedules, and various goods sales. Furthermore, various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the chemical & materials industry, and thus restraining the growth of various markets related to this industry. The market for synthetic gypsum is impacted by the pandemic due to shortfall in production along with limited transportation facilities.
The report includes the segmentation of the Synthetic Gypsum market as follows: