Syn­thetic gyp­sum mar­ket worth 1.80 Bil­lion USD by 2023

Chemical Industry Digest - - News & Views -

The re­port “Syn­thetic Gyp­sum Mar­ket by Type (FGD gyp­sum, Citr­o­gyp­sum, Flu­o­r­o­gyp­sum, Phosh­ogyp­sum), Ap­pli­ca­tion (Ce­ment, Dry­wall, Soil amend­ment, Den­tal), and Re­gion (Amer­i­cas, Europe, Asia Pa­cific, and Mid­dle East & Africa) - Global Fore­cast to 2023” The syn­thetic gyp­sum mar­ket is pro­jected to reach USD 1.80 Bil­lion by 2023. The mar­ket is pro­jected to wit­ness sig­nif­i­cant growth over the next few years with the in­creas­ing de­mand for new con­struc­tions due to rapid ur­ban­iza­tion and in­dus­tri­al­iza­tion with large-scale in­vest­ment in the com­mer­cial and in­fras­truc­tural sec­tors. The ris­ing de­mand for syn­thetic gyp­sum in emerg­ing economies and the in­creas­ing in­cli­na­tion to­ward sus­tain­able con­struc­tion meth­ods are in­creas­ing the re­liance on modern con­struc­tion ma­te­ri­als, thus cre­at­ing growth op­por­tu­ni­ties for the syn­thetic gyp­sum mar­ket.

The dry­wall seg­ment is es­ti­mated to dom­i­nate the mar­ket in 2018 and is pro­jected to be the fastest-grow­ing ap­pli­ca­tion in the next five years. As a re­sult of rapid ur­ban­iza­tion and in­dus­tri­al­iza­tion, this mar­ket is mostly driven by the surge in de­mand for new con­struc­tions across the world. The in­creas­ing pub­lic and pri­vate in­vest­ments in con­struc­tion ap­pli­ca­tions of emerg­ing economies in Asia Pa­cific, the Mid­dle East, and South Amer­ica drive the growth of this mar­ket.

FGD syn­thetic gyp­sum finds ap­pli­ca­tion in sev­eral sec­tors, which drives its de­mand. This seg­ment dom­i­nates the syn­thetic gyp­sum mar­ket and is pro­jected to grow at a higher rate dur­ing the fore­cast pe­riod. FGD gyp­sum is used in the agri­cul­ture sec­tor as a fer­til­izer to im­prove crop yield. It also finds ap­pli­ca­tion in the build­ing & con­struc­tion in­dus­try to make dec­o­ra­tive pan­els and PoP struc­tures. Hence, the FGD syn­thetic gyp­sum type ac­counted for a rel­a­tively larger share in syn­thetic gyp­sum mar­ket among all other types.

Asia Pa­cific con­trib­utes a ma­jor share in the global syn­thetic gyp­sum mar­ket. Due to the in­creas­ing in­dus­tri­al­iza­tion as well as the large pop­u­la­tion in China, Ja­pan, and In­dia, these coun­tries are ex­pe­ri­enc­ing high de­mand for build­ing & con­struc­tion. The rapid ur­ban­iza­tion in these coun­tries de­mands faster and cheaper con­struc­tion of build­ings and fa­cil­i­ties with­out com­pro­mis­ing on qual­ity. Ad­di­tion­ally, the in­creas­ing govern­ment in­vest­ments in in­fras­truc­tural con­struc­tions pro­vide the po­ten­tial for growth of the syn­thetic gyp­sum mar­ket in these coun­tries.

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