Synthetic Gypsum Market worth $1.8 Billion by 2030 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Sept. 2, 2024 /PRNewswire/ -- The report "Synthetic Gypsum Market by Type (FGD Gypsum, Phosphogypsum, Citrogypsum, Fluorogypsum), Application (Cement, Building Materials, Gypsum Board, Soil Amendments, Dental), & Region - Global Forecast to 2030", size is projected to grow from USD 1.4 billion in 2024 and is projected to reach USD 1.8 billion by 2030, at a CAGR of 4.3%. Synthetic gypsum is a by-product produced during the flue gas desulfurization process of a power plant, where the sulfur dioxide emissions can be reduced. Regarding the chemical composition, it is like natural gypsum and used to produce cement, gypsum board, and several building materials in the construction industry. Since the environmental regulations tend to get tougher and the construction market maintains to grow, especially in APAC, the Middle East, and South America, the demand for synthetic gypsum should increase. Moreover, it should be noted that the trend of wet FGD use in power plants fosters the synthetic gypsum application. The building industry becomes increasingly oriented towards green and cost-effective materials and, as a result, synthetic gypsum is likely to play a significant role in the future world of green construction.

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Phosphogypsum segment is estimated to be the 2nd largest type segment of synthetic gypsum.

Synthetic gypsum market is projected to have phosphogypsum as the second-largest segment, which is a by-product of the phosphate fertilizer industry. This is due to its increasing usage in agriculture, construction and road building among other applications. Its richness in calcium sulphate makes it valuable as a soil conditioner that improves soil structure and fertility. Furthermore, this material is used for making cement, plaster and wallboard hence causing its demand to rise. Besides, phosphogypsum market has been expanding following the environmental regulations that promote recycling of industrial by-products. Therefore, with the need for sustainable and economical materials in industries, there will be a tremendous growth of phosphogypsum's role in synthetic gypsum market.

By Application, Gypsum Board segment of the synthetic gypsum market is expected to account for the 2nd largest share during the forecast period.

In the synthetic gypsum market, gypsum board application holds the second largest share. Gypsum board is also known as drywall or plasterboard, and it is widely used in construction industry due to its ease of installation, fire resistance, and sound insulation. The demand for synthetic gypsum in this segment is driven by its environmental benefits, consistent quality, and cost-effectiveness compared to mineral gypsum. This application benefits from the increasing construction activities globally, particularly in residential and commercial buildings, which require large quantities of gypsum board for ceilings, walls, and partitions. Consequently, the synthetic gypsum market continues to expand, with gypsum board playing a pivotal role in its growth.

The synthetic gypsum market is expected to be dominated by the Asia-Pacific region owe to the increasing rate of industrialization and urbanization especially in the developing countries such as China and India. The demand for construction materials has increased greatly due to massive investment in construction of infrastructure and housing. Also, cement and gypsum board industries in the region remain some of the largest consumers of synthetic gypsum. Policies that encourage environmentally friendly practices and the accessibility of raw materials also enhance the market's expansion. In conclusion, Asia-Pacific's synthetic gypsum market holds great potential due to the region's constantly developing economy and a steadily growing construction industry.

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Key players

The Synthetic gypsum market comprises key manufacturers such as are Knauf Group (Germany), Holcim Group (Switzerland), Saint-Gobain SA (France), Georgia-Pacific Gypsum LLC (US), Etex Group (Belgium), National Company Gypsum Services (US), James Hardie Industries Plc. (Ireland), Synthetic Materials (US), Yoshino Gypsum Co., Ltd. (Japan), and American Gypsum Company, LLC (US) among others are the major players in the synthetic gypsum market. 

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