The global gypsum market is estimated to expand at 6.2% CAGR over the forecast period between 2021 and 2031, finds Future Market Insights (FMI) in a recent market analysis. Domestic consumers of gypsum are expected to remain dominant end users. This can be attributed to expansion of key end-use industries such as the construction sector, especially in emerging economies.
Gypsum is a vital construction material and is used widely in Portland cement, building plaster, and several other construction products. The construction industry is a primary end user in the gypsum market and growth of the construction industry has a direct impact on the growth of the gypsum market.
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In the construction industry, gypsum is used for several applications such as in the production of cement, plaster, drywall manufacturing, and others. Growth in construction industry is expected to elevate the consumption of gypsum over the forecast period.
Outbreak of novel corona virus has obstructed the global economy at various levels. With the consecutive waves of COVID-19 pandemic and stricter governmental regulations imposed to stop its further spread economy graph witnessed negative slope. Demand for gypsum was also impacted heavily by COVID-19 outbreak owing to disturbance in supply chain network and complete halt on production and construction activities.
“Consistently growing demand for construction products especially cement is expected to bolster the sales of gypsum over the assessment period of 2021-2031,” says an FMI analyst.
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Key Takeaways:
- Global gypsum market is expected to reach a value over US$ 7 Bn by the end of the forecast period growing at a CAGR of 6.2% through 2031.
- The cement industry is key consumer of gypsum owing to the increasing use of gypsum in the production of cement.
- East Asia is expected remain dominant both in terms of production and consumption of gypsum owing to strong presence of end users in the region.
- Rising disposable income of population is expected to elevate spending on interior decoration activities across the globe, which in turn is anticipated to be key factor bolstering the sales of gypsum in Interior decoration industry
- China is the dominant producer of crude gypsum followed by the United States and other countries.
- India exhibits huge growth potential in the gypsum market owing to rising government initiatives adopted to encourage infrastructure development, which are subsequently driving cement production.
Competitive Landscape
Key participants in the global gypsum market elaborated in the report includes Azko Nobel, Sherwin Williams Company, Asian Paints Ltd., Nippon Paints, Valspar Corporation, Jotun, BASF-SE, RPM International Inc., KANSAI Paints Co., Ltd. and Berger Paints.
Manufacturers involved in the production of gypsum are laying emphasis on expansion by establishing new plants that will help them to increase their production capacities and gain access to new distribution networks, which is expected to increase their customer base.
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Moreover, several manufacturers are engaged in strengthening their product portfolio by strategic acquisition and mergers to attract maximum consumer base.
- In line with this, in March 2020, Knauf AG announced plans for a second gypsum wallboard production line in Bukhara, Bukhara region. The plans also include an investment of US$ 2.4 Mn in an additional gypsum mixture line at its Bukharagips plant.
- In August 2021, the company announced acquisition of Southwest Rock Products. This acquisition helps company to develop its construction product portfolio
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