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.
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.
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2021-2031 Gypsum Market Outlook Compared to Growth Registered in 2016-2020
Demand for gypsum grew at 3.1% CAGR between 2016 and 2020. The outbreak of COVID-19 was unprecedented and it tightened its noose globally, faster than expected. Governments were therefore compelled to put COVID-19 response on war footing, which obstructed transport and human interaction.
Operations across various industries came to a standstill, which also hampered sales within the global gypsum market to a substantial extent. This is due to limitations in the movement and nationwide lockdowns, which hindered operations in the construction sector across several regions. This has in turn caused the demand for gypsum to plummet in 2020.
In the current scenario, consumption of gypsum is anticipated to grow at a CAGR of 5.8%. Expansion of the construction sector as operations recover post withdrawal of pandemic-induced restrictions is boosting the demand of gypsum, especially in India, China and GCC countries.
Gypsum is a versatile mineral owing to its wide range of applications. Superior property of calcium sulfate di-hydrate makes it useful for many applications. This also creates demand for gypsum in various forms including food additive, which is in making bread and dough, fire retardant in plastic products, source of calcium and sulfate to promote plant growth, and manufacturing of cements, mold materials and others. Such a wide range of applications provide stability to the demand graph of gypsum.
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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.
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
Gypsum Market by Category
By Product Type:
- Natural
- Synthetic
By End Use:
- Cement
- Drywalls
- Plaster
- Soil Amendment
- Gypsum Blocks
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asdia & Pacific
- Midle East & Africa