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Synthetic Gypsum Market Size Worth $1,693.72 Mn By 2027

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Synthetic Gypsum Market Size Worth $1,693.72 Mn By 2027

November 19
00:06 2021
Synthetic Gypsum Market Size Worth $1,693.72 Mn By 2027
Global Synthetic Gypsum Market, by Type – 2019 and 2027
Synthetic Gypsum Market to Grow at a CAGR of 4.0% by 2027. In 2019, North America contributed to the largest share in the global market.

According to our latest market study on “ Forecast to 2027 – COVID-19 Impact and Global Analysis – Typeand Application,” the market was valued at US$ 1,244.02 million in 2019 and is projected to reach US$ 1,693.72 million by 2027.

Strategic Insights

Report Coverage

Details

Market Size Value in

US$ 1,244.02 Million in 2019

Market Size Value by

US$ 1,693.72 Million by 2027

Growth rate

CAGR of 4.0% from 2020-2027

Forecast Period

2020-2027

Base Year

2020

No. of Pages

151

No. Tables

74

No. of Charts & Figures

91

Historical data available

Yes

Segments covered

Type and Application

Regional scope

North America; Europe; Asia Pacific; Latin America; MEA

Country scope

US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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Synthetic gypsum is mostly created as by-product of industrial processing. The gypsum is composed of calcium sulfate dihydrate, and mostly possesses the same features and characteristics of natural gypsum, as well as it are a high quality and environment friendly product. The synthetic gypsum is mostly used in the construction and agricultural industries.

Growing Usage of Synthetic Gypsum in Agriculture Industry to Boost in the Global Market

Synthetic Gypsum has been used increasingly in the agriculture industry since it has two essential nutrients which are calcium and sulfur. Synthetic gypsum in the agriculture industry is mainly used as a fertilizer in order to improve the yield of the crop as it helps in adding sulfur and calcium in the soil. It is also used for the purpose of soil amendment and as a fertilizer for alkaline soil treatment which improves the overall crop productivity. Synthetic gypsum becomes an important source of nutrition for the plants. FGD gypsum which is a type of synthetic gypsum, is applied to the soil in order to improve the yield as well as improve the quality of the agricultural products. FGD gypsum provides calcium and sulfur to the soil as well as essential micronutrients to the plants. Synthetic gypsum, mostly FGD gypsum can be used as a soil conditioner which will help in improving the physical and the chemical properties of the soil by providing better aggregation, minimizing subsoil acidity and aluminum toxicity, and also minimizing the loss of soil and soluble phosphorus from the agricultural fields. Synthetic gypsum also helps in improving acidic soils. Thus, due to all these applications, the usage of synthetic gypsum in the agricultural industry has increased.

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.

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Synthetic Gypsum Market: Type

Based on type, the synthetic gypsum market is segmented into FGD Gypsum, Fluorogypsum, Phosphogypsum, Citrogypusm, and Others. In 2019, the FGD Gypsum segment held the largest share of the market. Carbon synthetic gypsum is one of the most extensively used construction and flooring materials in industries. Light duty carbon synthetic gypsums are used in applications such as pedestrian traffic and light, and rolling traffic such as carts, dollies, and hand trucks. The expanding range of applications of carbon Synthetic Gypsum mainly due to its high wear resistance and strength is anticipated to promote the market growth for FGD Synthetic Gypsum segment during the forecast period.

Synthetic Gypsum Market: Competitive Landscape and Key Developments

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.

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