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The Synthetic Gypsum Market, valued at USD 3.41 billion in 2023, is expected to grow at a compound annual growth rate (CAGR) of 4.87 % from 2023 to 2033
INDIA, October 22, 2024 /EINPresswire / -- The synthetic gypsum
market involves the production, distribution, and use of synthetic gypsum, a byproduct primarily generated from flue
gas desulfurization (FGD) systems in coal-fired power plants. This material is formed through a chemical reaction between sulfur dioxide (SO2) emissions and limestone or other calcium-containing substances. This market includes manufacturers of FGD systems, power plants, gypsum producers, construction material manufacturers, and other industries that use gypsum products. Key factors driving the growth of the synthetic gypsum market include stringent environmental regulations aimed at reducing sulfur emissions from power plants, the cost advantages of synthetic gypsum compared to natural gypsum, and the rising demand for sustainable building materials.
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Unlocking Growth Potential
Synthetic gypsum is often considered more cost-effective than natural gypsum due to its status as a byproduct of various industrial processes. This makes it an appealing choice for sectors such as construction, agriculture, and cement manufacturing, where gypsum plays a crucial role. The increasing emphasis on sustainable practices across industries drives the demand for synthetic gypsum, as it provides a means to reduce waste while offering properties similar to those of natural gypsum, thereby supporting sustainable construction methods. Advancements in flue gas desulfurization (FGD) systems and gypsum processing technologies enhance the efficiency and cost-effectiveness of synthetic gypsum production, further strengthening its market competitiveness. Growing awareness among industries and consumers regarding the environmental benefits of synthetic gypsum, along with its comparable quality to natural gypsum, promotes its adoption across various applications.
The Future of Synthetic Gypsum Market
As environmental sustainability becomes a priority, the demand for construction materials with minimal ecological impact rises. Synthetic gypsum, being a byproduct, serves as a sustainable alternative to natural gypsum and aligns well with green building initiatives and sustainability objectives. The implementation of stringent environmental regulations globally encourages the installation of FGD systems in coal-fired power plants and other facilities, increasing the availability of synthetic gypsum as a byproduct and creating opportunities for market growth. Moreover, synthetic gypsum is gaining traction beyond traditional construction uses. There is increasing interest in its applications for soil amendments, agricultural uses, and industrial processes like cement manufacturing. Expanding into these new applications can provide additional market opportunities for synthetic gypsum producers.
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Core Market Segments
“The FGD gypsum segment is expected to grow faster throughout the forecast period.
Based on Type, the synthetic gypsum market is segmented into FGD gypsum, citro gypsum, fluro gypsum, phosphogypsum, and others. The FGD gypsum segment leads the market, holding the largest share. FGD gypsum is produced from flue gas desulfurization systems and possesses a chemical composition similar to that of natural gypsum, often regarded as purer. Its production process is considered environmentally friendly, making FGD gypsum an ecologically beneficial option.”
“The drywall segment is expected to grow faster throughout the forecast period.
By Application, the market is divided into drywall, cement, soil amendment, dental, water treatment, and others. The drywall segment captures the largest market share in the synthetic gypsum market, primarily driven by the increasing construction activities in emerging countries. As urbanization accelerates, the demand for residential spaces rises, thereby boosting the need for synthetic gypsum in drywall applications.”
Industry Leaders
LafargeHolcim, National Gypsum, Synthetic Materials, Knauf Gips, American Gypsum, EECO International, Continental Building Products, Delta Gypsum, Gyptec IBERICA and Saint-Gobain.
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North America to main its dominance by 2033
North America is a dominant force in the synthetic gypsum market, with the U.S. leading due to the extensive implementation of flue gas desulfurization (FGD) systems in coal-fired power plants. The strong construction activity, particularly in residential and commercial sectors, fuels the demand for gypsum-based products. The presence of major gypsum manufacturers and well-established infrastructure further enhances market growth. While Canada also benefits from FGD adoption and construction initiatives, its market is smaller in scale. However, growth in infrastructure projects and renovation activities in Canada still contributes to the rising demand for synthetic gypsum.
Key Matrix for Latest Report Update
.Base Year: 2023
.Estimated Year: 2024
.CAGR: 2024 to 2034
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Swapnil Patel
Evolve Business Intelligence
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