- The gypsum-based products market may gain substantial growth on the back of the booming construction industry across the globe and the rise in demand for the products in developing countries
- Considering all the growth aspects, the global gypsum-based products market estimated to expand at a promising CAGR of between 2020 and 2030
ALBANY, N.Y., Nov. 2, 2020 /PRNewswire/ -- Gypsum is hydrated calcium sulfate and is white or pale yellow, depending on the source. It is a vital material used in manufacturing a diverse range of gypsum-based products such as POP, gypsum panel, rapid wall, and plaster. The recent boom in the construction sector, especially in the developing regions has led to the advent of novel construction projects across residential, commercial, and industrial sectors.
The consistent focus of architects, construction contractors, and other stakeholders on enhancing the quality of projects may bring extensive growth prospects for the gypsum-based products market.
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Based on all the factors associated with the growth, the global gypsum-based products market may expand at a healthy CAGR across the forecast period of 2020-2030. The global gypsum-based products market is expected to reach a value of ~US$ 560 mn by the end of the assessment period.
Technological advancements and innovations across the construction sector are playing a major role in increasing the growth rate of the gypsum-based products market. Furthermore, the overwhelming properties of gypsum are generating considerable growth opportunities for the gypsum-based products market.
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Gypsum-Based Products Market: Analysts Opinion
The analysts at Transparency Market Research (TMR) state the rising number of construction projects, increasing awareness, and the advancements in technology as the prominent growth-influencing factors. The analysts advise the players in the gypsum-based products market to focus on expansion activities and strengthen their online sales channels to increase sales.
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Gypsum-Based Products Market: Key Revelations
- In the context of raw material, the synthetic gypsum segment may expand at a notable CAGR across the forecast period of 2020-2030
- Asia Pacific accounted for a leading share of the global gypsum-based products market in 2019
- The gypsum-based products market in Asia Pacific may record a CAGR of more than 4 percent during the assessment period of 2020-2030
- The gypsum-based products market in India may expand at a CAGR of more than 3.5 percent by the end of 2030
- China, India, and Thailand may bring extensive growth prospects for the gypsum-based products market in Asia Pacific
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Gypsum-Based Products Market: Growth Propellers
The overwhelming properties of gypsum and the benefits etched to gypsum-based products may invite great growth opportunities for the gypsum-based products market during the assessment period of 2020-2030.
- The escalating demand for eco-friendly and energy-efficient products may boost the demand for the rapid wall, eventually increasing the growth rate of the gypsum-based products market
- Gypsum-based products are completely void of shrinkage cracks and this aspect may add a Midas touch to the growth
- Properties like high durability and low thermal conductivity may invite magnifying growth prospects for the gypsum-based products market
Gypsum-Based Products Market: COVID-19 Impact
The novel coronavirus pandemic may have a negative short-term impact on the growth of the gypsum-based products market. Impositions of stringent restrictions across various countries to contain the transmission of COVID-19 led to tremendous losses. All the manufacturing units and production facilities were shut, resulting in low production and demand. The pandemic may result in uncertainty, thus leading to a decline in the growth rate for a certain time.
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Global Gypsum-based Products Market: Segmentation
By Plaster System
- Manually-applied Plaster
- Machine-applied Plaster
- Finishes
By Raw Material
- Natural Gypsum
- Synthetic Gypsum
By Product Type
- Plaster
- POP
- Wall Putty
- Gypsum Panel
- Rapid Wall
By End Use
- Residential
- Non-residential
- Hospitality
- Healthcare
- Educational
- Institutes
- Offices Spaces
- Others
By Region
- Global
- India
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FGD Gypsum Market - Growth in the construction industry in Asia Pacific, North America, and Europe is anticipated to boost the global FGD gypsum market in the near future. Demand for gypsum is high in the construction industry due to wide applications in wallboard, cement, and plaster of Paris. FGD gypsum is recyclable; this makes it the first choice of material in the construction industry. The construction industry in Europe is significantly strong. It accounts for 10% share of the GDP of European Union. The construction industry in Europe is estimated to expand at a steady rate of 3% till 2020. The construction industry is significantly strong in Western Europe as compared to its counterpart in Eastern Europe. Furthermore, the European Union is focusing on energy efficient and green buildings plans. The region has developed a strong regulatory framework to achieve sustainable construction. These initiatives are likely to fuel the demand for gypsum wallboards and plasterboards in the construction sector in Europe. FGD gypsum boards are more energy-efficient and provide greener solutions than cement and concrete structures. Increase in population along with improvement in the standard of living in Asia Pacific is boosting the market in the region. In developing nations such as China and India, the demand for FGD gypsum is higher due to the development of industries and growth in the construction industry.
Gypsum Plaster Market - The global gypsum plaster market was valued at ~US$ 400 Mn in 2019 and is anticipated to expand at a CAGR of 3.5%, in terms of volume, from 2020 to 2030. Gypsum plaster possesses distinctive characteristics including high strength, crack resistance, water saving, ease of application, and lightweight. These play a vital role in driving the demand for gypsum plaster in the building & construction sector. Gypsum plaster is primarily used to protect walls and ceilings, and enhance the value of rooms in interiors of residential buildings, offices, hotels, hospitals, and educational institutes. Asia Pacific accounted for a major share of the global gypsum plaster market in 2019. The rise in the number of residential as well as non-residential construction activities, owing to increased urbanization across the region is expected to boost the consumption of gypsum plaster in the near future. In terms of demand, China held dominant share of the market in the region in 2019. The gypsum plaster market in China is expected to expand at a CAGR of ~4% (in terms of value) during the forecast period.
Wall Putty Market - The global demand for wall putty is estimated to increase significantly in the next few years. Commercialization of specialized wall putty and consistent capacity additions by key manufacturers across the globe are projected to boost the demand for wall putty in the near future. Rise in renovation and reconstruction activities across the globe is likely to propel the wall putty market, as wall putty is used widely in painting applications. Wall putty is increasingly being used to correct curve deviation of interior wall surfaces in order to obtain smooth and uniform interiors for repainting of the wall. Decrease in repainting cycle is anticipated to further propel the demand for wall putty in the near future.
Gypsum Recycling Market - The recycled gypsum offers huge benefits in several end-use sectors such as soil amendment, wastewater treatment, cement additive, roadways, and construction and building. This in turn, is likely to drive demand for gypsum recycling market in the forecast period. One of the major factors driving the growth of gypsum recycling market is rising demand for eco-friendly recycling techniques coupled with adoption of strict government regulations on harmful waste. The recycled gypsum is extensively used in the manufacturing of fresh plaster boards that minimizes the need of transportation cost, energy, and novel raw materials. In addition to this, the recycled gypsum risen from construction places enhances its applicability and water penetration. However, recycling companies sometimes encounter challenges related to technology in terms of separating hazardous waste and treating recyclable materials.
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