Gypsum Industry Size, Share, Demand, Sales & Growth by 2033
The global has had phenomenal expansion in recent years. One of the key elements driving the gypsum mineral market’s growth is the expansion of the building sector.
Gypsum sales are estimated to reach US$ 7.85 billion in 2023. By 2033, the market may register a 6.2% CAGR, reaching US$ 13.76 billion.
House Interiors are Assimilating Synthetic Gypsum Products to Amplify Organic Gypsum Demand
Construction design has become an art form thanks to modern technology. Gypsum is a material that is becoming more and more well-liked. Synthetic gypsum is an ideal material for interior design considering its potential to insulate areas and conserve energy. It conceals the exposed wiring without looking bulky or out of place. The gypsum mineral is perfect for homes in busy neighborhoods because it can absorb sound.
Gypsum is becoming more and more popular at astounding rates. The commercialization of the home interior and decorative business intends to offer the maximum high-growth prospects for the gypsum market.
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Gypsum’s Potential in the Agricultural Industry to Support Gypsum Market Expansion
While farmers have utilized gypsum (calcium sulfate dihydrate) for generations, it has gotten an increased interest in recent years due to various benefits of natural gypsum, including:
- Supply of Calcium and Sulfur for Plant Nutrition: As soil quality deteriorates, plants become more sulfur deficient. Therefore, being a rich supply of sulfur, gypsum powder is gaining popularity as a feasible solution to this problem.
- Improves Acid Soils and Treats Aluminum Toxicity: Gypsum can reduce aluminum toxicity, which frequently coexists with soil acidity, especially in subsoils.
- Improves Soil Structure: Aggregation, or flocculation, is required to establish a soil condition favorable for root development as well as air and water circulation. Natural gypsum has traditionally been employed in sodic soils to improve aggregation and minimize or eliminate dispersion.
Availability of Substitutes to Cap Gypsum Market Growth
Gypsum has various replacements, particularly in the building industry, which may impede the expansion of the gypsum market.
There is no feasible substitute for gypsum in the production of Portland cement. Synthetic gypsum produced by various industrial processes, including FGD of smokestack emissions, is critical as a substitute for natural gypsum in wallboard manufacturing, cement production, and other applications.
Strong Growth Potential May Be Posed by China’s Soaring Construction Industry
The construction industry in China has grown tremendously. A survey that was released predicted that in 2023, the value of China’s construction industry may surpass US$ 4.5 trillion. A CAGR of 4.1% is anticipated for the gypsum powder market for the projection period.
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