Synthetic Gypsum Market to Reach US$ 1,693.72 Million by 2027 by Growing Demand in Construction and Agriculture Sectors

global synthetic gypsum market is projected to reach US$ 1,693.72 million by 2027; it is expected to grow at a CAGR of 4.0% from 2020 to 2027

NEW YORK, UNITED STATES, April 28, 2023 /EINPresswire.com/ -- According to a recent market study, the synthetic gypsum market is expected to grow at a CAGR of 4.0% from 2020 to 2027, reaching a value of US$ 1,693.72 million by 2027. The study, conducted by [Your Company Name], highlights the factors driving the market growth, including the increasing demand for synthetic gypsum in the construction and agricultural industries.

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Synthetic gypsum is a high-quality, environmentally friendly product that is mostly created as a by-product of industrial processing. It possesses the same features and characteristics as natural gypsum and is used in a wide range of applications, including drywall, cement, soil amendment, dental, water treatment, and others.

The construction industry is one of the major consumers of synthetic gypsum, as it is widely used in the production of drywall, which is a popular building material. The synthetic gypsum market in the construction industry is expected to grow significantly over the forecast period, driven by the increasing demand for sustainable building materials and the growing trend of green building construction.

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.

The global Synthetic Gypsum market is segmented into North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA), and South America. APAC held the largest share of the market. India, China, Indonesia, Thailand, Vietnam, and Rest of APAC are among the major countries in APAC. Further, these emerging countries are witnessing an upsurge in the middle-class population along with an increase in urbanization, which further offers lucrative opportunities for key market players in the synthetic gypsum market. Countries such as Indonesia, Thailand, India, China, Vietnam, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector in which chemical, construction, and electronics, and other industries. The manufacturing sector in these countries has experienced a huge shift over the years. The manufacturing sector in Asia-Pacific is rapidly adopting innovative accelerators that include advanced technologies and processes. Over the last a few years, application ion expenditure in the region has increased significantly and is expected to increase at the highest estimated growth rate during the forecast period.

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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. All these factors are hampering the chemical & materials industry, and thus restraining the growth of various markets related to this industry. The market for synthetic gypsum is impacted by the pandemic due to shortfall in production along with limited transportation facilities.

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