by The calcium sulphate Market is estimated to be valued at US$ 1.91 Bn in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Calcium sulphate, commonly known as gypsum, is a widely used mineral in construction materials. It is primarily used to manufacture drywall panels, plasters, and other products that are used in buildings. Calcium sulphate offers various advantages such as fire resistance, moisture resistance, sound insulation, and durability. Owing to rapid urbanization and infrastructure development activities globally, the demand for construction materials is increasing rapidly thereby fuelling the calcium sulphate market.
Market Dynamics:
Rising construction activities: The primary driving factor for the calcium sulphate market is the robust growth of the global construction industry. According to the Global Construction 2030 report, the global construction output is projected to grow by 85% to US$ 15.5 trillion by 2030. The growing construction of residential and non-residential buildings especially in developing countries is augmenting the demand for calcium sulphate as a key construction material.
Improving economic conditions: Strong economic growth in emerging countries is positively influencing the construction industry. Countries with strong GDP growth offer lucrative opportunities for construction firms to undertake various infrastructure projects thereby propelling the consumption of calcium sulphate. For instance, China and India are anticipated to contribute over 50% of global construction growth by 2030.
Segment Analysis
The global calcium sulphate market can be segmented based on type and application. Based on type, the market can be bifurcated into hemihydrate and dihydrate. Hemihydrate calcium sulphate currently dominates the market as it is an anhydrous and more reactive form compared to dihydrate. The hemihydrate segment accounts for over 60% market share owing to its versatility and uses ranging from construction materials to stucco plaster and industrial applications.
PEST Analysis
Political: The construction industry regulations regarding building codes and safety standards influence the demand for calcium sulphate as a construction material.
Economic: Growth in the construction sector especially in emerging economies of Asia Pacific is a key driver for calcium sulphate market.
Social: Rising population and rapid urbanization increase the need for housing, commercial buildings and infrastructure projects which boost the calcium sulphate consumption.
Technological: Introduction of advanced production techniques helps manufacturers improve the purity levels and reduce impurities in calcium sulphate, increasing its usage.
Key Takeaways
The Global Calcium Sulphate Market Size is expected to witness high growth, exhibiting CAGR of 5.9% over the forecast period, due to increasing investment in the construction sector. The market size for 2023 is US$ 1.91 Bn.
The Asia Pacific region is expected to be the fastest growing as well as the dominating regional market owing to economic development and rising construction activities in China and India.
Key players operating in the calcium sulphate market are Knauf Gips KG, LafargeHolcim, National Gypsum Company, Saint-Gobain Group, Yoshino Gypsum Co., Ltd., ACG Materials, Anhydritec, BNZ Materials Inc., American Gypsum, Gyptec Iberica. These players are focusing on capacity expansion and new product launches to gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
