First publishedon www.AggBusiness.com
The synthetic gypsum market is set to grow at a compound annual growth rate (CAGR) of 4.82% to reach US$1.8 billion (€1.51bn) in 2023, according to a report by market research firm MarketsandMarkets (M&M).
M&M says the market is expected to witness significant growth in the next few years due to growing demand for new constructions as a result of rapid urbanisation and industrialisation, with huge investment in the infrastructural and commercial sectors.
A summary of the report released by the market research company continues: “The drywall segment is expected to be the fastest-growing application during the forecast period and the FGD gypsum segment is expected to grow at a higher rate over the forecast period. The Asia Pacific region accounted for the highest share in the global synthetic gypsum market in 2018 due to growing industrialisation and high demand for building and construction in China, India and Japan.”
The M&M report lists key players in the synthetic gypsum market. It includes USG, FEECO international, LafargeHolcim, Synthetic Materials and Delta Gypsum, among others.