Drywall Is Fastest Growing Segment Fueling The Growth Of The Global Gypsum Mining Market

 

Market Overview:
Gypsum is a soft sulfate mineral composed of calcium sulfate dihydrate, with the chemical formula CaSO4•2H2O. It is widely used as a fertilizer for agriculture due to its calcium and sulfur properties. In construction, gypsum is employed in the production of plaster of Paris, blackboard chalk, drywall, and other building materials.

The global Gypsum Mining Market is estimated to be valued at US$ 138.85 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the key trends driving the gypsum mining market is the increasing demand for drywall in residential and commercial construction. Drywall offers advantages over other interior wall materials as it is lightweight, cuts and installs easily, and provides fire resistance. Additionally, rapid urbanization in emerging economies is leading to infrastructural development and housing projects, thereby boosting the need for construction materials like drywall which uses gypsum as a key raw material. The growth in renovation and remodeling activities of old buildings is another factor contributing to the rising consumption of gypsum-based products.

Segment Analysis
The global gypsum mining market is dominated by the commercial construction sub-segment. The increasing number of infrastructure projects and commercial buildings is driving the growth of this sub-segment. Majority of gypsum finds application in wallboards, plaster of Paris, and cement used in construction activities. With rapid urbanization and infrastructure development projects, the demand for gypsum from the commercial construction sub-segment is expected to rise significantly over the forecast period.

Key Takeaways
The Global Gypsum Mining Market Size is expected to witness high growth, exhibiting a CAGR of 3.8% over the forecast period, due to increasing demand for gypsum from the construction industry. Asia Pacific is expected to dominate the regional segment, growing at a CAGR of 4.2% owing to rapid infrastructure development and increasing construction spending in countries like China and India. The gypsum mining market size for 2023 is US $138.85 Mn.

Key players operating in the gypsum mining market are Knauf AG, LafargeHolcim, Yoshino Gypsum Co. Ltd., Global Mining company, Saint Gobain, Jonoub Gypsum, Georgia Pacific, Zawami Minerals Co., Rajasthan State Mines, FCI Arawali Gypsum, AI Jood Natural Resources, American Gypsum, Gypsco, Vinayak Gypsum, Gypsona, Boero USA, Arcosa Specialty Chemicals. Knauf AG is one of the leading players in the market, known for its portfolio of innovative drywall and ceiling systems and other construction solutions.

Regional analysis:
Asia Pacific region holds the dominant share currently and is expected to witness the fastest growth over the forecast period. Countries like China, India are undergoing rapid infrastructure development which will augment the demand for gypsum significantly from the construction industry in coming years. In addition, increasing urbanization and spending on commercial and residential projects will drive the gypsum consumption in the Asia Pacific region.

Key players:
Key players operating in the gypsum mining market are focusing on expanding their production facilities and product portfolio to cater to the rising demand. For instance, in 2022, Knauf AG announced plans to invest €70 million in expanding its gypsum board plant in Bucharest, Romania to boost its production capacity in the region. Similarly, LafargeHolcim has expanded its global gypsum-related business through strategic acquisitions in key regions.

For More Insights, Read: https://www.newsstatix.com/gypsum-mining-market-size-share-and-growth-forecast-2023-2030/