Gypsum Market Size, Share, Trends, Growth Report and Outlook...

Gypsum Market Size, Share, Trends, Growth Report and Outlook (2024–2032)

Posted 2024-09-16 12:21:41

The global gypsum market is expected to grow from its estimated value of USD 2,610.87 million in 2024 to USD 3,784.96 million by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to rise at a CAGR of 4.75%.

Overview of the Global Gypsum Market

Gypsum is frequently used in the manufacturing of numerous building supplies. It helps regulate how quickly cement hardens. Additionally, it’s utilised in the production of wallboard, cement, and plaster of Paris. The increased usage of this product as a soil conditioner has resulted in a notable increase in demand. It assists in modifying the composition and structure of heavy clay soils, especially those that have undergone significant weathering as a result of intense agricultural production methods. It contributes to increased agricultural output and improved fertility.

Gypsum Market

Global Gypsum Industry: Development Drivers

Because single- and multi-family home styles are on the rise, the worldwide gypsum market is expected to develop due to the rising demand from the residential construction industry and rising consumer expenditure on sophisticated materials for construction activities. The market is expanding as a result of the building sector’s quick expansion and the growing use of gypsum in construction projects worldwide.

The ability of the product to offer unique textures and designs on its surface, coupled with the growing desire for aesthetically pleasing home renovations in infrastructures, is anticipated to fuel the growth of the global gypsum market.The main purpose of wallboards and ceiling boards is to enhance the interiors of both residential and commercial structures. The worldwide gypsum industry is expected to rise as a result of rising urbanisation in developing nations and increased government support for residential building in the real estate sector.

Gypsum Market

Furthermore, manufacturers’ increasing attention to upscale residential and commercial spaces is probably going to positively influence the growth trajectory of the worldwide gypsum market. Leading industry participants are focussing on increasing production capabilities in addition to introducing gypsum boards to improve the strength and durability in order to increase their customer base. Increased R&D efforts to enhance the functionality and introduction of novel goods are supporting the global market expansion.

Artificial Intelligence’s (AI) Effect on the Gypsum Market

The gypsum market is predicted to be significantly impacted by advances in AI. With the use of this technology, the mining sector is able to increase accuracy, optimize a number of processes, and improve safety while exploring for minerals. Market participants in the areas of production, supply chain, and customer relationship management are probably going to use AI solutions. Production and the supply chain should move more quickly as a result, and mistakes and resource loss should be avoided. The construction sector and suppliers of building materials, who are among gypsum’s main end consumers, are investigating how AI might be used to increase sustainability. Opportunities in the market are expected to arise from this.

Scope of the Global Gypsum Market Report:

Gypsum Market

International Gypsum Market: Division

There are three segments in the global gypsum market: application, product, and region.The market can be divided into pre-engineered metal buildings, commercial, industrial, institutional, and residential segments based on the applications. Because of the world’s increasing urbanization and the need for more contemporary and visually pleasing materials for infrastructure, the residential sector currently accounts for the greatest proportion of the gypsum market worldwide.

Additionally, there are more materials used in non-environmental construction projects. The extensive usage of gypsum in PEBs for roofing and exterior wall applications is also greatly propelling the market’s expansion. The pre-decorated board, ceiling board, wallboard, and other products are the different product segments that make up the market. Because wallboard is in such high demand as an alternative to plaster, it holds the highest share in the market.

Gypsum Market Worldwide: Regional Evaluation

Due to the region’s rapidly expanding construction industry and high demand for gypsum in a variety of applications, North America holds the greatest share of the worldwide gypsum market. Growing costs associated with both residential and commercial building are creating a wealth of profitable options in the area.

Asia Pacific is expected to hold a dominant position in the global gypsum market because of the rise in building projects in developing nations like China and India. Furthermore, the expansion of regional markets is being fueled by the government’s increased backing. The Middle East and Africa are becoming a promising area in the global gypsum market because of the growing investments made by various market participants and governments to support the building sector.