Propelled By Increasing Demand From Construction Industry The Global Calcium Sulphate Market To Show Robust Growth
Calcium sulphate, also known as gypsum, is a soft sulfate mineral composed of calcium sulfate dihydrate, with the chemical formula CaSO4ꞏ2H2O. It is widely used as a fertilizer and a base component in many construction materials like plaster of Paris, cement. Gypsum plays a critical role in construction where it is used in a number of building materials like fireproofing products, wallboards, cement, and stucco. The global Calcium Sulphate Market is estimated to be valued at US$ 1.91 Bn in 2023 and is expected to exhibit a CAGR of 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends: The construction industry has been witnessing substantial growth over the past few years. According to the Global Construction Perspectives and Oxford Economics report, the construction industry’s value is forecasted to grow by 85% to hit $15.5 trillion globally by 2030. This rapid growth in the construction industry has been fueling the demand for gypsum that finds widespread application across construction in materials like plasterboards, paints, cement etc. The increasing construction of residential & commercial properties around the world is expected to drive the demand for gypsum and boost the calcium sulphate market over the forecast period.
SWOT Analysis
Strength: Calcium sulphate has wide applications in industries such as construction, oilwell drilling, paper manufacturing, food additives etc. It has superior properties like fire resistance, moisture resistance which makes it suitable for these applications.
Weakness: Calcium sulphate based products have limited life and require frequent replacements. Production of calcium sulphate causes harm to the environment as it involves mining.
Opportunity: Growing construction and infrastructure development activities in developing regions of Asia Pacific and Middle East & Africa are providing growth opportunities. Also, ongoing research & development is expanding applications of calcium sulphate in new areas.
Threats: Presence of substitute products like gypsum and easy availability of raw materials locally can pose threats. Economic slowdowns can negatively impact the end-use industries and hence demand for calcium sulphate.
Key Takeaways
The global calcium sulphate market share is expected to witness high growth. Regional analysis related content comprises the Asia Pacific region is projected to be the fastest growing as well as dominating regional market during the forecast period. Factors such as rapid urbanization, growing population, rising disposable incomes are driving the growth of construction industry in the Asia Pacific region.
Key players operating in the calcium sulphate market are Samsung, Apple Inc., Microsoft Corporation, Mozo Accessories, iLuv Creative Technology, Energizer, Case-mate, and Muvit. These key players are focusing on new product launches and expansions to strengthen their market position. For instance, in 2022, Samsung launched its latest foldable smartphones Galaxy Z Flip4 and Galaxy Z Fold4 with improved durability.
The global calcium sulphate market size for 2023 is US$ 1.91 Bn. The market is forecast to grow at a CAGR of 6.0% during the period of 2023 to 2030.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.