The gypsum mining market involves the extraction of gypsum, a soft sulfate mineral composed of calcium sulfate dihydrate. Gypsum is widely used in construction and industrial applications, including drywall, plaster, and cement.
Market Overview:
Gypsum has high strength and fire resistance properties which makes it suitable for manufacturing cement, plaster of Paris and other construction material. It is widely used in construction industry for walls, ceilings and partitions.
The global Gypsum Mining Market is estimated to be valued at US$138.85 Mn in 2023 and is expected to exhibit a CAGR of 3.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key driver for Gypsum Mining Market Size is rising construction activities across the globe. According to the Global Construction 2030 report, the annual construction output is projected to grow by 85% to US$ 15.5 trillion worldwide by 2030. This growing construction industry will significantly drive the demand for gypsum for use in cement, plaster of paris and other construction applications. Another major trend is growing preference for green buildings which use materials that have less environmental impact over their life-cycle. Since gypsum has superior fire resistance, sound insulation and thermal mass properties; its use in green construction is expected to increase in coming years.
SWOT Analysis
Strength: Gypsum mining has wide applications in construction industry and manufacturing industry. It is cost effective mineral with diverse usages.
Weakness: Exploration and mining of gypsum requires substantial investments. Fluctuations in construction activities impact the demand for gypsum.
Opportunity: Increasing infrastructure development activities and growing construction sector in Asia Pacific region creates new opportunities. Development of calcium-based waste recycling offers new growth prospects.
Threats: Stringent mining regulations and environmental policies pose challenges. Volatility in raw material prices and availability is a threat.
Key Takeaways
The Global Gypsum Mining Market Size is expected to witness high growth, exhibiting CAGR of 3.8% over the forecast period, due to increasing infrastructure development activities globally.
Regional analysis: Asia Pacific region dominates the gypsum mining market with a share of over 35% in 2023 owing to high construction activities in China and India. The market in Asia Pacific is projected to grow at the fastest rate during the forecast period supported by increasing building construction in developing countries. North America is also a major regional market for gypsum mining supported by thriving reconstruction activities in the US.
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. The key players are focusing on geographical and capacity expansion to meet the growing demand for gypsum. Mergers and acquisitions are among the important strategies adopted by major companies to leverage new opportunities.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
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