by
The Calcium Sulphate Market is estimated to be valued at US$ 1.91 billion in 2023 and is expected to exhibit a CAGR of 5.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Calcium Sulphate, also known as gypsum, is a versatile mineral compound widely used in various applications such as construction, agriculture, and healthcare. It is commonly used as a building material due to its fire-resistant and soundproofing properties. Additionally, calcium sulphate finds applications in the pharmaceutical industry for manufacturing tablets and as a supplement in calcium-deficient diets. Its role as a soil conditioner and fertilizer further contributes to its market growth.
Market Dynamics:
The growth of the Global Calcium Sulphate Market is mainly driven by the increasing demand for eco-friendly construction materials. With the rising awareness regarding sustainable construction practices, there is a growing preference for materials that have minimal environmental impact. Calcium sulphate fulfills this requirement, as it is a naturally occurring mineral that can be readily recycled.
Furthermore, the expanding pharmaceutical industry is expected to fuel the market growth. Calcium sulphate is extensively used in pharmaceutical formulations, such as tablets and medical plasters, owing to its excellent binding and disintegration properties.
Segment Analysis:
The segment analysis of the calcium sulphate market reveals that the construction segment dominates the market. Calcium sulphate is widely used in the construction industry as a building material for various applications such as wallboards, plaster, and cement. The construction segment holds a significant share in the market due to the increasing number of residential and commercial construction activities globally. With the growing population and urbanization, the demand for affordable housing and infrastructure development has surged, leading to the high demand for calcium sulphate in the construction sector. Additionally, calcium sulphate offers various advantages such as fire resistance, sound insulation, and sustainability, further driving its dominance in the construction segment.
PEST Analysis:
Political: The political factors influencing the calcium sulphate market involve government regulations and policies related to construction activities. Governments across the globe are implementing stringent rules to ensure sustainable and eco-friendly construction practices, which in turn, boost the demand for calcium sulphate as it is considered a green building material.
Economic: The economic factors impacting the calcium sulphate market include economic growth, infrastructure development, and construction spending. Rapid economic growth in emerging economies, increasing disposable income, and rising urbanization have led to significant investments in construction projects, driving the demand for calcium sulphate.
Social: The social factors related to the market encompass the increasing awareness about sustainable construction practices and the preference for eco-friendly building materials. Consumers are becoming more conscious about the environmental impact of construction materials, leading to a growing demand for calcium sulphate which is considered as a sustainable option.
Technological: The technological factors influencing the market include advancements in manufacturing processes, product innovations, and the use of automation in construction activities. Technological developments in the production of calcium sulphate have led to improved quality, efficiency, and cost-effectiveness, further driving its adoption in the construction industry.
Key Takeaways:
The global calcium sulphate market is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period of 2023-2030. This growth can be attributed to the increasing construction activities globally, driven by factors such as rapid urbanization, population growth, and infrastructure development. The construction segment dominates the market due to the extensive use of calcium sulphate in various applications such as wallboards, plaster, and cement.
In terms of regional analysis, Asia Pacific is the fastest-growing and dominating region in the calcium sulphate market. The region is witnessing rapid urbanization and infrastructure development, particularly in countries like China and India. The expanding construction industry in this region, along with government initiatives to promote sustainable building practices, is driving the demand for calcium sulphate.
Key players operating in the calcium sulphate market include Knauf Gips KG, LafargeHolcim, National Gypsum Company, Saint-Gobain Group, Yoshino Gypsum Co., Ltd., ACG Materials, Anhydritec, BNZ Materials Inc., American Gypsum, and Gyptec Iberica. These key players hold
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
