Synthetic Gypsum Market Size, Share, Growth Analysis, By Type(FGD gypsum, phosphogypsum, and others), By Application(Construction, agriculture, and others), By Region - Industry Forecast 2024-2031

Synthetic Gypsum Market size was valued at USD 2244 million in 2022 and is poised to grow from USD 2.36 billion in 2023 to USD 3.39 billion by 2030, at a CAGR of 5.3 % during the forecast period (2023-2030).

The synthetic gypsum market exhibits a competitive landscape characterized by the presence of several key players striving to gain a significant market share. These players focus on strategies such as mergers and acquisitions, partnerships, and product innovations to strengthen their foothold in the market. These companies leverage their technological expertise, extensive distribution networks, and diverse product portfolios to cater to the growing demand for synthetic gypsum across various industries such as construction, agriculture, and cement manufacturing. 'LafargeHolcim Ltd. - Switzerland', 'Saint-Gobain S.A. - France', 'National Gypsum Company - United States', 'USG Corporation - United States', 'Knauf Gips KG - Germany', 'Continental Building Products - United States', 'American Gypsum Company - United States', 'CertainTeed Corporation - United States', 'Yoshino Gypsum Co., Ltd. - Japan', 'James Hardie Industries plc - Ireland', 'Etex Group - Belgium', 'Georgia-Pacific Gypsum LLC - United States', 'Boral Limited - Australia', 'PABCO Building Products, LLC - United States', 'Winstone Wallboards Limited - New Zealand', 'Gypsum Resources Materials LLC - United States', 'Gypsemna Company LLC - United Arab Emirates', 'Grenzebach BSH GmbH - Germany', 'Continental Gypsum Company - United States', 'Gypsum Management and Supply, Inc. - United States'

One driver of the synthetic gypsum market is the increasing demand for sustainable construction materials. Synthetic gypsum, which is produced as a byproduct from the flue gas desulfurization (FGD) process in coal-fired power plants, offers a viable alternative to natural gypsum in various construction applications. It possesses similar properties to natural gypsum and can be used in the production of gypsum boards, cement, and plaster, among other products. The growing awareness and emphasis on sustainable building practices, coupled with stringent environmental regulations, have fueled the adoption of synthetic gypsum as a greener alternative. This has contributed to the market's expansion.

There is a growing demand for synthetic gypsum due to its eco-friendly and sustainable nature as it is a byproduct of flue gas desulfurization in power plants and other industrial processes. Additionally, the construction industry is a major driver of the market, with synthetic gypsum being extensively used in the manufacturing of drywall, cement, and plaster products.

The synthetic gypsum market exhibits diverse regional dynamics. In North America, the market is primarily driven by the construction industry's demand for sustainable and cost-effective building materials.