The global gypsum market will see steady growth across the next decade due to ongoing demand in the construction segment according to the latest research from Smithers.
The latest Smithers market report, ‘The Future of Gypsum: Market Forecasts to 2030’
forecasts that global gypsum market value will increase from $2.41 billion in 2020 to $3.56 billion by 2030, with a global CAGR of 3.9% from 2020 to 2030. This growth will be primarily in transition countries, which includes all of Asia.
Nearly 99% of gypsum is used in construction products, and the barometer that predicts the economic state of the gypsum industry is the building industry. If construction is expanding, then so is the demand for gypsum products. With shifts in end-use demands increasing across the ten years to 2030, ‘The Future of Gypsum: Market Forecasts to 2030’
identifies the following key drivers that will define the industry across the next decade:
New demands in construction will lead to the development of innovative gypsum products and see companies diversify their product portfolios. This will create a price premium for certain higher performance products that offer superior durability, environmental performance and ergonomics. At the top of the market there will be some scope for plaster boards with smart functionality, such as monitoring moisture content.
End users will demand more durable gypsum products to resist impact and water damage, in response to more demanding building regulations. This will require refinements in gypsum production to optimise these products.
Government regulations and green building initiatives will generate an impetus for distributors to explore value-adding services that divert used gypsum from landfilling. A major focus will be for greater emphasis on gypsum recycling and its conversion into a new generation of construction materials.
As contractors continue to move towards greater pre-fabrication and panelisation, gypsum suppliers will need to develop plasterboards and other materials that can be adapted to these construction methods.
Automated construction –
The wider use of machinery in construction will push a demand for standardised gypsum products adapted for automated handling.
Site safety –
Laws in many jurisdictions will require closer monitoring of materials used in construction. This will require closer monitoring of supply chains and accurate disclosure of product composition.
Regional growth –
Many transition economies will see more demand for gypsum across the 2020s as they undergo booms in urbanisation and adopt plasterboards as an alternative to wet construction techniques employing cement and plaster.
Smithers latest report, ‘The Future of Gypsum: Market Forecasts to 2030’
examines the production and use of gypsum in both its natural and synthetic forms. It provides market sizes and projections from 2015 to 2030, by volume and value with over 100 data tables and figures. This includes a detailed examination of the outlook for all major uses of gypsum – plasterboard panels, plaster, blocks, self-leveling floors, cement and agriculture.
The research critically assesses regional geographic and national markets, and the trends that are driving change within these. Forecasts for building construction, which is the single largest user of gypsum, hinge upon and vary according to local economic prospects. This report explores these design and construction trends, specifically those that influence the use of gypsum. It also analyses the major producers of gypsum and plaster products, their vertical integration, and their strategies for expanding into developing markets.
Find out more information and gain a full list of contents and figures