February 25, 2024
Gypsum Mining Market

Projected Demand From Construction Industry To Boost Growth Of The Gypsum Mining Market

Market Overview:

Gypsum is a soft sulfate mineral composed of calcium sulfate dihydrate, with the chemical formula CaSO4·2H2O. It is widely used as a fertilizer and most importantly as a retardant in the manufacture of cement and plaster. Gypsum has fire resistant and sound insulating properties due to which it is used on a large scale in the construction industry for making plaster of Paris, wall boards, ceiling tiles and various other construction materials. It is a versatile mineral with wide applications in various end-use industries like construction, agriculture, food processing, ceramics.

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:

The demand from the construction industry accounts for over 60% of the total gypsum consumption globally. Factors such as rapid urbanization, rising disposable incomes and growing infrastructure development are driving the demand for gypsum from the construction sector. Additionally, gypsum has several desirable qualities like fire resistance, thermal insulation and sound control which further propels its preference for use in the construction of homes, commercial buildings and infrastructure projects. Other key trends include rising focus on commercial and infrastructure construction in developing countries and growing adoption of gypsum boards in non-residential construction.

Porter’s Analysis

Threat of new entrants: Low capital requirement and available raw material makes threat of new entrants moderate in the gypsum mining market.
Bargaining power of buyers: Large number of buyers are present in the gypsum mining market which increases their bargaining power.
Bargaining power of suppliers: Due to availability of gypsum reserves with many countries, bargaining power of suppliers is low in this market.
Threat of new substitutes: Good quality substitutes for gypsum are not available hence threat from substitutes is low.
Competitive rivalry: Presence of many large players increases competitive rivalry in the gypsum mining market.

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.

The gypsum mining market size for 2023 is US $138.85 Mn. The global gypsum mining market is expected to grow significantly due to increasing demand from the construction industry, particularly in emerging economies of Asia Pacific and Middle East Africa. Rapid urbanization and infrastructure development are fueling the growth of construction activities in these regions.

Regional analysis: Asia Pacific dominates the global gypsum mining market and is expected to maintain its lead over the forecast period. Abundant gypsum reserves and strong growth in construction sector in China, India, Indonesia, and Vietnam are supporting the market growth. Americas and Europe hold significant shares and are expected to grow at steady pace during the forecast period.

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.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it