Global Calcium Sulphate Market Is Estimated To Witness High Growth Owing To Increasing Demand from Construction and Agriculture Industries
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 widely used industrial material with diverse applications. It finds major utilization in the construction industry for the production of plaster and drywall. Calcium sulphate is also extensively utilized in agriculture for soil conditioning and as a calcium supplement in fertilizers. The ability of calcium sulphate to improve soil structure and enhance water retention is driving its adoption in the agricultural sector. Moreover, the increasing focus on sustainable construction practices and the growing importance of gypsum-based products in the building and construction industry are further boosting the demand for calcium sulphate.
Market Dynamics:
The Calcium Sulphate market is driven by two main factors. Firstly, the rapid growth of the construction industry, particularly in emerging economies, is fueling the demand for calcium sulphate. The increasing investments in infrastructure development, coupled with the rising demand for eco-friendly construction materials, are expected to drive market growth. Secondly, the growing adoption of calcium sulphate in the agriculture sector is a significant factor contributing to market expansion. The use of calcium sulphate helps in improving soil quality and increasing crop yield, thereby driving its demand in the agricultural industry.
SWOT Analysis:
Strength:
- Global Calcium Sulphate Market has a strong demand due to its wide range of applications in construction, pharmaceuticals, and agriculture industries.
- It is a cost-effective and readily available material, making it preferred by manufacturers.
- Calcium Sulphate is also known for its fire-resistant properties, which increases its demand in the construction sector.
Weakness:
- Calcium Sulphate has limited usage in certain industries as it may cause allergies in some individuals.
- The market faces intense competition from alternative materials such as gypsum and lime.
- Some potential users are not fully aware of the benefits and applications of Calcium Sulphate, which limits its market growth.
Opportunity:
- Increasing construction activities in emerging economies provide significant growth opportunities for the Calcium Sulphate market.
- The growing demand for organic fertilizers in agriculture is expected to boost the market growth, as Calcium Sulphate is widely used as a soil conditioner and nutrient supplement.
Threats:
- Fluctuations in raw material prices can impact the profit margins of Calcium Sulphate manufacturers.
- Environmental regulations and concerns regarding the extraction and disposal of Calcium Sulphate by-products may pose a threat to the market.
Key Takeaways:
The global Calcium Sulphate market is expected to witness high growth, exhibiting a CAGR of 5.9% over the forecast period (2023-2030). This growth can be attributed to the increasing construction activities and the demand for organic fertilizers. Asia Pacific region is the fastest-growing and dominating region in the Calcium Sulphate market, driven by rapid urbanization and infrastructure development in countries like India and China.
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 companies have a strong market presence and focus on product innovation to gain a competitive edge in the industry.
Read More: https://www.feedsfloor.com/market-research/calcium-sulphate-market-reach-us-191-billion-2023
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