Market Overview:
Gypsum is a soft sulfate mineral that is processed as either a fertilizer or a construction material. It is widely used as a retardant in cement and plaster and plays a key role in manufacturing drywall, wallboard and plaster of Paris. As a building material, gypsum offers several advantages including easy workability, fire resistance and sound insulation properties. The rising construction industry has fueled the demand for gypsum and its related products globally.
The 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:
One of the major trends driving the gypsum mining market is its increasing use as a low-cost substitute for dimension stone. Gypsum is a much cheaper alternative to materials like marble and granite for decorative wall panels, furniture slabs and facades in buildings. The material can be easily molded into attractive shapes and carved into geometric or free-form designs. Its economical pricing makes it an attractive choice for commercial construction projects aiming to incorporate aesthetics on a budget. The growing substitution of gypsum for more expensive building materials is expected to propel the market growth over the forecast period.
Porter’s Analysis
Threat of new entrants: New entrants face high capital requirements for mining equipment and operations. Bargaining power of buyers: Large buyers can negotiate lower prices from suppliers given the fragmented nature of suppliers. Bargaining power of suppliers: Few large suppliers exist globally so suppliers have moderate bargaining power. Threat of new substitutes: Substitutes like cement are used however gypsum has distinct properties making it difficult to replace fully. Competitive rivalry: Intense competition exists among existing players to gain market share.
SWOT Analysis
Strengths: Wide applications in construction like drywall and plaster increases demand. Abundant gypsum reserves exist globally.
Weaknesses: Highly regulated mining activities impact profits. Subject to volatility in raw material prices.
Opportunities: Rising construction in developing nations due to urbanization boosts market. New applications in agriculture offer scope.
Threats: Stringent environmental norms can raise compliance costs. Substitutes can erode market share if price competitive.
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 construction activities worldwide. The Asia Pacific region currently dominates the market and is estimated to maintain its dominance during the forecast period, with China, India, and Indonesia being the major markets.
Regional analysis Fastest growing regional market is Asia Pacific due increasing infrastructure development in China and India as well as presence of major mining reserves. North America and Europe are also significant markets driven by reviving construction industry.
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. Major players are investing in capacity expansion as well as acquisitions for business growth.
For More Insights, Read: https://www.newswirestats.com/gypsum-mining-market-demand-growth-and-regional-outlook-by-2030/
TheBusinessResearchCompany published its Gypsum Mining Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global gypsum mining market.
The report covers the gypsum mining market’s segments- gypsum - construction, agricultural gypsum, others - gypsum.Explore Complete Report https://www.thebusinessresearchcompany.com/report/gypsum-mining-global-market-reportGypsum Mining Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
The major regions included in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.The gypsum mining market consists of sales of gypsum and its compounds by entities (organizations, sole traders and partnerships) that mine gypsum and its compounds which are used in the produce of wallboard, cement, plaster of Paris, soil conditioning, and as a hardening retarder in Portland cement.
Major players in the global gypsum mining market include USG, Beijing New Building Materials Public Limited Company, Knauf, Boral, St Gobain.
