by Gypsum is a soft sulfate mineral composed of calcium sulfate dihydrate, with the chemical formula CaSO4•2H2O. It is widely used as a construction material for walls and ceilings. Gypsum powder is mixed with water to form a slurry which can be easily molded to make affordable constructions. Gypsum products are fire-resistant and provide good insulation which makes them suitable for walls, ceilings and other construction applications. The global construction industry has been witnessing significant growth over the past few years with the increasing urban population and residential construction activities in developing nations. This rising demand from the construction sector has been the primary driver of the gypsum mining market.
The Global gypsum mining market is estimated to be valued at US$ 159.96 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period from 2024 to 2031.
Key Takeaways
Key players operating in the gypsum mining are Boiron, Heel, Schwabe Group, Dolisos, Nelsons, Weleda, SBL Homeopathy, Hahnemann Laboratories, Inc., Reckeweg, Helios Homeopathy, Ainsworths, Pekana, WHP (Washington Homeopathic Products), Hyland’s Homeopathic, Hapè Homeopathic Pharmacy. With the rising construction activities, the demand for gypsum has increased significantly globally. The major players in the market are focusing on expansion plans and capacity enhancement to cater to the growing requirements. With high growth opportunities, many regional players are entering the gypsum mining market.
The growing construction industry has led to a substantial rise in the Gypsum Mining Market Growth globally. Emerging nations in Asia Pacific and Africa are witnessing a boom in the construction of residential and commercial infrastructure which has augmented the consumption of gypsum. The residential construction has picked up pace in densely populated countries owing to rapid urbanization.
Rising incomes and changing lifestyles are also driving the demand for new residential construction. The commercial construction has gained momentum with growth in service sector activities. As a result, the gypsum mining companies are expanding their production capacities and global footprint to leverage the worldwide opportunities. Several new plants are being commissioned or expansion plans are underway across major markets to ensure adequate supply.
Market Key Trends
The increasing popularity of plasterboards is a key trend in the gypsum mining market. Plasterboards have emerged as a preferable building material compared to traditional plaster due to advantages like ease of installation and improved strength. They require minimal maintenance and last longer than wall plaster. With growth in renovation and remodeling activities, the demand for plasterboards is rising substantially. The gypsum mining companies are innovating new product varieties and value-added plasterboard solutions to cash in on the market demand.
Porter’s Analysis
Threat of new entrants: Low startup costs and availability of resources allows new players to enter the market easily. However, established players have economies of scale which deter entry of new players.
Bargaining power of buyers: Buyers have moderate bargaining power given the availability of substitutes. Large buyers can negotiate prices but have less influence over smaller buyers.
Bargaining power of suppliers: Mining companies have significant bargaining power over suppliers due to the oligopolistic nature of the industry and availability of mineral deposits globally.
Threat of new substitutes: Substitutes like plasterboards pose a threat, although gypsum has distinct advantages like fire resistance and workability.
Competitive rivalry: Intense competition exists among major players to gain market share and profitability. Players differentiation and branding influence rivalry.
Geographical Regions
North America accounts for the largest share of the Gypsum Mining Market Regional in terms of value due to high demand from the construction industry in countries like the US and Canada.
The Asia Pacific region is expected to grow at the fastest rate during the forecast period. This is attributed to rising urbanization and infrastructure development activities in densely populated countries including China and India.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author - Ravina Pandya
Ravina Pandya,a content writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemicals and materials, etc. With an MBA in E-commerce, she has expertise in SEO-optimized content that resonates with industry professionals. LinkedIn Profile
