Drywall Segment to Dominate Asia Pacific Synthetic Gypsum Market during 2020-2027

According to a new market research study on “Asia Pacific Synthetic Gypsum Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast – by Type, Application, and Country,” is expected to reach US$ 308.26 million by 2027 from US$ 222.91 million in 2020. The market is estimated to grow at a CAGR of 4.7% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific synthetic gypsum market along with the drivers and restraints pertaining to the market growth. Rising demand from the construction industry and increasing usage in the agriculture industry are the major factors driving the growth of the Asia Pacific synthetic gypsum market. However, the change in preferences from coal to natural gas may hinder the growth of Asia Pacific synthetic gypsum market.

In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of synthetic gypsum manufacturing activities. Other chemical and materials manufacturing sector has subsequently impacted the demand for synthetic gypsum during the early months of 2020. Moreover, decline in the overall construction and agricultural materials manufacturing activities has led to discontinuation of synthetic gypsum manufacturing projects, thereby reducing the demand for synthetic gypsum. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

The market for Asia Pacific synthetic gypsum is segmented into type, application and country. Based on type, the market is segmented into FGD gypsum, fluorogypsum, phosphogypsum, citrogypusm and others. In 2019, the FCD gypsum segment held the largest share in Asia Pacific synthetic gypsum market. Based on application, the Asia Pacific synthetic gypsum is bifurcated drywall, soil amendment, cement, dental, water treatment and others. The cement segment is expected to be the fastest growing segment over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Asia Pacific synthetic gypsum market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for synthetic gypsum.

Drax Group PLC, USG Corporation, Larargeholcim Ltd., Travancore Titanium Products Limited, Knauf Gips KG, Transparent Tehcnologies Limited, Steag GmbH, and Boral are some of the leading companies in the Asia Pacific synthetic gypsum market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the Asia Pacific Synthetic Gypsum market as follows:

• • FGD Gypsum
  • Fluorogypsum
  • Phosphogypsum
  • Citrogypusm
  • Others

• • Drywall
  • Soil Amendment
  • Cement
  • Dental
  • Water Treatment
  • Others

• • China
  • India
  • Indonesia
  • Thailand
  • Vietnam
  • Rest of Asia