LONDON--(BUSINESS WIRE)--The global synthetic gypsum market size is expected to grow by USD 319.51 million during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
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Coal-fired power plants are directly linked to the production of synthetic gypsum and the regulations involved in reducing pollution caused by these plants will drive the market for synthetic gypsum during the forecast period. Several stringent regulations have been put in place to reduce the environmental impact caused by coal plants. For instance, the Environmental Protection Agency (EPA) in the US has many emission standards and guidelines in place, such as the Clean Air Act to set emission control limits. These directives have made the adoption of flue-gas desulfurization (FGD) technology imperative for most existing and new coal-fired power plants. Thus, FGD technology is one of the most sought-after technologies to remove sulfur oxide emissions, which results in the formation of calcium sulfite. Calcium sulfite is then oxidized to form gypsum (synthetic). Thus, the tightening regulations on coal-fired power plants are anticipated to enhance the growth of the market during the forecast period.
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As per Technavio, the rising investments in R&D activities will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Synthetic Gypsum Market: Rising investments in R&D activities
Several players are focusing on R&D activities to generate new applications of synthetic gypsum. The rising demand for sustainable buildings and construction activities is encouraging the use of synthetic gypsum in the construction sector. It is also being used in other application segments such as agriculture, healthcare, and water treatment. The recycling capability of synthetic gypsum will lead to the development of new applications. All these factors will positively impact the growth of the synthetic gypsum market during the forecast period.
“Other factors such as the growing demand from emerging economies will have a significant impact on the growth of the synthetic gypsum market value during the forecast period,” says a senior analyst at Technavio.
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Synthetic Gypsum Market: Segmentation Analysis
This market research report segments the synthetic gypsum market by product (flue gas desulphurization (FGD) gypsum, phosphogypsum, and others) and geography (APAC, North America, Europe, MEA, and South America).
The APAC region led the synthetic gypsum market share in 2019, followed by North America, Europe, MEA, and South America respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to the rising number of infrastructural and constructional activities, along with the large population.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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