The global demand for gypsum-free plaster is anticipated to rise at a moderate CAGR of around 3.4% during the forecast period between 2022 and 2032, totaling nearly USD 4 Billion by the end of 2032.
Rising environmental concerns coupled with growing consumer preference towards using gypsum-free plaster is a major force behind the robust expansion of gypsum-free plaster market.
| Report Attribute | Details |
|---|---|
| Gypsum-free Plaster Market Estimated Growth Rate (2022 to 2032) | 3.4% CAGR |
| Gypsum-free Plaster Market Projected Size (2032) | USD 4 billion |
There is no doubt that gypsum has become one of the most commonly used forms of plaster across the world. It is preferred over conventional sand cement plaster on account of its easy applicability, light weight, quicker turnaround time, and superior finish.
However, extensive usage of gypsum has caused some serious environmental issues, thereby prompting manufacturers to look for alternative plasters with highly efficient and ecofriendly features. This has brought gypsum-free plaster market into the limelight.
Today, a large portion of the world population prefers to use gypsum-free plaster and other alternative variants. Rapid expansion of building and construction industry coupled with growing emphasis on green building is likely to boost the growth of gypsum-free plaster market during the forecast period.
Similarly, introduction of novel products in the gypsum-free plaster category is likely to expand the global gypsum-free plaster market size during the forthcoming years.
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Rising investments in building and construction activities, growing trend of green building, and continuous new product launches are some of the major factors driving growth in the global gypsum-free plaster market.
Similarly, increasing investments in R&D and presence of a stringent regulatory framework are expected to push the demand for gypsum-free plaster during the forecast period.
Gypsum-free plasters have become ideal alternatives to gypsum due to their highly efficient and ecofriendly nature. They are being used by builders and contractors during construction activities. Thus, rapid growth of building and construction industry will eventually create lucrative growth prospects within the global gypsum-free plaster market during the forecast period.
Similarly, growing concerns regarding the negative environmental impact of gypsum due to extensive CO2 emission and high energy consumption during manufacturing is prompting both manufacturers and end users to shift their preference towards gypsum-free plasters. This will bode well for market growth.
Leading companies like Tarmac are continuously launching new innovative gypsum-free plaster ranges to cater to the rising demands. Gypsum-free products like Limelite, launched by Tarmac are gaining wider popularity due to their ability to combat frequent challenges of damp, mold, and trapped moisture.
Although gypsum-free plaster is gradually becoming popular, there are certain factors that are limiting the growth of gypsum-free plaster market. Some of these factors include increasing usage of gypsum for numerous applications and low availability of gypsum-free plaster across various developing and underdeveloped regions.
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As per FMI, Asia Pacific gypsum-free plaster market is expected to grow at a relatively higher CAGR during the forecast period, owing to the rapidly expanding building and construction industry, favorable government support, growing focusing green building, and increase in the number of gypsum-free plaster manufacturers.
Over the years, there has been robust expansion of construction sector across fast growing countries like China and India due to economic growth, increasing government initiatives and investments, and a strong focus on modernization. This rise in construction industry is creating space for gypsum-free plaster market growth in the region.
Similarly, rising awareness among people about the benefits of using gypsum-free plaster over gypsum will further create opportunities for gypsum-free plaster manufacturers in Asia pacific.
Factors such as rapid expansion of building and construction industry, increasing government investments in developing public infrastructure, and changing consumer preference towards using gypsum-free plaster are pushing demand for gypsum-free plaster across the North America.
Gypsum-free plaster markets of Canada, Mexico, and the USA are witnessing substantial growth due to increasing spending on construction and increasing trend of green building.
According to the United States Census Bureau, construction spending in the USA totaled around USD 1,744,801 million in April 2022. This in turn is creating a conducive environment for gypsum-free plaster market growth in the region.
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Some of the leading gypsum-free plaster manufacturers include Tarmac, Knauf AG, Global Mining company, Yoshino Gypsum Co. Ltd., Jonoub Gypsum, Saint Gobain, American Gypsum, Georgia Pacific, Zawami Minerals Co., and Gypsona among others.
These key players are constantly focusing on introducing novel gypsum-free plaster solutions with efficient features. Besides this, they are adopting various organic and inorganic strategies such as mergers, acquisitions, collaborations etc. to expand their global footprint.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 3.4% from 2022 to 2032 |
| Projected Market Size (2032) | ~USD 4 billion |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Type, Application, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled |
Tarmac; Knauf AG; Jonoub Gypsum; Yoshino Gypsum Co. Ltd.; Georgia Pacific; Global Mining company; American Gypsum; Saint Gobain; Zawami Minerals Co.; Rajasthan State Mines; AI Jood Natural Resources; Vinayak Gypsum; Arcosa Specialty Chemicals; Gypsona; Boero USA |
| Customization | Available Upon Request |
The global gypsum-free plaster market is anticipated to grow at around 3.4% CAGR during the forecast period.
As per FMI, gypsum-free plaster market is projected to touch a valuation of around USD 4 Billion by 2032.
Asia Pacific is likely to emerge as the most lucrative market for gypsum-free plaster during the forecast period.
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Gypsum-free Plaster Market
