by Calcium Sulphate, commonly known as Plaster of Paris, is an inorganic salt with a chemical formula of CaSO4∙1⁄2H2O. It is used as a raw material for manufacturing plaster boards and casts. Being lightweight, durable and fire-resistant, plaster boards are extensively used in construction for walls and ceilings. With rising infrastructure development and remodeling of households worldwide, the demand for construction materials has surged tremendously.
The global Calcium Sulphate Market is estimated to be valued at US$ 1.91 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing demand from the construction industry has been a key growth driver for the calcium sulphate market. Plasterboards and casts made using calcium sulphate are an integral part of modern construction activities. As per forecasts, the global construction industry is expected to grow at over 4% annually through 2030. This strong growth in construction will translate to higher consumption of plaster boards and related construction materials. The calcium sulphate market is expected to leverage the growth momentum in the building industry to deliver steady gains over the next decade.
SWOT Analysis
Strength: Calcium sulphate offers good workability and setting properties to plaster and cement applications. It exhibits high strength to weight ratio.
Weakness: Fluctuating prices of raw materials used for manufacturing calcium sulphate can impact its profitability. Its setting time is relatively slow.
Opportunity: Rising construction activities in developing nations boosts the demand for plastering and cement concrete applications using calcium sulphate. Emerging end-use industries like paints and coatings present new growth areas.
Threats: Strict environmental regulations on mining and production processes pose challenges. Substitute materials like calcium chloride can limit its market potential.
Key Takeaways
Global Calcium Sulphate Market Size is expected to witness high growth.
Regional analysis: The Asia Pacific calcium sulphate market is projected to be the fastest growing as well as the largest market during the forecast period. Abundant availability of raw materials and rapid infrastructural developments in India and China are driving the regional demand. North America and Europe are also significant markets, wherein renovation of old buildings spurs the product consumption.
Key players related content comprises Key players operating in the calcium sulphate market are Leonhard Lang, Nissha Medic.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
