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Calcium sulphate, also known as gypsum, is a soft sulfate mineral that is widely used as a building material. Calcium sulphate helps in providing durability to building components such as walls, ceilings and partitions due to its fire resistant and sound insulating properties. It is used in manufacturing of plaster of Paris and plays a crucial role in construction of buildings and infrastructure projects. Rising investments in commercial and residential construction activities across both developed and developing economies are boosting the demand for calcium sulphate. 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 6.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Opportunity The opportunity for calcium sulphate lies in the growing construction industry. Rapid urbanization and infrastructural growth are expected to drive the demand for buildings and infrastructure development globally. According to the United Nations, the urban population of the world is projected to grow by 60% between 2018 and 2030. This rise in urbanization will necessitate construction of residential, commercial and public buildings requiring significant consumption of gypsum and derivatives like plaster of Paris. Moreover, initiatives by various governments towards development of smart cities and improving overall infrastructure will generate further opportunity for calcium sulphate market over the forecast period. Porter’s Analysis Threat of new entrants: The calcium sulphate market requires high initial investments in manufacturing facilities and R&D which acts as a barrier for new players. Established brands have strong customer loyalty which further deters new players. Bargaining power of buyers: The global calcium sulphate market has numerous buyers owing to its wide applications. However, buyers have limited bargaining power due to availability of substitutes and differentiated products offered by major established brands. Bargaining power of suppliers: Major suppliers enjoy bargaining power due to their technological expertise and domination in mineral mining. However, easy availability of raw materials from different sources ensures balanced pricing. Threat of new substitutes: Alternatives like plaster of Paris offer competition but limited use diminishes threat. Calcium sulphate continues to be one of the cheapest and versatile substitutes. Competitive rivalry: Intense competition exists between major brands regarding pricing, product innovation and expanding into new applications. SWOT Analysis Strengths: Wide applications, cost-effectiveness, easy availability. Weaknesses: Threat from substitutes, exposure to raw material price volatility. Opportunities: Emerging applications in construction, healthcare, new product launches. Threats: Stringent regulations, intense competition, vulnerability to economic cycles. Key Takeaways The global calcium sulphate market scope is expected to witness high growth aided by rising construction activities worldwide between 2023-2030. The Asia Pacific region dominates the market with China, India and Japan being the major consumers. Regional analysis of Asia Pacific: The Asia Pacific calcium sulphate market will continue dominating with a size of over US$ 900 Mn by 2030, growing at 7% yearly. China leads demand owing to the huge construction industry while India will witness fastest growth on rising infrastructure development. Other countries like Japan, South Korea and ASEAN nations will sustain healthy growth. Key players operating in the calcium sulphate market are Samsung, Apple Inc., Microsoft Corporation, Mozo Accessories, iLuv Creative Technology, Energizer, Case-mate, and Muvit. Key players are focusing on new product development, strategic collaborations and market expansion in developing economies to strengthen their foothold. Get more insights on this topic: https://www.trendingwebwire.com/calcium-sulphate-market-industry-insights-trendscalcium-sulphate-market-2023-2030/
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