The global gypsum-free plaster market is predicted to grow at an average CAGR of 3.4% and reach a valuation of US$ 4 Billion during the forecast period of 2022-2032. Heightened environmental consciousness coupled with an increasingly aware global population and shifts in consumer preference is expanding the gypsum-free plaster market.
One of the most commonly used plaster forms, gypsum-based plaster is preferred over conventional sand cement plaster. This is due to the lightweight, easy-to-apply, able to provide superior finish properties of gypsum. It also makes for a shorter turnaround time. Nevertheless, prolonged usage of gypsum has resulted in severe environmental consequences. This has fostered an environment of growth for the gypsum-free plaster market.
Rapidly evolving construction industry along with a strong emphasis on green and sustainable building will supplement market growth for gypsum-free plasters. At present, a greater part of the world’s population prefers gypsum-free plasters or similar alternatives. This boosts the sales of gypsum-free plaster products in the global market. Furthermore, the introduction of new and innovative products in the gypsum-free category is expected to fast-track the growth of the gypsum-free plaster market.
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“Growing construction activities coupled with an emphasis on green building and stringent regulatory policies will promote growth in the market over the assessment period,” says an FMI analyst.
Key Takeaways:
- The demand for green building and sustainability in construction sector will help expand the gypsum-free plaster market
- Limelite, a gypsum free product launched by Tarmac, will continue to gain traction due to its ability to battle issues of dampness, trapped moisture, and mold.
- Increasing spending on construction ensures gypsum-free plaster market growth in Canada, the U.S. and Mexico.
- The U.S spent around US$1,744,801 Mn in the construction sector in April, 2022. This is expected to boost the gypsum-free market in the region.
- Asia Pacific presents a lucrative market for gypsum-free plaster products due to evolving construction sector and stress on green building
- Emerging economies in Asia Pacific region like China and India are expected to foster market growth
Competitive Landscape
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 are a few of the key players of the gypsum-free plaster market that are profiled in the full version of the report.
Key players in the global gypsum-free plaster market are invested in introducing new and innovative gypsum-free plaster solutions into the global market. Mergers, acquisitions, partnerships, and collaborations are certain strategies that these market players engage in to gain a competitive advantage.
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More Insights into the Gypsum-free Plaster Market Report
In its latest report, FMI offers an unbiased analysis of the global gypsum-free plaster market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022-to 2032. To understand the global market potential, growth, and scope, the market is segmented based on product type (modified quick binding high strength cement, quick binding cement lute, gypsum free quick binding high strength cement, quick setting high strength cement), application (ordinary portland, white, aluminous, others) and region.
According to market insights, Asia Pacific is presenting a substantial growth in the global gypsum-free plaster market. This is primarily owing to the high demand for green building and rising construction sector in emerging economies like China and India. This is further aided by government initiatives and investments.
Increased spendings in the construction sector as well as stress on green and sustainable building are propelling gypsum-free plaster market growth in Canada, Mexico, and the U.S. Government initiatives in developing public infrastructure and changing consumer preferences are contributing factors to the market growth.
Concerns over the adverse environmental impact due to extensive use of gypsum, availability of novel gypsum free products and rapid development of building and construction sector are propelling market expansion for gypsum-free plaster.
Gypsum-free plaster market still has to overcome certain limitation to continue expanding and growing. Wide range of application provided by gypsum products and lack of easy access to gypsum-free products by developing and underdeveloped regions are challenges that the market has yet to overcome.
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