by Calcium sulphate is widely used as a hardening agent for setting and drying plaster through an exothermic reaction with water to form gypsum. Calcium sulphate plaster is used as surface coating or as fillers in many construction projects owing to its adhesive strength, ability to be molded into any desired shape, and moderate cost. The flourishing construction sector across developing nations, including India, China, and others is propelling the demand for plastering and interior finishing. According to the Global Construction 2030 report, the global construction output is expected to grow by 85% to US$ 15.5 trillion worldwide by 2030. The growing construction of residential and commercial infrastructure gives rise to higher usage of plastering materials such as calcium sulphate.
The global Calcium Sulphate Market is estimated to be valued at US$ 1.91 Billion 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:
One of the key trends driving the calcium sulphate market is its increasing application in the healthcare sector. Calcium sulphate is widely used as a bone void filler in orthopedic surgeries and dental applications owing to its osteoconductive properties that allow new bone formation. It provides an alternative to autograft and allograft bone grafts. Moreover, calcium sulphate has antibacterial properties that prevent surgical site infections. According to the American Academy of Orthopedic Surgeons, over 7 million bone grafting procedures are performed annually worldwide. The growing volume of orthopedic surgeries along with the advantages of calcium sulphate over traditional bone grafts are augmenting the demand from the healthcare sector. Another notable trend spurring market growth is the burgeoning demand for 3D printing applications. Calcium sulphate powder is increasingly used as feedstock for 3D printing processes in medical, dental, and construction applications owing to its suitable properties and affordability. This is expected to open new avenues for market players over the forecast period.
Porter’s Analysis
Threat of new entrants: Low barriers to entry due to low capital requirements help new players enter the market easily. However, established brands have strong customer loyalty and distribution networks.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, established brands provide quality products meeting stringent standards.
Bargaining power of suppliers: Suppliers have moderate bargaining power due to the availability of raw material sources. However, major players strive to sustain long-term relationships and gain steady supply.
Threat of new substitutes: Low threat due to limited substitutes available for specific industrial and construction applications of calcium sulphate. However, alternative binders pose competition.
Competitive rivalry: Intense competition among leading brands to gain market share through product innovation, pricing strategies and regional expansion plans.
Key Takeaways
The Global Calcium Sulphate Market Size is expected to witness high growth. The market size for 2023 is US$ 1.91 Bn with a CAGR of 5.3% during the forecast period of 2023 to 2030.
Regional analysis:
Asia Pacific dominates the global market attributed to high construction activities in China and India. Growing population and rapid urbanization drive the need for infrastructure and real estate development in the region. North America and Europe are other major markets owing to strong demand from the construction sector.
Key players:
Key players operating in the calcium sulphate market are Leonhard Lang, Nissha Medic, Hebei Xingtai Shuanghua Gypsum Products, Yorkshire Chemicals, Hubei Lianzhu Fengji, and Gypsum Resources. Players focus on new product developments, expansions, and mergers & acquisitions to strengthen their market presence.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
