Gypsum Mining Market is Estimated to Witness High Growth Owing to Increasing Demand from Construction Industry
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29 Aug 2024 01:15:28 pm.
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The Global gypsum mining market is estimated to be valued at US$ 159.96 Bn in 2024 and is expected to exhibit a CAGR of 18.% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the gypsum mining market are Boiron, Heel, Schwabe Group, Dolisos, Nelsons, Weleda, SBL Homeopathy, Hahnemann Laboratories, Inc., Reckeweg, Helios Homeopathy, Ainsworths, Pekana, WHP (Washington Homeopathic Products), Hyland's Homeopathic, Hapé Homeopathic Pharmacy.
The key opportunities in the gypsum mining market include increasing demand from emerging economies, rising penetration in untapped regional markets and growth in consumption for industrial applications like cement, wallboard production, plaster of paris etc.
The Gypsum Mining Market Growth is expanding owing to robust infrastructure across Asia Pacific and Latin American regions. Countries like India, China, Brazil, Mexico are witnessing increased construction activities which is boosting demand for gypsum.
Market drivers
One of the major market drivers is rapid urbanization and increasing disposable incomes in developing nations. Growing middle class population is driving more residential construction which is a key end use for gypsum. Asia Pacific region in particular is expected to witness high growth in gypsum mining due to improving economic conditions.
PEST Analysis
Political: Mining regulations and environmental policies impact the exploration and extraction of gypsum. Governments aim to balance operation and protection.
Economic: The construction industry drives gypsum demand as its used to make wallboard and plaster. Growth in building construction supports the mining market during economic expansions.
Social: Gypsum mining provides jobs in rural communities. Public acceptance considers impacts on land, water, and air quality. Health and safety standards aim to protect workers and communities near operations.
Technological: Advancements in mining equipment and processing improve efficiencies and yields. Techniques like hydraulic mining extract gypsum more productively while reducing environmental footprint. Robotics and automation upgrade some tasks.
The Gypsum Mining Market Regional in terms of value is concentrated most in Asia Pacific and North America. Asia Pacific accounts for the largest share owing to extensive construction activities and growing population in China and India. In North America, the United States dominates gypsum production and demand for wallboards.
The fastest growing region for the gypsum mining market is projected to be the Middle East and Africa. Factors like rapid urbanization, infrastructure development projects especially in GCC countries, and economic growth are driving the rise in construction activities and gypsum requirements. Removal of trade barriers has made the region more conducive for investment and market expansion.
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Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. (https://www.linkedin.com/in/ravina-pandya-1a3984191)
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