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Released May 23, 2024 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Despite headwinds from higher interest rates, the global construction market continues to grow. With countries like China, India and the U.K. leading the way, the construction industry is projected to grow by more than US$4.2 trillion by 2038, according to Oxford Economics. Gypsum, a versatile soft mineral widely used in construction, agriculture, industry and art, plays an important role in this global development.
Gypsum serves as a key component for drywall and plaster production, and it offers environmental benefits when used as a fertilizer and/or for soil remediation. Some of its other applications include dental impressions, dinnerware molds, toothpaste, shampoo and various pharmaceutical products.
Industrial Info is tracking 141 active capital-spending projects, totaling more than US$7 billion of investment value, related to the development of gypsum globally. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for a list of detailed project reports and click here for a list of related plant profiles.
Asia is driving the highest spending with almost US$5 billion, with a market share of 69%. By country, Saudi Arabia is driving the highest investment with US$4 billion. Saudi Arabia possesses high-quality gypsum reserves, making it a valuable resource for domestic use and exports, as well as diversifying its economy away from oil dependence.
Saudi Vision 2030 is further fueling the infrastructure development, housing projects, and commercial construction, leading to a growing demand for gypsum products. Saudi Arabia also faces water shortage, which further challenges agriculture and well-being of people. Gypsum, used extensively for water treatment, poses as an optimum solution. Some of the other countries with a significant spend pipeline include the U.S., China, Canada, Spain, U.K., Oman and Chile.
Key players in the market are Saudi Arabian Mining Company (Riyadh, Saudi Arabia), Knauf Group (Iphofen, Germany) and Saint-Gobain Group (Courbevoie, France), with a cumulative spending of more than US$5 billion. As the leading investor, Saudi Arabian Mining Company is planning to add a phosphogypsum recycling unit in Ras Al Zour, with a production capacity which is yet to be determined. This project is scheduled to kick off in December 2024 and to be completed by June 2026. Subscribers can learn more from a detailed project report and plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Gypsum serves as a key component for drywall and plaster production, and it offers environmental benefits when used as a fertilizer and/or for soil remediation. Some of its other applications include dental impressions, dinnerware molds, toothpaste, shampoo and various pharmaceutical products.
Industrial Info is tracking 141 active capital-spending projects, totaling more than US$7 billion of investment value, related to the development of gypsum globally. Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for a list of detailed project reports and click here for a list of related plant profiles.
Asia is driving the highest spending with almost US$5 billion, with a market share of 69%. By country, Saudi Arabia is driving the highest investment with US$4 billion. Saudi Arabia possesses high-quality gypsum reserves, making it a valuable resource for domestic use and exports, as well as diversifying its economy away from oil dependence.
Saudi Vision 2030 is further fueling the infrastructure development, housing projects, and commercial construction, leading to a growing demand for gypsum products. Saudi Arabia also faces water shortage, which further challenges agriculture and well-being of people. Gypsum, used extensively for water treatment, poses as an optimum solution. Some of the other countries with a significant spend pipeline include the U.S., China, Canada, Spain, U.K., Oman and Chile.
Key players in the market are Saudi Arabian Mining Company (Riyadh, Saudi Arabia), Knauf Group (Iphofen, Germany) and Saint-Gobain Group (Courbevoie, France), with a cumulative spending of more than US$5 billion. As the leading investor, Saudi Arabian Mining Company is planning to add a phosphogypsum recycling unit in Ras Al Zour, with a production capacity which is yet to be determined. This project is scheduled to kick off in December 2024 and to be completed by June 2026. Subscribers can learn more from a detailed project report and plant profile.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
