The gypsum market, which is currently valued at $1.49 billion, is forecast to grow at a compound annual rate of 9.9 percent to reach nearly $2.4 billion by 2018 and $3.8 billion by 2026, according to a new report from Smithers Apex. Nearly all gypsum is used in three applications: building construction, cement (where it is used as a setting retarder) and agriculture (mostly for soil conditioner and fertilizer). In the United States, about 75 percent of the gypsum consumed is used in wallboard. The same is largely true for Western Europe.

Looking ahead, key drivers for the gypsum industry are population growth in developing countries, particularly India and China, as well as an emphasis on sustainability and recycling. For more information, visit smithersapex.com/news/2016/february/global-gypsum-market-set-for-growth.