Gypsum - Natural: Market Size & Forecast 2026

The global natural gypsum market sits at approximately USD 25.6 billion in 2025 (base year), with crude ore production running roughly 91.5 million metric tons annually across open-pit and underground operations in 40-plus countries. A structurally tight supply balance characterises the category: mature European basins face a sharp synthetic-gypsum supply contraction as coal-fired power plants retire, while construction-anchored demand in Asia-Pacific runs ahead of new mine commissioning. The reference FOB mine-gate price for crude natural gypsum sits in the USD 12-15/MT band depending on region, with calcined wallboard and plaster carrying a 4-6x conversion premium downstream. > **Analyst Take.** The call is to position for supply tightening in Europe, not to chase headline market-size estimates. The consensus CAGR in some published sources runs 5-6%, which implies the natural gypsum ma

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