Gypsum (Natural & Synthetic FGD)

World's largest gypsum company (privately held, Knauf family) after completing the $7 billion acquisition of USG Corporation on April 24, 2019 — combining the world's second and third-largest gypsum producers. Operates gypsum wallboard plants, gypsum quarries, and industrial gypsum operations across 40+ countries. In the US, operates the former USG network including major quarries. USG's new Avery Quarry (Iosco County, Michigan), targeting 550,000 t/yr in 2025, was specifically developed to offset declining FGD synthetic gypsum supply. Knauf's product range spans wallboard, plaster, ceilings, insulation, and industrial gypsum.

Koch Industries subsidiary; holds the highest US market share in gypsum product manufacturing per IBISWorld. Operates 12 wallboard facilities in the US; opened a new $325M facility in Sweetwater, Texas in October 2023 — its first new gypsum plant since 2004. Both mines natural gypsum and processes FGD gypsum from US coal plants. Georgia-Pacific's gypsum operations compete directly with wallboard plants for the same gypsum feedstock that cement plants need, creating direct market competition during construction booms.

French multinational founded 1665; world's largest flat glass and building materials company. Operates 400+ industrial sites globally; major flat glass brands include SGG (construction glass) and Sekurit (automotive glass). Also makes high-performance materials, gypsum (Gyproc/CertainTeed), and insulation.

China's dominant domestic gypsum wallboard producer; listed on Shenzhen Stock Exchange. Subsidiary of CNBM (China National Building Material Group). Operates gypsum board plants across China using domestic gypsum deposits and synthetic FGD gypsum from Chinese coal plants. China holds the world's largest gypsum reserves (2.1 billion MT) but is primarily a domestic consumer, not a major international exporter. BNBM is a target of US anti-dumping proceedings related to drywall products.

Major US gypsum producer and wallboard manufacturer (privately held); operates 17 gypsum board plants in the US. One of six producers that collectively hold ~81% of the global wallboard market. Both mines natural gypsum and uses synthetic FGD gypsum sourced from US coal power plants. Supplies cement-grade gypsum as a byproduct of its wallboard operations to US cement mills. Headquartered in Charlotte; major operations in Texas, Alabama, New Jersey, California.

Spain's largest natural gypsum mining company; extracts 4+ million tonnes/year from four quarries in the Neogene gypsum deposits of Almería Municipality, Andalusia. Exports bulk gypsum rock via the Port of Almería to customers in Europe, Africa, and the Americas. Spain is the primary Western European natural gypsum exporter, and Torralba is the dominant producer. Supplies gypsum to cement plants in markets lacking sufficient local supply.

NYSE-listed US specialty materials company (formerly part of Trinity Industries); operates natural gypsum quarries in Oklahoma specifically supplying cement-grade and industrial gypsum. Key quarries: Alva Quarry (northwestern Oklahoma) and Watonga / Diamond Gypsum North (western Oklahoma). Oklahoma's northwest quadrant sits on the Blaine Formation — one of the densest concentrations of commercial gypsum deposits in the US. Arcosa is a primary supplier of gypsum rock to US cement mills.

Duke Energy Corporation (Charlotte NC; NYSE: DUK; ~$30B revenue; ~$80B market cap) is a major US regulated utility serving approximately 8.2 million electric customers across the Southeast and Midwest US. Duke operates ~50 GW of generation capacity including nuclear (~10 GW, 11 reactors across 3 plants), natural gas combined cycle, coal (declining), and growing renewables. Duke is the primary electricity supplier to industrial customers in the Carolinas, Florida, Indiana, Ohio, and Kentucky — a service territory that includes major industrial consumers in automotive manufacturing (BMW Spartanburg SC, Volvo Berkeley County SC), aerospace, chemicals, and data centers. Duke's industrial electricity rates (~$50-70/MWh) reflect Southeast US competitiveness. Duke has negotiated large renewable PPAs with hyperscale data centers (Microsoft, Google) expanding in North Carolina and South Carolina.