Global Perlite Market – Overview
Demand for perlite in various applications has been showing an upward trend. The Global Perlite Market is expected to grow at a CAGR of 6.85% and reach a valuation of USD 2,250 Mn over the forecast period of 2021-2028, asserts Market Research Future (MRFR) in a minutely analyzed research report. The Global Perlite Market stood at USD 1,512 Mn in 2020.
Robust growth in the construction industry has resonated strong growth in The Global Perlite Market size. Rise in residential construction purveyed by low-interest rates, low debt service rations, and rise in disposable income. Perlite finds application in purposes ranging from fireproofing sprays, chimney fills, to interstitial floors. It is being highly favored for such purposes owing to its outstanding insulating properties and light-weight. It also helps in the reduction of noise transmission and is vermin and termite resistant.
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Global Perlite Market – Prominent Players
Imerys Performance Additives (France), Amol Dicalite Limited (India), Genper Group (Turkey), Bergama Mining Perlite (Turkey), Supreme Perlite Company (US), Keltech Energies Ltd (India), Whittemore Company (US), The Schundler Company (US), Dupré Minerals (UK), IPM Group of Companies (Turkey), and Others.
Market Drivers and Key Barriers
Expanded Perlite is used across the globe as a component of soil-less growing mixtures since assists in moisture retention for plant growth. Its neutral pH value and the characteristics of being weed-free and sterile makes it more attractive to home gardeners and commercial growers. They are also used in greenhouse plantation.
The most diverse ranging applications for perlite is that in industrial applications. It is used as filter media for pharmaceuticals, chemicals, and food products. In the packaging industry, perlite is used for packaging of flammable materials. Other uses include abrasive in soaps, cleaners, and polishes.
The Global Perlite Market might be met by few factors which might restrict its growth over the forecast period. Adverse health effects of perlite might pose a negative impact on the growth of the Global Perlite Market. Perlite is associated with respiratory problems caused due to minute particles present in them. Perlite dust is also a nuisance as it may cause temporary physical irritation, impaired visibility, and discomfort. Meanwhile, increasing inclination towards green buildings and raising awareness regarding sustainable construction methods are expected to provide growth opportunities to the Global Perlite Market.
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Perlite Market – Segments:
The Global Perlite Market has been segmented based on Form and Application.
By Form, the Global Perlite Market has been segmented into expanded perlite and crude perlite. Expanded perlite segment is the largest as well as the fastest growing segment.
By Application, the Global Perlite Market has been segmented into Construction, Agriculture & Horticulture, Industrial, and Others. The construction segment is the leading segment and is also expected to be the fastest growing segment over the forecast period.
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Perlite Market – Regional Analysis:
North America, Europe, Asia Pacific, the Middle East & Africa, and South America are the key markets for perlite.
Asia Pacific market for perlite has the maximum growth potential and is spurred by the mushrooming of the construction as well as the agriculture & horticulture industries in the region. Rapid urbanization has led to a surge in constructional activities, especially in the economies of China, India, and Japan. Also, the governments in the region are investing heavily in infrastructural projects which consequently leads to heightened demand for perlite in the region.
North America market too has the potential to emerge as an essential market for perlite. Massive investment in infrastructural projects in the region is anticipated to boost the demand for perlite. The US is a significant market for perlite since it has one of the largest reserves of perlite.
Industry/ Innovation/ Related News:
August 20, 2019 —- Researchers from the Indian Institute of Technology (IIT-Hyderabad) have found a new technology that can convert Perlite into waterproofing material. Perlite waste, a by-product of power plants poses a threat to the environment. The new technology discovered by scientists of IIT can modify Perlite into superhydrophobic Perlite particles, a waterproofing material, by using this binding ability of stearic acid.
The newly developed material is highly cost-effective as the Perlite abundantly available, and stearic acid is also not an expensive chemical. Also, the synthesis process is so simple that even an untrained individual can prepare these superhydrophobic materials with ease.
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