Perlite Market
The perlite market is poised to grow at a CAGR of approximately 6.85% over the forecast period of 2021–2028. The Perlite Market stood at USD 1,512 Mn in 2020 and is slated to reach a valuation of USD 2,250 Mn by the end of 2028.
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.
Robust growth in the construction industry has resonated strong growth in The Perlite Market. 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.
Competitive Landscape:
Dupré Minerals (UK), Imerys Performance Additives (France), Supreme Perlite Company (US), IPM Group of Companies (Turkey), Genper Group (Turkey), The Schundler Company (US), Amol Dicalite Limited (India), Keltech Energies Ltd (India), Bergama Mining Perlite (Turkey), and Whittemore Company (US) are the eminent players in the Global Perlite Market.
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.
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.
Segmentation:
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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