Calcium aluminosilicate market is projected to expand at an appreciable rate over the forecast timeline of 2022-2028 with the growing food consumption stimulated by the ever-increasing global population. The product serves as an excellent food preservative which has impelled its adoption in packaged foods. In addition, the product finds extensive application in other verticals including cosmetics, pharmaceuticals, construction sector, animal feed, etc. which will accelerate the market growth significantly over the subsequent years.
Calcium aluminosilicate is a naturally occurring silicate clay that adsorbs toxins associated with aflatoxin-contaminated feed and is known to minimize the bioavailability of toxins in gastrointestinal tract (GI). The commercial application of calcium aluminosilicate for making absorbent for liquids and gases across various industrial procedures is expected to drive the market growth to a greater extent.
The growing consumption of dairy products around the world will also complement the business growth as the product serves as an important preservative agent. According to the International Dairy Foods Association (IDFA), the average American consumed 655 pounds of dairy product in terms of milk, yogurt, cheese, ice cream, butter, etc. in 2020.
Based on product type, the pharmaceutical segment is projected to exhibit considerable growth over the forecast period as calcium aluminosilicate finds an important application in allopathic and veterinarian medicines. It is a bentonite that is used for absorbing large amounts of protein molecules from aqueous solutions. This helps in regulating the inflammatory response in the GI tract and decreases bacterial mucolysis in animals.
With regards to the regional landscape, Asia Pacific calcium aluminosilicate market is anticipated to record a substantial growth rate over the analysis timeframe of 2022-2028 with the rising food demand driven by the rising population in the region. The mounting consumption of packaged food in the region due to changing lifestyle patterns and increasing disposable income is instigating the demand for food preservatives. This will offer lucrative growth prospects for the market over the upcoming years.
Meanwhile, North America calcium aluminosilicate market is expected to witness strong growth by the end of 2028 on account of the growing construction industry coupled with the ongoing infrastructure development activities in the region. The government bodies across various regional countries are making hefty investments in infrastructure development which will create significant growth opportunities for the market. To illustrate, in 2021, the U.S. government announced a USD 2 trillion plan to upgrade and overhaul the country’s infrastructure.
The key companies operating in calcium aluminosilicate market include Merck KGaA (E. Merck KG), MLA Group of Industries, A & Z food additives, Mitsui, Novacure Nutriscience, and Milwhite. These companies are involved in new product launches as well as strategic initiatives such as mergers & acquisitions, collaboration to gain a strong foothold in the market.
Impact of COVID-19 on calcium aluminosilicate market trend
The global outbreak of the COVID-19 pandemic has seriously impacted the overall chemical industry which has subsequently affected the outlook of calcium aluminosilicate market. With the lockdown restrictions being implemented across the globe and the temporary closure of manufacturing facilities, the product demand from various end-user sectors considerably reduced. Besides, the supply chains were also disrupted which made a severe impact on the industry statistics. However, with the gradual lifting of restrictions and restoration of business operations, the market is expected to grow steadily over the following years.