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Expanded Perlite Market size was over USD 700 million in 2015 and is expected to grow with a CAGR of more than 7% by 2024 driven by rising demand from construction industry. Rising need for infrastructure development will accelerate the pace of construction sector in future.
Expanded perlite is used in wide range of applications for construction, agriculture, filtration, etc. The product is popular due to excellent performance characteristics such as high resistance to freezing, high temperatures, micro-organisms & pests, low thermal conductivity, and superior resistance to moisture. Additionally, it is perfectly suitable as an acoustic barrier and chemically inert with stable volume.
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The COVID-19 pandemic impacted the consumer spending and consumption pattern around the world. Construction industry is among one of the highly affected industries by COVID-19 pandemic. Due to nationwide lockdowns in major countries such as India, Germany, U.S. and Middle East region resulted in the job loss owing to which construction demand in these countries slumped. Construction products is largest application segment in the expanded perlite market share, fall in construction industry growth affected overall expanded perlite demand negatively.
Pandemic impact on the overall industry for long term is uncertain in terms of the market environment, for instance, crucial geographic markets such as India may face third or fourth Covid-19 wave resulting in number of lockdowns. The introduction of vaccines and the vaccination of a significant portion of the population will create herd immunity, thus lowering the number of newly infected cases. Vaccination drives, government stimulus package, and improving economies will help in the expanded perlite market growth.
|Market Size in 2015:||700 Million (USD)|
|Forecast Period:||2016 to 2024|
|Forecast Period 2016 to 2024 CAGR:||7%|
|2024 Value Projection:||1.34 Billion (USD)|
|Historical Data for:||2013 to 2015|
|No. of Pages:||95|
|Tables, Charts & Figures:||100|
|Segments covered:||Application and Region|
|Pitfalls & Challenges:|
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Expanded perlite is used as an aggregate for gypsum plasters and Portland cement. Moreover, it has applications in chimney lining, paint texturing, curtain or partition wall and many others. Urbanization coupled with growing population, changing consumer aspirations and huge government spending will facilitate the growth of construction sector in upcoming years.
Another factor influencing business growth is favorable trends associated with horticulture sector. The product is used as a component of growing mixes where soil is not used as it offers aeration and proper moisture preservation for excellent plant growth. The product is sterile, weed-free and has neutral pH value. Additionally, it is a good carrier for fertilizer, pesticides & herbicides and pelletizing of seed. The demand for horticulture products is increasing all over the world. Many farmers are inclining towards horticulture as it provides quick returns in less time.
Expanded perlite is employed in the filtration & process aid applications in mining, water treatment processes and gas drilling activities. In oil fields, the product has usages in thermal insulation, aeration of soil and as a soil aggregate. Increasing drilling activities coupled with technological progressions will augment the expanded perlite market revenue. The product is used for filtering liquids in food & beverage and pharmaceutical industry as the product has inert nature, no taste, odor or color is imparted. It is recognized as a safe material by food safety regulatory bodies. Favorable trends associated with food & beverage industry is going to catapult the product demand in upcoming years.
The expanded perlite market share may be affected by availability of substitute materials. Various alternatives such as barite, polymeric foam and diatomaceous rock can be used instead of the product in many construction applications. However, in horticulture sector, substitutes such as vermiculite, cellulose, wood chips and peat can be used for performing various applications. These substitutes pose threat to global market and may hinder its growth within the forecast period.
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Based on application, it is classified into construction products, fillers, filtration & process aid, horticultural aggregate, and others. The construction products segment held majority of market share and accounted for more than 45% volume share in 2015. Expanded perlite’s superior insulation characteristics, light weight ability and versatility make it an attractive material for construction industry. The product is ideal for masonry fill insulation, floor systems, roof decks and other areas where insulation is required. Rising construction activities all over the world will propel the expanded perlite market growth within the forecast period.
Horticulture aggregate segment registered over USD 85 million in 2015 and is projected to grow with a 5.9% CAGR through 2024. The product is an effective horticultural growing medium which aid in improving plant growth and provides excellent yield in hydroponic farming. The perlite enhances fertilizer efficiency and promotes water drainage while ensuring suitable moisture content. The horticulture sector is characterized by high production output and supportive government policies & initiatives. The demand for fruits and vegetables produced by horticulture is rising owing to their nutritional content and health benefits. Due to increasing consumer inclination and popularity within farmers, horticulture sector exhibits positive outlook in future.
Asia Pacific expanded perlite market share was valued at over USD 200 million in 2015 and will likely grow at substantial growth rate between 2016 to 2024. This is all due to growth in construction industry. Many major construction companies are present in this region with huge customer base. Growing population, huge government spending and need for infrastructure development will boost the construction sector in near future. Such trends will trigger the product demand by 2024. Asia Pacific was closely followed by North America owing to increasing demand from oil & gas industry. Moreover, growth in horticulture sector in this region will support the expanded perlite market growth between 2016 to 2024.
The key industry players in the expanded perlite industry share include Perlite-Hellas, Midwest Perlite Inc., Keltech Energies Ltd. (KEL), Imerys SA and Silbrico Corporation. These industries are adopting various strategies to gain competitive advantage. Many companies are spending huge investments on R&D initiatives to achieve product differentiation. Some of them are expanding distribution network and increasing production capacity in order to gain strong foothold in the market.
The market is mainly driven by increasing construction activities all over the world. Increasing applications from fillers and process aid & filtration sectors will assist the market growth. Additionally, increasing demand for horticultural products will upscale the market growth over the coming years. However, market may experience adversity due to availability of substitutes.
Expanded perlite market report includes in-depth coverage of the industry, with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2013 to 2024, for the following segments:
The above information is provided on a regional and country basis for the following: