Expanded Perlite Market Size By Application (Construction Products, Fillers, Filtration & Process Aid, Horticultural Aggregate), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2016 – 2024
Published Date: Nov 2016 | Report ID: GMI829 | Authors: Kiran Pulidindi, Hemant Pandey
Expanded Perlite Market size was over USD 700 million in 2015 and is expected to grow with a CAGR more than 7% by 2024.
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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. These factors will support the growth of market in near future.
The expanded perlite market will be driven by rising demand from construction industry. It is applied in light weight plasters & mortars, ceiling tiles, insulation and as filter aids. 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. Rising need of infrastructure development will accelerate the pace of construction industry in future. These aforementioned trends will boost the product demand during the forecast time span.
Another factor influencing the market 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 pelletising of seed. The demand of horticulture products is increasing all over the world. Many farmers are inclining towards horticulture as it provides quick returns in less time. These trends will spur the market growth between 2016 to 2024.
Expanded perlite is employed in 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 market growth. 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.
|Base Year:||2015||Market Size in 2015:||700 Million (USD)|
|Historical Data for:||2013 to 2015||Forecast Period:||2016 to 2024|
|Forecast Period 2016 to 2024 CAGR:||7%||2024 Value Projection:||1.34 Billion (USD)|
|Pages:||95||Tables, Charts & Figures:||100|
|Geographies covered (17):||U.S., Canada, Germany, UK, France, Spain, Italy, China, India, Japan, Australia, Indonesia, Malaysia, Brazil, Mexico, South Africa, GCC|
|Segments covered:||Application and Region|
|Companies covered (10):||Perlite-Hellas, Keltech Energies Ltd. (KEL), Aegean Perlites SA, Imerys SA (Imerys), Supreme Perlite Company, Midwest Perlite Inc., Cornerstone Industrial Minerals Corporation, The Schundler Company, Silbrico Corporation, Perlite Vermiculite Packaging Industries Inc. (PVP)|
|Pitfalls & Challenges:||
Expanded Perlite Market, By Application
Based on application, the market 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 makes 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 market growth within the forecast period.
Horticulture aggregate segment registered over USD 85 million in 2015 and displays promising growth trends in future. 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 promote water drainage while ensuring suitable moisture content. The horticulture sector is characterized by high production output and supportive government policies & initiatives. The demand of 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. This in turn will augment the market growth by 2024.
Analysis By Region
Asia Pacific expanded perlite market share was valued over USD 200 million in 2015 and will likely grow at substantial growth rate between 2016 to 2024. This is all due to positive 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, positive growth in horticulture sector in this region will support the market growth between 2016 to 2024.
Competitive Market Share
The key industry players in the expanded perlite market 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 for 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 of horticultural products will upscale the market growth over the coming years. However, market may experience adversity due to availability of substitutes.
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