Perlite Expansion: Market Dynamics and Growth Prospects

Posted 2023-11-03 12:30:30

According to the new market research report "Perlite Market by Form (Expanded Perlite and Crude Perlite), Application (Construction, Agriculture & Horticulture, and Industrial), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2025", published by MarketsandMarkets™, the global Perlite Market size is expected to grow from USD 1.6 billion in 2020 to USD 2.0 billion by 2025, at a CAGR of 7.0% during the forecast period. Perlite is used across applications, such as construction, horticulture & agriculture; industrial is the key end-use industry owing to the wide applications of this perlite.

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Perlite Market Dynamics

Driver: Robust growth in the building & construction industry in developing countries
Restraint: Restrictions on the use of refractories due to growing environmental concerns
Opportunity: Investment in R&D activities
Challenges: Hazardous effects of perlite

The industrial is expected to register the highest CAGR in the global perlite market during the forecast period.

Perlite has various beneficial properties; it is non-toxic, fireproof, and lightweight in nature. It is available in different sizes and can be expanded to the preferred volume according to the application areas. It can also hold numerous liquids such as chemical mixtures, oil, and water. These properties have increased the demand of perlite in various industrial applications such as abrasives, well cement, plastic fillers, and cryogenic tanks. The industrial segment is the fastest segment of the global perlite market with a CAGR of 8.0%, in terms of value.

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APAC is expected to hold the largest market share in the global perlite market during the forecast period.

Asia Pacific accounted for the largest share of the Perlite market in 2020. Factors such as the rapidly increasing consumption of perlite in the intimate apparels and sportswear industries in countries such as China, Japan, India, South Korea, and Australia have led to an increased demand for Perlite in the Asia Pacific region.

Imerys Minerals (UK), Keltech Energies (India), Dupré Minerals (England), Amol Dicalite (India), and other players are the leading perlite manufacturers globally.

Recent Developments

In October 2020, IMCD US and IMERYS Minerals expanded their distribution agreement. IMCD will now represent IMERYS Performance Minerals as its preferred distributor across the U.S. and Canada.
In June 2020, IMERYS Performance Minerals acquires Cornerstone Industrial Minerals Corp. The acquisition was done to strengthen its offering in the agriculture and horticulture markets.