Key Highlights of Global Expanded Perlite Market
- The global expanded perlite market was valued at US$ 1,155.47 Mn in 2018 and is anticipated to expand at a CAGR of 5.0% during the forecast period
- Perlite is manufactured from the hydration process of the obsidian. It is an amorphous volcanic glass whose water content which is high. In the wake of preparing and processing of the perlite expanded perlite are acquired.
- Amid the extension procedure, the water atoms are discharged which brings down its weight and thickness. Expanded perlite has remarkable protection properties which is boosting its applications across numerous applications and is likely to propel growth of the global expanded perlite market.
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Key Drivers of Global Expanded Perlite Market
- The key factor driving growth of the global expanded perlite market is the wide increment in the research development activities globally, and particularly in the developing nations.
- Additionally, growing interest for the subordinate materials, which has expanded demand, and interest for the expanded perlite products owing to its benefits the product is boosting its consumption. This factor is likely to reflect positively on the growth of the global expanded perlite market.
- The other factor aiding the growth of market is the growing adoption of the advanced agriculture exercises, which is encouraging utilization of expanded perlite. Widening application of the expanded perlite due to its water maintenance and treatment properties is also benefiting growth of the global expanded perlite market.
- These applications are helping to account a substantial share in the global revenue of expanded perlite market.
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Rise in Usage of Expanded Perlite as Absorbent to Boost Opportunities for Global Expanded Perlite Market
- Expanded Perlite has high absorption property due to the formation of cavities formed while expanding perlite by subjecting it to high temperature.
- It is often mixed with soil in order to filter stormwater runoff as well as solidify industrial sludge as it can efficiently absorb large amount of water without adding more volume to the sludge post absorption.
- Various drivers have bolstered the utilization of expanded perlite in water quality management. Moreover, water treatment end-use industry segment is predicted for exponential growth in the expanded perlite market and the global expanded perlite market is expected to grow at a modest CAGR during the forecast period. Thus, the concept of storm water filtration is acquiring popularity in the market for expanded perlite. Likewise, special attributes of expanded perlite are benefitting stakeholders in order to carry out storm water filtration. This is evident since expanded type segment accounts for the larger share of the expanded perlite market as compared to unexpanded/crude segment.
- High surface area, neutral pH, and porous surface texture of expanded perlite have made it a preferred choice among stakeholders opting for storm water filtration. Likewise, the Washington State Dept. of Transportation have developed roadside media filter drains that incorporate horticulture-grade perlite, and agricultural gypsum held in place by crushed rocks to filter suspended solids and other pollutants from roadway runoff.
Wide Accessibility of a Substitute Items to Hamper Global Expanded Perlite Market
- One of the key application of expanded perlite is in the brew business, where in it is used for sound sealing applications and warm application. However, the materials such as diatomaceous shake, barite, and polymeric froths are the major substitutes of perlite hampering the market growth in this industry.
- Wide accessibility of a substitute items is a main consideration expected to limitation growth of the worldwide perlite market. In addition, stringent adherence for utilization of perlite by government in development division is another factor expected to hamper development.
North America to Provide Lucrative Opportunities in Global Expanded Perlite Market
- There is a higher emphasis on green building, energy saving, and superior construction products due to the varying climatic conditions in the North America. Expanded perlite is a preferred material in green buildings, as it reduces energy consumption for heating and cooling.
- The U.S. is among the top five producers of perlite and expanded perlite. The market size of the U.S. is more than four times that of Canada. Most perlite production is concentrated in the U.S. It has eight perlite mines spread across the West and mid-West region and more than 47 expanders located across the U.S.
- Demand for expanded perlite is high in the construction sector primarily due to the reviving residential housing sector in the U.S., post the 2008 recession.
- Major industry players including Aegean Perlites SA and Perlite-Hellas are engaged in backward integration during crude perlite mining in the North American region.
Prominent Players Opting for Continuous Expansion in the Expanded Perlite Market
- The key players in the global expanded perlite market are Supreme Perlite Company, Silbrico Corporation, Imerys SA, and Cornerstone Industrial Minerals Corporation.
- The prominent players are consistently looking to expand their production capacity through mergers and acquisitions (MA) or joint ventures. These strategies are benefiting to maintain strong position in the market and to sustain in the near future. However, growing number of new entrants in the expanded perlite market is expected to create threat for existing players.
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