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| Expanded Perlite Market |
The expanded perlite market is estimated to be valued at US$ 1.51 Bn or Mn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Expanded perlite is a volcanic rock that contains water. When heated rapidly,
the water trapped in the rock vaporizes, causing the rock to expand up to 20
times its original volume. This creates a lightweight expanded material that
works as an insulator, soil additive and filtration medium. Some key uses of
expanded perlite include horticulture, construction, filtration and others. In
horticulture, it is used as a soil amendment or aggregate in potting mixes due
to its ability to retain water and provide aeration. In construction, it is
used as an additive in plasters and insulation in buildings.
Market Dynamics:
The expanded perlite market is expected to grow at a rapid pace due to its wide
range of applications across various end-use industries. Firstly, the growing
construction industry globally is expected to boost market growth during the
forecast period. Expanded perlite finds significant usage in the construction
sector as an additive in plasters and insulation material in walls, roofs and
other areas, owing to its heat insulating and lightweight properties. Secondly,
the rising demand from the horticulture industry is also contributing to market
expansion. Expanded perlite is widely used in soil-less potting mixes and
garden beds to improve the aeration, drainage and moisture retention capacity
of soil. The growth of urban gardening and vertical farming is further driving
its demand from the horticulture sector.
SWOT Analysis
Strength: Expanded perlite has high insulation properties which helps in
temperature regulation. It is affordable and readily available natural mineral.
Expanded perlite is lightweight and has low thermal conductivity which makes it
suitable for various applications.
Weakness: Raw perlite needs to be processed and heated at high temperature to
obtain expanded perlite which increases production costs. Transportation of
expanded perlite over long distances further increases costs. Expanded perlite
is not strong and has low crushing strength.
Opportunity: Rising construction activities in emerging economies of Asia
Pacific and Middle East & Africa is creating high demand for insulating and
filling materials like expanded perlite. Growing horticulture industry is also
driving the use of expanded perlite as a plant growing medium.
Threats: Stringent environment regulations regarding disposal of perlite dust
generated during production. Substitute products like vermiculite, rockwool and
fiberglass posing competition in insulation applications.
Key Takeaways
The global Expanded
Perlite Market Share is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period,
due to increasing construction activities across both commercial and
residential sector. Rapid urbanization is leading to more infrastructure
development projects which boost the consumption of expanded perlite as
insulation material in construction industry.
Asia Pacific dominates the global expanded perlite market and is expected to
maintain its lead over the forecast period. Growing population and economic
growth in China and India is driving extensive construction of homes, malls,
factories which significantly drives the use of expanded perlite in building
insulation. Europe and North America are other major consumers for construction
and horticulture applications.
Key players operating in the expanded perlite market are Imerys SA, Termolita
S.A., Aegean Perlites SA, Perlite Hellas, Cornerstone Industrial Minerals, The
Schundler Company, Gulf Perlite LLC, Keltech Energies Ltd., Silbrico
Corporation, Perlitsan, Blue Pacific Minerals, Dupré Minerals Limited, Midwest
Perlite Inc., Hess Perlite, Dicalite Management Group, Perlite Vermiculite
Packaging Industries, Pratley Perlite Mining Co (Pty) Ltd., Brasil Minérios,
Perlit-92 Kft, Cevahir Perlit Madencilik. These players are focusing on
capacity expansion and new product launches to strengthen their global
presence.
Read More,
https://www.trendingwebwire.com/expanded-perlite-market-trends-size-and-share-analysis/
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