Global Expanded Perlite Market to Log CAGR of 7.3% from 2015-2023, Driven by High Demand in Construction Industry
The flourishing growth of the construction industry in developing countries, post-recession recovery in developed economies, and the subsequent rise in the demand for ancillary materials is expected to benefit the global expanded perlite market . These are the findings of a recent report by Transparency Market Research. The report states that the market will develop at a healthy 7.3% CAGR through the period 2015 and 2023, and rise from a valuation of US$676.7 mn in 2014 to US$1.2 bn by 2023. The market will also benefit from the rising consumption of expanded perlite in horticulture and filtration operations.The report is titled “Expanded Perlite Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023,” and is available on the company’s website for sale.
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Expanded perlite, as the name suggests, is acquired through the expansion of raw perlite. Perlite is a hard and brittle siliceous volcanic mineral that resembles glass. Expanded perlite is a non-toxic, chemically inert, and stable material with excellent electrical, thermal, and audio insulation features. The material finds primary usage in the construction industry for insulation, in the beverages industry for filtration purposes, and in the horticulture industry as a soil aggregate.
Although the market enjoys favorable growth prospects on account of the vast demand from key end-use industries, the risk of substitutes eating into the revenues of the market is one of the key restraints that is projected to hold back the market to a certain extent. Nevertheless, the emerging applications of expanded perlite in personal care products and other premium specialty products are expected to soften the impact of this threat.
For the ease of comprehension, the global market for expanded perlite has been broadly segmented on the basis of two criteria: Application and geography.
The key applications of expanded perlite examined in the report include construction products, horticulture aggregates, fillers, filtration and process aids, and other applications such as industrial products and miscellaneous consumer products. Of these, the construction industry emerged as the largest consumer of expanded perlite in 2014. The demand for expanded perlite in the horticulture industry accounted for nearly 12% of the global market in 2014.
From a geographical perspective, the expanded perlite market has been examined for Middle East and Africa, Latin America, Asia Pacific, Europe, and North America. Of these, Asia Pacific held a dominant share of over 30% in the global market in 2014 in terms of volume. Looking at the exponential growth of the construction industry, the demand for expanded perlite is projected to remain the highest in the region over the report’s forecast period.
The competitive landscape of the global expanded perlite market features the dominance of regional players across major regional markets. Some of the major vendors operating in the global expanded perlite market profiled in the report are Cornerstone Industrial Minerals Company, Imerys SA, P.V.P. Industries Inc., Aegean Perlites SA, Keltech Energies Ltd., Silbrico Corporation, and The Schundler Company.
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