The Expanded Perlite Market is estimated to be valued at US$ 1.51 billion in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 - 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Expanded perlite is a naturally occurring volcanic mineral formed by rapidly heating perlite rock. It has a cellular and glassy inner structure that grants products such as perlite loose fill and perlite insulation extraordinary benefits like moisture absorption, heat insulation, acoustics and lightness in weight. These properties have led to its extensive usage across construction, horticulture and industrial applications.
Market key trends:
Expanded perlite is gaining popularity across a variety of applications owing to its beneficial properties. In the construction industry, expanded perlite is widely used as a lightweight aggregate in plasters and roof deck systems owing to its insulating and waterproofing abilities. It also finds use as a soil conditioner and growth media in horticulture and agriculture due to its moisture retention and aeration. Additionally, expanded perlite is employed in industrial applications like filling cooling towers, filter aids and blast furnace linings due to its resilience to abrasion and acids & alkalis. The rising construction and infrastructure development activities as well as growth in horticulture are the major factors propelling the demand for expanded perlite over the forecast period.
Porter’s Analysis
Threat of new entrants: New companies can enter the expanded perlite market easily as there are low barriers for entry. However, established players have significant brand recognition and resources which deter new entrants.
Bargaining power of buyers: The bargaining power of buyers is moderate as there are a number of established players supplying expanded perlite. However, buyers can negotiate on price and demand quality standards from suppliers.
Bargaining power of suppliers: The suppliers of raw perlite have moderate bargaining power due to availability of raw material sources globally. However, established players have long-term relationships and agreements with suppliers.
Threat of new substitutes: Substitutes like vermiculite, pumice, and diatomite pose threat, but expanded perlite has distinct properties that make it irreplaceable for certain applications.
Competitive rivalry: The competitive rivalry is high due to presence of numerous international and regional players competing on pricing and quality.
SWOT Analysis
Strengths: High thermal insulation and acoustic properties, Durability and resistance to moisture and chemicals, Wide applications from construction to horticulture.
Weaknesses: Hampered sales during COVID-19 pandemic, Fluctuations in raw material prices affect costs.
Opportunities: Growing construction industry in developing nations, Increasing R&D on unique application development, Acquisitions and partnerships to expand geographic presence.
Threats: Stringent regulations on mining activities, Substitute threat from other advanced materials, Economic slowdowns impacting end-use markets.
Key Takeaways
The global Expanded Perlite Market Demand is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing construction activities worldwide. Regionally, North America dominated the market in 2023 with over 25% share owing to massive infrastructure development projects in the US and Canada. Emerging economies of Asia Pacific are expected to exhibit fastest growth during the analysis period with China, India, Indonesia, and Thailand being the major revenue pockets.
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. Leading companies are focusing on long term contracts, expanding production capacities, and developing innovative applications to serve the growing end-use demand.
Read more @ https://www.insightprobing.com/growing-prominence-of-expanded-perlite-market-growth-demand-and-trend/
