Global Expanded Perlite Market: Snapshot
The global expanded perlite market is rising steadily benefitting from the superior physical properties of expanded perlite that paves way for demand from several end-use industries. This includes building and construction, agriculture, and food and beverages among others. Expanded perlite displays capability to expand up to twenty times in volume from its original volume on being heated at very high temperatures. This property finds usability in oil well cementing, concrete floor fill, foundry cores, and crucible toppings.
Apart from this, expanded perlite finds extensive application in the building and construction sector owing to its green characteristic for energy saving pursuits.
According to Transparency Market Research, the global expanded perlite market was valued at US$1,102.0 mn in 2016 and is likely to be valued at US$1,699.4 mn by the end of 2025 clocking a moderate 4.9% CAGR therein.
Constructs Products to hold Dominance through 2025
The global expanded perlite market can be studied on the basis of application and geography. The key application segments of the global expanded perlite market are construction products, filler, horticulture aggregates, filtration and process aids, and others. Construction products application segment holds dominance in terms of consumption amongst all. As a result, the demand from construction products attracts the leading revenue over other application segments. Firstly, the light weight and superior insulation properties of expanded perlite finds application for loose-fill insulation in masonry construction. Some other advantages of expanded perlite include enhancement of fire ratings, filling cavity of concrete block, and reducing noise transmissions.
Horticulture is also emerging to be a promising application segment of expanded perlite. Rising demand for greenhouse horticulture to serve the increasing demand for quality fruits and vegetables is fueling the demand for expanded perlite for the manufacture of green roof. Not only this, the excellent water retention properties of expanded perlite that helps to provide aeration and optimum moisture retention for plant growth has helped improve crop yield. This factor is also benefitting the expanded perlite market.
Filtration and process aids application segment is anticipated to display rapid growth over other application segments over the forecast period. This is ascribed primarily to the increasing demand for expanded perlite in beer breweries. Due to the inert and non-toxic characteristic of expanded perlite, it has received safety certification from several food regulatory bodies to be used in food contact applications. Expanded perlite’s unique chemical structure performs filtration of impurities without absorbing any content.
Oil and gas industry holds promise for the growth of expanded perlite market in the near future. Expanded perlite fids application in mining, shale gas drilling activities, and provides thermal insulation in oil wells. The number of oil rigs that are expected to become 20,000 across the world by 2025 is likely to propel the market’s growth over the forecast period.
Asia Pacific to Emerge Exhibit High Growth in Future
Geography-wise, North America posted the leading consumption for expanded perlite in 2016. Powered by the U.S., the region attracted a revenue of US$279.5 mn in 2016. In the U.S., the booming oil and gas industry and increasing shale gas exploration pursuits are positively influencing the expanded perlite market. The growth in the region is also ascribed to the presence of several leading players and a robust consumer base.
However, Asia Pacific is estimated to display the leading growth rate from 2016 to 2025 due to the increasing demand from several end-use industries.
Leading players in the global expanded perlite market include Imersys SA, Supreme Perlite Company, Cornerstone Industrial Minerals Corporation, and Silbrico Corporation. Each of the companies is profiled for their key business attributes of product portfolio, financial standing, and SWOTs.