Perlite Market Analysis By Application (Construction Products, Horticultural & Agricultural, Industrial, Filtration & Process Aid), By Region, And Segment Forecasts, 2014 - 2025
The global perlite market is anticipated to reach USD 1,591.4 million by 2025, according to a new report by Grand View Research, Inc. The advantages offered by perlite in construction applications include increased mechanical strength, lightweight, and weather-resistant finish. These advantages are anticipated to boost industry growth over the forecast period.
Growing urbanization and increasing industrialization has led to a rise in demand for perlite in construction sector. Increasing participation to sustain the demand, coupled with the reduced raw material prices, is projected to drive perlite market over the forecast period. Several manufacturing companies are shifting their focus toward developing regions such as Asia Pacific and Central & South America (CSA) on account of the availability of cheap labor.
Perlite market is governed by strict regulations for its use in construction, filtration, and agriculture. The Mine Safety and Health Administration (MSHA) and Occupational Safety and Health Administration (OSHA) has laid down guidelines for perlite producers to ensure the safety of workers in mines. Technological innovations aimed toward the development of cost-effective manufacturing processes are also expected to remain a critical success factor for market growth over the forecast period.
The industry is highly competitive in nature due to the presence of several global market players. A large number of market participants are collaborating with research agencies to develop improved perlite products with different applications to gain a competitive edge.
Further key findings from the report suggest:
The global perlite industry was valued at USD 891.1 million in 2016. The market is anticipated to reach USD 1,591.4 million by 2025, denoting a CAGR of 7.0% from 2017 to 2025.
In terms of revenue, construction products dominated the segment in 2016. The segment accounted for over 31.1% of the total market in the same year.
Horticultural & agricultural application was ranked at the second position, accounting for 25.4% of the total market in 2016 in terms of revenue. Perlite is used in agricultural applications on account of its ability to carry herbicides, pesticides, and fertilizers.
In terms of revenue, Asia Pacific has dominated the global perlite market in the past few years, accounting for a share of 33.8% in 2016. This dominance is expected to continue over the forecast period owing to significant growth in end-use industries.
The industry is highly competitive in nature with the presence of several global players
Some of the key players operating in the industry are Aegean Perlites SA, Bergama Perlite, Supreme Perlite Company, The Schundler Company, and Genper Group