Commercial Perlite Market Scope, Size, Share, Trends, Forecast by 2027
Commercial Perlite Market: Introduction
The
global commercial perlite market was valued at US$ 1.1 Bn in 2018 and
is anticipated to expand at a CAGR of ~5% from 2019 to 2027. Rise in the
demand for commercial perlite in the building & construction sector is
driving the global commercial perlite market. Asia Pacific accounted for a
major share of the global commercial perlite market in 2018. In
terms of demand, China held a dominant share of the market in Asia Pacific
in 2018.
The commercial perlite market in Asia Pacific is expected to expand at a CAGR
of 5.5% during
the forecast period.
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Key Drivers of Commercial Perlite Market
Increasing
urbanization, expanding middle-class population, and increasing disposable
income of people have led to rise in space requirement across the globe.
Additionally, increase in residential construction activities across the world
is anticipated to drive the demand for insulation materials, such as commercial
perlite, during the forecast period. Characteristics of commercial perlite,
including insulation and lightweight, make it an ideal material for use as
loose-fill insulation in masonry construction. This factor is expected to drive
the demand for commercial perlite worldwide in the near future.
Commercial
perlite is used in the global food & beverages industry for filtration of
beverages, including beer and carbonated soft drinks. Rising demand for
packaged alcoholic and non-alcoholic beverages across the world is anticipated
to drive the demand for commercial perlite in the near future.
According
to the World Bank, in 2018, more
than 783
million people across the globe lacked access to safe
drinking water; 2.5
billion people were deprived of adequate sanitization; and
a large percentage of people were afflicted by water-borne diseases. At the
current rate, 90% of
the total fresh water available would be consumed in the next 25 years.
Consequently, desalination and water reuse are likely to become a vital source
of fresh water. Since perlite is used for water filtration, the demand for the
same in this application is expected to increase in the next few years.
Asia Pacific Dominates Commercial Perlite Market
In
terms of revenue, Asia Pacific led the global commercial perlite market
in 2018.
Rapid growth of the building & construction sector in the region is
projected to drive the market for commercial perlite in Asia Pacific during the
forecast period. Major characteristics of commercial perlite include high
insulation, excellent water retention, and acoustic properties. Owing to these
properties offered by commercial perlite, it is extensively used in the
construction industry as an additive in masonry products, concrete, and cement
mixtures. It is also employed as a filler in cinder blocks and building panels
for thermal insulation and soundproofing. However, expanded perlite can be
replaced by materials such as diatomaceous rock, barite, and polymeric foams in
applications such as thermal insulation and soundproofing.
The
commercial perlite market in North America and Europe is projected to expand at
a moderate pace during the forecast period, as the market in these regions is
mature in nature. Advancements in research and development activities by
universities and manufacturers in North America and Europe are likely to drive
the commercial perlite market in these regions during the forecast period. The
market in Latin America is expected to expand at a sluggish pace from 2019 to 2027, owing to
presence of a few manufacturers of commercial perlite in the region.
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Prominent Players Operating in Global Market
The
global commercial perlite market is highly competitive in nature. Prominent
players operating in the global commercial perlite market are IMERYS SA, Silbrico Corporation,
Keltech Energies, Cornestone Industrial Minerals Corporation, The Schundler
Company, U.S. Silica Holdings, Inc., Aegean Perlite S.A., Supreme Perlite
Company, and Genper Group.
These
companies focus on research and development activities pertaining to commercial
perlite, in order to attain product differentiation. Additionally, other
players are largely engaged in expanding their distribution network and
increasing production capacity to gain strong foothold in the global commercial
perlite market. Ongoing research and development of commercial perlite is
expected to drive the global market in the near future.
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