Fiber-reinforced Concrete and Cement Boards Generate Revenue Opportunities for Manufacturers
Wollastonite is gaining increased applicability in ceramics, plastics, and rubber applications. Since wollastonite powder is an excellent lightweight reinforcing filler, it is being used in producing cement boards and fire-resistant insulating boards. The ever-increasing construction industry is generating incremental opportunities for companies in the wollastonite powder market, where the market is expected to advance at a CAGR of ~8% during the assessment period. On the other hand, manufacturers are focusing in fiber-reinforced concrete.
Wollastonite is acquiring popularity as a cost-efficient reinforcement material in ceramics and whitewares. Its advantageous attributes such as low loss ignition and low carbon dioxide (CO2) emissions are being highly preferred by ceramics manufacturers. Hence, companies in the wollastonite powder market are increasing their production capacities to meet end user demands. They are producing fiber-cement boards and structural clay bodies to broaden their revenue streams.
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Weather and Stain Resistance in Coatings Highly Preferred by Customers
A steady demand for paints and coating products has catalyzed the need for wollastonite powder. Hence, Imerys - a French multinational industrial minerals company is strengthening its distribution chains in countries of North America, South America, and Asia Pacific. It has been found that wollastonite helps to improve the cohesive strength of paints and coatings. This helps to enhance the corrosion and barrier properties of coatings. Prolonged in-can stability and improved thermal stability is highly preferred in paints and coatings.
Companies in the wollastonite powder market are increasing their R&D efforts to engineer the particle size, shape, and color of wollastonite to meet the exact quality and performance requirements of clients. As such, weather and stain resistance is becoming increasingly important in paints and coatings. Manufacturers in the wollastonite powder market are increasing the availability of minerals that can be easily incorporated into both waterborne and solvent-borne systems.
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Substitutes Such as Steel Fibers Pose Stiff Competition to Wollastonite Powder
The wollastonite powder market is currently valued at US$ 361 Mn and is expected to mature up to a revenue of ~US$ 821 Mn by the end of 2030. However, substitute materials such as steel fibers, ceramic fibers, and glass fibers are hampering market growth. Hence, wollastonite powder manufacturers are expanding their business in countries of Asia Pacific where there is a high demand for calcium silicate. They are increasing the production for adhesives and sealants, since wollastonite powder is a highly effective functional filler.
The demand for high temperature and pressure sensitive adhesives and sealants is surging in the market landscape. Hence, companies in the wollastonite powder market are broadening their product portfolio in UV curable adhesives and sealants to tap into value-grab opportunities. As such, low resin demand and chemical purity of wollastonite makes it ideal for thermosets and elastomers.
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COVID-19 Causes Major Interruptions in Business Activities for Wollastonite Powder Manufacturers
The coronavirus (COVID-19) outbreak has caused a slowdown in global economic activities. Countries such as India, China, and Japan were expected to witness exponential demand for wollastonite powder in the construction industry are now experiencing a slump in market growth, since construction sites had been temporarily shut down due to the pandemic. This has majorly hampered growth for the wollastonite powder market in the construction sector. However, analysts at the Transparency Market Research opine that construction activities will gain momentum by the end of 2020.
In order to abide by guidelines issued by the local and government authorities, construction workers are practicing social distancing norms and are adopting thermal scanning to contain the spread of coronavirus. Companies in the wollastonite powder market are also streamlining their production activities according to the demand raised by clients.
Long-term Manufacturing Knowhow Helps in Gaining Competitive Edge in Global Market
It has been found that wollastonite helps to improve the mechanical properties of various plastic compounds. Hence, leading limestone company in Northern Europe Nordkalk is increasing its marketing capabilities for its W-Series products that are made from high-quality wollastonite powder that help to enhance the wear resistance of plastic compounds. High degree of whiteness and high pH value of wollastonite is highly preferred in ceramic and friction materials. Hence, manufacturers in the wollastonite powder market are increasing efforts to maintain a consistent quality in wollastonite products in order to gain global recognition in the market landscape.
Companies in the wollastonite powder market with a long-term manufacturing knowhow are at an advantage as compared to other market players. Manufacturers are exploring revenue opportunities in plastic components of car interiors, engine compartments, and electrical insulation plastics to broaden their revenue streams.
Metallurgical and Friction Applications Fuel Demand for Wollastonite
Pure and unadulterated wollastonite powder is in high demand in India. Hence, Delhi-based manufacturer of wollastonite MCA International uses the best quality materials to produce calcium silicate powder used in the plastics and construction industries. Companies in the wollastonite powder market are increasing their focus in the production of plastics, owing to excellent electrical insulating properties of wollastonite. Improved dimensional stability and fire resistance can be achieved with wollastonite powder in plastic components.
Apart from paints and coatings, wollastonite is also used in metallurgical applications due to its low water solubility and low loss on ignition. Wollastonite is being extensively used to formulate steel casting and welding powders. On the other hand, wollastonite is being used as a reinforcing additive in many friction applications. Manufacturers are tapping opportunities to experiment with semi-metallic and non-asbestos formulations for drum linings and truck blocks.
Analysts’ Viewpoint
Since the world economy is beginning to gather momentum during the ongoing COVID-19 crisis, suppliers and exporters of wollastonite powder are offering the finest quality of calcium silicate at cost-effective rates. However, wollastonite is found to compete with substitutes such as kaolin, mica, and talc materials that are used in the production of plastics. Hence, manufacturers in the wollastonite powder market should gain efficacy in developing high-quality calcium silicate used in paints, coatings, and ceramics to maintain steady demand for the mineral. They should expand their business in India, China, and Japan where the construction industry is booming.
Enhanced fire resistance characteristics of wollastonite tend to offset the advantages of its substitute materials.
Wollastonite Powder Market – Scope of the Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global wollastonite powder market to gauge its growth potential. The study presents detailed information about important growth factors, restraints, and key trends that are creating a landscape for growth of the global wollastonite powder market. The study also identifies growth avenues for market stakeholders. The report provides insightful information about how the global wollastonite powder market is likely to expand during the forecast period of 2020 to 2030.
The report offers intricate dynamics about different aspects of the global wollastonite powder market that can aid companies operating in the market in making strategic business decisions. TMR’s study also elaborates on significant changes that are anticipated to configure growth of the construction industry with respect to the global wollastonite powder market during the forecast period. It also includes a key indicator assessment that highlights growth prospects for the global wollastonite powder market and estimates statistics related to growth of the market in terms of volume (kilo tons) and value (US$ Mn).
This study covers a detailed segmentation of the global wollastonite powder market, along with key information and competition landscape. The report mentions company profiles of major players operating in the global wollastonite powder market, wherein various market developments and growth strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Global Wollastonite Powder Market
The report provides detailed information about the global wollastonite powder market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth of the market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global wollastonite powder market, which would help them design successful strategies and make target-driven decisions.
- Which application segment of the global wollastonite powder market would emerge as a leading revenue generator during the forecast period?
- What would be the Y-o-Y growth rate of the global wollastonite powder market between 2020 and 2030?
- What are winning imperatives of leading players operating in the global wollastonite powder market?
Research Methodology – Wollastonite Powder Market
The research methodology adopted by analysts for compiling the report on the global wollastonite powder market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the global wollastonite powder market.
For primary research, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the global wollastonite powder market.
For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global wollastonite powder market.