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.
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.
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.
Global Commercial Perlite Market: Segmentation
Commercial Perlite Market, by Type
Commercial Perlite Market, by Application
- Insulating Materials
- Filter Aids
Commercial Perlite Market, by End-use Industry
- Building & Construction
- Food & Beverages
- Water Treatment
Commercial Perlite Market, by Region
- North America
- Latin America
- Rest of Latin America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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