The global expanded perlite market is fragmented with the top five companies accounting for less than one third of the market in 2015. Some of the players such as IMERYS SA, Perlite-Hellas, Aegean Perlites SA have their presence across the value chain and have global operations. Players are focusing on region such as Asia Pacific, North America, and Latin America for capacity additions and mergers and acquisitions, as these regions are considered to have high growth potential in the expanded perlite market. Entry barriers for new players are low owing to easy licensing and availability of raw materials and modest capital requirements, says a new report by Transparency Market Research (TMR). Thus, the threat of new entrants will likely be high. There exists a moderate threat of external substitution from peat and vermiculite. However, switching to other products is not preferred as expanded perlite have many advantages and applications. Thus, the threat of substitutes will remain low in the coming years.
According to the report, the global expanded perlite market is expected to rise from US$719 mn in 2015 and is anticipated to reach US$1,257.6 mn in 2023. The market is expected to expand at a CAGR of 7.3% from 2015 to 2023. On the basis of application, the construction products segment is expected to account for 49.6% of the market in terms of volume by 2023. By geography, Asia Pacific is expected to account for 34.9% of the market by 2023 in terms of volume.
Thriving Construction and Oil and Gas Industries to Boost Demand for Expanded Perlite
The construction industry consumes a high volume of expanded perlite for building materials such as thermal and sound insulation panels, masonry products, bricks, blocks, and various structural panels. The construction industry is flourishing especially in Asia Pacific owing to a rise in infrastructural developments and increasing disposable income. The rise in the demand for expanded perlite from the oil and gas industries will also boost the global expanded perlite market.
Green roofs are expected to be an upcoming market for expanded perlite and will thus, fuel their demand. Expanded perlite reduces energy consumption for cooling and heating and hence, will be useful for building green roofs. In addition to this, expanded perlite is also used in breweries for filtration. “Beer breweries make extensive use of expanded perlite and this will also boost the market worldwide,” says a TMR analyst. They are also used in grape vineyards, greenhouses, vegetables, and seed manufacturing units. On the other hand, the availability of substitutes such as vermiculite and peat in the horticulture industry will be a restraint, the impact of which is likely to remain medium over the coming years.
Application of Expanded Perlite in Personal Care and Specialty Products to Widen Application Scope
The application scope of expanded perlite is increasing and this will ensure a continued growth of the market. Expanded perlite is now being used in a variety of products in the toiletry and personal care industries. They are used in products such as face wash, scrubs, shower gels, soaps, and toothpastes. As they are eco-friendly, expanded perlite are also being used in food-grade products as well. Products used in the personal care industries have a high value and need to meet strict quality standards. Thus, players may charge premium prices for expanded perlite from customers. High margins make this a lucrative market for players.
This information is based on the findings of a report published by Transparency Market Research titled “Expanded Perlite Market - Global Industry Analysis, Size, Share, Growth Trends and Forecast 2015 - 2023.”
The report segments the global expanded perlite market as follows:
- Expanded Perlite Market & Application Analysis
- Construction products
- Horticultural aggregates
- Filtration & process aids
- Others (miscellaneous consumer and industrial products, etc.)
- Expanded Perlite Market – Regional Analysis
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Rest of MEA
- North America
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