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Unique Characteristics with Minimum Impact on Products Fuel Wollastonite Market Growth

Wollastonite, a calcium metasilicate (CaSiO3), has a theoretical composition of calcium oxide and silicon dioxide, but may contain trace to lesser amounts of aluminum, iron, magnesium, manganese, potassium, and sodium. Wollastonite primarily occurs as prismatic crystals with unique characteristics that divide into massive-to-acicular fragments. Due to advanced processing, it has grown into one of the most versatile functional fillers in the global marketplace. Wollastonite is primarily used to increase the performance of several products, including plastics, paints & coatings, construction materials, friction, ceramic, and metallurgical applications. However, optimum performance is produced by accurately matching the suitable coupling agent at the right concentration level to the polymer system. Nevertheless, the advantages of surface-modified wollastonite are enhanced physical properties, advanced processing, and improved dispersion of the resin. The growing production and consumption of ceramic-based products across the world is anticipated to boost the global wollastonite market during the forecast period.

Another way wollastonite forms is through crystallization from molten rock (magma) that has very high carbon content. Although wollastonite is largely inert, it will dissolve in concentrated hydrochloric acid. However, it will not react with other elements of manufactured products both during and after the production process. While crushing, wollastonite splits into lath or needle-shaped (acicular) bits due to its unique cleavage characteristics. Furthermore, the brightness and whiteness of pure wollastonite are essential for some purposes. Commercial wollastonite has brightness values around 85-90% percent that of common brightness standards such as magnesium oxide and barium sulphate. Thus, being bright and white, wollastonite has a minimum influence on a product’s color, and can also be used as a white pigment. Thus, it is a preferred mineral for usage in various industrial applications. All these factors are contributing to the growth of the global wollastonite market in the upcoming future.

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Disruptions in Global Manufacturing Hampers Growth Rate of Wollastonite Market

The outbreak of the COVID-19 pandemic has severely impacted the global economy and worldwide supply & trade. In a fully connected and unified world, the impacts of the disease beyond mortality and morbidity have become visible since the outbreak. With the slowdown of the economy in China, the functioning of global supply chains has been disrupted. Studies from previous pandemics show that risk levels from pandemics are high, especially in developing countries due to their strong relationship with market buoyancy and economic change. The events that have changed the global economy rapidly also strongly affected construction and manufacturing with limited permission to operate. The implementation of social distancing and lockdown has hampered the production rate across the globe, which has led to the decreased demand for wollastonite. Most end-use manufacturers were facing similar dropdowns in economy and production that limited new demand for wollastonite, thus affecting the growth of the wollastonite market.

The year 2021 will likely observe a surge in mergers and acquisitions, as COVID-19 proved the value of a well-balanced portfolio. Valuation multiples in sought-after elements sub-segments including pharmaceuticals, nutrition, or paints & coatings have remained high through the pandemic pause, and are likely to enhance the production scale with the pandemic nearing its end. However, more flexible and digital work plans have become a new norm, and led to an openness toward automation across many functions, including manufacturing, research, and development. Though remote working at scale was not deemed possible in the wollastonite market, it has become the norm for almost all office-going employees. Manufacturers should focus on lean staffing, remote monitoring, and new shift models that allow social distancing and are effective in plants & labs.

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Multiple End-use Applications Help Preserving Constant Demand for Wollastonite Production

Wollastonite has trended in various industries due to its multiple uses and high efficiency. Similar to the plastics industry, wollastonite is a cost-effective replacement for fiberglass, milled carbon fiber, and synthetic materials. It is especially appreciated by the automotive industry, as it increases the strength, dimensional stability, and shock resistance of car parts, allowing businesses to make them lighter. It also increases the scratch resistance of components and develops weld line strength. In electrical and electronic (E&E) components such as computer installations and electrical connectors, wollastonite intensifies insulating qualities and fire resistance. Moreover, when used in paints and coatings, efficient wollastonite grades present versatility, excellent anti-cracking, mechanical reinforcement, and shock resistance, as well as gloss control properties due to their different morphology and hardness. Additionally, the crystal structure and physical properties of wollastonite are stable nearly at 1,120°C. It makes wollastonite an ideal alternative to asbestos in thermal insulation applications. All these enhancing features are anticipated to drive the wollastonite market during the forecast period.

Wollastonite with its multiple applications is widely used as a flux in the casting of steel and the production of paints & coatings. Wollastonite is also majorly used in the production of adhesives, joint compounds, refractories, and rubber. All grades of wollastonite are used in the manufacturing of plastics, including nylons, phenolic molding compounds, polyesters, and polyurethanes, and polyureas. In industrial coatings, wollastonite give good anti-corrosion properties and optimal manufacturing performance in terms of hardness, adhesion, impact, and flexibility without affecting gloss level. Furthermore, Wollastonite can be used in low viscosity systems resulting in lower VOC levels. With rise in the demand for better grades for automotive plastics and constant growth forecast for all its end use segments, the global wollastonite market looks promising in the upcoming years.

Major Deposits of Wollastonite in U.S. Promotes Market in North America

The Asia Pacific has been witnessing an increase in the demand for wollastonite in various end-use industries such as construction and automotive. The rapidly growing construction and automotive industries in the region are expected to drive the demand for wollastonite in the near future. The Asia Pacific already holds major market share of the wollastonite market during the forecast period. However, with the presence of a large number of wollastonite manufacturers in North America, the market in the region is expected to significantly grow during the forecast period. The global wollastonite market is projected to reach US$ 366.46 Mn by 2031, expanding at a CAGR of 8.79% during the forecast period.

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Analysts’ Viewpoint

Increasing construction activities at a rapid pace at the global level and growing concern from industry players for reliable safety and protection of buildings are expanding the construction industry, which is likely to create potential growth opportunities for the wollastonite market. In addition, the future of the global wollastonite market looks engaging with better opportunities in the polymer, ceramic, paint & coating, and metallurgy segments. Moreover, emerging trends such as growing consumption of ultrafine wollastonite and increasing application of synthetic wollastonite are contributing to the global wollastonite market growth during the forecast period.

Wollastonite Market: Overview

  • Wollastonite is a natural mineral that consists of calcium silica oxides. It contains several exclusive characteristics; therefore, wollastonite is considered one of the most versatile functional fillers and reinforcement agents.
  • Wollastonite is formed when impure limestone is metamorphosed due to heat and pressure, or silica-bearing fluids are introduced into calcareous sediments during metamorphosis. In both these cases, calcite reacts with silica to produce wollastonite and carbon dioxide.
  • Natural wollastonite may contain trace or minor amounts of various metal ions such as aluminum, iron, magnesium, potassium, and sodium. Wollastonite is rarely available in pure form. It contains other minerals such as calcite, garnet, and dropsied as gangue minerals or impurities that are removed during processing.
  • According to Transparency Market Research’s latest research report on the wollastonite market for the forecast period of 2021 to 2031, rise in usage of wollastonite in the ceramic industry is a key factor that is expected to boost the global wollastonite market during the forecast period
  • In terms of revenue, the global wollastonite market is estimated to reach US$ 366.46 Mn by 2031, expanding at a CAGR of 8.79% during the forecast period

Rise in Demand for Wollastonite in Ceramics Industry: Key Driver of Wollastonite Market

  • Wollastonite offers a wide range of special properties such as high brightness and whiteness; low moisture and oil absorption; and low volatile content. Thus, it is a preferred mineral for usage in ceramics applications.
  • The ceramics industry consumed approximately 450 kilo tons of wollastonite in 2017. It accounted for approximately 30% share of the total global production of wollastonite in 2017. Of this, most of the powder was used in wall and floor tiles, glazes, sanitary ware, earthenware, and other specialized applications.
  • In ceramics, wollastonite decreases shrinkage and gas evolution during firing; increases green and fired strength; maintains brightness during firing; permits fast firing; and reduces crazing, cracking, breaking, and glaze defects. Firing temperature is reduced to shorten the baking time. This lowers thermal expansion and increases strength and pressure. Furthermore, wollastonite can significantly improve the mechanical properties of ceramic products.
  • Wollastonite is primarily used in ceramics, friction products (primarily automobile brakes), metallurgy, paints, and plastics. Some vital properties that make it beneficial are high brightness and whiteness, low moisture and oil absorption, low volatile content, and acicular properties. Wollastonite glaze is applied to reduce or eliminate pinholes glaze.
  • Global production and consumption of ceramic-based products is projected to increase in the near future. This, in turn, is anticipated to boost the global wollastonite market during the forecast period.

Ceramics Application to Offer Lucrative Opportunities

  • Based on application, the ceramics segment dominated the global wollastonite market in 2020. This can be primarily ascribed to the increase in demand for production of tiles and ceramic products across the globe.
  • In terms of value, the ceramics segment is estimated to dominate the global wollastonite market during the forecast period
  • Wollastonite is largely employed in plastic & rubber manufacturing applications. Thus, the plastic & rubber manufacturing segment is likely to expand at a steady pace during the forecast period.
  • The paints & coatings segment is anticipated to experience significant growth during the forecast period, as these are used in various applications, including industries such as construction and automotive
  • The concrete manufacturing segment offers lucrative growth opportunities to the global wollastonite market
  • Plastic & rubber manufacturing is likely to be a highly attractive application segment of the global wollastonite market during the forecast period. Increase in demand for plastic and rubber in automobile and construction industries is anticipated to drive the segment in the near future.

Wollastonite Market: Competition Landscape

  • Detailed profiles of providers of wollastonite have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global wollastonite market are
    • Nordkalk Corporation
    • Wolkem
    • Imerys S.A.
    • ACBM JSC
    • R.T. Vanderbilt Holding Company Inc.
    • Canadian Wollastonite
    • Xinyu South Wollastonite Co., Ltd
    • Lishu Dadingshan Wollastonite Co. Ltd
    • Changxing Earth New Type of Material Co., Ltd.
    • Jilin Shanwei Wollastonite Mining CO., LTD.
  • Major providers of wollastonite, such as Canadian Wollastonite, Wolkem, Xinyu South Wollastonite Co., Ltd, and Changxing Earth New Type Of Material Co., Ltd., are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
  • In the global wollastonite market report, we have discussed individual strategies, followed by company profiles of providers of wollastonite. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global wollastonite market.

Wollastonite Market – Scope of Report

The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global wollastonite market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global wollastonite market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global wollastonite market would expand during the forecast period of 2021 to 2031.

The report offers intricate dynamics about different aspects of the global wollastonite market, which aids companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure the growth of the global wollastonite market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global wollastonite 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 market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global wollastonite market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.

Key Questions Answered in TMR’s Report on Wollastonite Market

The report provides detailed information about the global wollastonite market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global 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 market, so as to help them design successful strategies and make target-driven decisions.

  • Which application segment of the global wollastonite market would emerge as major revenue generator during the forecast period?
  • How are key market players successfully earning revenue out of advantages of wollastonite?
  • What would be the Y-o-Y growth trend of the global wollastonite market between 2021 and 2031?
  • What are the winning imperatives of leading players operating in the global wollastonite market?
  • Which application segment is expected to create lucrative opportunities for the global wollastonite market during the forecast period?
  • Which are the leading companies operating in the global wollastonite market?

Research Methodology – Wollastonite Market

The research methodology adopted by analysts for compiling the global wollastonite market report 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 sources, analysts have offered riveting observations and authentic forecasts for the global wollastonite market.

During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global wollastonite market.

For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global wollastonite market.

Wollastonite Market – Segmentation

TMR’s research study assesses the global wollastonite market in terms of application and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global wollastonite market.

  • Ceramics
  • Plastic & Rubber Manufacturing
  • Paints & Coatings
  • Metallurgical Application
  • Friction Products
  • Concrete Manufacturing
  • Others (Synthetic Bone Implants)
  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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Wollastonite Market

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