The perlite market was valued at USD 1.42 Billion in 2016 and is projected to reach USD 2.20 Billion by 2022, at a CAGR of 7.78%. The market is projected to witness significant growth over the next few years with the increasing demand for new constructions due to rapid urbanization and industrialization with large-scale investments in the commercial and infrastructural sectors. The rising demand for perlite in emerging economies and the increasing inclination toward sustainable construction methods are increasing the reliance on modern construction materials, thus creating growth opportunities for the perlite market.
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Industrial segment to gain maximum traction during the forecast period
The industrial sector is projected to be the fastest-growing segment in the perlite market during the forecast period. Expanded perlite finds diverse applications in the industrial sector, ranging from high-performance fillers for plastics to cement; as a filtering agent for petroleum, water, and geothermal wells; and for cryogenic insulation that requires insulation for extremely low to medium and high temperature including insulating concrete, refractory bricks, and underfloor insulation. Safety certifications from regulatory authorities present opportunities for manufacturers to strengthen their position in the perlite market, in order to maintain the quality and performance standards of perlite.
The perlite value chain includes raw material manufacturers such as Imerys Minerals (UK), Keltech Energies (India), Dupré Minerals (UK), Amol Dicalite (India), IPM Group of Companies (Philippines), and Bergama Mining Perlite (Turkey), Furthermore, the products manufactured by these companies are used by various end-use sectors. The end-use sectors comprise industrial, construction, agriculture & horticulture, and food & beverages, among others. The application of perlite components in these sectors is due to its various properties including high insulation, acoustic property, lightweight concrete, fire resistant, and excellent water retention properties. The global market for the perlite market is dominated by players such as Imerys Minerals (UK), Keltech Energies (India), Dupré Minerals (UK), Amol Dicalite (India), IPM Group of Companies (Philippines), Bergama Mining Perlite (Turkey), Supreme Perlite Company (US), Genper Group (Turkey), The Schundler Company (US), and Whittemore Company (US).
In terms of value, the expanded perlite segment is projected to grow at a higher CAGR during the forecast period. This growth can be attributed to factors such as introducing high strength to concrete with less water content and easy workability. Expanded perlite finds applications in several industries including agriculture & horticulture, construction, industrial, and food & beverages.
The rising number of infrastructural activities as well as the large population in China and India drive the growth of the Asia Pacific perlite market. Additionally, other emerging economies such as South Africa and countries in the Middle East and South America are experiencing high demand for construction. The rapid urbanization in these countries demands faster and cheaper construction of buildings and facilities without compromising on the quality. Additionally, the increasing number of government investments in infrastructural constructions provide the potential for the growth of the perlite market in these countries.
