by The expanded perlite market is estimated to be valued at US$ 1.51 billion in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 – 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Expanded perlite is a naturally occurring volcanic glass that has a relatively high water content. When heated at high temperatures, the water in perlite expands up to 20 times its original volume, resulting in a lightweight, pozzolanic, and inorganic product. It has diverse applications that include horticulture, construction, filtration, and industrial. In horticulture, it is majorly used as a soil additive or hydroponic substrate due to its water retention and aeration properties. In construction, it is used in plasters and concrete owing to its sound absorption and low thermal conductivity.
Market Dynamics:
The expanding construction industry globally is estimated to be a major driver for the growth of the expanded perlite market during the forecast period. Rapid urbanization and infrastructure development activities have fueled the demand for materials used in construction such as cement, bricks, and concrete. Perlite has properties that make it suitable for use in cementitious products like concrete and plasters. Furthermore, rising demand for hydroponic farming and controlled environmental agriculture (CEA) practices is also expected to propel the market growth. Expanded perlite is widely used as a soil-less growing medium and provides ideal water retention and aeration for plant growth. Growing consumer preference for organic and locally produced foods has increased the adoption of hydroponics techniques using perlite. Additionally, expansion of various end-use industries such as filtration, insulation, and horticulture will also contribute to the market expansion during the forecast period.
Segment Analysis
The expanded perlite market is segmented into construction products, fillers, horticultural aggregates, filtration & process aids, and others by application. The construction products segment holds maximum share of the overall market and dominated the global expanded perlite market with around 30% share in 2022 due to expanded perlite’s high usage in insulation and plastering applications in the construction industry.
PEST Analysis
Political: Governments are promoting green buildings and implementing stringent regulations regarding energy-efficiency in construction which is prompting higher consumption of expanded perlite as an insulating construction material.
Economic: Growth in the construction sector due to rapid urbanization and rising income levels in developing nations is fuelling demand for expanded perlite.
Social: Increasing health awareness and focus on using eco-friendly products are driving adoption of expanded perlite as it has properties such as moisture & heat resistance.
Technological: Advancements in processing technology have improved perlite expandability leading to wider applications in horticulture, filtration and other industrial uses.
Key Takeaways
The global Expanded Perlite Market Demand is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing investments in infrastructure development especially in Asia Pacific and Middle East & Africa.
The Asia Pacific region held around 35% share of the overall market in 2022 and is projected to be the fastest growing as well as the most lucrative regional market over the coming years due to speedy industrialization and a boom in the construction sector in countries such as China and India.
Key players operating in the expanded perlite market are Imerys SA, Termolita S.A., Aegean Perlites SA, Perlite Hellas, Cornerstone Industrial Minerals, The Schundler Company, Gulf Perlite LLC, Keltech Energies Ltd., Silbrico Corporation, Perlitsan, Blue Pacific Minerals, Dupré Minerals Limited, Midwest Perlite Inc., Hess Perlite, Dicalite Management Group, Perlite Vermiculite Packaging Industries, Pratley Perlite Mining Co (Pty) Ltd., Brasil Minérios, Perlit-92 Kft, Cevahir Perlit Madencilik. These players are focusing on capacity expansion and new product development to strengthen their positions in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Ravina Pandya, Content Writer, has a strong foothold in the market research industry. She specializes in writing well-researched articles from different industries, including food and beverages, information and technology, healthcare, chemical and materials, etc. With an MBA in E-commerce, she has an expertise in SEO-optimized content that resonates with industry professionals.
