Perlite Market Worth 2.20 Billion USD by 2022
PUNE, India, March 12, 2018 /PRNewswire/ --
The report "Perlite Market by Form (Expanded Perlite and Crude Perlite), Application (Construction, Agriculture & Horticulture, and Industrial), and Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America) - Global Forecast to 2022" published by MarketsandMarkets™, the Perlite Market size is estimated to grow from USD 1.51 Billion in 2017 to 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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Construction segment to gain maximum traction during the forecast period
The construction sector dominated the market in 2016 and is projected to be the second-fastest growing application in the next five years. As a result of rapid urbanization and industrialization, this market is mostly driven by the upward surge in demand for new constructions across the world. The increasing public and private investments in the construction sector of the emerging economies of Asia Pacific, the Middle East, and South America drive the growth of this market.
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The expanded perlite segment, by form, is estimated to account for a larger market share in 2017
Expanded perlite finds application in several sectors, which drives its demand. This segment dominates the Perlite Market and is projected to grow at a higher rate during the forecast period. Expanded perlite possesses high insulation, acoustic, and excellent water retention, and higher water density properties. Hence, the expanded perlite form accounted for a relatively larger market share than the crude perlite segment.
The Asia Pacific region accounted for the largest share of the Perlite Market in 2016
Asia Pacific contributes a major market share in the global Perlite Market. Due to the increasing industrialization as well as the large population in China, Japan, and India, these countries are experiencing high demand for building & construction. The rapid urbanization in these countries demands faster and cheaper construction of buildings and facilities without compromising on quality. Additionally, the increasing government investments in infrastructural constructions provide the potential for the growth of the Perlite Market in these countries.
The major players in the Perlite Market include 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).
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