Expanded Perlite Market Estimated to Gain Valuation of US$1,878.4 Mn by 2027 End, Increased Use in Filtration Process Triggers Market Growth: TMR

ALBANY, N.Y, Sept. 22, 2020 /PRNewswire/ -- Expanded perlite is a non-toxic, stable, and chemically inert mineral product. It is obtained by expanding raw perlite. Expanded perlite is gaining traction across diverse end-use industries such as construction, horticulture, and beverages owing to its numerous properties such as audio, thermal, electrical insulation.

Analysts at TMR largely concur that the global expanded perlite market will show prominent growth at a CAGR of 5.0% during the forecast period of 2019 to 2027. The market is expected to gain the valuation of around US$1,878.4 Mn by 2027 end. One of the key factors for market growth is extensive utilization of expanded perlite in various end-use industries including building and construction sector.

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Key Findings of Expanded Perlite Market Report

• The valuation of the global expanded perlite market was around US$1,155.47 Mn in 2018.
• The market is expected to show growth at a CAGR of approximately 5.0% during the period of assessment.
• It is predicted to touch the value of US$1,878.4 Mn by 2027 end.
• On regional front, North America and Asia Pacific were lucrative regions of the expanded perlite market in 2018.
• The Middle East and Africa and Latin America are projected to offer extensive growth avenues for the expanded perlite market in the forecast period of 2019–2027.

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Expanded Perlite Market: Key Driving Factors and Promising Avenues

• Expanded perlite finds application in various sectors owing to its diverse properties.
• The physical properties of expanded perlite make it suitable for use in filtration processes. Perlite filter aids are considered lightweight and inert. At the same time, they do not give taste or odor when utilized for liquids filtration. Similarly, they are soluble in organic acids. Owing to all these prosperities, perlite filter aids are gaining popularity in diverse industries for filtration activities. This scenario depicts that the global expanded perlite market will grow at rapid pace during the forthcoming years.
• In recent period, there is increase in the consumption of various beverages such as juices, beer, and wine. As a result, the companies engaged in the manufacturing of these beverages are growing demand for expanded perlite. This factor is generating growth opportunities in expanded perlite market.
• Increased use of expanded perlite in cosmetics and personal care products is expected to boost the market growth in the years ahead.

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Expanded Perlite Market: Competitive Assessment

The global expanded perlite market is experiencing highly competitive landscape. Key reason for this situation is the entry of new players in this market. Major vendors working in the global expanded perlite market are concentrated on strengthening their production capabilities. This aside, they are showing interest in merger and acquisition as well as partnership activities. These moves are helping enterprises solidify their position in the market for expanded perlite.

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The list of important companies working in the expanded perlite market includes Supreme Perlite Company, Imersys SA,Silbrico Corporation, and Cornerstone Industrial Minerals Corporation.

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The expanded perlite market can be segmented as follows:

Application

• Construction products
• Fillers
• Horticulture Aggregates
• Filtration & Process Aids
• Others

Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

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Commercial Perlite Market - The global commercial perlite market was valued at US$ 1.1 Bn in 2018 and is anticipated to expand at a CAGR of ~5% from 2019 to 2027. Rise in the demand for commercial perlite in the building & construction sector is driving the global commercial perlite market. Asia Pacific accounted for a major share of the global commercial perlite market in 2018. In terms of demand, China held a dominant share of the market in Asia Pacific in 2018. The commercial perlite market in Asia Pacific is expected to expand at a CAGR of 5.5% during the forecast period.

Closed Cell Expanded Perlite Market - Rise in demand for lightweight construction materials is positively impacting the closed cell expanded perlite market.  Increase in usage of gypsum plasterboard as construction material due to its lightweight property is estimated to drive the demand for closed cell expanded perlite in the near future. Closed cell expanded perlite is widely used in construction applications owing to its excellent insulation, light weight, and fire resistance and sound dampening properties. It is also used in the production of Portland cement, gypsum plasters, ceiling tiles, mortar, concrete, and lightweight cement plasters.

Unexpanded Perlite Market - The rising development in construction industry owing to rising urbanization and industrialization which will likely to boost demand for sandblasting application in the industry in the Asia Pacific region. This can be one of the key factors fueling demand for global unexpanded perlite market in coming years. On the other hand, product has complicated process and very expensive for the extraction procedure and raw perlite is fine particles which may affect the human and cause breating problem. However, rising research and development activities by the manufacturers to propel growth of the global unexpanded perlite market in near future.

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