Growing Packaging, Automotive, and Construction Industries Creates Promising Growth Avenues in Performance Minerals Additives Market, States TMR
Performance minerals additives market is expected to be valued worth US$ 72.5 Bn by 2031. Apart from plastic industry, the market players will experience lucrative avenues from the construction industry
The expansion of cosmetics and personal care industries is projected to work as a driver for market growth
ALBANY, N.Y., Aug. 5, 2021 /PRNewswire/ --Performance mineral additives are gaining impetus across a wide range of end-user industries such as building and construction, packaging, pharmaceutical & biotechnology, automotive, food & beverages, oil & gas, energy & power, and home care and personal care. Noteworthy growth in the product use by all these industries is creating sizable sales opportunities in the performance minerals additives market.
Calcium carbonate, bentonite, mica, kaolin, quartz, perlite, feldspar mineral, talc, refined clay, and halloysite are some of the key examples of performance mineral additives.
The global performance minerals additives market is expected to expand at 5.3% CAGR during the forecast period 2021–2031, according to researchers at Transparency Market Research.
Research and Development Activities Toward Robust Polyolefin Compatibilization Technology
The concept of incorporation of various properties of virgin plastics into recycled plastic is quite a complex process. Thus, the enterprises operating in the performance minerals additive market can grow efforts toward the research and development activities, which are focused on robust polyolefin compatibilization technology. With these research activities, enterprises will be able to develop additives, which may help recycled plastics to reproduce the properties of virgin plastics.
Plastic Application: Potential Dominant Segment in Performance Minerals Additives Market
Performance mineral additives are increasingly utilized in many applications including plastics production, owing to a variety of advantages they offer. The use of performance mineral additives in the plastic materials production allows for incorporation of various properties such as thermal conductivity or high electrical conductivity in them. Thus, the performance mineral additives help in strengthening the functional quality of plastics.
The demand for plastics is increasing from all across the globe day by day. Owing to this scenario, the global performance minerals additives market will experience dominance of plastic application segment in the years ahead.
Owing to the easy availability of performance mineral additives, the prices of these products are growing at a sluggish pace. As a result, the product is available at cheaper rates. Thus, the cost-effectiveness of performance mineral additives is one of the key factors boosting their adoption at rapid pace.
Major players in the global performance minerals additives market are focused on execution of many key tactics such as joint ventures, mergers, and collaborations. All these efforts are helping enterprises in maintaining their prominent market position. This aside, many players in the market are growing focus on product innovation of performance minerals additives.
Over the period of past few years, there is noteworthy growth in the use of minerals in the cosmetics and personal care industry. As a result, the demand for additives utilized for improving the performance of such products is increasing. Thus increased sales of cosmetics and personal care products is likely to translate into increased demand avenues in the global performance minerals additives market in the future years.
The demand for plastics is increasing at prominent pace in many developing regions such as Asia Pacific. Owing to this factor, the Asia Pacific performance minerals additives market is projected to shows expansion at a CAGR of over 6.5% during forecast period of 2021 to 2031.
Performance Minerals Additives Market: Some of the Key Players
The report profiles some key players working in the performance minerals additives market. This list includes following names:
Minerals Technologies Inc.
Dicalite Management Group, Inc.
GLC Minerals, LLC
ORGANIC INDUSTRIES PVT LTD.
Bharat Mines and Minerals
Upreti Talc Pvt. Ltd.
Global Performance Minerals Additives Market: Segmentation
Performance Minerals Additives Market, by Type
Others(including Limestone and Gypsum)
Performance Minerals Additives Market, by Application
Paints & Coatings
Others(including Dietary Supplement)
Performance Minerals Additives Market, by End-use Industry
Building & Construction
Pharmaceutical & Biotechnology
Food & Beverages
Home Care & Personal Care
Oil & Gas
Energy & Power
Performance Minerals Additives Market, by Region
Russia & CIS
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
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