Perlite Market Size to Surpass USD 2.64 billion by 2029, Rise with Steller CAGR 6.0% | Exclusive Report by Exactitude Consultancy

Luton, Bedfordshire, United Kingdom, March 21, 2023 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Perlite Market.

The global Perlite market is expected to grow at a 6.0% CAGR from 2023 to 2029. It is expected to reach above USD 2.64 billion by 2029 from USD 1.5 billion in 2022.

Perlite, also referred to as pearl stone, is a type of siliceous rock that forms spontaneously when molten lava is rapidly cooled. It has a large percentage of silica and is typically found in a variety of hues, including green, gray, brown, blue, and red. Perlite is a stable amorphous aluminum silicate with a number of desirable characteristics, including high thermal conductivity, low mass density, low sound transfer, high surface area, and high heat resistance. Additionally, it includes compounds like calcium, magnesium, iron, and potassium oxides. Perlite is made and removed using open pit techniques like blasting and ripping. Perlite is primarily found in volcanic areas. Increased utilization of perlite in construction segments owing to its beneficial properties such as low combustion rate and reduced noise transmission is expected to boost the growth of the global perlite market.

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Perlite Market Recent Developments

• In March 2021, Imerys stated that it had produced and delivered around 3.3 ton of cryogenic perlite for safeguarding bottles of medicinal oxygen at the right temperature during the COVID-19 pandemic. The company produces cryogenic perlite at its Paulínia plant based in Brazil.
• In January 2021, Blue Pacific Minerals announced plans to sell its perlite extraction and processing division, as the company wants to focus more on its zeolite business. The company has perlite mines in Tokoroa of New Zealand, producing around 10 kiloton per annum of perlite crude ore.
• In March 2021, Omya AG announced the acquisition of Accimin, a perlite producer based in Mexico. Accimin offers expanded perlite for filtration and horticulture applications. The acquisition is likely to enhance Omya Ag’s perlite business.

Asia-Pacific region dominated 34% the global market share.

According to China’s five-year plan unveiled in January 2022, the country’s construction industry is estimated to register a growth rate of 6% in 2022. China is also planning to increase the construction of prefabricated buildings to reduce pollution and waste from construction sites.

The Government of India is strongly focused on infrastructure development to boost economic growth. According to Budget 2017-22, India plans to spend USD 1.4 trillion on infrastructure in the next five years. In 2023-29, the government allocated around INR 64,573 crore for developing new roads and bridges. With the growing application of perlite in horticulture, the agricultural production has shown an outstanding yield with a hydroponic system, which is, in turn, likely to drive the consumption of perlite.

The demand for perlite is driven by several factors, including:

• Increasing construction and infrastructure development: Perlite is used as a lightweight aggregate in concrete and plaster, as well as a thermal insulation material. As the construction industry continues to grow, demand for perlite is likely to increase.
• Growing horticulture and agriculture sectors: Perlite is used as a soil amendment in horticulture and agriculture to improve drainage and aeration, and as a seed starter medium. The expanding global population and rising demand for fresh produce are likely to drive demand for perlite in these sectors.
• Industrial uses: Perlite is used in a range of industrial applications, including filtration, separation, and abrasive products. As industries continue to expand, demand for perlite is likely to increase.

Increasing Demand for perlite is projected to drive the growth of the market.

Major factors that are expected to boost the growth of the perlite market in the forecast period are the rise in the need for perlite for fire rating, insulation, reduction of noise transmission. Furthermore, the safety certification from the regulatory authorities is further anticipated to propel the growth of the perlite market. Moreover, the growing need for high-temperature insulation from the oil and gas sector is further estimated to cushion the growth of the perlite market. On the other hand, the limitations on the utilization of refractories because of increasing environmental issues are further projected to impede the growth of the perlite market in the timeline period.

Improving economic conditions in emerging markets are projected to increase the use of perlite.

Rapid urbanization in emerging markets such as India, Malaysia, Thailand, and Brazil are expected to boost the spending in vital infrastructure sectors such as power, construction, and transportation. Improving economic conditions in these emerging markets are projected to increase the use of perlite. It is expected that spending on capital projects and infrastructure will grow significantly over the next decade. China, India, and other countries in the Asia Pacific, along with South Africa and Brazil, are investing considerably in the building & construction industry. This investment is required for modernization and commercialization.

Perlite Market Report Scope

Competitive Scenario:

The Competitive Scenario provides an outlook analysis of the various business growth strategies adopted by the vendors. The news covered in this section deliver valuable thoughts at the different stage while keeping up-to-date with the business and engage stakeholders in the economic debate. The competitive scenario represents press releases or news of the companies categorized into Merger & Acquisition, Agreement, Collaboration, & Partnership, New Product Launch & Enhancement, Investment & Funding, and Award, Recognition, & Expansion. All the news collected help vendor to understand the gaps in the marketplace and competitor’s strength and weakness thereby, providing insights to enhance product and service.

Company Usability Profiles:

Key players in perlite market include Aegean Perlites SA, IMERYS, Bergama Mineral Perlite, Cornerstone Industrial Minerals Corporation, Saudi Perlite Industries, Azer Perlite Corporation, Profiltra BV, Coxmin Minerals Ltd, Mianeh Perlite Expanding Co. Ltd, Keltech Energies Ltd, Dupré Minerals, Amol Minechem Ltd., Supreme Perlite Company, IPM Group of Companies, Genper Group, The Schundler Company.

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Segment Overview

Polyurethane Foam Market is segmented by Type, by Applications, and by End Users.

Perlite Market Dynamics:

Increasing demand for expanded perlite among various business sectors is a key factor expected to drive the growth of the global perlite market during the forecast period, owing to its beneficial properties such as high insulation, acoustic, water retention, and high-water density. Another reason anticipated to spur development of the worldwide market is the rising demand for lightweight, weather-resistant materials with high mechanical strength in the construction industry. In addition, rising demand for perlite in the building industry is anticipated to support the creation of lightweight plasters, concrete and mortar, insulation, and ceiling tiles.

Furthermore, increasing awareness about perlite in the filtration process for fining liquids among various sectors is another factor expected to witness the advent growth of the target market, owing to benefits offered by expanded perlite for large volumes of materials with low bulk density and high filtering performance for dry density range too. However, the wide availability of substitute products is a major factor expected to restrain the growth of the global perlite market. In addition, stringent adherence to use of perlite by the government in the construction sector is another factor expected to hamper the growth of the target market to a certain extent.

Perlite Market Drivers

• Booming construction sector will drive the market’s growth

The construction sector is one of the most important markets for perlite where it is used in several construction applications. Perlite is used in a variety of uses, including hollow walls, lightweight insulated concrete and plaster, brick blocks made of concrete, loose fill insulation, and many more. Global advancements in the building sector are anticipated to encourage increased perlite usage, which will fuel market expansion over the estimate period. For instance, the European building Industry Federation reported that in 2022, net expenditure in new building works reached USD 13.46 billion, an increase of 9.3% from 2029. Similarly, according to the stats by India Brand Equity Foundation, foreign direct investment received by India in the construction development sector (townships, housing, built up infrastructure and construction development projects) between April 2022 and June 2022 was recorded at USD 26.14 billion. This booming construction sector in the world is expected to augment the higher uses of perlite, contributing to the growth of the market during the forecast period.

• Expanding agriculture and horticulture sector will drive the market

Perlite is widely used in the agriculture and horticulture sector globally. The mineral is used in soilless growing mixtures where it provides the best aeration and moisture preservation for the best plant development. Among other uses, perlite is used as a medium for re-rooting crops and veggies. The market is expected to develop during the projection period as a result of the farm and gardening sector's expansion worldwide and rising output and exports. For instance, the agriculture industry in India will continue to advance in the coming years thanks to increased investment in agricultural infrastructure, according to 2022 statistics from the India Brand Equity Foundation. Similarly, according to the OECD-FAO Agricultural Outlook 2023-2029 report, global agricultural production is expected to increase by 1.4% p.a. over the coming decade. Such expansion in the agriculture and horticulture sector globally is expected to drive the market’s growth during the forecast period.

Perlite Market Challenges

• Strict regulations regarding the use of perlite might hamper the market’s growth

Perlite is monitored by several governing bodies due to the health risks connected with the material which is a significant challenge and this might impact the market's development during the projection period. Because too much contact to perlite can cause a number of health risks, working with perlite needs to be properly supervised. When working with perlite, the suggested safety equipment should be worn, according to statistics from the Asia Industrial Gases Association (AIGA). Perlite can cause severe inflammation if it gets into the eyes or breathing system. These restrictions on perlite use may slow the market's expansion over the projection timeframe.

Key Questions Answered in the Report:

(1) What are the growth opportunities for the new entrants in the Perlite industry?

(2) Who are the leading players functioning in the Perlite marketplace?

(3) What are the key strategies participants are likely to adopt to increase their share in the Perlite industry?

(4) What is the competitive situation in the Perlite market?

(5) What are the emerging trends that may influence the Perlite market growth?

(6) Which product type segment will exhibit high CAGR in future?

(7) Which application segment will grab a handsome share in the Perlite industry?

(8) Which region is lucrative for the manufacturers?

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