Dublin, Sept. 29, 2023 (GLOBE NEWSWIRE) -- The "Pyrophyllite Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The global Pyrophyllite Market is poised for substantial growth, with market analysts forecasting an increase from 737.16 kilotons in 2023 to 822.30 kilotons by 2028, reflecting a Compound Annual Growth Rate (CAGR) of 2.21% during the forecast period (2023-2028).
This market expansion is driven by several key factors, including the surging demand for pyrophyllite in ceramics, particularly in construction and automotive industries, while the Asia-Pacific region is expected to lead in market consumption.
Key Market Highlights
- Growing Demand for Pyrophyllite in Ceramics: Pyrophyllite, a versatile and exceptional mineral, is increasingly sought after for its unique properties. It is used as a raw material in ceramics due to its ability to lower firing temperature, reduce thermal expansion, shrinkage, and cracking, and enhance thermal shock resistance. Furthermore, ceramics incorporating pyrophyllite display a high degree of vitrification and excellent mechanical resistance. The construction and automotive industries are expected to drive the demand for pyrophyllite in ceramics, thanks to its toughness, hardness, electrical resistance, and chemical inertness.
- Asia-Pacific Region Dominates the Market: The Asia-Pacific region is anticipated to dominate the Pyrophyllite Market during the forecast period. Countries like China and India are experiencing a growing demand for pyrophyllite, primarily driven by its extensive use in ceramics in the construction industry. Moreover, the largest producers of pyrophyllite are located in this region, contributing to its dominance. Investments in facilities like paint and coatings production further boost demand for pyrophyllite, as it is an essential component in these industries. In addition to ceramics and construction, pyrophyllite is used in agriculture as a fertilizer carrier, further contributing to the region's market dominance.
Pyrophyllite Industry Trends
- Ceramics Drive Pyrophyllite Demand: Pyrophyllite's role as a critical raw material in ceramics is central to the market's growth. China, one of the world's leading ceramic producers, has witnessed significant growth in its industrial ceramic industry, with a market value of USD 29.4 billion in 2021, up from USD 28.18 billion in 2020. Furthermore, ceramics exports from countries like Indonesia surged by 30% in 2021, reflecting the robust growth of the ceramics industry in the Asia-Pacific region. The construction industry in the United States has also contributed to the demand for ceramic tiles, with ceramic tile shipments accounting for 918 million square feet in 2021.
- Asia-Pacific Region Leads Pyrophyllite Consumption: The Asia-Pacific region is at the forefront of pyrophyllite consumption, primarily driven by China and India. Major investments in facilities, such as PPG's USD 13 million investment in its Jiading, China, paint and coatings facility, have augmented the demand for pyrophyllite in the paint industry. Additionally, pyrophyllite's use in the paper and paint industries as a filler has led to an increase in exports of paper and paperboard from India by approximately 80% in 2021-22. In agriculture, pyrophyllite serves as a fertilizer carrier, enhancing soil nutrient retention. China, as the world's largest fertilizer manufacturer, recorded growth in nitrogen, phosphate, and potash fertilizer production in 2021, further boosting the demand for pyrophyllite.
Pyrophyllite Industry Overview
The Pyrophyllite Market is characterized by high consolidation, with a few major companies dominating the industry. Key players in the market include HANKOOK MINERAL POWDER CO. LTD., Shinagawa Shirenga Co. Ltd., Shokozan Kogyosho Co. Ltd., OHIRA CO. LTD., and Minkyung Industrial Co. Ltd., among others.
Conclusion
The Pyrophyllite Market is on a trajectory of significant growth, driven by the increasing demand for pyrophyllite in ceramics across diverse industries. The Asia-Pacific region is expected to lead in market consumption, reflecting the robust demand for pyrophyllite in various sectors, including construction, agriculture, and manufacturing.
A selection of companies mentioned in this report includes
- Anand Talc
- Hankook Mineral Powder Co. Ltd
- Idwala Industrial Holdings (Pty) Ltd
- Jinhae Pyrophyllite
- Minkyung Industrial Co. Ltd
- Ohira Co. Ltd
- Pt. Gunung Bale
- R.t. Vanderbilt Holding Company Inc.
- Samirock Company
- Shinagawa Shirenga Co. Ltd
- Shokozan Kogyosho Co. Ltd
- SKKU Minerals
- Wonderstone
For more information about this report visit https://www.researchandmarkets.com/r/ddfv4n
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