Perlite Market Growth, Opportunities, Share, Industry Trends, Geographical Insights, Size, Key Segmentations, and Forecast Report
The global perlite market size is estimated to grow from USD 1.4 billion in 2020 to USD 1.9 billion by 2025, at a CAGR of 6.3% during the forecast period. The market is projected to witness decent growth shortly, owing to the wide application in various end use industries of perlite ranging from construction industry. Increasing demand from APAC will further drive the growth of the global perlite market.
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Perlite has various beneficial properties of aeration and optimum moisture retention for the superior growth of plants. When perlite is used in the green roofing system, it is considered as the only growing medium for plants on roofs. This has become a popular trend nowadays, as it offers unique sustainability to insulate the roof and also further add foliage to the surface. Other benefits of perlite in agriculture & horticulture are its neutral pH property and as it is sterile and weed-free.The horticulture & agriculture segment is the fastest segment of the global perlite market with a CAGR of 7.0%, in terms of value.
Asia Pacific accounted for the largest share of the Perlite market in 2020. Factors such as the rapidly increasing consumption of perlite in the intimate apparels and sportswear industries in countries such as China, Japan, India, South korea, and Australia have led to an increased demand for Perlite in the Asia Pacific region.
Imerys Minerals (UK), Keltech Energies (India), Dupré Minerals (England), Amol Dicalite (India), and other among others are the leading perlite manufacturers, globally. These companies adopted expansion, and merger & acquisition as their key growth strategies between 2017 and 2020 to earn a competitive advantage in the perlite market.
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Imerys Minerals (UK) is the largest player in the market. In October 2020, IMCD US and IMERYS Minerals expanded their distribution agreement. IMCD will now represent IMERYS Performance Minerals as its preferred distributor across the U.S. and Canada.
In June 2020, IMERYS Performance Minerals acquires Cornerstone Industrial Minerals Corp. The acquisition was done to strengthen its offering in the agriculture and horticulture markets.
In December 2019, Keltech Energies expanded its existing & addition of new explosive products at Village Garamsur, Post Dudhala, Tahsil Katol, District Nagpur. The total cost of the project after expansion was Rs. 63.17 crores.
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