Expanded perlite market: Industry Potential, Trends and forecast 2016 - 2024
Vigorous growth in the construction sector is slated to be the major factor driving the expanded perlite market growth over the coming seven years. Inclination towards green roofs, rising demand for water filtration, and wide set of perlite applications in horticulture will significantly enhance the global expanded perlite market outlook over the coming years. According to Global Market Insights, Inc., “expanded perlite market is expected to record a CAGR of 7.3% over the period 2016-2024”.
Construction industry generated a revenue of USD 8 trillion in 2015 and is assessed to attain a revenue of USD 13 trillion by 2024. The increasing infrastructure spending will in turn create a profitable roadmap for the expanded perlite industry over the coming years. Furthermore, subsequent use of energy efficient materials in oil & gas industry will also have a positive impact on the expanded perlite industry over the next few years.
Another profound factor which is highly influencing the expanded perlite market trend is the notable growth in the beer industry worldwide. In 2015, global beer production was 190 gigalitres and is anticipated to have sharp slope reaching 210 gigalitres over the projected period, which will substantially favor the growth trajectory of expanded perlite industry.
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In addition, expanded perlite is extensively used in process aid applications such as mining, water treatment plants, shale gas drilling etc. Global horticulture production accounts for 22% to 26% of the total volume of animal product trade which also ensures a sustained growth track for the expanded perlite market.
North America led by US and Canada, Asia Pacific dominated by China, Europe run by Germany, UK, and France are the major revenue compartments in the expanded perlite industry. For instance,20% of the global construction was solely accounted by China which propelled the expanded perlite market size by many folds and is projected to continue its dominance in future.
By application, expanded perlite market is fragmented into horticulture aggregate, constructional products, fillers, and filtration & process aid. Expanded perlite market size in construction products is likely to witness a CAGR of 3% from 2016 to 2024.The consumption of expanded perlite in filtration applications is sharply rising owing to the product’s inertness, making this sector a lucrative ground for the expansion of the expanded perlite industry.
Prominent industry participants in the expanded perlite industry include Aegean Perlites SA, Supreme Perlite Company, Perlite Hellas, Cornerstone industrial.
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