by The Expanded Perlite Market is estimated to be valued at US$ 1.51 Bn in 2023 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Expanded perlite is a naturally occurring volcanic glass that can expand up to 20 times its original volume when heated. This expansion occurs due to the presence of chemically combined water in the raw material. Expanded perlite offers exceptional moisture management, low thermal conductivity, and acoustic insulation properties. As a result, it finds wide applications in various end-use industries such as construction, horticulture & agriculture, industrial, and others. In the construction industry, expanded perlite is used as a lightweight aggregate in plaster, concrete block, and insulating concrete. It provides high strength and helps regulate temperature and moisture by trapping air. In horticulture & agriculture, it is used as a soil additive to improve aeration, drainage, and water retention.
Market Dynamics:
Expanded perlite market is primarily driven by the growing construction activities and increasing demand for insulation materials in the construction industry. According to the Global Construction 2030 report, the volume of construction output globally is anticipated to grow by 85% to $15.5 trillion by 2030. Growing construction of residential and commercial buildings is propelling the need for insulation materials to improve the energy efficiency of buildings. Expanded perlite offers high insulation value while being lightweight and low-cost. Additionally, surging population and shifting consumer preference toward organic farming is augmenting the demand for expanded perlite in horticulture & agriculture applications. The benefits of expanded perlite in creating aeration and retaining moisture and nutrients in soil is fostering its use in various farming activities. However, availability of substitute products might hamper the market growth over the forecast period.
Segment Analysis
The expanded perlite market is dominating by the filler and filer aggregates segment. This segment accounts for over 60% of the total market share as the product finds wide application in construction, horticulture and several other industries due to properties like light weight and high absorption capacity.
PEST Analysis
Political: The governments across the globe are supporting infrastructure development projects which is positively impacting the demand for perlite products.
Economic: The growth in construction, manufacturing and agriculture industries is driving the economic growth of many countries thereby increasing the demand for expanded perlite.
Social: Rising population and urbanization is fuelling the construction of residential and commercial infrastructure leading to higher consumption of expanded perlite as a filler and insulator.
Technological: Developments in processing technologies have improved the powderizing efficiency and enhanced product quality of expanded perlite resulting in new application opportunities.
Key Takeaways
The global Expanded Perlite Market Share is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing investments in infrastructure development projects across developing nations. Regionally, Asia Pacific holds the largest share in the expanded perlite market owing to rapid urbanization and growth in end-use industries in countries like China and India.
The filler and filer aggregates segment dominates the market with over 60% share due to wide application of expanded perlite in construction, horticulture, and other industries attributed to its light weight and high absorption properties.
Key players operating in the expanded perlite market are Imerys SA, Termolita S.A., Aegean Perlites SA, Perlite Hellas, Cornerstone Industrial Minerals, The Schundler Company, Gulf Perlite LLC, Keltech Energies Ltd., Silbrico Corporation, Perlitsan, Blue Pacific Minerals, Dupré Minerals Limited, Midwest Perlite Inc., Hess Perlite, Dicalite Management Group, Perlite Vermiculite Packaging Industries, Pratley Perlite Mining Co (Pty) Ltd., Brasil Minérios, Perlit-92 Kft, Cevahir Perlit Madencilik. These players are focusing on production capacity expansion and new product development to strengthen their position in the market.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
