The global Perlite Market is expected to gain a significant CAGR in the forthcoming period. Perlite is commercially used for roof decking, concrete blocks, bitumized perlite, asphalt, fill in wallboards, cavity wall insulations, refrigeration plants, portable ice-boxes, and containers. In industries, perlite is used for foundry cores & molds and crucible toppings. Well cementing is carried out using perlite as a lubricant. A lubricant mud comprises water, clay, pozzolans, and the other materials to facilitate oil drilling, water, and geothermal wells. The lubricating mud is forced out of the well bore and casing is cemented to avoid the interference of corrosive waters and the other contaminants.
As perlite cement is unaffected by external heat and a small amount of material is lost in cementing operations. Owing to its ability to bridge gaps, perlite cement provides a more effective and low cost well cement. Perlite industry is driven by factors such as significant rise in infrastructure and agricultural sector resulting in superior buying activity by consumers. Rising urbanization and industrialization results in the increase in demand for perlite in construction sector.
Rise in competition for increased demand coupled with minimal raw material prices is anticipated to drive the perlite market in the forecast period. Stringent regulations and regulatory bodies governing the construction policies are also acting as a catalyst for perlite industry. Collaboration of key players with research agencies is also propelling the market.
However, significant costs coupled with low success probability is likely to restrict the market growth in the forecast period. “Application” segment for perlite market includes horticultural & agricultural, filtration and process aid, and construction products. Construction products are expected to witness the highest growth in the forecast period owing to rise in demand for durable, efficient and lightweight raw materials used in construction industry.
Perlite industry is regionally segmented into North America, Latin America, Europe, Asia-Pacific, Middle East and Africa. Asia-Pacific regions account for a dominant position in the global market due to the enormous investments in agriculture and infrastructure as perlite is used in brick manufacture, roof decks, well cementing, and roof insulation. North American market is also expected to gain a positive traction in the forthcoming period due to rise in initiatives for superior construction and increase in living standards. European market accounts for a higher CAGR in the global perlite market owing to enhanced construction activities and rising R&D. The key players in the perlite industry include Gulf Perlite LLC, Aegean Perlite SA, Supreme Perlite Company, Carolina Perlite Company, and Bergama Perlite.
Application Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
• Construction Products
• Horticultural & Agricultural
• Filtration & Process Aid
Regional Outlook (Volume, Kilotons; Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa
Research Support Specialist, USA