The global halloysite market size is estimated to attain USD 50.21 million by the end of 2025, registering a CAGR of 7.2% over the forecast period 2018 to 2025, according to a new report by Million Insights. Growing construction sector across Asia Pacific is contributing to increased demand for ceramics, which is projected to boost the market growth.
The market involves greater integration from the distribution and processing of raw materials required for the product. Key manufacturers in the market mainly focus on raw materials extraction which is directly responsible for consumption in end-industries.
In addition, key participants engage in collaboration with clay manufacturing to increase their sales & distribution network.
Governments legal regulations have approved the usage of halloysite in critical applications in the cosmetics & medical industries. Buyers emphasize more on product quality than the price. Thus, the prices of the product keeps on fluctuating according to product demand.
In addition, participants in the market follow regulations regarding the processing and mining of products. However, rising concerns about undesirable mining processes in halloysite extraction & clays may limit the market growth.
The halloysite market is moderately competitive in nature. Key players in the industry are Applied Minerals Inc, Imerys Ceramics, North star Mines LLC, and I-Minerals Inc. Key manufacturers focus on producing high-quality halloysite products.
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Further key findings from the report suggest:
• In terms of volume, the medical application segment is projected to grow at a CAGR of 7.1% over the forecast period.
• In 2017, the North America accounted for USD 6.05 million, owing to the rising demand for products from cosmetic formulations.
• China is estimated to grow at a significant CAGR of 7.6% during the forecast period. The growing construction sector is boosting the regional market growth.
• Small manufacturers in the industry emphasize product quality to have a competitive edge over others in the market.
Million Insights has segmented the global halloysite market based on application and region:
Halloysite Application Outlook (Volume, Tons; Revenue Thousand USD, 2014 - 2025)
Halloysite Regional Outlook (Volume, Tons; Revenue Thousand USD, 2014 - 2025)
• North America
• Asia Pacific
• Central & South America
• Middle East & Africa