By Infinium Global Research Aug, 2020
The Global Perlite Market is expected to grow at a CAGR of 7.25% & 6.65% between 2019 and 2025 in terms of value and volume. Perlite has outstanding insulation and lightweight characteristics so they are widely used in construction applications such as loose-fill insulation in masonry construction. Other than this, perlite also helps to enhance fire rating, reduce noise transmission, and provide insulation for the low temperature and cryogenic vessels in the construction sectors. The rapidly growing urbanization and industrialization in the developing countries which results in the robust growth of the construction and building industry. The growing construction industry drives the growth of the perlite market worldwide. In addition, the perlite has the distinguishing feature than other volcanic glass including high expansion, insulation, lightweight, and others that create the demand of perlites in various end-use industries such as Horticulture & Agriculture and chemical industries are expected to boost the growth of perlite market across all over the globe. However, the availability of Perlite substitutes for many of its applications may hamper the growth of the perlite market. For instance, the expanded clay is extensively used in the construction industry to produce lightweight concrete, blocks, and precast. The available substitutes of perlite include diatomite, expanded clay, shale, Vermiculite, and others. Moreover, the rising research and development activities by the market players to enhance the product portfolio and to improve the existing product is projected to create several opportunities for the perlite market in upcoming years.
Geographically, Asia-Pacific holds a major market share in the perlite market. The growing construction in the Asia-Pacific region creates a huge demand for perlite for the construction application which is driving the growth of the perlite market in this region. In addition, North America and Europe are having a significant market share in the perlite market owing to, production and the consumption of perlite for various application such as Cannabis Growing, Ceiling Tile Manufacturing, construction, plastic and films fillers, and others. The Stable construction and automotive industries in North America and the Europe region are likely to boost the perlite market in these regions.