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.