(MENAFN- GlobeNewsWire - Nasdaq) New York, United States , Nov. 10, 2023 (GLOBE NEWSWIRE) -- The Global Perlite Market Size is to Grow from USD 1.62 Billion in 2022 to USD 3.08 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.6% during the projected period. The rising adoption of perlite in various applications such as plaster, mortar, ceiling tiles, concrete, and others in several end-user including construction, horticulture & agriculture, industrial, and others is expected to boost the demand for the perlite market during the forecast period.
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Perlite, often known as pearl stone, is a crystalline rock created by the rapid cooling of molten lava. It has a high silicate ratio and comes in a range of colors such as green, gray, brown, blue, and red. Perlite is an amorphous aluminum silicate with great heat resistance, low volumetric density, low sound transmission, a large surface area, and low electrical and thermal conductivity. The rising popularity of perlite in building segments, owing to its advantageous properties such as low combustion rate and reduced noise transmission, is expected to propel the worldwide perlite market ahead. Perlite is commonly used in agriculture to limit the growth of anaerobic bacteria. Because of its thermal and mechanical stability, non-toxicity, and high resistance to microbial assaults and organic solvents, perlite is also widely used in biotechnological applications. The increased demand for perlite in the agricultural, construction, and infrastructure industries is expected to drive the market during the forecast period. Furthermore, when new businesses emerge, so does the demand for industrial construction, creating the potential for perlite to be preferred over alternative materials. Furthermore, the rising usage of perlite in applications such as water waste filtration and soil conditioning will provide further potential for growth in the perlite market in the coming years.
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The construction segment accounted for the largest revenue share of more than 46.2% over the forecast period.
On the basis of end-user, the global perlite market is segmented into construction, horticulture & agriculture, industrial, and others. Among these, the construction segment is dominating the market with the largest revenue share of 46.2% over the forecast period. The building and construction industry utilizes the lion's share of the perlite market volume. The long-lasting, lightweight, and cost-effective features of perlite in the building industry are likely to drive market expansion over the forecast period. Furthermore, expanded perlite aggregate (EPA) is used as sound and temperature insulation because it is a lightweight material with financial benefits in architecture and construction.
The expanded segment is dominating the market with the largest revenue share over the forecast period.
On the basis of form, the global perlite market is segmented into the crude and expanded. Among these, the expanded segment is dominating the market with the largest revenue share of 88.6% over the forecast period. Chemically inert, non-toxic expanded perlite serves as a thermal, electric, and acoustic insulator. One of the many advantages of perlite is that it is commonly utilized in the formulation of personal care items such as soaps and scrubs. It also has a lot of qualities, including excellent moisture absorption and high insulation.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 48.7% market share over the forecast period. Market expansion in the region is expected to be supported by the region's increasing infrastructure in countries such as India, China, Malaysia, Thailand, and Japan. The increased usage of perlite in horticulture has resulted in extraordinary yields in agricultural production. The use of an irrigation system can also increase yield, which encourages the use of perlite. Perlite is also used as a filler in the construction sector for ceiling tiles, floor heating insulation, highway sound-absorbing walls, and other purposes. On the other hand, North America is predicted to expand the fastest during the forecast period. The region's perlite market is expected to grow as the region's commercial construction industry increases.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market Major vendors in the Global Perlite Market include Amol Minechem, Keltech Energies Ltd., Imerys Minerals, Dupré Minerals, Supreme Perlite Company, IPM Group of Companies, Cevahir Perlite, EP Minerals, Genper Group, The Schundler Company, Bergama Mineral Perlite, Aegean Perlites SA, Azer Perlite Corporation, Profiltra BV, Coxmin Minerals Ltd., Mianeh Perlite Expanding Co. Ltd., Exfoliators Pty Ltd. among others.
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Recent Development
On February 2023, Titan Cement has purchased a stake in Aegean Perlites. On the island of Yali, the firm has perlite and pozzolan quarries. It can also use port facilities. Titan Group says it is increasing its volume of pozzolan-based cementitious products with a reduced clinker factor by investing in direct access to pozzolan sources.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Perlite Market based on the below-mentioned segments:
Perlite Market, Form Analysis
Perlite Market, Application Analysis
Plaster Mortar Ceiling Tiles Concrete Others
Perlite Market, End-User Analysis
Construction Horticulture & Agriculture Industrial Others
Perlite Market, Regional Analysis
North America Europe Germany Uk France Italy Spain Russia Rest of Europe
Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific
South America Brazil Argentina Rest of South America
Middle East & Africa UAE Saudi Arabia Qatar South Africa Rest of Middle East & Africa
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