The Perlite market size is expected to grow at a CAGR of 7.0%, by value, during the forecast period. The market is estimated to be USD 1.6 billion in 2020 and is projected to reach USD 2.0 billion by 2025. The driving factor for the Perlite market is its growing demand from the construction industry.
It is expected that spending on capital projects and infrastructure will grow significantly over the next decade. China, India, and other countries in the Asia Pacific, along with South Africa and Brazil, are investing considerably in the building & construction industry. This investment is required for modernization and commercialization. Rapid urbanization in emerging markets such as India, Malaysia, Thailand, and Brazil are expected to boost the spending in vital infrastructure sectors such as power, construction, and transportation. Improving economic conditions in these emerging markets are projected to increase the use of perlite.
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Emerging economies have also been focusing on rapid industrialization over the last few decades. Countries such as India, Indonesia, South Africa, Brazil, and Argentina are transforming their economies from being agricultural-based to manufacturing and other industries. With the emergence of new industries, the need for industrial construction is also increasing; this is creating scope for perlite to be preferred over other aggregates.
Perlite is used as an aggregate in lightweight insulating concrete and plaster in masonry blocks as loose fill insulating material, as a cavity wall in residential homes, and also in specialty applications such as chimney fills, fireproofing sprays, acoustical sprays, and interstitial floors. Expanded perlite aggregate (EPA) is used as a heat & sound insulator since it is a lightweight material that ensures economic benefits in building & construction.
Asia Pacific accounted for the largest share of the Perlite market in 2020. Factors such as the rapidly increasing consumption of perlite in the intimate apparels and sportswear industries in countries such as China, Japan, India, South korea, and Australia have led to an increased demand for Perlite in the Asia Pacific region.
Imerys Minerals (UK), Keltech Energies (India), Dupré Minerals (England), Amol Dicalite (India), and other players are the leading perlite manufacturers globally.
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