Perlite is a naturally occurring volcanic, amorphous, and siliceous rock having high water content. After heating sufficiently, the molecules of water are released, upon which perlite expands to 4-20 times its original volume. Perlite is commonly used as an industrial mineral due to its feature of expansion.
Construction Industry to Generate Demand for Perlite in Global Market
The construction industry started to build demand for perlite since it entered its recovery phase following the economic slowdown in the latter years of the previous decade. The global perlite market is segmented on the basis of application and geography. Based on application, the global perlite market is classified into construction, foundries, filtration, horticulture, cryogenic, and ceramics as clay additive. The global perlite market was dominated by the construction application segment in 2014. The construction application segment is expected to maintain its dominant position till 2020. Perlite, primarily, is used as an additive in plasters, lightweight insulation, ceiling tiles, and mortars in the construction industry. Considering its high permeability, the demand for perlite from the filtration and horticulture market is expected to increase in the years to come. Perlite is also being widely used for beer filtration. It is also used as the perfect alternative to diatomaceous earth in various filtration applications.
Growing Industrial Applications to Increase Demand for Perlite in Asia Pacific
Based on geography, the global perlite market is divided into North America, Europe, Asia Pacific, and Rest of the World. In 2014, Asia Pacific dominated the global perlite market and is expected to maintain its dominant position in the years to come. High demand from the construction industry and lax regulatory bans are the factors responsible for the growth of the global perlite market. The recovering construction industry in North America and Europe is predicted to generate more demand from these two regions.
China is the biggest supplier of perlite, followed by the U.S., Greece, and Turkey. Leading companies in the global perlite market are expected to face high competition in the years to come. Some of the prominent players in the global perlite market are Pratley Inc., Perlite Co., Harborlite Corp, P.V.P. Industries, Inc., Midwest Perlite Inc., California Shake corp., Omran Moomun Chabahar, and Imerys. Increasing government expenditure on development of infrastructure is predicted to boost the global perlite market in the coming few years.
Increasing industrial applications of perlite are predicted to multiply its demand during the forecast period. Some of the common industrial applications of perlite are cement for water, geothermal wells, petroleum, performance fillers for plastics, and filter media for food.
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As the construction industry is on its recovery stage, the demand for perlite is predicted to increase in the years to come. Factors such as easy sustainability and availability of perlite resources are responsible for the growth of the global perlite market in the years to come. Increasing demand for perlite as a mineral will further boost the global perlite market during the period between 2015 and 2020. Introduction of new applications in numerous fields such as horticulture and filtration is expected to be the major growth opportunity for the global perlite market in the coming few years.