The perlite market size is estimated to grow from USD 1.51 billion in 2017 to USD 2.20 billion by 2022, at a CAGR of 7.78%. Perlite is widely used in the construction industry as perlite is a durable, lightweight concrete material with excellent water retention properties, it is fire-resistant, and provides insulation to roof decks. Perlite is expanded over different temperatures according to its application areas. Perlite finds application in the construction, horticulture & agriculture, industrial, food & beverage, and water treatment sectors, among others. The changing lifestyles, growing urbanization trend, and the demand for sustainable building & infrastructure have resulted in architects and engineers innovating the design of concrete structures suited for various applications and requirements. On the flipside, tight project completion deadlines and increasing variable costs of construction present a challenge for efficient execution of the construction projects.
On the basis of foam, the market for perlite has been segmented into crude perlite and expanded perlite. The shifting interest of end-users toward perlite drives the growth of the perlite foam segment in the perlite market. The expanded segment is projected to grow at a higher rate during the forecast period. Factors such as high insulation, acoustic property, excellent water retention, and higher water density properties contribute to the demand for expanded perlite for infrastructural construction activities in emerging economies, globally. Also, the growth of this segment can be attributed to its application in end-use sectors such as construction, agriculture & horticulture, industrial, and food & beverages.
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The industrial sector is projected to be the fastest-growing sector in the perlite market due to its diverse applications, ranging from high-performance fillers for plastics to cement, and as a filtering agent for petroleum, water, and geothermal wells. In the industrial sector, expanded perlite is widely used for cryogenic insulation that requires insulation for extremely low (around -2000° C) to medium and high temperature including insulating concrete, refractory bricks, and underfloor insulation. Due to its heat-resistant property, perlite is also used in various applications in foundries. It is mainly used as an insulating agent in industrial applications. It is also widely used in pipeline insulation for industrial gases. These factors contribute to the growth of perlite in industrial applications.
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In 2016, Asia Pacific dominated the global perlite market, with China projected to be the fastest-growing country level market in this region, followed by India. In terms of market share, Asia Pacific was followed by North America, Europe, the Middle East & Africa, and South America. The increasing number of new housing units and huge investments in the infrastructural sector fuel the demand for perlite-based lightweight concrete material in this region. International and domestic players are incentivized to focus on the growing Asia Pacific market, considering the possible saturation of the perlite market in the developed economies of North America and Europe.
