Growing organic and ecological plants, fields background
Overview and Scope
Perlite refers to the process of mining perlite and its compounds. Perlite is mined by using precise blasting or large gear to rip or chop the material out of the ground. Perlite refers to a volcanic glass that has a concentric structure and is often used for industrial purposes.
Sizing and Forecast
The perlite market size has grown exponentially in recent years. It will grow from $1.7 billion in 2023 to $2.19 billion in 2024 at a compound annual growth rate (CAGR) of 28.9%. The growth in the historic period can be attributed to construction industry growth, agricultural applications, oil and gas exploration, metallurgical processes, horticulture and landscaping .
The perlite market size is expected to see exponentially grown in the next few years. It will grow to $4.51 billion in 2028 at a compound annual growth rate (CAGR) of 19.8%. The growth in the forecast period can be attributed to growing construction sector, increasing demand in horticulture, renewable energy projects, advancements in metallurgical processes. Major trends in the forecast period include innovation in product formulations, circular economy initiatives, digitalization in mining and processing, enhanced focus on energy efficiency, bio-based perlite alternatives.
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Segmentation & Regional Insights
The perlite market covered in this report is segmented –
1) By Type: Construction Products, Horticultural and Agricultural, Industrial Perlite, Filtration and Process Aid, and Other Types – Perlite
2) By Mining Type: Underground Mining, Surface Mining
North America was the largest region in the perlite market in 2023.The regions covered in the perlite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
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Major Driver Impacting Market Growth
The growth in the perlite market is due to the increasing demand for mining. Mining refers to the process of extracting useful materials from the earth. The majority of perlite is used in construction products, mainly ceiling tiles and roof insulation products, but also as refractory bricks (a refractory brick is a brick designed to withstand very high temperatures), pipe insulation, and filling in masonry block construction. For instance, in January 2023, according to the United States Geological Survey, the consumption of domestically processed crude perlite in the United States in 2021 was estimated at 500,000 tons, valued at $34 million. This marked a $4 million increase compared to the $31 million value in 2020 . Therefore, the increased demand for mining in is driving the growth of the Perlite market.
Key Industry Players
Major companies operating in the perlite market report are Aegean Perlites SA, Bergama Perlite, Australian Perlite Pty Limited, Carolina Perlite Company, Supreme Perlite Company, Midwest Perlite, Whittermore Company Inc., Termolita S.A.P.I. de CV, Silbrico Corporation, Saudi Perlite Industries, Procema Perlit SRL, Pratley, Persolite Products Inc., Accimin SA DE Cv, Pennsylvania Perlite Corporation, Norcal Perlite Inc., Ausperl Pty. Ltd., Alvand Chemical Company, Cevahir Perlite, EP Minerals, Dicalite Management Group Inc., Exfoliators Pty Ltd, Genper Expanded Perlite Industry Business Co., Gulf Perlite LLC, IPM Industries, Keltech Energies Ltd., Dicaperl Minerals Corp, Zhongyan, Luoyang Zhongsen Refractory Co.Limited, Perlite Hellas, Cornerstone Industrial Minerals, The Schundler Company
The perlite market report table of contents includes:
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