Unexpanded Perlite Market 2020: Industry Growth, Competitive Analysis, Future Prospects and Forecast 2024

Unprecedented growth in the construction sector over the years due to economic improvements has positively influenced global unexpanded perlite market size. Perlite is basically an amorphous volcanic glass that comprises of a superior water content which is formed by the hydration of obsidian. These occur naturally and have the ability to expand when heated sufficiently.

Unexpanded perlite, also referred to as crude perlite, has a wide application spectrum such as in the casting of sand and mixtures, slag coagulation, and agriculture. Its high resistance to heat has proven to be beneficial in the manufacturing of refractory bricks, pipe insulation, and mortars. The material is used in the retention of heat in ferroalloy industry and foundry. Small quantities are even used in cryogenic insulation and ceramics as clay.

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The unexpanded perlite market comprises of various producers that aim at improving the product portfolio with an aim to expand their geographical footprint as well as to achieve a competitive advantage. Some of the prominent unexpanded perlite market players include Dicalite Management Group, Hess Perlite, The Schundler Company, Midwest Perlite, and Gulf Perlite LLC.

Unexpanded Perlite Market | Extensive use of the product in construction

Unexpanded perlites are widely used in the construction industry due to their sandblasting application and since the product comprises high heat resistance and insulating product properties that help in eliminating impurities during the sandblasting process. Sandblasting is a surface treatment process in which a solid surface is cleaned, shaped, and smoothened with the help of solid particles at a high speed.

Developing nations, like those in Asia Pacific, have witnessed exponential developments in regional construction industry due to the growth in the industrial sector and the consequent developments in the residential and commercial projects. FDIs received by Asia Pacific companies due to heavy investments made by foreign companies in various sectors in the economy has amplified the need to develop advanced commercial, residential and industrial establishments.

As per reports, FDI flowing into Singapore witnessed a spike from USD 62 billion in the year 2017 to approximately USD 77 billion in the year 2018. The measures undertaken by the governments in APAC to improve the infrastructural landscape will magnify the regional demand for the material. According to reports, the Indian government is expected to spend close to USD 1.4 trillion towards infrastructure development by the end of 2024.

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Unexpanded Perlite Market | COVID-19 and its impact on the production

The ongoing coronavirus pandemic has adversely affected businesses across the globe, ranging from FMCG to automobiles. The construction sector has witnessed a huge fall in due to the temporary restrictions on the movement of people from their homes as imposed by the governments to reduce the spread of the virus as well as the movement of supply chain, subsequently leading to the inadequate supply of raw materials to fulfill construction.

Crude perlite has also witnessed a fall in production due to the lack of employees working at the facilities to meet the manufacturing needs. However, with time, the governments are gradually lifting the restriction to facilitate economic development and to save the nations from an acute financial crisis, which will support the businesses in the near future.

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