Ocean View, DE -- (SBWire) -- 04/24/2020 --According to the new research report, Unexpanded Perlite Market size was estimated at USD 8 million in 2016 and is projected to surpass USD 11 Million by the year 2024.
Over the recent years, the growth prospects of worldwide unexpanded perlite market have continued to witness a substantial upswing. A marked increase in the number of research and development initiatives undertaken by prominent perlite miners to manufacture products with enhanced characteristics are likely to bolster the overall unexpanded perlite industry share in the forthcoming years.
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Driven by the rapid pace of industrialization & urbanization across the various emerging economies in Asia Pacific region, the unexpanded perlite market size has proliferated at an unprecedented pace in the recent years.
The ever-increasing urbanization has apparently led to a marked rise in construction and industrial sectors across nations like India and China. This has, in consequence, further triggered extensive mining activities to obtain more perlite for its application across the aforementioned business verticals.
Growth Drivers are -
- Robust growth in the construction industry in Asia Pacific and the Middle East
- Growing agriculture business
As per reliable sources, China had doubled the perlite production as it discovered more than 15 mines in 2008 – a factor that would certainly foster the utilization of crude perlite across numerous applications which comprise of sandblasting, slag coagulant, and casting sand & mixtures, etc. Apparently, owing to the aforementioned aspects the Asia Pacific unexpanded perlite industry share is likely to register revenue gains in excess of 4% over the forecast time frame, as per trusted estimates.
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Meanwhile, it would be prudent to mention that unexpanded perlite market share is reasonably consolidated courtesy – the presence of some prominent names in polymers and advanced materials industry such as Pratley Perlite Mining, Midwest Perlite Inc, Cornerstone Industrial Minerals Corporation, the Schundler Company, Perlite-Hellas, Imerys SA, Gulf Perlite LLC, Hess Perlite, Dicalite Management Group, PVP.
Furthermore, endowed with an application base inclusive of construction, slag coagulant, sandblasting, agriculture, casting sand & mixtures, the unexpanded perlite industry has undeniably evolved into a consumer-centric business over the past years.
Unexpanded perlite market by application
- Slag Coagulant
- Sandblasting
- Agriculture
- Casting sand & mixtures
- Others
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Subsequently, the globally renowned manufacturers have been striving to develop value-added and highly customized solutions to suit the diverse requirements of consumers. As a consequence of the aforementioned declarations, the unexpanded perlite market is anticipated to surpass a total revenue collection of USD 11 million by 2024, as per reliable estimates.
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