Unexpanded perlite market from Agricultural application exceeding at 3.7% CAGR during the forecast time period

Sellbyville, DE -- (SBWire) -- 10/09/2018 --Unexpanded Perlite Market from North America generated more than USD 340 thousand in 2016 for slag coagulant applications. The U.S. generates the highest number of shale gas in the world. It produced over 3,000 thousand barrels per day in 2016 and this trend is believed to rise constantly which would directly boost the unexpanded perlite market size. Above all, the U.S. shale industry boom has propelled the product demand for its application as slag coagulant in the shale oil & gas recovery and processing sector.

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Unexpanded Perlite Market size is forecast to exceed USD 11 million; according to a new research report by Global Market Insights, Inc. Extensive sandblasting activities ongoing in the middle-east countries due to the increase in oil and gas activities in the region is expected to propel the unexpanded perlite market by 2024. For example, in Bahrain Sitra oil refinery is going through an expansion and upgradation process which incurs an investment of over USD 4 billion. The upgradation began in 2012, to expand its production of 267,000 barrels per day to 360,000 barrels per day. In Iraq, the Basrah Gas Project is being implemented to develop the gas obtained from three oil fields in Iraq: West Qurna, Rumaila, and Zubair.

These three fields produce a total of 1 billion cubic feet per day. The expansion operation aims to use these gasses and turn it into electricity which would generate roughly 4.5 GW of electricity per day, enough to supply around three million homes with electricity. The aforementioned oil and gas operations would surely incur numerous sandblasting processes for cleaning and refining which would positively drive the raw perlite market size in the near future.

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Presence of several substitutes for crude perlite such as dicalite, polymeric foams, etc. may prove to be a hindrance for the unexpanded perlite market. Perlite ore contains very minute particles that can cause breathing ailments. This may impede the raw perlite market by 2024. Although, rising perlite applications as slag coagulant and sand casters would generate colossal prospects for the unexpanded perlite market in the projected timeframe. Perlite is even popular for its filtration processes in the liquor industries, but it is used after the crude perlite is expanded. Therefore, it would increase the extraction of crude perlite owing to the demand from perlite expanders during the forecast timespan.

Agricultural application claims the highest CAGR of over 3.7% during the forecast period boosting the unexpanded perlite market size. Crude perlite has its most extensive application in the agriculture sector due to its use as the soil improver. Its water absorbing properties reduces the cost of watering and energy spend for watering which benefits the market and the environment as well since it helps in the preservation of water. Its excellent aeration properties and neutral PH helps in increasing the life span of the plant and the quality of the soil. Escalating demand for raw perlite in the agricultural activities is propelling the raw perlite market size during the forecast timeframe.

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Main raw perlite market players are Imerys, Cornerstone Industries, Gulf Perlite, Schundler Co., Perlite-Hellas, PVP Inc., Hess Perlite, Midwest Perlite and Dicalite Inc. Major competitors are engrossed in creating strategic ventures with medium or small players and is investing heavily in R&D processes and perlite extraction for the creation of new products such as ImerCare which is a perlite scrub products launched in 2016 by Imerys to widen its product range.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.