Global unexpanded perlite market size is expected to expand at a rapid pace in the foreseeable future, owing to the increasing rate of sandblasting activities in the Middle East.
To illustrate, the Bahrain Sitra oil refinery has been undergoing expansion and upgradation since 2012, to reach the production target of 360,000 barrels per day. Moreover, the Basrah Gas project is aimed at using the gas obtained from 3 oil fields in Iraq and converting it into electric energy, which can potentially power nearly 3 million homes.
Escalating oil and gas operations worldwide will continue to be the influencing factor fostering overall unexpanded perlite market dynamics, as these result in multiple sandblasting processes for refining and cleaning.
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As per Global Market Insights, Inc. estimates, the global unexpanded perlite market size is expected to surpass $11 million by 2024.
Filtration capabilities of perlite will influence business growth in years ahead
Unexpanded perlite products are gaining widespread applications as sand casters and slag coagulant. Perlite is also gaining widespread popularity for its filtration capabilities in the liquor industries. The material is generally used after the expansion of crude perlite.
As a result, the surging crude perlite extraction to support the growing demand from the perlite expanders is anticipated to give the global unexpanded perlite market a considerable boost in the coming years. Suppliers can benefit substantially from the increasing material acceptance as well as rising consumer spending on gardening.
Availability of alternate materials including dicalite may hinder market share
The global market could witness an unprecedented decline in the coming years, due to the availability of a wide range of alternatives to crude raw perlite, such as polymeric foams and dicalite. Additionally, the presence of minute particles in unexpanded perlite ore may also remain as a hindrance to the industry growth.
Unexpanded perlite finds increasing application in agriculture due to myriad benefits
In terms of segmentation by application, the global unexpanded perlite market from the agriculture segment is poised to depict a CAGR of around 3.7% through 2024, which can be attributed to its capability to enhance the water-holding capacity of the soil.
Furthermore, perlite has neutral PH and excellent aeration properties, which aids in increasing the lifecycle of the plant as well as the quality of the soil. The segmental growth can be further attributed to the increasing demand for raw perlite materials in various agricultural activities, which in turn, will significantly amplify the global unexpanded perlite market expansion over the estimated timeline.
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Rising number of shale gas in U.S. to offer considerable gains in market forecast
According to the regional landscape, the North America unexpanded perlite market registered remuneration worth $340,000 in 2016.
The United States accounts for the highest number of shale gas across the globe. The country produced nearly 3 million barrels per day in 2016 and is expected to increase constantly. This rising shale gas, coupled with its high application as slag coagulant in the oil & gas processing & recovery sector, will add impetus to the global unexpanded perlite market outlook over the forecast spell.
Key unexpanded perlite industry players include Dicalite Inc, Midwest Perlite, Hess Perlite, PVP Inc., Perlite-Hellas, Schundler Co., Gulf Perlite, Cornerstone Industries, and Imerys. These firms are focusing on expanding their geographical footprint by means of varied strategies such as R&D, M&A, and innovative product launches.
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