Robust growth trends in the construction sector globally over the years have left a palpable impact on expanded perlite market. Reportedly, the construction output in the U.K. is valued at over USD 145 billion each year and contributes nearly 7% of GDP, suggesting a substantial market for different construction materials and products.
Governments across the world are heavily investing in construction projects to enhance the infrastructure offerings of the country. The growing carbon emission levels and the subsequent need for sustainable construction solutions has magnified the need for green buildings in the residential, industrial, and commercial space.
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Realizing the burgeoning need for sustainable building solutions, the Green Building Council of Australia had established a plan to develop over 215 million square feet of certified green buildings across the continent through 2020. Similar efforts worldwide will foster expanded perlite market size, which is anticipated to cross USD1.34 billion market by 2024.
Developments in the oil and gas industry
AThe noticeable expansion in the global expanded perlite market is attributed to the product’s wide usage across various sectors of the economy. The oil and gas industry being one of the most prominent application spectrums has supported the demand for expanded perlite over the last few years.
The product is suitable for use in the filtration process during mining, drilling, and water treatment procedures. North America, led by the U.S., saw considerable demand for expanded perlite from oil and gas application due to the growing shale gas exploration across the region. As per reliable sources, the U.S. natural gas production during the year 2019 stood at 34 trillion cubic feet.
Key application in the beverage sector
Expanded perlite is considered safe for filtration across drinking water and other beverages due to its inertness. The substance is popularly used for percolation in breweries, particularly in the production of beer, globally. The product does not impart any taste, color, or odor in food and beverages, making them an extremely viable option.
Moreover, the approval to use the product has been given by recognized authorities such as the United States’ National Academy of Sciences as it is considered safe for consumption. During the year 2019, the overall beer market in the U.S. stood at USD 116 billion. However, the substance demand may be hampered by the availability of product substitutes such as barite, diatomaceous rock, and polymeric foams in the coming years.
The industry is highly fragmented with the presence of many competitors at a global level. Although the easy availability of product substitute leaves a threat, expanded perlite companies are constantly working at improving their offerings to meet the changing industrial demands. Some of the prominent market players include Aegean Perlites SA, Perlite-Hellas, Silbrico Corporation, Imerys SA, and Supreme Perlite Company, to name a few.
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The increasing construction spending especially in regions like MEA and APAC will positively influence expanded perlite market trends. Additionally, the increasing demand for beverages in most parts of the world due to the need for ready-to-drink solutions and changing lifestyles is sure to propel the need for expanded perlite in food and beverage production.