Vermiculite
is a hydrated magnesium aluminum silicate mineral, found in abundance
across the globe, which resembles mica in appearance. It is used
extensively to manufacture molded shapes for open fire places, high
temperature insulations, and fireproofing of structural steel and
pipes. It is also used in automotive industries for preparing brake
linings as vermiculite possess extra-ordinary thermal resistance.
Vermiculite has wide range of applications in which it is used, such
as floor and roof screeds and concretes, used as soilless media in
hydroponics, soil enhancer etc. Vermiculite market is expected to
increase with a significant CAGR over the forecast period, owing to
its extra-ordinary applications in several industries. Owing to
increasing innovations in automotive industry, roof insulating
concretes, etc. Vermiculite market is expected to witness robust
growth over the forecast period.
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Vermiculite
Market: Segmentation
Vermiculite
is found in various regions across the globe such as Brazil,
Australia, South Africa, Russia, etc. Vermiculite market is
segmented on the basis of product type and application.
On
the basis of product type, vermiculite market is segmented into crude
vermiculite and exfoliated vermiculite. Exfoliated vermiculite holds
relatively high value share as compared to crude vermiculite.
On
the basis of application, vermiculite market is segmented into
construction, chemical industry, automotive industry, agriculture,
and others (animal feed stuff). Construction segment is further
sub-segmented into building plasters, ultra and light weight
aggregates and concretes, Insulation, and roofing systems.
Vermiculite
Market: Drivers, Restraints and Trends
Increasing
use of vermiculite in hydroponics and agriculture industry is
expected to boost the sales of vermiculite market, as awareness of
hydroponics is increasing among individuals. Vermiculite forms
soilless media for growth of plant, and it is also used as enhancer
for soil. Extensive use of vermiculite in aluminum smelting industry
as an insulator is also expected to back the sales of vermiculite
market. Automotive and construction industry is also playing a key
role in increasing sales of vermiculite market as vermiculite is used
in preparing roof concretes, construction plasters, and brake linings
in automotive.
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Vermiculite
Market: Regional Outlook
On
the basis of region, the vermiculite market is segmented into 7 key
regions: North America, Latin America, Western Europe, Eastern
Europe, Asia Pacific excluding Japan, Middle East and Africa and
Japan.
On
the basis of production, Middle East and Africa and Asia-Pacific
holds the highest position in vermiculite market. A considerable
amount of vermiculite is exported from South Africa and China.
Vermiculite market is expected to increase in these regions over the
forecast period with significant CAGR.
Europe
holds significant value share of global vermiculite market which is
expected to witness an upsurge in upcoming years.
In
terms of consumption of vermiculite in the region, North America
holds relatively high share and is expected to continue the trend
over the forecast period.S.
Vermiculite
Market: Key Players
There
are number of key players that manufacture Vermiculite across the
globe. Some of the prominent players are Palabora Copper (Pty)
Limited., Virginia Vermiculite LLC, White Knight Minerals Private
Limited., Dupré Minerals Limited., Whittemore Company Inc.,
Exfoliators (Aust) Pty Ltd, Palmetto Vermiculite Company, Mughal
Ceramics Industry and various other manufacturers that operate
globally.
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