The global kaolin market is
expected to reach USD 8.99 billion by 2024, according to a new report by Grand
View Research, Inc. Rapid urbanization coupled with infrastructural development
has resulted in tremendous growth in the construction sector of emerging
economies including India, China, Russia, and Brazil. This is anticipated to
augment kaolin market demand.
Rising
demand for paper packaging is expected to fuel product demand owing to its
enhanced properties such as reinforcement and durability of the base material.
Increasing application in novel applications including printing inks and
Portland cement is expected to open new opportunities for growth over the
forecast period.
Growing
demand for ceramic products is expected to be one of the primary drivers for
market growth. In addition, rising demand for rubber, paper, paints &
coatings and fiberglass is projected to augment market development.
The presence
of regulations in the U.S. including the Clean Water Act and Surface Mining Act
to preserve the ecology is expected to restrain market growth to a certain extent.
However, unavailability of direct substitutes for kaolin has resulted in its
substantial demand over the past few years, and this trend is expected to
continue over the forecast period.
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Further key findings from the study suggest:
- Paper emerged as the most dominant application segment in the kaolin market and constituted for more than 40% of market share by revenue share in 2015. Demand for eco-friendly packaging materials including paper has been growing over the past few years on account of growing apprehensions regarding environment protection will augment product demand over the next eight years.
- Asia Pacific dominated the product market with the industry valued over USD 1.00 billion in 2015. The market is anticipated to experience growth over the forecast period owing to rising demand from the construction sector in China, Indonesia, and India. Increasing R&D expenditure to increase product use in non-traditional application segments such as plastics, rubber and pharmaceuticals are expected to open new growth opportunities over the forecast period.
- Key industry players include Imerys SA, Thiele Kaolin, I-Minerals Inc., SCR-Sibelco N.V., KaMin LLC. and Quarzwerke GmbH. Key strategies observed in the industry include mergers & acquisitions and joint ventures. In May 2013, Quarzwerke GmbH purchased a significant share in Kaolin AD which is a Bulgaria-based processing and mineral extracting company.
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About
Grand View Research:
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Email:
sales@grandviewresearch.com
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