Albany, NY -- (SBWire) -- 10/04/2017 --The global expanded perlite market has a largely fragmented vendor landscape, featuring a large number of perlite expanders across the globe, observes Transparency Market Research (TMR) in a recent report. The market is highly competitive and companies are focused on the identifications of new applications for the material as an important catalyst for growth. Low entry barriers and a risk of backward integration are expected to further intensify the level of competition in the market in the next few years.

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The market is mostly composed of domestic and regional vendors that serve local markets and is expected to continue to lack a consolidated, solid structure in the near future as well. This pattern of the competitive landscape has emerged over the years as it is cheaper to in-house expand crude perlite than transporting finished expanded perlite and is expected to remain unchanged. Some of the leading companies in the market are Supreme Perlite Company, Aegean Perlites SA, Cornerstone Industrial, Schundler Company, Keltech Energies, Perlite-Hellas, and Perlite Vermiculite.

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Transparency Market Research estimates that the market will exhibit a promising 7.3% CAGR over the period between 2015 and 2023, rising to an opportunity of US$1.2 bn by 2023.

Rising Consumption in Asia Pacific to Help Global Market Attain Encouraging Growth Prospects

In terms of application, the construction sector is presently the leading consumer of expanded perlite and is expected to remain the key determinant of the future growth prospects of the global expanded perlite market over the report's forecast period as well. From a geographical standpoint, the market for expanded perlite in Asia Pacific surpassed other regional markets in terms of volume-wise share in the global market. The regional market held over 30% of the global expanded perlite market in 2014, thanks chiefly to the material's vast applications across the construction, personal care, and oil and gas industries. The region is also expected to surpass other regional markets in terms of pace of growth over the report's forecast period.

High Demand in Construction Sector to Present Promising Growth Opportunities

The global market for expanded perlite is significantly impacted by the development of the construction sector owing to the vast use of the material across a number of applications in the industry. Thus, the upward swing in a variety of construction projects in a number of developing and developed countries across the globe in the recent years is expected to have a palpable influence on the growth trajectory of the market in the near future.

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The expansion of the beer industry, another key user of expanded perlite, across unconventional regional markets is also expected to help ramp up the global consumption of expanded perlite. The market could also benefit from the increased usage of the material for filtration purposes in the oil and gas industry as well as its increased consumption in the horticulture sector.

Easy Availability of Substitutes Threaten to Eat into Market Revenue

The market's growth prospects are threatened to a certain extent owing to the availability of several substitutes that are easily available across the world. Nevertheless, focus on emerging applications of the material across emerging applications such as personal care could help soften the blow of this restraint for companies in the expanded perlite market. Focus on expansion across high growth potential regional markets is also expected to help companies in the global expanded perlite market stay on the safer side of competition.

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