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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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.
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