Dublin, Dec. 12, 2023 (GLOBE NEWSWIRE) -- The "Pyrophyllite Market Size, Share & Trends Analysis Report By Application (Ceramics, Refractories & Foundries, Fillers), By Region, And Segment Forecasts, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The global pyrophyllite market size is expected to reach USD 102.6 million by 2030. The market is expected to grow at a CAGR of 5.3% from 2023 to 2030. The growth is projected to be driven by the growing investments in the ceramics sector and rising demand from industries such as paints and coating, iron and steel, cosmetics, plastics, agriculture, and rubber. 
The demand for ceramics has gained importance in recent years owing to the flourishing construction industry, which directly fuels the demand for the mineral and its consumption. Pyrophyllite is useful in the production of stoneware and chinaware because it enhances mechanical strength and increases whiteness, at lower firing temperatures. It remains stable up to 800C, making it valuable in refractory applications and various ceramic products like wall tiles, sanitary ware, and electrical porcelain.
Infrastructure development activities have increased significantly across the world owing to a number of initiatives undertaken by governments of different countries. Asia Pacific is expected to maintain its dominance in the market over the forecast period. Emerging economies in Asia Pacific, including India, Japan, Bangladesh, Indonesia, and Vietnam, are all witnessing rapid urbanization. This leads to the surged construction and infrastructure development activities in these countries, thereby fueling the demand for pyrophyllite in them.
The growth of the global paints and coatings industry is closely linked to the expansion of the construction industry. Paints and coatings are essential in this industry as they are used for protecting surfaces from high temperatures, abrasion, water, and wear. Pyrophyllite is used as a filler in paints and coatings to enhance their performance and durability in residential and commercial construction equipment and projects. Growing production of paints and coatings is thus anticipated to positively influence market growth over the forecast period.
The competitive rivalry is high in the market owing to the presence of small and medium size pyrophyllite manufacturers. Mergers and acquisitions, product launches, and partnerships are some of the major strategic initiatives adopted by key end-use players that use pyrophyllite. For instance, in January 2023, SteelAsia Manufacturing Corporation and China BaoWu Steel Group Corporation Limited announced their partnership to build a USD 1.98 billion steel production facility in the Philippines owing to the rising infrastructure expenditure in the country.
Pyrophyllite Market Report Highlights
- Based on application, the ceramics segment is expected to grow at the fastest CAGR of 5.8% in terms of revenue, during the forecast period. Pyrophyllite does not melt or lose its strength when exposed to high temperatures, which makes it suitable for high-grade ceramic products. The demand for ceramics is propelling on account of rising demand from end-use industries
- The fillers segment accounted for a revenue share of 22.8% in 2022. Pyrophyllite is used as fillers and finds significant application in end-use industries such as paper, pesticides, plastics, and paints, and also as a soil conditioner
- Based on region, Asia Pacific dominated the market and accounted for a revenue share of more than 50.0% in 2022. High production of ceramics and refractories and growing developments in the industries of the region are expected to augment the market growth during the forecast period
- Recent demographic trends, urbanization, and energy demand, as well as the rinsing number of infrastructure projects have led to a growth in industries including construction, automotive, steel, and pharmaceuticals. These industries have propelled the demand for ceramics, fillers, refractories, and foundries, which is anticipated to prove fruitful for the growth of the market
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 96 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $67.9 Million |
| Forecasted Market Value (USD) by 2030 | $102.6 Million |
| Compound Annual Growth Rate | 5.3% |
| Regions Covered | Global |
Key Topics Covered:
Chapter 1. Methodology and Scope
Chapter 2. Executive Summary
Chapter 3. Market Variables, Trends, and Scope
3.1. Global Pyrophyllite Market Outlook
3.2. Industry Value Chain Analysis
3.3. Technology Overview
3.4. Regulatory Framework
3.5. Market Dynamics
3.6. Porter's Five Forces Analysis
3.7. PESTLE Analysis
Chapter 4. Pyrophyllite Market: Application Estimates & Trend Analysis
4.1. Pyrophyllite Market: Application Movement Analysis, 2022 & 2030
4.2. Ceramics
4.3. Refractories & Foundries
4.4. Fillers
Chapter 5. Pyrophyllite Market: Regional Estimates & Trends Analysis
Chapter 6. Competitive Landscape
6.1. Recent Developments & Impact Analysis, By Key Market Participants
6.2. Company Categorization
6.3. Heat Map Analysis
6.4. Vendor Landscape
6.5. Strategy Initiatives by End Users
6.6. Company Profiles
- ANAND TALC
- Chirag Minerals
- Kamlesh Minerals
- R.T. Vanderbilt Holding Company, Inc
- SKKU Minerals
- The Ishwar Mining & Industrial Corp
- Tsuchihashi Mining
For more information about this report visit https://www.researchandmarkets.com/r/b97w9g
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
