New York, April 22, 2022 (GLOBE NEWSWIRE) -- The Insight Partners published the latest research study on Halloysite Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Medical, Cosmetic, Ceramics, Polymer, Paints and Coatings, and Others) and Geography. The report highlights key factors driving the halloysite market growth and prominent players along with their developments in the market. Wide extent of utilization and disclosure of halloysite stores would hold possible open doors for the halloysite market development later on. The developing reception of nanomaterials in the clinical business is one of the major halloysite market drifts that impels the halloysite market size. Besides, severe administrative standards for mining and extraction of halloysite material may somewhat limit the halloysite market development.
| Report Coverage | Details |
| Market Size Value in | US$ 39.64 million in 2021 |
| Market Size Value by | US$ 58.88 million by 2028 |
| Growth rate | CAGR of 5.8% from 2021 to 2028. |
| Forecast Period | 2021-2028 |
| Base Year | 2021 |
| No. of Pages | 149 |
| No. Tables | 29 |
| No. of Charts & Figures | 59 |
| Historical data available | Yes |
| Segments covered | Application, and Geography |
| Regional scope | North America; Europe; Asia Pacific; Latin America; MEA |
| Country scope | US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
Halloysite Market: Competition Landscape and Key Developments
The key companies operating in the halloysite market are American Elements, APPLIED MINERALS INC., Imerys, I-Minerals Inc., MERCK KGaA, Otto Chemie Pvt. Ltd., Nanoshel LLC, Phantom Plastics, Northstar Clay Mines LLC, Esan and among others. These companies operate their production and distribution services in various countries worldwide, which helps them in catering to a wider customer base.
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Based on region, the halloysite market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East & Africa. In 2020, Asia Pacific held the largest portion of the global halloysite market share and is expected to register the highest CAGR during the forecast period. With a growing population, the automotive, ceramic, and construction industries are in high demand in the Asia Pacific. The ceramic industry is expanding in the region due to increasing urbanization in developing economies of the Asia Pacific. The existence of established sectors such as metallurgical, chemical, and other manufacturing in countries such as China, India, Japan, and South Korea has increased the demand for ceramic in the region. Furthermore, many countries in the Asia Pacific are emerging nations, such as China and India, and the construction business in these areas has a lot of potentials. Construction is an essential industry that contributes significantly to a country's economic progress. Large structures, bridges, dams, pipelines, road networks, ports, trains, and aqueducts are all examples of infrastructure construction.
Rapid Growth of End-Use Industries to Drive Halloysite Market Growth During Forecast Period
Halloysite is the most important member of the kaolin subgroup of minerals. It has high whiteness, a high aspect ratio, and a nano-sized structure, which is highly demanded by ceramic tableware producers. Halloysite is most widely used as a carrier in cosmetics and pharmaceuticals; a filler in plastics, particularly PVC; and as a suspension agent in paints, inks, and filters. It is used in ceramic, paint, and cement products used in the building & construction industry. Thus, the growing development of modern infrastructure, rising government investments, and an increasing number of residential and commercial construction activities are among the key factors supporting the growth of the construction industry worldwide, which is further augmenting the usage of halloysite. The kaolin clay can be used for encapsulating a liquid ingredient of cosmetics and for immobilizing an inorganic solid-phase ingredient. In addition, increasing investments in the cosmetic industry are fueling the consumption of halloysite, which is anticipated to drive the halloysite market growth in the coming years. As per the Cosmetics Europe, The Personal Care Association, the cosmetics, and personal care industry contributes about US$ 32.85 billion to the European economy. Halloysite is also used in the medical industry for various applications, such as tissue engineering, bone implants, dental fillings, wound care, drug carrier, release system, and tissue scaffolds. Thus, significant growth in various end-use industries is augmenting the consumption of halloysite, which is expected to drive the halloysite market growth during the forecast period.
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Halloysite Market: Segment Overview
The ceramics segment accounted for the largest share of the global halloysite market share, in 2020. The medical segment is expected to witness the highest growth, significantly driving the expansion of the global halloysite market size. Halloysite is used in the medical industry for various applications, such as bone implants, tissue engineering, dental fillings, drug carrier, wound care, release system, and tissue scaffolds. The growing adoption of nanomaterials is one of the key halloysite market trends, that help drive the halloysite market growth.
Impact of COVID-19 Pandemic on Halloysite Market
The emergence of the COVID-19 pandemic has significantly disrupted the manufacturing sector in terms of operational efficiency owing to many factors such as extended lockdowns across different regions, restrictions imposed on international trades, manufacturing units shutdown, travel bans, supply chain disintegration, rising raw material prices, labor shortage, financial instability, and raw materials shortage. Halloysite is most widely used in construction, paints and coatings, cosmetics, ceramics, automotive, and other industries, which were dramatically impacted by the pandemic. Thus, a major decline in the number of residential construction projects due to financial crisis and declining trend from end-use industries owing to the pandemic has significantly hampered the market growth. Moreover, rise in vaccination and ease in restriction are expected to drive the halloysite market growth during the forecast period.
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During the forecast period, Asia-Pacific is anticipated to account for the largest share of the global halloysite market. Asia-Pacific region comprises several developed and developing economies, including China, India, Japan, South Korea, among others. The growing demand from various end-use industries such as construction, automotive, and ceramic drives the demand for halloysite. Halloysite nanotubes are widely used in building and construction. It is also used as filler in polymer production and to produce nano epoxy coatings in the paints and coatings industry. In construction, it is used as nanofillers in lightweight cementitious composites. Halloysite as a filler is mixed with a polymer to produce materials with better mechanical properties.
Based on application, the ceramics segment led the global halloysite market in 2020. Ceramics cover a tremendous field of applications and products such as construction and building materials, advanced materials, refractories, earthenware, sanitaryware and others. Halloysite has high aluminum oxide content (>30 wt%), plasticity, high whiteness, non-toxicity, high aspect ratio, and its translucent effect which makes it more preferable for use in the ceramic industry for the production of traditional and advanced ceramics.
The rapid growth of end-use industries and significant growth in the cosmetic and medical industries are the key drivers for the growth of the global halloysite market. Halloysite is used in various applications such as medical, cosmetics, ceramics, polymer, paints and coatings, and others. It is used in the medical industry for various applications such as tissue engineering, bone implants, dental fillings, wound care, drug carrier, release system, and tissue scaffolds. It is also used in capturing circulating tumor cells in the bloodstream e.g. leukemia cells.
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The halloysite mineral could be the key to major green technologies and advanced biomedical applications in drug delivery, cancer, bioimaging, and stem cells isolation. In addition, halloysites are added to polymer nanocomposites, which can be used to manufacture thermosets, thermoplastics, and elastomers. Thus, the wide scope application of halloysite across verticals industries holds promising growth opportunities during the forecast period.
The halloysite nanotubes (HNTs) have emerged in recent years as promising nanomaterials. HNTs have attracted significant interest in Nanotechnology applications owing to their excellent physical properties. Halloysite nanotubes are expected to be a promising filler in clay polymer nanocomposites due to their high specific surface areas, high aspect ratio, good dispersion, and excellent mechanical properties. Two crucial factors of halloysite–polymer nanocomposites include good dispersion of the halloysite in the polymer matrix and a desirable interfacial affinity between the halloysite and the polymer. These factors help determine the performance of halloysite–polymer nanocomposites which enable its application in various end-use industries. Thus, such emergence of nanomaterials is trending the consumption of halloysite which help drive the market growth.
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