Tag: Fiber Glass

Kaolin Market Size Worth $6.28 Billion By 2027

The global kaolin market size is expected to reach USD 6.28 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 3.5% from 2020 to 2027. The increasing popularity of high-grade kaolin within the cosmetics industry is anticipated to propel the growth of the market space over the forecast period.

The use of kaolin in the cosmetics industry has witnessed steady growth over the last few years. As per cosmetics industry experts, the absorbent properties exhibited by kaolin proved to be a key factor in the wide adoption of the product within this application segment. In addition, increasing consumer awareness pertaining to the use of natural ingredients, especially in cosmetic creams and lotions, propelled the adoption of kaolin in the global cosmetics market space.

The emergence of COVID-19 in the first quarter of FY 2020 has directly impacted the construction activities. The slowdown in the construction sector is projected to indirectly influence the dynamics of the global market space. The imposition of lockdown by many countries around the globe have stalled construction activities and caused a severe economic impact. The kaolin expansion projects initiated by market vendors at the start of 2019 have been stalled due to the scarcity caused by the emergence of COVID-19.

Despite the current downturn in economic conditions, the futuristic opportunities for marketspace look lucrative with larger demand coming from ceramics application. An increase in ceramics production is anticipated to positively influence the apparent consumption of the product over the forecast period. Wider adoption of ceramics, especially in décor and interior design, is likely to boost its prospects over the predicted timeline.

Most of the players in the market are focused on devising strategies to limit economic exposure caused due to the breakout of the pandemic and the subsequent slowdown in the demand for the product from key application segments. The market participants are inclined towards maintaining positive liquidity in order to sustain themselves during these unprecedented times.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/kaolin-market

Further key findings from the report suggest:

  • The paper application segment led the market and held over 37.0% share of the global revenue in 2019 owing to increasing demand for paper boards from the packaging industry
  • The ceramics application segment is projected to expand at a CAGR of 4.9% in terms of revenue over the forecast period owing to increasing production of ceramic tiles to meet the growing demand from the construction industry, especially in the U.S., China, and India
  • The cosmetics application segment accounted for a volume share of 1.1% in 2019 and is expected to emerge as one of the fast-growing segments in terms of volume over the forecast period. The growth is attributed to increasing consumer disposable income, along with the rising demand for skincare products
  • Asia Pacific is anticipated to expand at the fastest CAGR in terms of volume as well as revenue over the forecast period, owing to the wide adoption of kaolin within the regional supply chain of the ceramics manufacturing marketspace
  • Europe is expected to register a CAGR of 2.3% in terms of volume over the forecast period. The economic disaster triggered by the breakout of the pandemic is likely to restrain the market growth in the region.

Kaolin Market Size Worth $5.66 Billion By 2027

The global kaolin market size is projected to reach USD 5.66 billion by 2027, expanding at a 3.3% CAGR based on revenue, over the forecast period, according to a new report published by Grand View Research, Inc. Kaolin is used as a filler or a coating material and hence, rising demand for paper from the packaging industry is likely to propel the growth.

Kaolin in paper products enhance smoothness and appearance, increase brightness and printability, and reduce abrasion. Paper, being an eco-friendly and easily recyclable solution, is widely used in industries such as packaging and print media in the form of paper boards and gloss papers. Rising awareness along with stringent regulations regarding environmental pollution caused by non-biodegradable packaging is likely to drive the demand for paper packaging, which in turn is anticipated to augment market growth in the forthcoming years.

However, downturn in paper sector of North America region is expected to restrain growth of the kaolin market over the forecast period. Continuous shift toward digital media platforms for news, advertisements, and marketing has adversely affected the demand for newsprint media in North America over the past few years. In addition, availability of efficient substitutes, such a Ground Calcium Carbonates (GCC) and Precipitated Calcium Carbonates (PCC) that can replicate the properties of kaolin at a lower cost may hinder the product demand to a certain extent.

In Asia Pacific, factors such as expanding population and rising consumer standard of living are anticipated to increase the need for houses, thus propelling the construction industry. The rising construction industry directly impacts the growth of the ceramic industry. According to the Ceramic World Web, in 2018, the regional ceramic tile production accounted for 68.6% of the global production. The high regional production of ceramic tiles is anticipated to drive the demand for kaolin in the forthcoming years.

BASF SE, Imerys S.A., KaMin LLC, LB MINERALS Ltd., Sibelco N.V., and Thiele Kaolin Company are the key market players. Most of the players focus on increasing the kaolin prices to ensure long term business sustainability. The kaolin manufacturers increased in prices by 5% to 9% in 2018 for different applications. For instance, in August 2018, BASF SE increased kaolin prices by 5% for paper and thermal applications.

Click the link below:
https://www.grandviewresearch.com/industry-analysis/kaolin-market

Further key findings from the report suggest:

  • Paper segment is anticipated to expand at a CAGR of 2.6%, in terms of revenue over the forecast period owing to the increasing demand for paper boards from the packaging industry
  • Ceramics is projected to witness a CAGR of 4.0% in terms of volume over the forecast period owing to increasing production of ceramic tiles to meet the rising demand from the construction industry, especially from U.S, China, and India
  • Cosmetics is among the segments witnessing rapid growth, in terms of volume, over the forecast period and accounted for a market share of 1.1% in 2019. The growth is attributed to the increasing consumer disposable income along with the rising demand for skin care products
  • Asia Pacific is anticipated to expand at a CAGR of 3.5% in terms of volume over the forecast period owing to the rising demand for kaolin-based products from construction, automotive, and packaging industries
  • Europe is expected to witness a CAGR of 2.7% in terms of revenue over the forecast period as it is among the largest regions for the paper industry and ceramics industry