Halloysite Market Size, Share & Trends Analysis Report By Application, (Medical, Ceramics, Cosmetics, Paints, Cement, Polymers), By Region (APAC, Europe, North America, CSA, MEA), And Segment Forecasts, 2018 - 2025
Published Date: Aug, 2018
Base Year for Estimate: 2017
Report ID: GVR-2-68038-430-7
Format: Electronic (PDF)
Historical Data: 2014 - 2016
Number of Pages: 79
Industry Insights
The global halloysite market size was estimated at USD 29.1 million in 2017. It is expected to expand at a CAGR of 7.2% during the forecast period. Surging demand for halloysite in novel applications in the medical, cosmetics, and paints industries is projected to drive the market over the forecast period. In addition, manufacturers are increasingly acknowledging the use of the product in the production of tissue engineering scaffolds, which in turn is poised to spur the growth of the market.
Production of raw material varies annually with manufacturers changing trends to meet annual projected demand for halloysite material. Extensive integration of manufacturers to the raw material supply leads to its abundance, which in turn benefits the overall market growth. Besides this, rising raw material extraction due to spiraling product demand is anticipated to work in favor of the market.
The U.S. accounted for approximately three quarters of the overall consumption of ceramics in North America in 2017, in terms of volume. The market in the U.S. is likely to remain at the forefront of North America throughout the forecast horizon owing to increasing production of ceramic ware and other ceramic-based products in the country driven by booming building & construction industry.
The substance is recognized as safe to use in critical and niche applications by agencies such as European Commission. Presence of limited regulatory framework for use of products across various end-use industries is estimated to fuel the demand for halloysite over the forecast period.
The market exhibits a significant threat of external substitution by kaolin and other clays, primarily in the ceramics industry. In addition, high consumption of the product by the ceramic industry coupled with limited availability increases the substitution threat. However, the product is expected to substitute a number of nanomaterials currently used in applications such as medical and cosmetics.
Growing investments in the production of advanced halloysite products for use in medical, cosmetic, and filtration applications are projected to fuel growth prospects and augment production levels. In addition, rising monetary investments in R&D activities for incorporation of nanomaterials in medical applications are poised to stimulate market growth.
Application Insights
There is a high demand for the product for use as a carrier for manufacturing various cosmetic products such as creams, gels, and lotions. Halloysite offers immobilization of a solid-phase ingredient and sustained release of liquid ingredients in cosmetics. The aforementioned factors are likely to boost the growth of the cosmetics segment.
Polymer manufacturers are increasingly employing the product as an additive for their offerings as it helps improve physical properties such as melting point and strength. Currently, the product is widely utilized as a filler in polyvinyl chloride, polystyrene, high density polyethylene, and polyethylene terephthalate.
The growth of the ceramic ware industry, thanks to rising demand by the HORECA sector coupled with high consumer expenditure on home décor, is anticipated to register a noteworthy CAGR of 6.7% in terms of revenue over the forecast period.
Halloysite nanotubes have a high aspect ratio and unique crystal shape, which enhances adhesion and strength of paints and coatings. Use of halloysite-based paints and coatings helps eliminate fungal growth on wall boards and accumulation of barnacles on ships. As a result, the demand for the product as a suspension agent in the industry is estimated to grow over the forecast years.
Regional Insights
The halloysite market in Europe is expected to lose market share to developing economies in Asia Pacific due to soaring adoption of specialized clays. Declining growth of the healthcare industry coupled with limited rise of the building & construction industry in France, Germany, and Italy is projected to negatively impact market growth.
The demand for the product in Germany is poised to witness growth during the forecast period on account of widening scope of applications. Use of the product as an ingredient in Li-ion batteries is attracting a number of investments on account of heightened demand for such batteries. Rising demand for electric cars that are primary users of such batteries is further anticipated to stir up the demand for halloysite.
The demand for ceramics is expected to be driven majorly by the heightened consumption in the growing building & construction industry in Asia Pacific. In addition, low product price coupled with limited maintenance cost is expected to drive the market growth over the forecast period. Increasing demand for environment friendly products by the consumers primarily in Europe and North America is expected to drive the ceramics market growth.
Major brands such P&G and Unilever have their manufacturing facilities established in China owing to low manufacturing cost, and consequently, the country has become a major manufacturing hub for majority of cosmetics manufacturers. As halloysite is used as a filler in moisturizers and other personal care products, its demand in the country is likely to exhibit a sharp rise over the forecast period.
The industry in Asia Pacific is estimated to reach a valuation of USD 17.4 million in 2017 owing to strong demand for the product in the production of ceramic products. In addition, flourishing medical industry in the region is expected to stoke the growth of the regional market.
Halloysite Market Share Insights
The industry is characterized by presence of a limited number of players. Small-scale companies majorly compete on the basis of product quality as type of product manufactured depends on the mine from where the material is sourced. The demand for halloysite is high in major ceramic product manufacturing companies.
Halloysite production is volatile in nature as the process has not yet been fully commercialized. Halloysite clay available in the market has been assigned several grades depending on its purity level. Key market players are resorting to production of advanced grades of halloysite to cater to demands of niche market.
Report Scope
Attribute
Details
Base year for estimation
2017
Actual estimates/Historical data
2014 - 2016
Forecast period
2018 - 2025
Market representation
Volume in Tons, Revenue in Thousand USD, and CAGR from 2018 to 2025
Regional scope
North America, Europe, Asia Pacific, Central & South America, Middle East & Africa
Country scope
U.S., Canada, Mexico, Germany, U.K., France, China, India, Japan
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