Halloysite Market Growth Driven by Rapid Growth of End-Use Industries

Halloysite Market is growing due to the rapid growth of end-use industries along with rise in the cosmetic and medical industry

NEW YORK, UNITED STATES, March 25, 2022 /EINPresswire.com/ -- The scope of The Insight Partners recent study on the “Halloysite Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Medical, Cosmetic, Ceramics, Polymer, Paints and Coatings, and Others)” includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with providing market share analysis.

The halloysite market is projected to reach US$ 58.88 million by 2028 from US$ 39.64 million in 2021; it is expected to grow a CAGR of 5.8% from 2021 to 2028.

Download sample PDF Copy of Halloysite Market study at: https://www.theinsightpartners.com/sample/TIPRE00026315/

Halloysite is an aluminosilicate clay mineral that can be used as an inert replacement for carbon nanotubes in high-tech applications such as water purification, hydrogen storage, carbon capture, soil remediation, and renewable energy. The halloysite is most widely used in end-use industries such as cosmetic, medical, polymer, and ceramic industries. Besides, there is a growing demand for the halloysite for use as a carrier for producing numerous cosmetic products such as gels, creams, and lotions. It offers immobilization of a solid-phase ingredient and sustained release of liquid ingredients in cosmetics.

The construction industry across the globe is growing at a rapid pace. The growing development of modern infrastructure, rising government investments, and an increasing number of residential as well as commercial construction activities are some of the key factors supporting the growth of the construction industry worldwide which is further augmenting the usage of halloysite. Moreover, governments of countries like China and India are heavily focusing on expanding their infrastructure capabilities. For instance, to alleviate the economic impact of the COVID-19 outbreak while also fostering long-term sustainable growth, the Chinese government has launched the New Infrastructure initiative. New Infrastructure initiatives will focus on 5G networks, industrial internet, inter-city transit, and intercity rail systems, data centers, artificial intelligence, ultra-high voltage, and electric vehicle charging stations. Such initiatives by the governments of emerging economies are expected to contribute towards the growth of the construction sector which will eventually favor the growth of the global halloysite market over the coming years. Thus, growth in end-use industries is fueling the kaolin market growth over the forecast period.

Halloysite Market: Competitive Analysis

American Elements, APPLIED MINERALS INC., Imerys S.A., I-Minerals Inc., MERCK KGaA, Otto Chemie Pvt. Ltd., Nanoshell LLC, Phantom Plastics, Northstar Clay Mines LLC, and Esan are among the major market players operating in the halloysite market. These companies offer their products worldwide, which helps them in catering to a wider customer base. These players in the market are highly focused on the development of high-quality and innovative products to fulfill the customer’s requirements.

Inquire for Discount on Kaolin Market: https://www.theinsightpartners.com/discount/TIPRE00026315/?utm_source=EINPressWire&utm_medium=10357

The halloysite market in Asia Pacific is expected to grow at the highest CAGR during the forecast period. Asia Pacific is one of the largest halloysite markets due to growing investment in construction activities across the Asia Pacific countries. With a surging population, the automotive, ceramic, and construction industries are growing rapidly in Asia Pacific. The existence of established sectors such as metallurgical, chemical, and other manufacturing in nations like China, India, Japan, and South Korea has increased the demand for ceramic in the region. It is also used as a filler in polymer production and to produce nano epoxy coating in the paints and coatings industry. Thus, booming investment prospects from end-use industries is augmenting the consumption of halloysite, which is anticipated to drive the market growth during the forecast period.

Halloysite Market by Application

Based on application, the halloysite market is segmented into medical, cosmetic, ceramics, polymer, paints and coatings, and others. The medical segment accounted for the largest market share in 2020. The halloysite is used in the medial 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 the medical industry for therapeutic applications is augmenting the consumption of halloysite nanomaterials, which is expected to drive the halloysite market growth during the forecast period.

Impact of COVID-19 Pandemic on Halloysite Market

The COVID-19 pandemic has significantly disrupted the manufacturing sector in terms of operational efficiency owing to extended lockdowns across different regions, restrictions imposed on international trades, shutdown of manufacturing units, travel bans, supply chain disintegration, shortage in the raw materials supply, and many other factors. The COVID-19 pandemic has negatively impacted the global halloysite market owing to the manufacturing units shutdown, rising raw material prices, labor shortage, supply chains disruption, and financial instability. Halloysite is most widely used in various industries, such as construction, paints and coatings, cosmetics, ceramics, and automotive, 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. However, a rise in vaccination and ease in restrictions are expected to drive the halloysite market growth during the forecast period.

Order a Copy of Halloysite Market Share, Strategies and Forecasts 2020-2028 Research Report at: https://www.theinsightpartners.com/buy/TIPRE00026315/

About Us:

The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

Press Release: https://www.theinsightpartners.com/pr/halloysite-market
More Research: https://www.theinsightpartners.com/categories/chemicals-and-materials

Contact Us:

Sameer Joshi
The Insight Partners
email us here
Visit us on social media:
Facebook
Twitter
LinkedIn