Halloysite Market Analysis-Global Industry Share Size Trends and Forecasts To 2020
Global halloysite market is expected to witness growth on account of growing demand for technical and advanced ceramics in electronics, household, automotive and construction applications.
Global halloysite market is expected to witness growth on account of growing demand for technical and advanced ceramics in electronics, household, automotive and construction applications. Growing demand for high quality tableware on account of rising disposable income coupled with population growth in emerging markets of China, India and Middle East countries is expected to drive halloysite market. Halloysite also finds application as a catalyst during refining process in the oil & gas sector. Nanotechnological advancement has resulted in the development of halloysite nanotubes, which is expected to open new markets in the near future.
Asia Pacific is expected to witness growth due to growing application of ceramics in automotive, electronics and construction industries, particularly in Indonesia, China and India. Raw material deposit occurrence of rhyolite in New Zealand is expected to open new market avenues. Rising expenditure on R&D for nanotechnology by market players in U.S. is expected to have a positive impact on halloysite market. Ceramics industry growth in West Africa on account of infrastructure development and urbanization growth is expected to promote new investments in halloysite market over the forecast period.
Key market participants include Applied Minerals, Imerys Ceramics, I-Minerals and Atlas Mining Company. Rising concerns over increasing grade for halloysite is a key concern for market players. In May 2014, Canada based I-Minerals achieved 90% grade concentration of halloysite product at a laboratory scale. This development is expected to force other manufacturing companies to increase their expenditure on R&D. Government of India announced “Make in India” campaign to promote FDI at domestic level, which is expected to open new opportunities for halloysite market in the near future.
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Mar 02, 2015