Halloysite Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018-2028
Global Halloysite Market: Snapshot
The global halloysite market is anticipated to witness an increase in the application of the aluminosilicate clay mineral in cosmetics industry. Halloysite could be used in the manufacture of lotions, gels, creams, and other cosmetic products. It offers sustained release of liquid ingredients and immobilization of solid-phase ingredients in cosmetics. This is foreseen to create larger demand for halloysite in the cosmetics industry. Since halloysite can help improve strength, melting point, and other physical properties, it can also be used as an additive for numerous products offered by polymer manufacturers. Currently, halloysite is popularly employed as a filler in polyethylene terephthalate (PET), high-density polyethylene (HDPE), polystyrene (PS), and polyvinyl chloride (PVC).
The ceramic ware industry, on the other hand, is prognosticated to show faster growth in the global halloysite market. This could be due to increased spending on home décor and swelling demand for halloysite in the hotel/restaurant/café (HORECA) sector. The global halloysite market is prophesied to gain momentum in its growth because of important application in the paints and coatings industry. For instance, halloysite nanotubes can improve the strength and adhesion of paints and coatings with the help of their unique crystal shape and high aspect ratio. Halloysite-based paints and coatings can eliminate accumulation of barnacles on ships and fungal growth on wall boards. Halloysite is also used as a suspension agent in the industry.
Rising interest in the manufacture of advanced halloysite products for use in filtration, cosmetic, and medical applications is projected to create a whole lot of demand in the global halloysite market. The growth of the global halloysite market could receive a strong push with increasing research and development investment for the inclusion of nanomaterials in medical applications. Limited availability of substitute products and high consumption in the ceramics industry are foretold to up the demand in the global halloysite market.
Global Halloysite Market: Overview
The global market for halloysite, a kind of nanomaterial that exhibits structure similar to Kaolinite, has gained traction in the past few years owing to it being a readily available, cost-effective, and ideal nanomaterial for a variety of applications in the field of electronics, ceramics, cosmetics, medicine, and paints and coatings. The material is also gaining increased acclaim in the field of tissue engineering as researchers recognize its suitability for the production of tissue engineering scaffolds.
Another factor that works in favor of the market is the fact that halloysite has been granted the safe status for use in a number of niche and critical applications by authoritative agencies such as the European Commission. The market is also not trialed by stringent regulations when it comes to the use of halloysite for a variety of products, making its sourcing as well as usage convenient for end users. The market is expected to exhibit a healthy growth dynamics in the next few years, continuing to expand its set of application areas and geographical outreach. Rising demand for the material is compelling manufacturers across the globe to focus on streamlining the supply chain of raw materials, which continues to remain one of the key concerns for the market.
Global Halloysite Market: Trends and Opportunities
One of the key factors expected to play a key role in the promising future expansion of the global halloysite market is the increased demand for the product as a nanomaterial and its use in the production of ceramic products. Excellent purity and low content of iron and titania make halloysite an ideal option for producing translucent and exceptionally white ceramics. The use of the material is also found in high-tech ceramic applications, which is, however, presently a limited area of application but is likely to expand in the next few years. The market also benefits from the extensive usage of the material as a suspending agent in the preparation of glaze owing to its fine particle size.
Vast technological advancements pertaining to the production, processing, and use of halloysite are also working well for the global halloysite market, encouraging its increased usage across numerous applications. These factors are expected to help the global halloysite market expand at a healthy pace in the next few years.
However, the market’s growth prospects could be hindered to a certain extent owing to the volatile costs of raw materials and the threat of substitutes such as kaolin and other clays that traditionally find usage in the ceramics sector. Nevertheless, the increased use of the material in nanomaterial applications in industries such as cosmetics, medicine, and filtration could help the market remain competitive in the next few years as well. Moreover, increased investments in R&D activities aimed at incorporating nanomaterials in medical applications will work well for the market.
Global Halloysite Market: Regional and Competitive Dynamics
The report covers the halloysite market for regions such as Asia Pacific, Europe, North America, Latin America, and Middle East and Africa. Presently, the market in North America is the leading contributor of revenue to the global market and is likely to continue to account for a significant share in the global market over the forecast period. The market in Europe, on the other hand, is expected to see a decline in its share in the global market owing to a notable slowdown in the building and construction sectors in countries such as Italy, France, and Germany. The market in Asia Pacific is expected to show promising growth avenues owing to the increased demand from the construction sector.
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.
Some of the leading companies in the global halloysite market are Unilever, NaturalNano Corp, Living Nature, BASF SE, Reade International Corp., Applied Minerals Inc., I-Minerals Inc., and American Elements.
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