Vermiculite Global Market Report 2024

The vermiculite market size has grown strongly in recent years. It will grow from $0.26 billion in 2023 to $0.28 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth experienced during the historical period can be ascribed to the construction sector, horticulture and agriculture, industrial uses, fireproofing and insulation, as well as the oil and gas industry.

The vermiculite market size is expected to see strong growth in the next few years. It will grow to $0.37 billion in 2028 at a compound annual growth rate (CAGR) of 7.6%. Anticipated growth in the forecast period can be linked to expanding infrastructure development, heightened environmental consciousness, emerging markets, and technological advancements. Key trends in the forecast period encompass trends such as electrification and lightweighting, advanced materials, additive manufacturing, digitalization and connectivity, as well as increased collaboration and partnerships.

The vermiculite market is poised for growth, driven by the rapid expansion of construction activity worldwide. Construction projects boost demand for construction materials and services, and vermiculite, with its exceptional insulation and fire resistance properties, plays a vital role in enhancing building energy efficiency and safety across various applications. For example, in February 2023, the Office for National Statistics reported a 5.6% annual increase in construction output in 2022, following a remarkable 12.8% surge in 2021. This robust growth in construction activity has significantly contributed to the expansion of the vermiculite market.

The primary varieties of vermiculite encompass large-grade, fine-grade, and finer-grade options. Vermiculite yields diverse products, including raw or unprocessed vermiculite, and exfoliated vermiculite. These products find applications in the chemical, agricultural, automotive, construction, and other industries. Exfoliated vermiculite, obtained by subjecting it to a heat process that causes it to expand significantly compared to its original volume, is particularly well-suited for use as a lightweight aggregate, especially for insulation purposes in thermal insulation applications.

The vermiculite market research report is one of a series of new reports that provides vermiculite market statistics, including vermiculite industry global market size, regional shares, competitors with a vermiculite market share, detailed vermiculite market segments, market trends and opportunities, and any further data you may need to thrive in the vermiculite industry. This vermiculite market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The vermiculite market is expected to benefit from the growing demand for oil and gas. The oil and gas industry encompasses natural resources used for energy and industrial purposes, such as petroleum and natural gas. Vermiculite serves as a proppant in hydraulic fracturing (fracking) operations, helping to keep fractures in rock formations open and thereby increasing oil and gas extraction. As of June 2023, the International Energy Agency projected a 6% increase in global oil demand between 2022 and 2028, reaching 105.7 million barrels per day. This growth is supported by strong demand from sectors like petrochemicals and aviation, emphasizing the role of vermiculite in meeting the industry's needs.

The mining industry has embraced modular component design using 3D printing technology. This innovative approach allows mining companies in remote locations to produce essential parts on-site, reducing delays caused by unplanned maintenance and eliminating the need for maintaining extensive inventories. Miners are increasingly relying on advanced heavy-lift transport to move modular equipment to remote sites, facilitating the construction of processing units in cost-effective off-site facilities, thereby avoiding expensive on-site construction.

In July 2023, the City of Cape Town Disaster Risk Management Centre partnered with Mandoval Vermiculite (Pty) Ltd. for the Overcome Heights pilot project. Mandoval Vermiculite, a South African-based vermiculite product supplier, will cover the costs of the product, machinery, and training for applying a vermiculite-based fire-retardant compound to enhance the fire resistance of at least 300 informal housing structures. The Cape Town Disaster Risk Management Centre will finance the employment of 11 local residents under the Expanded Public Works Programme (EPWP) to support this initiative.

Major companies operating in the vermiculite market include Palabora Mining Company Limited, Samrec Vermiculite Zimbabwe (Pvt) Ltd., Virginia Vermiculite LLC, Uniao Brasileira de Mineracao SA, Showa Denko KK, Mitsui Sumitomo Metal Mining Brass & Copper CO. Ltd., Genper Group, Dicalite Management Group, EP Minerals LLC, Termolita SAPI de CV, Therm-O-Rock East Inc., Ausperl Pty Ltd., Bulk Apothecary, Dupré Minerals Limited, Exfoliators (Aust) Pty Ltd., Isola Vermiculite GmbH, KVB Processors Pvt. Ltd., Palmetto Vermiculite Company, Perlite Vermiculite Packaging Industries Inc., Sun Silicates (Pty) Ltd., Dämmstoff-Fabrik Klein GmbH, The Schundler Company, Whittemore Company Inc., W.R. Grace & Co., Carolina Perlite Company Inc.

Western Europe was the largest region in the vermiculite market in 2023. Asia-Pacific was the second largest region in the vermiculite market. The regions covered in the vermiculite market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the vermiculite market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa

The vermiculite market consists of sales of mineral, which is used in agriculture, automotive, chemical packaging, construction, fire protection, and other applications. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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