Growing number of construction projects and high use of ceramics in the region are some of the major factors influencing the market trends.
NEW YORK, UNITED STATES, Jan. 20, 2022 /EINPresswire.com/ — According to Insight Partners’ latest market research on “Halloysite Market Forecast to 2028 – Impact of COVID-19 and Global Analysis – By Application (Medical, Cosmetic, Ceramics, Polymer, Paints & Coatings, and Others),” the halloysite market size is expected to grow from US$39.64 million in 2021 to US$58.88 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.
Market size value in – 39.64 million US$ in 2021
Market size value of – $58.88 million by 2028
Growth rate – CAGR of 5.8% from 2021 to 2028.
Forecast Period – 2021-2028
Base year – 2021
Number of pages – 149
Number of paintings – 29
Number of graphs and figures – 59
Historical data available – Yes
Segments Covered – Application and Geography
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
National reach – United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report Coverage – Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors and Trends
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Halloysite is an aluminosilicate clay mineral that can be used as an inert substitute for carbon nanotubes in high-tech applications such as water purification, hydrogen storage, carbon capture, soil remediation and renewable energies. Halloysite is most widely used in end-use industries such as cosmetic, medical, polymer and ceramic industries. Also, there is a growing demand for halloysite as a carrier for the manufacture of many cosmetic products such as gels, creams and lotions. It offers solid phase ingredient immobilization and sustained release of liquid ingredients in cosmetics.
Rapid Growth of End-Use Industries to Drive Global Halloysite Market
Rapid growth in end-use industries along with booming cosmetic and medical industry are some of the key growth drivers for the halloysite market. Also, large-scale application and discovery of deposits of halloysite would provide potential growth opportunities for the market over the forecast period. Additionally, stringent regulatory standards for mining and extraction of halloysite is restraining the market growth.
Impact of the COVID-19 pandemic on the Halloysite market
The COVID-19 pandemic has significantly disrupted the manufacturing sector in terms of operational efficiency due to prolonged shutdowns in different regions, restrictions on international trade, closure of manufacturing units, travel bans, disintegration supply chain, shortage of raw material supply and many other factors. The COVID-19 pandemic has negatively impacted the global halloysite market due to shutdown of manufacturing units, rising raw material prices, labor shortage, disruption of supply chains and financial instability. Halloysite is most widely used in various industries, such as construction, paints and coatings, cosmetics, ceramics, and automotive, which have been significantly impacted by the pandemic. Thus, a major decline in the number of residential construction projects due to the financial crisis and the downward trend in end-use industries due to the pandemic has significantly hampered the growth of the market. However, increased vaccination and easing of restrictions are expected to drive the growth of the halloysite market over the forecast period.
Download the latest COVID-19 Analysis of Halloysite Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00026315/?utm_source=EINPressWire&utm_medium=10357
Halloysite Market: By Application
Based on application, the global halloysite market is segmented into medical, cosmetic, ceramic, polymer, paints & coatings, etc. The medical segment is expected to witness the fastest growth during the forecast period. Halloysite is used in the medical industry for various applications, such as bone implants, tissue engineering, dental fillings, drug carriers, wound care, delivery systems, and tissue scaffolds. Hence, the increasing adoption of halloysite in the medical industry for therapeutic applications is driving the growth of the market.
Halloysite Market: Competitive Landscape and Key Developments
A few of the major key players operating in the global halloysite market are American Elements, APPLIED MINERALS INC., Imerys, I-Minerals Inc., MERCK KGaA, Otto Chemie Pvt. Ltd., Nanoshel LLC, Phantom Plastics, Northstar Clay Mines LLC and Esan.
Order a copy of the Halloysite Market Share, Strategy and Forecast Research Report 2021-2028 at https://www.theinsightpartners.com/buy/TIPRE00026315/
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