Pyrophyllite Market Size Is Anticipated To Reach USD 102.6 Million By 2030

 San Francisco, 8 May 2024: The Report Pyrophyllite Market Size, Share & Trends Analysis Report By Application (Refractories & Foundries, Ceramics, Fillers), By Region (North America, Asia Pacific, Europe), And Segment Forecasts, 2024 - 2030

The global pyrophyllite market size is expected to reach USD 102.6 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 5.4% from 2024 to 2030. The growth is projected to be driven by the growing investments in the ceramics sector and rising demand from industries such as paints and coating, iron and steel, cosmetics, plastics, agriculture, and rubber.

The demand for ceramics has gained importance in recent years owing to the flourishing construction industry, which directly fuels the demand for the mineral and its consumption. Pyrophyllite is useful in the production of stoneware and chinaware because it enhances mechanical strength and increases whiteness, at lower firing temperatures. It remains stable up to 800°C, making it valuable in refractory applications and various ceramic products like wall tiles, sanitary ware, and electrical porcelain.

Infrastructure development activities have increased significantly across the world owing to a number of initiatives undertaken by governments of different countries. Asia Pacific is expected to maintain its dominance in the market over the forecast period. Emerging economies in Asia Pacific, including India, Japan, Bangladesh, Indonesia, and Vietnam, are all witnessing rapid urbanization. This leads to the surged construction and infrastructure development activities in these countries, thereby fueling the demand for pyrophyllite in them.

The growth of the global paints and coatings industry is closely linked to the expansion of the construction industry. Paints and coatings are essential in this industry as they are used for protecting surfaces from high temperatures, abrasion, water, and wear. Pyrophyllite is used as a filler in paints and coatings to enhance their performance and durability in residential and commercial construction equipment and projects. Growing production of paints and coatings is thus anticipated to positively influence market growth over the forecast period.

The competitive rivalry is high in the market owing to the presence of small and medium size pyrophyllite manufacturers. Mergers and acquisitions, product launches, and partnerships are some of the major strategic initiatives adopted by key end-use players that use pyrophyllite. For instance, in January 2023, SteelAsia Manufacturing Corporation and China BaoWu Steel Group Corporation Limited announced their partnership to build a USD 1.98 billion steel production facility in the Philippines owing to the rising infrastructure expenditure in the country.

Access Research Report of Pyrophyllite Market @ https://www.grandviewresearch.com/industry-analysis/pyrophyllite-market

Pyrophyllite Market Report Highlights

• Based on application, refractories and foundries segment held the largest share of more than 41% in 2023. Pyrophyllite can be transformed into a substance called mullite, which can endure temperatures as high as 1810 °C.
• Pyrophyllite is a versatile mineral that is widely used as a substitute for kaolin and talc minerals. It is a cost-effective substitute for talc and kaolin clay as it enables the development of products of the same quality as offered by the former.
• Asia Pacific dominated the market and accounted for a revenue share of over 51.0% in 2023. Increasing manufacturing activities and growing foreign investments are key drivers fueling market growth in this region.
• Middle East region is expected to register a CAGR of 4.8%, in terms of revenue, from 2024 to 2030. The region is witnessing increased investments in resorts, hotels, artificial islands, and luxury residential projects to support the growth of its construction industry.

Pyrophyllite Market Report Scope

Report Attribute	Details
Market size value in 2024	USD 73.9 million
Revenue forecast in 2030	USD 102.6 million
Growth rate	CAGR of 5.4% from 2024 to 2030
Base year for estimation	2023
Historical data	2018 - 2022
Forecast period	2024 - 2030

List of Key Players in the Pyrophyllite Market

• ANAND TALC
• Chirag Minerals
• Kamlesh Minerals
• T. Vanderbilt Holding Company, Inc.
• SKKU Minerals
• The Ishwar Mining & Industrial Corp
• Tsuchihashi Mining Co., Ltd.

Access Press Release of Pyrophyllite Market @ https://www.grandviewresearch.com/press-release/global-pyrophyllite-market