Vermiculite Market: Robust Growth Fueled by Construction Boom and Oil & Gas Demand

The Business Research Company’s Vermiculite Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

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The vermiculite market has witnessed substantial growth, surging from $0.26 billion in 2023 to an estimated $0.28 billion in 2024, with a noteworthy compound annual growth rate (CAGR) of 7.9%. Projections indicate continued vigorous expansion, with the market size expected to reach $0.37 billion by 2028, sustaining a strong CAGR of 7.6%.

Construction Boom Driving Vermiculite Market Growth:
The vermiculite market is set to experience significant growth, propelled by the global surge in construction activities. Construction serves as a key driver, fostering demand for construction services and materials. Vermiculite, with its exceptional insulation and fire resistance properties, plays a crucial role in enhancing building energy efficiency and safety across various applications. The Office for National Statistics reported a notable annual increase of 5.6% in construction output in 2022 compared to the previous year, contributing to the rapid growth of the vermiculite market.

Oil and Gas Demand Boosting Vermiculite Market:
The increasing demand for oil and gas is poised to be a major catalyst for the vermiculite market. Vermiculite finds application as a proppant in hydraulic fracturing (fracking) operations, effectively holding open fractures in rock formations and thereby enhancing the extraction of oil and gas. According to the International Energy Agency, global oil demand is anticipated to rise by 6% between 2022 and 2028, reaching 105.7 million barrels per day (mb/d). This surge is supported by robust demand from the petrochemical and aviation sectors, further driving the vermiculite market.

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Key Market Players:
Major companies contributing to the growth of 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., and Carolina Perlite Company Inc.

Innovative Approaches Transforming Mining Operations:
The vermiculite market is witnessing transformative advancements in mining operations through the adoption of 3D printing for modular component manufacturing. The use of 3D printing technology allows for the on-site manufacturing of critical parts in remote locations, reducing delays due to unplanned maintenance and eliminating the need for large inventories. Miners are leveraging advanced heavy-lift transport to transport modular equipment to remote sites, offering a cost-effective alternative to on-site construction.

Fire-Resistant Housing Project in Cape Town:
The City of Cape Town Disaster Risk Management Centre has collaborated with Mandoval Vermiculite (Pty) Ltd. for the Overcome Heights pilot project. Mandoval Vermiculite will fund the application of a vermiculite-based fire-retardant compound on at least 300 informal housing structures, enhancing their fire resistance. The project aims to improve safety and resilience in informal settlements, showcasing the versatile applications of vermiculite beyond traditional uses.

Regional Overview:
In 2023, Western Europe emerged as the largest region in the vermiculite market, with Asia-Pacific securing the second-largest market share. The report encompasses regions such as Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Market Segmentation:
The vermiculite market covered in this report is segmented –
1) By Type: Large Grade Vermiculite, Fine And Finer Grade Vermiculite, Medium Grade Vermiculite
2) By Product: Crude Vermiculite, Exfoliated Vermiculite
3) By End-User Industry: Chemical, Agriculture, Automotive, Construction, Other End-User Industries

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Vermiculite Global Market Report 2024 from TBRC covers the following information:
• Market size date for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.

The Vermiculite Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on vermiculite market size, vermiculite market drivers and trends, vermiculite market major players, competitors' revenues, market positioning, and market growth across geographies. The vermiculite market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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