The Business Research Company’s Vermiculite Global Market Report 2021: COVID-19 Impact and Recovery to 2030
LONDON, GREATER LONDON, UK, July 15, 2021 /EINPresswire.com/ — Modular components design with 3D printing is being widely used in the mining industry. 3D printing technology enables companies in remote locations to manufacture critical parts onsite as per the requirement, thereby reducing delays due to unplanned maintenance and also eliminates the need for holding inventories. Miners are relying on advanced heavy lift transport to move modular equipment to remote sites. This technology enables miners to construct processing units in low-cost factories elsewhere, thus avoiding expensive onsite construction of modular equipment.
The vermiculite market consists of sales of vermiculite by entities (organizations, sole traders and partnerships) that mine vermiculite, which is used in agriculture, automotive, chemical packaging, construction, fire protection, and other applications.
The global vermiculite market is segmented by type into large grade vermiculite, fine and finer grade vermiculite, medium grade vermiculite, by product into crude vermiculite, exfoliated vermiculite, and by end-user industry into chemical, agriculture, automotive, construction, others.
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The global vermiculite market is expected to grow from $0.24 billion in 2020 to $0.26 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.31 billion in 2025 at a CAGR of 4%.
Asia Pacific is the largest region in the global vermiculite market, accounting for 27% of the market in 2020. Western Europe is the second largest region accounting for 20% of the global market. Middle East is the smallest region in the global vermiculite market.
The major players covered in the global perlite and vermiculite market are Palabora Mining Company, Samrec Vermiculite, Virginia Vermiculite Llc, UBM União Brasileira de Mineração S.A., JSC Kovdorsluda.
Vermiculite Global Market Report 2021: COVID-19 Impact and Recovery to 2030 is one of a series of new reports from The Business Research Company that provides vermiculite global market overview, forecast vermiculite global market size and growth for the whole market, vermiculite global market segments, and geographies, vermiculite market trends, vermiculite market drivers, restraints, leading competitors’ revenues, profiles, and market shares.
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