Rapid Growth of End-Use Industries to Boost the Global Halloysite Market. Asia-Pacific is anticipated to account for the largest share of the global market.
NEW YORK, UNITED STATES, March 15, 2022 /EINPresswire.com/ — The scope of The Insight Partners recent study on the “Halloysite Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Application (Medical, Cosmetic, Ceramics, Polymer, Paints and Coatings, and Others)” includes the description of factors fueling the market growth, estimation and forecast of revenue, and identification of significant market players and their key developments, along with providing market share analysis. The halloysite market size to reach to US$ 58.88 million by 2028 from US$ 39.64 million in 2021 and it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.
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The halloysite nanotubes (HNTs) have emerged in recent years as promising nanomaterials. HNTs have attracted significant interest in Nanotechnology applications owing to their excellent physical properties. Halloysite nanotubes are expected to be a promising filler in clay polymer nanocomposites due to their high specific surface areas, high aspect ratio, good dispersion, and excellent mechanical properties. Two crucial factors of halloysite–polymer nanocomposites include good dispersion of the halloysite in the polymer matrix and a desirable interfacial affinity between the halloysite and the polymer. These factors help determine the performance of halloysite–polymer nanocomposites which enable its application in various end-use industries. Thus, such emergence of nanomaterials is trending the consumption of halloysite which help drive the market growth.
Halloysite Market: Growth Drivers
The rapid growth of end-use industries and significant growth in the cosmetic and medical industries are the key drivers for the growth of the global halloysite market. Halloysite is used in various applications such as medical, cosmetics, ceramics, polymer, paints and coatings, and others. It is used in the medical industry for various applications such as tissue engineering, bone implants, dental fillings, wound care, drug carrier, release system, and tissue scaffolds. It is also used in capturing circulating tumor cells in the bloodstream e.g. leukemia cells.
The construction industry across the globe is growing at a rapid pace. The growing development of modern infrastructure, rising government investments, and an increasing number of residential as well as commercial construction activities are some of the key factors supporting the growth of the construction industry worldwide which is further augmenting the usage of halloysite. Moreover, governments of countries like China and India are heavily focusing on expanding their infrastructure capabilities. For instance, to alleviate the economic impact of the COVID-19 outbreak while also fostering long-term sustainable growth, the Chinese government has launched the New Infrastructure initiative. New Infrastructure initiatives will focus on 5G networks, industrial internet, inter-city transit, and intercity rail systems, data centers, artificial intelligence, ultra-high voltage, and electric vehicle charging stations. Such initiatives by the governments of emerging economies are expected to contribute towards the growth of the construction sector which will eventually favor the growth of the global halloysite market over the coming years. Thus, growth in end-use industries is fueling the kaolin market growth over the forecast period.
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Halloysite is an aluminosilicate clay mineral that can be used as an inert replacement for carbon nanotubes in high-tech applications such as water purification, hydrogen storage, carbon capture, soil remediation, and renewable energy. The halloysite is most widely used in end-use industries such as cosmetic, medical, polymer, and ceramic industries. Besides, there is a growing demand for the halloysite for use as a carrier for producing numerous cosmetic products such as gels, creams, and lotions. It offers immobilization of a solid-phase ingredient and sustained release of liquid ingredients in cosmetics.
Halloysite Market: Competitive Analysis
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.
Impact of COVID-19 Pandemic on Halloysite Market
The COVID-19 pandemic has significantly disrupted the manufacturing sector in terms of operational efficiency owing to extended lockdowns across different regions, restrictions imposed on international trades, shutdown of manufacturing units, travel bans, supply chain disintegration, shortage in the raw materials supply, and many other factors. The COVID-19 pandemic has negatively impacted the global halloysite market owing to the manufacturing units shutdown, rising raw material prices, labor shortage, supply chains disruption, and financial instability. Halloysite is most widely used in various industries, such as construction, paints and coatings, cosmetics, ceramics, and automotive, which were dramatically impacted by the pandemic. Thus, a major decline in the number of residential construction projects due to financial crisis and declining trend from end-use industries owing to the pandemic has significantly hampered the market growth. However, a rise in vaccination and ease in restrictions are expected to drive the halloysite market growth during the forecast period.
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Halloysite Market by Application
Based on application, the global halloysite market is segmented into medical, cosmetic, ceramics, polymer, paints and coatings, and others. The medical segment is expected to witness the fastest growth over the forecast period. Halloysite is used in the medical industry for various applications, such as bone implants, tissue engineering, dental fillings, drug carrier, wound care, release system, and tissue scaffolds. Hence, the growing adoption of halloysite in the medical industry for therapeutic applications is driving the market growth.
Press Release: https://www.theinsightpartners.com/pr/halloysite-market
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originally published at Health - Trend Magazine
