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Kaolin Market is expected to cross $6.5bn by 2024: Global Market Insights, Inc.

Author : Ravi Chawat | Published Date : 2020-10-16 

Kaolin market share for ceramic is likely to witness highest growth at over 4.5% CAGR by 2024. It is chiefly used in ceramic tiles manufacturing to develop its thermal resistance. Increasing ceramic tiles industry share for wall and flooring applications will drive the global industry share by 2024.

Kaolin Market is poised to surpass USD 6.5 billion, Metakaolin Market is likely to exceed USD 150 million by 2024. Escalating end-user industries such as construction, ceramics, paints & adhesives, plastics, and paper in the past few years is the prime reason driving the overall kaolin market share throughout the projected timespan. For instance, the overall ceramic tiles industry share in 2015 was around 13 million square meters and will likely reach 28,000 million square meters by 2024; growing at over 9% CAGR. This trend will subsequently boost the business growth. In addition, the product also finds application in tire manufacturing to upgrade its mechanical properties. Increasing automotive production and sales in Asia Pacific and Latin America on account of increasing consumer spending towards lavish lifestyles will complement the global kaolin market size in the coming years.

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In 2015, kaolin market share for paper comprised for the major chunk of the global industry and shall experience escalating growth more than 3.5% between 2016 and 2024. Increasing product usage in paper coating and filling applications to improve its features such as gloss, brightness, smoothness, and opacity will complement the industry growth by 2024.

In 2015, concrete accounted for a significant chunk in global metakaolin market share. The product finds major application in the concrete applications to improve its flexural strength, splitting tensile and compressive strength. Concrete is a major product in the construction industry. Thus, sturdy construction industry flexural strength will ultimately propel the industry size in the coming years. Additionally, metakaolin market share for mortar will witness approximately 4% growth by 2024.

North America, mainly led by the U.S. accounted for approximately 20% of the total kaolin market share in 2015. Growing U.S. economy post 2008 economic downturn has positively influenced the construction business. Additionally, increasing residential renovation activities along with drifting consumer attention towards replacing wood flooring with ceramic tiles will complement regional industry by 2024.

In 2015, Asia Pacific registered a notable share in the kaolin market size and is likely to observe growth more than 4.5% between 2016 and 2024. Promising construction industry growth in India, Japan and China is an important regional industry growth prospect. Robust automotive manufacturing and sales in India, China Malaysia and Indonesia will drive regional industry size. Furthermore, increasing government initiatives in India and Southeast Asia countries to promote education will substantially boost the product demand for paper applications.

Browse Related Reports:

https://www.gminsights.com/industry-analysis/attapulgite-market

https://www.gminsights.com/industry-analysis/barite-market

About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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