Published Date : 17 Nov 2022
The global wollastonite powder market size accounted for USD 246.24 million in 2022 and is predicted to hit around USD 459.3 million by 2030, poised to grow at a CAGR of 8.1% during the forecast period from 2022 to 2030.
Wollastonite is a naturally occurring mineral that is most white to yellow-brown. It has strong force, characteristics of firing, and the ability to minimize crazing. It is chemically composed of calcium, oxygen, and silicon. The chemical formula of wollastonite powder is CaSiO3. It is generally known as metasilicate calcium. It has strong strength, the ability to decrease crazing, and the characteristics of shooting. As silica and alkali source, in ceramics manufacturing. Used in the manufacture of wall tiles, ceramic insulators semi-glass bodies, glazes, thermoplastics, adhesives, and abrasives for ceramic bonding. Wollastonite was found to be useful for its reactivity in acid conditions as an additive and soil conditioner to plant fertilizer. It provides lasting protection counter to soil acidification, in comparison to lime or calcite. Wollastonite has also been used in several countries as a sluggish transporter for insecticides and pesticides.
The Wollastonite powder industry will register significant growth in the next 10 years, owing to the rapidly expanding construction industry across the globe. Growing adoption of wollastonite powder for end-use applications in the rubber, ceramics, and plastic industries in the emerging as well as developed economies worldwide is among the major factors boosting the growth of the target market in the next few years. In addition to this, wollastonite powder is widely used in the manufacturing of fire-resistant insulating boards and cement boards owing to its lightweight. Property which is supporting the growth of the wollastonite powder industry.
Further, wollastonite powder is the most cost-efficient material among all the reinforcement materials in the usage of whitewares and ceramics which is anticipated to augment the growth of the wollastonite powder industry in the coming years. Wollastonite powder is widely preferred among ceramic industries as it offers excellent benefits including low emissions of carbon dioxide (CO2) and low ignition loss, hence the major companies in the wollastonite powder market is increasing their manufacturing capacities in order to enhance their market position.
However, strict government regulation associated with greenhouse gas emissions may hamper the growth of the target market in the near future. Also, the material cost and cost of wollastonite powder associated to aqueous carbonation in the great consumption of energy can impede the growth of the global market over the forecast period of time. Nevertheless, the growing adoption of ultrafine wollastonite along with the increasing application of synthetic wollastonite is a key trend witnessed in the target industry. This trend will continue to fuel target market growth in the near future.
Wollastonite Powder Market Report Scope
|Market Size In 2022||USD 246.24 million|
|Market Size By 2030||USD 459.3 million|
|Growth Rate from 2022 to 2030||
CAGR of 8.1%
|Forecast Period||2022 to 2030|
The research report deals with the industry prospects of wollastonite powder products around regions including Europe, North America, Latin America, Asia-Pacific, and the Middle East and Africa. North America will dominate the global industry due to huge investments in renewable power generation capacities in the countries is predictable creating tremendous demand for wollastonite powder, in the countries of North America. The presence of leading players in the region along with strategies that are implemented by the major players in the countries of North America is expected to witness substantial growth in the target industry in the near future.
Asia Pacific is likely to list the noteworthy CAGR, on account of rising awareness about the usage of wollastonite powder in emerging economies. Also, Most of the key players operating in the industry are investing heavily in order to get a competitive edge in the wollastonite powder market in the Asia Pacific. In addition to this growth of the European countries is attributed to the growing construction industry that supports the wollastonite powder market growth. The Latin America wollastonite powder market is expected to grow at a moderate CAGR in the near future. Also, the Middle East and Africa region is expected to create lucrative growth opportunities in the target industry.
Key Market Players and Strategies:
The major companies functioning worldwide are Wolkem, R.T. Vanderbilt Holding Company, Inc. Changxing Earth New Type of Material Co., Ltd. Nordkalk Corporation, Jilin Shanwei Wollastonite Mining CO., LTD. ACBM JSC, Imerys, Canadian Wollastonite, Xinyu South Wollastonite Co., Ltd. among others. Enormous investment in the study of wollastonite powder accompanied by strategic collaborations like mergers, and company acquisitions are business approaches commenced by the major companies in the wollastonite powder market. In 2019, Integra Lifesciences Holdings Corporation a major player in the target market has acquired Rebound a medical device company, Therapeutics Corporation. This company produces surgiscope systems AURORA.
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