The halloysite market size is expected to reach US$ 63 Mn by 2031 from US$ 40.4 Mn in 2024 at a CAGR of 6.5% during the forecast period.
Halloysite Market Trends
Figure 2. Halloysite Market Share (%), By Type, 2024
Halloysite Market Drivers:
Rising Use in Technical Ceramics: The use of halloysite in technical ceramics applications is expected to significantly drive the market during the forecast period. Halloysite finds widespread use in the manufacturing of technical ceramics on account of its thermal and electrical insulating properties along with high mechanical strength. It is commonly used as a nucleating agent and reinforcing additive in ceramic matrix composites and advanced ceramics. The unique tubular morphology and nanotubular structure of halloysite provides benefits such as enhanced mechanical properties, heat resistance and fracture toughness when added to ceramic matrix materials.
Technical ceramics made using halloysite demonstrate improved strength, stiffness and thermal shock resistance. This makes halloysite an attractive additive for manufacturing ceramic components for applications in the electronics, automotive, aerospace and medical industries. For instance, halloysite reinforced ceramics show higher flexural strength and fracture toughness, enabling their use in making engine components for aircraft and automobile. It also helps develop ceramics with strong dielectric properties suitable for electrical insulators. The growing demand for advanced technical ceramics from diverse end-use industries is thus expected to drive significant growth in the halloysite market over the forecast period.
Increasing Demand from the Paints & Coatings Industry: The paints & coatings industry has emerged as a major end user of halloysite and is expected to contribute significantly to market growth in the coming years. Halloysite finds wide application as a functional filler in paints and coatings due to its nanotubular morphology, high surface area and polar hydroxyl groups on its surface. When added to paints and coatings, halloysite is able to enhance properties such as barrier performance, scrub resistance, UV protection, mechanical strength and thermal stability. The hollow tubular structure allows halloysite to encapsulate pigments, resulting in brighter and long-lasting colors for paints and coatings.
Rising consumption of halloysite based paints and coatings can be attributed to the increased need for protective, decorative and functional coatings across various end-use industries like construction, automotive, industrial machinery and consumer goods. Growing infrastructure development and construction activities in emerging economies are driving the demand for high-quality facades, roof coatings and metal coatings. The automotive industry is also increasing the application of advanced paint technologies for improved aesthetics and corrosion protection. Thus, the surging requirements from the paints & coatings market are expected to propel the demand for halloysite significantly over the forecast period.
Global Halloysite Market Report Snapshots
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