WOLLASTONITE POWDER MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Wollastonite Powder Market Size and Trends

The wollastonite powder market is estimated to be valued at USD 246.9 Mn in 2024 and is expected to reach USD 442.8 Mn by 2031, growing at a compound annual growth rate (CAGR) of 8.7% from 2024 to 2031.

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The demand for wollastonite powder is expected to grow during the forecast period due to the increasing usage of wollastonite as a reinforcing filler in the plastics, polymers, and ceramics industries. Wollastonite powder is increasingly being used as a substitute to talc and mica in plastics, polymers, and paints & coatings. Properties, such as high tensile strength, non-combustible nature, and chemical stability, promote the use of wollastonite as a versatile mineral admixture in various applications such as polymer composites, friction products, insulation, ceramic applications, and paints & coatings. Increasing R&D activities for novel applications and growth in end-use industries like construction and automotive are expected to drive the wollastonite powder market growth during the forecast period.

Rising Demand from the Construction Industry

The construction industry has been a major consumer of wollastonite powder over the past few years. Growing construction industry is expected to drive the market. For instance, according to data published by the Canadian Construction Association in 2023, the industry contributes about US$ 151 billion to the economy annually, accounting for 7.4% of Canada's gross domestic product (GDP).Wollastonite finds various applications in the construction sector such as in concrete and plaster work. It is commonly used as an additive in concrete and plaster to enhance their workability, strength, and impermeability. With properties like high hardness, chemical inertness, and temperature stability, wollastonite makes concrete and plaster more durable even under extreme climatic conditions. The global construction industry has witnessed steady growth over the past decade on account of rapid urbanization, rising population, and increasing investments in infrastructure development projects across both developed and emerging economies. Mega infrastructure projects related to housing, transportation, water supply, and energy are continuously coming up. At the same time, maintenance and renovation activities of existing buildings and structures have increased significantly. All these factors have boosted the consumption of cement, concrete, and other construction materials. With higher consumption of construction materials, the demand for additives and supplements like wollastonite has also risen accordingly.

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The global ceramics industry has emerged as another major end-user industry driving the growth of the wollastonite powder market. Ceramics have widespread applications across various sectors including building materials, sanitaryware, refractories, electrical equipment, and automotive components. Wollastonite ceramic is commonly used where high mechanical strength, chemical inertness, and thermal shock resistance properties are required. Some key properties of wollastonite that have led to its increased usage in ceramics are uniform particle size, high aspect ratio, pseudocrystalline structure, and lack of cleavage planes. These attributes allow wollastonite to enhance mechanical properties of ceramics while reducing thermal expansion and shrinkage during firing.