Halloysite Market Dynamics and Trends by 2028

The halloysite market size is expected to grow from US$ 39.64 million in 2021 to US$ 58.88 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028.

Halloysite is a tubular crystal structure that is traditionally used as a carrier in cosmetics and pharmaceuticals; as a filler in plastics, particularly PVC; and as a suspension agent in paints, inks, and filters. It is also used in high-tech applications such as water purification, hydrogen storage, soil remediation carbon capture, and renewable energy. Halloysite has a high aspect ratio, high whiteness, and nano-sized structure, which is particularly utilized by the ceramic industry. Thus, advantageous features of halloysite make it preferable across various industries, which drives the expansion of the halloysite market size.

The Asia Pacific accounted for the largest portion of the global halloysite market share. The increasing number of construction projects and high usage of ceramics across the region are some of the major factors influencing the halloysite market trends in the Asia pacific. The ceramic industry is expanding across Asia Pacific due to its increasing urbanization. The existence of various end-use industries, such as metal & mining, chemical, and other manufacturing industries, in countries such as China, India, Japan, and South Korea has increased the demand for ceramic in the region. In Asia Pacific, the automotive sector is also growing in the post-pandemic to achieve new normal, which is further augmenting the consumption of halloysite for paints and coating applications. Thus, booming growth prospects across vertical industries in Asia Pacific is propelling the halloysite market growth.

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Halloysite Market: Strategic Insights

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Impact of COVID-19 Pandemic on Halloysite Market

The COVID-19 pandemic has negatively impacted the global halloysite market owing to the manufacturing units shut down, rising raw material prices, labor shortage, supply chains disruptions, and financial instability. Halloysite is most widely used in the building and construction industry in cement and paints applications. Moreover, it is also used to manufacture ceramic products used in the construction sector. A major decline in the number of residential construction projects due to the financial crisis during the first phase of the global pandemic has negatively affected the halloysite market size.

The introduction of the COVID-19 vaccine has eased the situation, leading to a rise in business activities across the globe. Along with this, the demand for ceramics products and growth prospects in construction activities are driving the halloysite market growth. For instance, the Chinese government has recently introduced the New Infrastructure campaign to mitigate the economic impact of the COVID-19 outbreak while also promoting long-term sustainable growth. 5G networks, industrial internet, inter-city transportation and inner-city rail systems, data centers, artificial intelligence, ultra-high voltage, and electric vehicle charging stations will be the emphasis of New Infrastructure initiatives. Such initiatives are significantly contributing to the growth of the construction industry, thereby boosting the demand for halloysite. Thus, the halloysite market is expected to gain significant growth over the coming years amid the impacts of the COVID-19 pandemic.

Market Insights

Rapid Growth of End-Use Industries

Halloysite is used as an inert replacement for carbon nanotubes in high-tech applications, such as water purification, carbon capture, hydrogen storage, soil remediation, and renewable energy. Halloysite is most widely used in end-use industries, such as medical, cosmetic, polymer, and ceramic industries. The ceramic industry is expanding in Asia Pacific due to its increasing urbanization. The existence of established sectors such as metallurgical, chemical, and other industries in countries such as China, India, Japan, and South Korea has increased the demand for ceramic in the region. Increasing investments in the cosmetic industry are fueling the consumption of halloysite, which is anticipated to drive market growth in the future. As per the Cosmetics Europe, The Personal Care Association, the cosmetics and personal care industry contributes around US$ 32.85 billion to the European economy. Thus, booming growth prospects from various end-use industries are expected to fuel the halloysite market growth during the forecast period.

Application Insights

Based on application, the market is segmented into medical, cosmetic, ceramics, polymer, paints and coatings, and others. The medical segment is expected to grow at the fastest rate during the forecast period. Halloysite is used in the medical industry for various applications, such as bone implants, dental fillings, tissue engineering, wound care, bone implants, dental fillings, drug carrier, and tissue scaffolds. It is also used in capturing circulating tumor cells in the bloodstream e.g. leukemia cells. Drugs such as stimulants and hormones can be applied using halloysite nanotubes whereas, less drug per patch is required and improved delivery rates are possible.

A few players operating in the 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. The key companies adopt strategies such as the mergers and acquisitions, and research and development to expand customer base and gain significant share in the global market, which also allows them to maintain their brand name globally.

Halloysite Market Regional Insights

The regional trends and factors influencing the Halloysite Market throughout the forecast period have been thoroughly explained by the analysts at The Insight Partners. This section also discusses Halloysite Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Halloysite Market Report Scope

Halloysite Market Players Density: Understanding Its Impact on Business Dynamics

The Halloysite Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Report Spotlights 

• Progressive industry trends in the halloysite market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the halloysite market from 2019 to 2028
• Estimation of global demand for halloysite
• Porter’s Five Forces analysis to illustrate the efficacy of buyers and suppliers operating in the industry
• Recent developments to understand the competitive market scenario
• Halloysite market trend and outlook as well as factors driving and restraining the halloysite market growth
• Assistance in the decision-making process by highlighting market strategies that underpin commercial interest, leading to the market growth
• The size of the halloysite market size at various nodes
• Detailed overview and segmentation of the market, as well as the halloysite industry dynamics
• Size of the halloysite market in various regions with promising growth opportunities

Halloysite Market – by Application

Based on application, the market is segmented into medical, cosmetic, ceramics, polymer, paints and coatings, and others.

Company Profiles

• American Elements
• APPLIED MINERALS INC.
• Imerys
• I-Minerals Inc.
• MERCK KGaA
• Otto Chemie Pvt. Ltd.
• Nanoshel LLC
• Phantom Plastics
• Northstar Clay Mines LLC
• Esan