According to Precedence Research, the global wollastonite powder market was estimated at US$ 210.7 million in 2020 and is projected to reach US$ 459.3 million by 2030, registering a CAGR of 8.1 % from 2021 to 2030. The report contains 150+ pages with detailed analysis.
The report provides the overall revenue of the global wollastonite powder market from 2017 to 2030, considering 2020 as the base year and 2030 as the forecast year. The study includes drivers and restraints of this global market. It offers a thorough analysis of the market revenue status, growth, future trends, and forecast of the global wollastonite powder market for the period from 2017 to 2030.
Crucial factors accountable for market growth are:
– Increased applicability in plastics, and rubber applications.
– Wollastonite is acquiring popularity as a cost-efficient reinforcement material in ceramics and whitewares
– Companies in the wollastonite powder market are increasing their production capacities
– Increasing construction activities worldwide
Scope of the Study
This market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, product, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
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COVID-19 Impact on Global Wollastonite Powder Market
The COVID-19 explosion has had an impact on world’s primary markets. COVID-19 effect on the global industry is adverse. The North America is largest wollastonite powdermarket, but supply and demand for the wollastonite powder has decreased with spread of covid and lockout situations in the U.S.Because of COVID-19, instability of the supply chain, volatility in the supply of raw materials, inadequate manpower in the production facility and less demand for end-use customers have hindered the growth of the target industry in developed and developing economies worldwide. However, after the launch of covid vaccine, companies are coming back to their original position by resuming to the work with greater speed. Hence, in the post covid world, construction activities are increasing again that are boosting demand for the wollastonite powder and driving industrial growth.
|Market Size||US$ 459.3 Million by 2030|
|Growth Rate||CAGR of 8.1% From 2021 to 2030|
|Forecast Period||2021 to 2030|
|Regional Scope||North America, Europe, Asia Pacific, Middle East & Africa, Latin America|
|Companies Mentioned||Wolkem, R.T. Vanderbilt Holding Company, Inc., Nordkalk Corporation, ACBM JSC, Imerys, Canadian Wollastonite, Xinyu South Wollastonite Co., Ltd.|
Key Findings of Wollastonite Powder Market Study
New Formulations Aim at Fighting Off Competition:
The key players in the wollastonite powder market has been witnessing stiff competition from substitutes such as steel fibers, ceramic fibers, and glass fibers. Thus, manufacturers are keen on improving the cost-efficiency of their products as well the functional features where these products will be utilized. Moreover, they are engaging with distributors in order to tap into the vast revenue streams in countries with rapidly rising construction industry. Asia Pacific has thus become a hotbed of opportunities. Growing focus of governments in the Middle East countries to provision affordable housing has also spurred the use of wollastonite powders in range of construction materials in recent years.
Manufacturers Aim at Product Efficacy for Meeting Major Application Needs:
There is a growing focus on developing products that can meet the specific functional needs in major end-use industries. Plastics and coatings industries have attracted the attention of players in recent years. In addition, manufacturers are notably focusing on meeting the needs of functional additives for waterborne and solvent-borne systems, as well as in size and shape of the powder. For instance, brands are keen on increasing the in-can stability of wollastonite powder.
Numerous Industries Utilize Functional Characteristics:
Wollastonite powder market has emerged as an attractive functional filler and lightweight reinforcing fillers for various architectural applications. For instance, high demand for high-quality calcium silicates are present in ceramics. Rise in demand for wollastonite powders in metallurgy, steel making, and in making floor tiles has spurred the growth prospects in the market.
Top Players contending in the Market:
Major market companies are aiming towards innovative advancements in order to enhance their position in the target industry. Major companies are:
- R.T. Vanderbilt Holding Company, Inc.
- Changxing Earth New Type of Material Co., Ltd.
- Nordkalk Corporation
- Jilin Shanwei Wollastonite Mining CO., LTD.
- ACBM JSC
- Canadian Wollastonite
- Xinyu South Wollastonite Co., Ltd.
Forimproved status of wollastonite powder, and strategies accepted by Precedence Research projected the upcoming growth of the wollastonite powder market.
Major Market Segments Covered:
- Friction Products
- North America
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
Why should you invest in this report?
If you are aiming to enter the global wollastonite powder market, this report is a comprehensive guide that provides crystal clear insights into this niche market. All the major application areas for wollastonite powder are covered in this report and information is given on the important regions of the world where this market is likely to boom during the forecast period of 2021-2030 so that you can plan your strategies to enter this market accordingly.
Besides, through this report, you can have a complete grasp of the level of competition you will be facing in this hugely competitive market and if you are an established player in this market already, this report will help you gauge the strategies that your competitors have adopted to stay as market leaders in this market. For new entrants to this market, the voluminous data provided in this report is invaluable.
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