Global Vermiculite Market Trends And Strategies Of Major Players In The Vermiculite Market 2021-2031
15 Jan, 2021
The vermiculite market consists of sales of vermiculite by entities (organizations, sole traders and partnerships) that mine vermiculite, which is used in agriculture, automotive, chemical packaging, construction, fire protection, and other applications.
Global Vermiculite Market Size And Drivers:
The global vermiculite market is expected to grow from $0.24 billion in 2020 to $0.26 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The market is expected to reach $0.31 billion in 2025 at a CAGR of 4%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges.
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Trends In The Global Vermiculite Market
Modular components design with 3D printing is being widely used in the mining industry. 3D printing technology enables companies in remote locations to manufacture critical parts onsite as per the requirement, thereby reducing delays due to unplanned maintenance and also eliminates the need for holding inventories. Miners are relying on advanced heavy lift transport to move modular equipment to remote sites. This technology enables miners to construct processing units in low-cost factories elsewhere, thus avoiding expensive onsite construction of modular equipment.
Global Vermiculite Market Segments:
The global vermiculite market is further segmented based on type, product, end-user industry and geography.
By Type: Large Grade Vermiculite, Fine And Finer Grade Vermiculite, Medium Grade Vermiculite
By Product: Crude Vermiculite, Exfoliated Vermiculite
By End-User Industry: Chemical, Agriculture, Automotive, Construction, Others
By Geography: The global vermiculite market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific was the largest region in the global vermiculite market, accounting for 27% of the total market.
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Vermiculite Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides vermiculite market overviews, analyzes and forecasts market size and growth for the global vermiculite market, vermiculite market share, vermiculite market players, vermiculite market segments and geographies, vermiculite market’s leading competitors’ revenues, profiles and market shares. The vermiculite market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.