Vermiculite Mining Market Characteristics
The vermiculite mining 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.
Competitive Landscape of the Vermiculite Mining Market
Major players in the global vermiculite mining market include Palabora Mining Company, Samrec Vermiculite (Zimbabwe) (Pvt.) Ltd, Virginia Vermiculite Llc, UBM Uniao Brasileira de Mineracao S.A., JSC Kovdorsluda.
Vermiculite Mining Market Size
The vermiculite mining market size is expected to reach a higher value by 2022, significantly growing at a steady CAGR during the forecast period. The growth in the vermiculite mining market is due to increase in sales in rapidly developing countries such as China and India owing to rise in disposable income, increased demand for, availability of credit.
However, the market for vermiculite mining is expected to face certain restraints from several factors such as interest rate increases, workforce issues and safety.
Vermiculite Mining Market Segmentation
The global vermiculite mining market is further segmented based on type and geography.
By Type - The vermiculite mining market is segmented into powder products, flakes products, boards products.
By Geography - The global vermiculite mining is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia-Pacific vermiculite mining market accounts the largest share in the global vermiculite mining market.
Trends in the Vermiculite Mining 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. Vermiculite miners are relying on advanced heavy lift transport to move modular equipment to remote sites.
Potential Opportunities in the Vermiculite Mining Market
With increase in positive economic outlook, improved earning capacity, emerging markets growth, the scope and potential for the global vermiculite mining market is expected to significantly rise in the forecast period.