Medical Segment to Dominate APAC Halloysite Market during 2021–2028

According to a new market research study on “APAC Halloysite Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application” is expected to reach US$ 30.04 million by 2028 from US$ 19.32 million in 2021. The market is estimated to grow at a CAGR of 6.5% from 2021 to 2028. The report provides trends prevailing in the APAC halloysite market along with the drivers and restraints pertaining to the market growth. Wide scope application and discovery of halloysite deposits is the major factor driving the growth of the APAC halloysite market. However, issues associated with the stringent regulatory norms for mining and extraction of halloysite hinder the growth of APAC halloysite market.

The APAC halloysite market is segmented into application and country. By application, the APAC halloysite market is categorized into medical, ceramics, cosmetics, polymer, paints and coatings and others. The medical segment dominated the market in 2020 and cosmetics segment is expected to be the fastest growing during the forecast period. Based on country, APAC halloysite market is classified into Australia, China, India, Japan, South Korea, and Rest of APAC.

The COVID-19 pandemic is anticipated to cause a significant economic loss in Asia Pacific. Asian economies have been hit hard due to the pandemic. The governments of various Asia-Pacific economies are taking possible steps to restrict the spread of the novel coronavirus by announcing country-wide lockdowns, which has slightly restrained the growth of the industrial sectors. Various end-use sectors, such as construction, automotive, ceramic, and sanitaryware, have been hit hard by the pandemic, negatively impacting the consumption of halloysite in the region. Many construction projects were temporarily halted due to the COVID-19 pandemic, which also negatively affected the demand for halloysite. However, the construction sector is overcoming the challenges of labor shortage and supply chain disruptions of their raw material. Moreover, various countries from the region restarted their business activities owing to ease in restrictions and mass vaccination program. Therefore, the demand for halloysite is witnessing marginal recovery in the region. Also, rising government investments in the development of modern infrastructure across the construction industry in China and India are expected to contribute to the overall market growth in the coming years.

American Elements; Applied Minerals INC.; Esan; Imerys S.A.; I-Minerals Inc.; MERCK KGaA; Nanoshel LLC; Northstar Clay Mines LLC; Otto Chemie Pvt. Ltd.; and Phantom Plastics are among the leading companies in the APAC halloysite market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

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