Medical Segment to Dominate North America Halloysite Market during 2021–2028

According to a new market research study on “North America Halloysite Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application” is expected to reach US$ 8.36 million by 2028 from US$ 5.57 million in 2021. The market is estimated to grow at a CAGR of 6.0% from 2021 to 2028. The report provides trends prevailing in the North America halloysite market along with the drivers and restraints pertaining to the market growth. Swift growth of end-use industries market is the major factor driving the growth of the North America halloysite market. However, issues associated with the strict regulatory norms for mining and extraction of halloysite hinder the growth of North America halloysite market.

The North America halloysite market is segmented into application and country. By application, the North America 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, North America halloysite market is classified into US, Canada, and Mexico.

North America is one of the worst affected economies due to the COVID-19 pandemic. The unprecedented rise in the number of COVID-19 cases across the US and Canada and the subsequent lockdown of numerous manufacturing facilities in the countries have negatively influenced the growth of various markets. The significant disruption in manufacturing has had a negative impact on the demand for halloysite in the region. The COVID-19 pandemic has adversely impacted the construction industry. The industry has faced supply chain issues regarding the supply of construction materials. In New York, Governor Cuomo announced the shutdown of all nonessential construction activities, except for emergency construction. Emergency construction comprises projects that protect the health and safety of occupants or projects that can be unsafe if they remained unfinished. The market in North America is reviving because of the government's significant measures, such as vaccination drives, ease in restrictions, and growing investment prospects in industries. The construction industry is also overcoming the challenges related to the supply chain of their raw materials. Many players seek investment opportunities as businesses gain confidence in stabilizing economies and anticipate increased demand. This is expected to provide the impetus for the halloysite market growth.

American Elements; Applied Minerals INC.; Esan; Imerys S.A.; I-Minerals Inc.; MERCK KGaA; Nanoshel LLC; Northstar Clay Mines LLC; and Phantom Plastics are among the leading companies in the North America 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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