
Published On: Feb 2022
Published On: Feb 2022
According to a new market research study of “North America Kaolin Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Process, End-Use Industry and Country.” The North America kaolin market is expected to reach US$ 1,052.0 million by 2028 from US$ 826.6 million in 2021 and is estimated to grow at a CAGR of 3.5% from 2021 to 2028. The report highlights trends prevailing in the North America kaolin market and the factors driving market along with those that act as hindrances.
The rising demand for automobiles favors the growth of the kaolin market. The automotive industry is one of the major beneficiaries of kaolin products as the industry extensively uses rubber-made components and parts. Kaolin improves the chemical-physical properties and performance of rubber automotive components. Kaolin is widely used in automotive tires to provide stiffness and reinforce the rubber, bringing tear resistance and tensile strength properties in tires. In addition, it helps in improving the air permeability and gas barrier of inner tire liners, which extends the service life of tires. Furthermore, kaolin finds wide application in car body seals due to the reduced electrical conductivity, protecting against corrosion properties. Additionally, kaolin is used to manufacture automotive components such as fluoroelastomer O-rings for fuel injector seals, gaskets, and hoses. Furthermore, kaolin finds its application in manufacturing waterborne paints and coatings, which are extensively used in the automotive industry to paint and coat automobile bodies and surfaces. The growing automobile industry globally fosters the demand for various kaolin-made auto components and parts, fueling the market growth. As per the OICA report, in 2019, the automotive industry manufactured over 92 million automotive vehicles, including passenger and commercial vehicles. In 2020, the production number of automotive reduced to 77 million vehicles due to the COVID-19 pandemic; however, the first three quarters of 2021 have shown more than 10% growth in the production of automotive vehicles compared to the first three quarters of 2020. Thus, the growing automotive industry is driving the kaolin market.
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 kaolin in the region. The COVID-19 pandemic has adversely impacted the construction industry. The construction industry has faced supply chain issues regarding construction materials. The COVID-19 pandemic has also impacted the automotive industry, as major automotive and tire plants temporarily halted production.
However, the market is reviving because of the government's significant measures, such as vaccination drives. The construction industry is also overcoming the challenges of supply chain disruptions of their raw materials. Many players seek investment opportunities as businesses gain confidence in stabilizing economies and anticipate increased demand. Hence, the increase in demand for kaolin in various applications, such as construction, packaging, and automotive, and significant investments by prominent manufacturers are expected to drive the kaolin market in the coming years.
Based on process, the North America kaolin market is segmented into water washed, airfloat, calcined, delaminated, and others. Based on end-use industry, the North America kaolin market is segmented into paper, ceramic and sanitaryware, paints and coatings, plastic, rubber, and others. Geographically, the North America kaolin market is sub-segmented into U.S, Canada and Mexico.
American Elements, BASF SE, Burgess Pigment Company, Imerys S.A., Sibelco, Thiele Kaolin Company, I-Minerals Inc. and KaMin LLC are among the leading companies operating in the North America kaolin market.
Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com