Cosmetics Segment is Expected to be the Fastest Growing During the Forecast Period for SAM Region

According to a new market research study on “SAM Halloysite Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Application” is expected to reach US$ 6.21 million by 2028 from US$ 4.50 million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the SAM halloysite market along with the drivers and restraints pertaining to the market growth. Rapid growth of end-use industries is the major factor driving the growth of the SAM halloysite market. However, issues associated with the stringent regulatory norms for mining and extraction of halloysite hinder the growth of SAM halloysite market.

The SAM halloysite market is segmented into application and country. By application, the SAM 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, SAM halloysite market is classified into Brazil, Argentina, and Rest of SAM.

Brazil is one of the most affected economies globally due to the COVID-19 pandemic. In South America, Brazil has the highest number of COVID-19 cases in the region, followed by Argentina, Colombia, Peru, and Chile. The governments in South America have taken various actions, such as lockdowns, trade bans, and travel restrictions, to protect their citizens and combat the spread of the novel coronavirus. The imposition of these restrictions may have a negative impact on the growth of the halloysite market. The construction industry in the region has been contracted sharply amid the COVID-19 pandemic. Limitations on trading activities have adversely affected the demand for halloysite from concrete and ceramic producing industries across the region, which is expected to restrain the growth of the halloysite market in short term in South America. However, the business activities are expected to gradually recover in the coming months as the governments from the region continue to push forward their reopening plan to kick start the economy. In some areas of Brazil, constructional activities and growth prospectus from end-use industries are almost back to the levels of prior years.

American Elements; Imerys S.A.; MERCK KGaA; and Nanoshel LLCare among the leading companies in the SAM 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.

Contact Us
Phone: +16467917070
Email Id: sales@businessmarketinsights.com