WollastoniteMarket: Introduction
TransparencyMarket Research delivers key insights on the global wollastonitemarket. In terms of revenue, the global wollastonite market isestimated to expand at a CAGR of 8.79% duringthe forecast period, owing to numerous factors, regarding which TMR offersthorough insights and forecasts in its report on the global wollastonite market.
The globalwollastonite market is broadly affected by several factors, including usage ofwollastonite in various applications such as ceramics, paints & coatings,plastics & rubber manufacturing, metallurgical, and friction products. Therise in global demand for ceramics has led to a significant growth in the usageof wollastonite to increase the production output. The growth in production anddemand for ceramics & related products is expected to be the primary driverfor the expansion of the wollastonite market.
Wollastonite Market: Dynamics
Wollastoniteis primarily used in the production of ceramics. The global demand for ceramicshas been increasing at a significant pace. This is boosting the production ofwollastonite in several countries. Thus, the increase in the production oftiles, mugs, tableware, cookware, and sanitary ware is propelling the globalwollastonite market.
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Wollastoniteis being increasingly used as a substitute for short-fiber asbestos infire-resistant wall boards, cement products, and friction products.Wollastonite is an important additive in friction products such as brakepistons, brake linings, and clutches. In North America, asbestos formulationsfor friction products are being replaced by wollastonite owing to the latter’s lowthermal conductivity and high aspect ratio structure. Additionally, outside theU.S., wollastonite is also being used to replace asbestos in gaskets.
Wollastoniteis resistant to chemical attacks and stable at high temperatures. It improvesflexural and tensile strength, making it an ideal substitute for asbestos inproducts such as insulation for boards and panels, paints & coatings,plastics, roofing tiles, and friction devices (brakes and clutches).Furthermore, the crystal structure and physical properties of wollastonite arestable nearly at 1,120°C, making wollastonite an ideal alternative to asbestosin thermal insulation applications.
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Wollastonite Market: ProminentRegions
AsiaPacific dominates the global wollastonite market. The market in the region isanticipated to expand at a CAGR of more than 8.39% duringthe forecast period. The increase in the demand for wollastonite in variousend-use industries such as construction and automotive is driving thewollastonite market in Asia Pacific. China is a key wollastonite market in AsiaPacific. It held major share of the wollastonite market in Asia Pacific in 2020.The country is estimated to maintain its dominant position in the region duringthe forecast period.
NorthAmerica is also a prominent region of the global wollastonite market. The U.S.led the wollastonite market in North America in 2020. The presenceof a large number of wollastonite manufacturers is driving the demand forwollastonite in North America.
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Wollastonite Market: Key Players
The globalwollastonite market is consolidated with the presence of key players. Prominentplayers operating in the global wollastonite market include NordkalkCorporation, Wolkem, Imerys S.A., ACBM JSC, R.T. Vanderbilt Holding CompanyInc., Canadian Wollastonite, Xinyu South Wollastonite Co., Ltd, LishuDadingshan Wollastonite Co. Ltd, Changxing Earth New Type of Material Co., Ltd,and Jilin Shanwei Wollastonite Mining CO., LTD.
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