Global Halloysite Clay Market: Overview
Halloysite clay is a unique and versatile nanomaterial that is formed by surface weathering of aluminosilicate minerals. It is composed of aluminum, silicon, hydrogen, and oxygen. Halloysite belongs to the Kaolin subgroup of minerals and has similar chemical structure as Kaolinite. Halloysite molecules have a tube-like structure which makes it a favorable material for application in nanomaterial. Unlike carbon nanotubes, halloysite clay is cost-effective, biocompatible, and readily available nanomaterial. Halloysite nanotubes do not clump together, which makes it ideal for use in electronic fabrication and other high-tech ceramic-composite applications. The material has a lot of potential and use in numerous applications across various industries.
Global Halloysite Clay Market: Drivers & Restrains
Halloysite is extensively used as a suspension agent in glaze preparations due to its fine particle size. High purity and low iron and titania content makes halloysite clay an ideal material for exceptionally white and translucent ceramic ware. The material is also used for high-tech ceramic applications, although its usage in this application is currently limited which, is expected to grow in the near future.
Rise in demand for halloysite clay as a nanomaterial and its extensive usage to manufacture ceramic ware boost the halloysite clay market. This is prompting companies increase production of this material. Additionally, easy availability of raw materials is anticipated to boost demand for halloysite clay in the near future.
Technological advancements in the global halloysite clay market are increasing. Companies are constantly striving to develop new and better ways to manufacture of this material. Development of new manufacturing processes of halloysite clay and rise in applications are estimated to propel the market. However, volatility in prices of raw materials is projected to hamper the market.
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Global Halloysite Clay Market: Key Segments
Based on application, the halloysite clay market can be divided into nanomaterial, cosmetics, paints & coatings, electronics, and others. The nanomaterial segment dominates the market due to extensive use of halloysite clay as a nanomaterial in various industries in emerging economies such as India and China.
Global Halloysite Clay Market: Regional Outlook
In terms of geography, the halloysite clay market can be divided into North America, Latin America, Asia Pacific, Europe, and Middle East & Africa. North America is anticipated to constitute major share of the market during the forecast period. The halloysite clay market in Asia Pacific is estimated to expand at a significant pace due to rise in demand for halloysite clay in cosmetics. Middle East & Africa is likely to be an attractive region for the halloysite clay market during the forecast period due to increase in demand in nanomaterial in the region.
Global Halloysite Clay Market: Key Players
Prominent players operating in the global halloysite clay market include Living Nature, Reade International Corp., BASF SE, I-Minerals Inc., NaturalNano Corp, Applied Minerals Inc. and American Elements. These players engage into research and development, strategic alliances, and mergers & acquisitions in order to gain market share in the global halloysite clay market.