Performance Minerals Additives Market: Introduction
Transparency Market Research delivers key insights on the global performance minerals additives market. In terms of revenue, the global performance minerals additives market is estimated to expand at a CAGR of 5.3% during the forecast period, owing to numerous factors regarding which TMR offers thorough insights and forecasts in its report on the global performance minerals additives market.
Performance minerals additives are particles added to resin or binders (plastics, composites, concrete) that can improve specific properties, make the product cheaper, or a mixture of both. The global performance minerals additives market is broadly affected by several factors, including usage of performance minerals additives in various applications such as plastic, rubber, lubricants, and paints & coatings. The rise in the global demand for construction has led to a significant increase in the usage of performance minerals additives.
Performance Minerals Additives: Market Dynamics
Bentonite, kaolin, feldspar, talc, calcium carbonate, perlite, etc., are used in cosmetics and personal care products such as face packs, scrubs, and soaps.
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Minerals in these products act as rheology modifiers, suspending agents, emulsion stabilizers, and absorbents. These minerals are usually employed as absorbent powders in cosmetics, owing to their ability to absorb moisture and sweat. Furthermore, they improve viscosity and largely utilized in cosmetic products such as masks, sunscreen lotions, foundations, bar soaps, and lotions.
The usage of minerals in the cosmetics & personal care industry has been rising. Consequently, the demand for additives required to enhance the performance of these minerals is also increasing. This is boosting the performance minerals additives market.
The global cosmetics & personal care products industry is expanding at a CAGR of ~5%, owing to changing lifestyle, increasing disposable income of consumers, and rising awareness about skin care products. Thus, the expansion of the cosmetics & personal care industry is anticipated to augment the performance minerals additives market during the forecast period.
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The modern foundry technology is focused on the production of high-quality castings. High-quality molding sands can offer a requisite solution for mold stability and flexibility for the production of castings that comply with stringent government regulations. Additives are required to enhance the performance of this sand.
Performance Minerals Additives Market: Prominent Regions
Asia Pacific dominates the global performance minerals additives market. The market in the region is anticipated to expand at a CAGR of more than 6.5% during the forecast period. The increase in the demand for plastics and rubber in the region is driving the performance minerals additives market in Asia Pacific. China is a key country of the performance minerals additives market in Asia Pacific. China held a major share of the performance minerals additives market in Asia Pacific in 2020. The country is estimated to maintain its dominant position during the forecast period.
Europe is also a key region of the global performance minerals additives market. The Rest of Europe led the performance minerals additives market in Europe in 2020, owing to an increase in the adoption of performance minerals additives products in automotive in Germany, Italy, and Russia & CIS.
Performance Minerals Additives Market: Key Players
The global performance minerals additives market was consolidated with the presence of key players. Prominent players operating in the global performance minerals additives market include Minerals Technologies Inc., LKAB Minerals, GLC Minerals, LLC, Dicalite Management Group, Inc., EP Minerals, Imerys, ORGANIC INDUSTRIES PVT LTD., Kutch Minerals, Bharat Mines and Minerals, and Upreti Talc Pvt. Ltd.
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