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The global kaolin market size was valued at USD 4.07 billion in 2021. The market is projected to grow from USD 4.27 billion in 2022 to USD 5.77 billion by 2029, exhibiting a CAGR of 4.5% during the forecast period.
This information is provided by Fortune Business Insights, in its report, titled, “Kaolin Market Size, Share & COVID-19 Impact Analysis, By Application (Paper, Ceramic & Sanitary Ware, Fiberglass, Paints & Coatings, Rubber, Plastics, and Others), and Regional Forecast, 2022-2029.”
Kaolin is popularly recognized as china clay, which is a kind of soft white clay utilized in producing porcelain, paper, rubber, and paints. The lack of alkalis and iron in china clay is a profiting factor for its huge usage in ceramic applications. Additionally, utilizing this material as a filler in rubber manufacturing enhances the mechanical sturdiness and abrasion resistance of rubber. The above-mentioned reasons together are fueling the demand for china clay in the market.
Commotions in Supply Chain during COVID-19 Outbreak to Influence Market
The pandemic was reported to chiefly impact various industries throughout the world, leading to a momentary termination of production and trade happenings. The pandemic further triggered a deterioration in the global economy owing to the falling demand and interrupted the supply chains. This augmented the cost of raw materials and finished goods. Nevertheless, the spread of the virus resulted in amplified packaged goods usage, thus surging the product demand.
KaMin Acquires BASF China Clay Minerals Business
KaMin LLC, which is a global performance minerals corporation that is possessed by IMin Partners, and BASF declared that they have engaged in a conclusive contract wherein KaMin is set to procure the BASF china clay business. Presently, the china clay business is a part of BASF's Performance Chemicals division. This purchase of BASF's china clay business is a transformative decision forward in KaMin's tactic. The amalgamation of these two complementary companies permits them to expand their company into growth-specific markets and amplify their complete production and technical competencies and this was stated by Michael W. Nelson, President and Chief Executive Officer of KaMin.
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Elevated Demand for China Clay from Numerous End-use Industries to Offer Growth Prospects
The rising demand for this material from numerous end-use industries, such as paper, paints & coatings, ceramics, and rubber, affirmatively impacts the market growth. This material is utilized in the paint & coatings industry as a crucial filler, where it offers scrub resistance, great opacity, pigment suspension, and sturdiness. Rising construction happenings across the world to satisfy the demands of the growing populace are resulting in elevated product demand. However, this material opts for ceramic and refractory applications owing to its beneficial characteristics such as fixed strength, color, brightness, and grit.
Acquisitions Initiated by Key Companies to Promote Market Growth
The leading players in the market constantly opt for efficient strategies to bolster their brand value as well as promote the global market growth. One such efficient strategy is acquiring competitive companies and further securing a profit for both the companies.
Notable Industry Developments:
List of Key Players Mentioned in the Report:
Further Report Findings
Based on application, the market is categorized into paper, ceramic & sanitary ware, fiberglass, paints & coatings, rubber, plastics, and others. The paper segment accounted for the dominant kaolin market share in 2021 due to high demand for paper from packaging and printing applications.
Asia Pacific to display kaolin market growth and was valued at USD 1.08 billion in 2021, which can be attributed to the increasing product consumption in ceramics, refractories, cement, and paper applications.
Table of Segmentation
Value (USD Billion) and Volume (Kiloton)
By Application and Geography