Major companies in the vermiculite market include Palabora Mining Company; Samrec Vermiculite; Virginia Vermiculite Llc; UBM União Brasileira de Mineração S. A. and JSC Kovdorsluda. The global vermiculite market is expected to grow from $0.
New York, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Vermiculite Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018812/?utm_source=GNW
24 billion in 2020 to $0.26 billion in 2021 at a compound annual growth rate (CAGR) of 8.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $0.31 billion in 2025 at a CAGR of 4%.
The vermiculite market consists of sales of vermiculite by entities (organizations, sole traders and partnerships) that mine vermiculite, which is used in agriculture, automotive, chemical packaging, construction, fire protection, and other applications. The vermiculite market is segmented into large grade vermiculite; fine and finer grade vermiculite and medium grade vermiculite.
Asia Pacific was the largest region in the global vermiculite market, accounting for 27% of the market in 2020. Western Europe was the second largest region accounting for 20% of the global vermiculite market. Middle East was the smallest region in the global vermiculite market.
Modular components design with 3D printing is being widely used in the mining industry. 3D printing technology enables companies in remote locations to manufacture critical parts onsite as per the requirement, thereby reducing delays due to unplanned maintenance and also eliminates the need for holding inventories. Miners are relying on advanced heavy lift transport to move modular equipment to remote sites. This technology enables miners to construct processing units in low cost factories elsewhere, thus avoiding expensive onsite construction of modular equipment.
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