Fiber-reinforced Concrete and Cement Boards Generate Revenue Opportunities for Manufacturers
Wollastonite is gaining increased applicability in ceramics, plastics, and rubber applications. Since wollastonite powder is an excellent lightweight reinforcing filler, it is being used in producing cement boards and fire-resistant insulating boards. The ever-increasing construction industry is generating incremental opportunities for companies in the wollastonite powder market, where the market is expected to advance at a CAGR of ~8% during the assessment period. On the other hand, manufacturers are focusing in fiber-reinforced concrete.
Wollastonite is acquiring popularity as a cost-efficient reinforcement material in ceramics and whitewares. Its advantageous attributes such as low loss ignition and low carbon dioxide (CO2) emissions are being highly preferred by ceramics manufacturers. Hence, companies in the wollastonite powder market are increasing their production capacities to meet end user demands. They are producing fiber-cement boards and structural clay bodies to broaden their revenue streams.
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Weather and Stain Resistance in Coatings Highly Preferred by Customers
A steady demand for paints and coating products has catalyzed the need for wollastonite powder. Hence, Imerys – a French multinational industrial minerals company is strengthening its distribution chains in countries of North America, South America, and Asia Pacific. It has been found that wollastonite helps to improve the cohesive strength of paints and coatings. This helps to enhance the corrosion and barrier properties of coatings. Prolonged in-can stability and improved thermal stability is highly preferred in paints and coatings.
Companies in the wollastonite powder market are increasing their R&D efforts to engineer the particle size, shape, and color of wollastonite to meet the exact quality and performance requirements of clients. As such, weather and stain resistance is becoming increasingly important in paints and coatings. Manufacturers in the wollastonite powder market are increasing the availability of minerals that can be easily incorporated into both waterborne and solvent-borne systems.
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Substitutes Such as Steel Fibers Pose Stiff Competition to Wollastonite Powder
The wollastonite powder market is currently valued at US$ 361 Mn and is expected to mature up to a revenue of ~US$ 821 Mn by the end of 2030. However, substitute materials such as steel fibers, ceramic fibers, and glass fibers are hampering market growth. Hence, wollastonite powder manufacturers are expanding their business in countries of Asia Pacific where there is a high demand for calcium silicate. They are increasing the production for adhesives and sealants, since wollastonite powder is a highly effective functional filler.
The demand for high temperature and pressure sensitive adhesives and sealants is surging in the market landscape. Hence, companies in the wollastonite powder market are broadening their product portfolio in UV curable adhesives and sealants to tap into value-grab opportunities. As such, low resin demand and chemical purity of wollastonite makes it ideal for thermosets and elastomers.
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COVID-19 Causes Major Interruptions in Business Activities for Wollastonite Powder Manufacturers
The coronavirus (COVID-19) outbreak has caused a slowdown in global economic activities. Countries such as India, China, and Japan were expected to witness exponential demand for wollastonite powder in the construction industry are now experiencing a slump in market growth, since construction sites had been temporarily shut down due to the pandemic. This has majorly hampered growth for the wollastonite powder market in the construction sector. However, analysts at the Transparency Market Research opine that construction activities will gain momentum by the end of 2024.
In order to abide by guidelines issued by the local and government authorities, construction workers are practicing social distancing norms and are adopting thermal scanning to contain the spread of coronavirus. Companies in the wollastonite powder market are also streamlining their production activities according to the demand raised by clients.
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