Halloysite (Al2Si2O5(OH)4) is an aluminosilicate clay mineral composed of aluminum, silicon, oxygen, and hydrogen. It occurs as nano-tubes and is formed due to hydrothermal alteration of alumino-silicate minerals. Halloysite is widely used in the fabrication of electronic devices and other high-tech ceramic composite applications. It is easily available, cost-effective and bio-compatible as compared to carbon nano-tubes.
Increasing adoption of halloysite in various applications such as cosmetic, medical, polymer, and ceramic industries, is a major factor expected to drive growth of the halloysite market over the forecast period. In addition, easy availability of raw material is also anticipated to fuel growth of the target market. However, fluctuating cost of raw materials may hamper demand and restrain growth of the target market.
The global halloysite market has been segmented on the basis of application, and region. On the basis of application, the target market is segmented into cosmetics, ceramics, polymers, cement, and others. The other segment is further bifurcated into medical, paints and coatings, and electronics. The cosmetic segment is anticipated to register a major revenue share in the target market during the forecast period.
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On the basis of region, the global halloysite market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific market accounted for a major share in terms of revenue to the global halloysite market and is expected to dominate over the forecast period, due to increasing adoption of halloysite in cosmetics applications in the region. The halloysite market in North America is anticipated to witness a significant growth in terms of revenue over the forecast period, followed by Europe. Latin America market is projected to register a moderate share in terms of revenue in coming years.
Key players operating in the global halloysite market include BASF SE, Imerys group, I-Minerals Inc., Northstar Mines LLC, NaturalNano Corp, American Elements, Reade International Corp., Merck KGaA, and Nanoshel LLC.