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.
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 2020.
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.
Long-term Manufacturing Knowhow Helps in Gaining Competitive Edge in Global Market
It has been found that wollastonite helps to improve the mechanical properties of various plastic compounds. Hence, leading limestone company in Northern Europe Nordkalk is increasing its marketing capabilities for its W-Series products that are made from high-quality wollastonite powder that help to enhance the wear resistance of plastic compounds. High degree of whiteness and high pH value of wollastonite is highly preferred in ceramic and friction materials. Hence, manufacturers in the wollastonite powder market are increasing efforts to maintain a consistent quality in wollastonite products in order to gain global recognition in the market landscape.
Companies in the wollastonite powder market with a long-term manufacturing knowhow are at an advantage as compared to other market players. Manufacturers are exploring revenue opportunities in plastic components of car interiors, engine compartments, and electrical insulation plastics to broaden their revenue streams.
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Metallurgical and Friction Applications Fuel Demand for Wollastonite
Pure and unadulterated wollastonite powder is in high demand in India. Hence, Delhi-based manufacturer of wollastonite MCA International uses the best quality materials to produce calcium silicate powder used in the plastics and construction industries. Companies in the wollastonite powder market are increasing their focus in the production of plastics, owing to excellent electrical insulating properties of wollastonite. Improved dimensional stability and fire resistance can be achieved with wollastonite powder in plastic components.
Apart from paints and coatings, wollastonite is also used in metallurgical applications due to its low water solubility and low loss on ignition. Wollastonite is being extensively used to formulate steel casting and welding powders. On the other hand, wollastonite is being used as a reinforcing additive in many friction applications. Manufacturers are tapping opportunities to experiment with semi-metallic and non-asbestos formulations for drum linings and truck blocks.
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