Performance Minerals Additives Market New Research Report Analysis, And Forecast

 

Europe Performance Minerals Additives Market Outlook 2031

• The Europe performance minerals additives market was valued over US$ 11.9 Bn in 2021
• It is estimated to grow at a CAGR of 5% from 2022 to 2031
• The Europe performance minerals additives market is expected to cross US$ 20.2 Bn by the end of 2031

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Analysts’ Viewpoint on Europe Performance Minerals Additives Market Scenario

The rise in usage of performance minerals additives in key application areas such as plastics, rubber and lubricants is driving the performance minerals additives market in Europe. Performance mineral additives are becoming more prominent in lubricant applications, owing to their properties such as maximizing fuel efficiency, power, acceleration, and minimizing emissions in automotive. Apart from the automotive industry, the market players should focus on lucrative avenues in the construction industry pertaining to the growing usage of performance minerals in the same. Additionally, the demand for performance mineral additives in healthcare products is also anticipated to create new opportunities in Europe. Startups as well as established companies of performance minerals additives are observed to be realizing the importance of investments in R&D activities in order to gain a competitive edge over other players. Manufacturers of performance minerals additives are also focusing on competitive pricing strategies in order to generate more business volume.

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Overview of Europe Performance Minerals Additives Market

Performance minerals additives are widely used in plastics, and the trend is expected to continue due to the growing use of mineral additives. Performance minerals additives allow for the manufacture of plastic materials with a much wider range of properties, including properties not normally associated with plastics, such as high electrical conductivity or thermal conductivity.

Performance minerals additives can be utilized to reinforce plastics; for instance, performance minerals additives, such as talc and glass fiber, have enabled polypropylene to compete successfully in the engineering polymers market. Almost all plastics are made from petroleum feedstock, and the price of plastics inexorably increases as the abundance of oil & gas declines.

The most popular performance minerals additives are calcium carbonate, talc, kaolin, mica, and glass. Several types of specialty additives are available; however, these common types are a good starting point for understanding structure-property relationships. They are cost-effective and hence, are widely utilized in numerous industries, including automotive, packaging, agriculture, and pharmaceutical.

Growth of Packaging, Automotive & Construction Industries to Drive Europe Performance Minerals Additives Market

The construction industry plays a major role in the economic growth of Europe. The construction industry in Europe has been growing significantly for the last decade. Rise in demand for smart infrastructure and increase in infrastructure expenditure in developed countries, such as Germany and the U.K., are key factors driving the construction industry in Europe. Thus, increase in expenditure to improve residential, commercial, and industrial infrastructure, and energy conservation initiatives are expected to fuel the civil engineering industry during the forecast period.

Bentonite, perlite, feldspar, calcium carbonate, and kaolin are key raw materials utilized in construction. These have the ability to provide strength and resistance, primarily in excavation and foundation works. Performance minerals additives are utilized in architectural paints and coatings. Performance minerals additives provide an excellent durable coating that can resist UV rays from the sun and maintain a newly painted look for a significant time. These additives are used in paints and coatings meant for exterior surfaces for better color fading, chalking, and cracking resistance.

Performance minerals additives are also employed as an aggregate, concrete, plaster, chimney fills, fireproofing sprays, acoustical sprays, and interstitial floors. The booming construction industry, including both residential and non-residential infrastructure, across Europe is one of the major factors boosting the demand for performance minerals additives.

In terms of end-use, the automotive end-use segment is estimated to dominate the performance minerals additives market in Europe during the forecast period.

Increase in Use of Titanium Dioxide in Various Technological Products

Based on type, the titanium dioxide type segment dominated the performance minerals additives market in Europe in 2021. This can be primarily ascribed to the increase in demand for titanium dioxide in paints, adhesives, papers, and cosmetics & various other applications. Titanium dioxide (TiO2) is a chemically inert and low-risk substance that is utilized for various purposes. Titanium dioxide powder is extensively utilized in diverse products including paints, adhesives, papers, and cosmetics, due to their ability to impart whiteness and opacity.

Titanium dioxide has good light scattering qualities and a high refractive index, implying that just a small amount of the pigment is needed for an opaque or white coating. This is boosting its usage in a wide range of technological products.

The Feldspar mineral segment is estimated to grow at a steady pace during the forecast period. The segment is likely to grow due to its use in the glass industry and to some extent, as a filler and extender in paint, plastics, and rubber.

The quartz type segment is anticipated to grow significantly during the forecast period, as quartz is widely used in the field of ceramics and in the manufacture of glass. The demand for pottery is considerably high in developing nations, owing to the growing population coupled with higher spending limit.

Rise in Application of Performance Minerals Additives in Plastics

In terms of value, the plastic application segment is estimated to dominate the performance minerals additives market in Europe during the forecast period. The segment is projected to maintain its dominance during the forecast period. Use of performance mineral additives in the plastic materials production enables incorporation of various properties such as thermal conductivity or high electrical conductivity in them. Thus, performance mineral additives help strengthen the functional quality of plastics.

Plastic is likely to be a highly attractive application segment of the performance minerals additives market during the forecast period. Increase in demand for plastic and its products is anticipated to drive the segment in the near future.

Moreover, the rubber segment offers significant opportunities for the performance minerals additives market.

Ceramics application of performance minerals additives is employed in limited uses. Therefore, the ceramics application segment is likely to grow at a steady pace during the forecast period.

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Demand for Additives to Rise in Cosmetics & Personal Care Industry

Bentonite, kaolin, feldspar, talc, calcium carbonate, perlite, etc., are used in cosmetics and personal care products such as face packs, scrubs, and soaps. Minerals in these products act as rheology modifiers, suspending agents, emulsion stabilizers, and absorbents. These minerals are usually employed as absorbent powders in cosmetics, owing to their ability to absorb moisture and sweat. Furthermore, they improve viscosity and are largely utilized in cosmetic products such as masks, sunscreen lotions, foundations, bar soaps, and lotions.

The usage of minerals in the cosmetics & personal care industry has been rising. Consequently, demand for additives required to enhance the performance of these minerals is also increasing. This is boosting the performance additives market. Rise in demand for natural healthcare products and an increase in awareness about the absorptive properties of performance minerals additives is projected to increase the demand for personal care & health products.

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