Pyrophyllite Market Trends

Growth Drivers

• Rapid Growth in Construction activities: The government has taken various initiatives worldwide to grow the infrastructure activities at a rapid pace. Growth in the construction sector is taking place due to the urbanization rate across different countries including Japan, India & Indonesia. This population growth has increased the need for construction and infrastructure development activities. Moreover, the requirement for pyrophyllite while establishing new buildings has led to the growth of the pyrophyllite market as it supports construction and development endeavors. The widespread increase in the construction sector for pyrophyllite minerals has led to growth in demand for underground mining. For instance, a report published in 2023, states that the economic value of the construction industry across the world was estimated at around USD 10 Trillion in 2022 when the gross output was measured. The construction industry shows 13% of the global gross domestic product which gives employment to around 7% of the global working-age population. 

• Huge Investments in Ceramic Industry: Ceramics is majorly used in construction and automotive industries due to its properties including toughness, hardness, electrical resistance, and chemically inert nature. According to a report published in 2022, the global market value of ceramics was estimated to be around USD 300 Billion. Due to rising demand, the import and export of the ceramics industry has progressively increased. Moreover, using pyrophyllite as a raw material in the ceramics industry has properties like controlling firing temperature, lowering thermal expansion, and improving thermal shock resistance. Additionally, the final derived product includes a high degree of vitrification and provides great resistance.

Challenges

• High-grade pyrophyllite is available in very low quantities which has resulted in finding different options to switch it. Additionally, low-grade pyrophyllite is available but due to the presence of several impurities in the composition, it acts as a limiting factor while use which can hinder the pyrophyllite market growth of pyrophyllite.
• Workers employed in mining pyrophyllite are facing several serious health issues.
• Mining pyrophyllite can harm the environment, lead to habitat destruction of animals, and can disturb the ecosystem. This results in ecological imbalances.