Calcined Shale Market Growth & Trends
The global calcined shale market size is expected to reach USD 1.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 3.4% from 2022 to 2030. Rising investments in construction activities are expected to boost demand for Supplementary Cementitious Materials (SCM), used in concrete. This in turn, is anticipated to be one of the key drivers for the industry during the forecast period.
The demand from the construction industry is expected to increase the consumption of calcined shale over the forecast period. For instance, in the U.S., from 2022 onwards, infrastructure spending is expected to increase in the next five years, with the implementation of the Infrastructure Investment and Jobs Act. Similarly in Canada, low borrowing costs have helped improve housing demand in 2021. With the Canadian job market improving, the demand for new homes is anticipated to increase in line with the rising spending power.
Due to its low cost, and wide availability as compared to substitutes such as kaolin and bentonite, calcined shale can potentially be used as an emerging application in multiple industries. For instance, it is used in mining as an effective adsorbent in effluent treatment, and as an effective odor adsorbent in the oil and gas industry. It can also be used as a storage material for radioactive waste. Additionally, it can be used in the extraction of rare earth elements, a key ingredient for the production of permanent magnets that are used in electric vehicles.
Based on region, Asia Pacific held the largest revenue share of the global market in 2021. In the region, China held the highest revenue share in 2021. Construction activity is anticipated to be the driver for the product. In January 2022, the government of China announced plans to add 6.5 million units of government-subsidized homes across the country. The plan is expected to help 13 million people in need of low-cost affordable houses and is expected to be completed by 2025. Hence, the growing demand from various end-user industries such as cement and materials in construction is likely to propel the use of calcined shale during the forecast period.
Building and construction activity was adversely impacted due to the COVID-19 when many projects were stalled. The market is anticipated to be favorably impacted by the gradual recovery witnessed by the construction sector since 2021, especially in residential housing projects in Asia Pacific. For instance, the government of India, in the Budget 2021–22, allocated funds worth INR 13,750 crore (USD 1.89 billion) for affordable housing and the Smart Cities Mission. Similarly, in January 2022, Mitsubishi Estate started the construction of Japan’s tallest building, which is expected to include 50 luxury apartments. Its construction is expected to be completed by 2027. Such investments in construction activity across the world is anticipated to drive product consumption over the forecast period.
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Calcined Shale Market Report
Calcined Shale Market Report Highlights
- Based on end-use, the cement and material segment is anticipated to register a CAGR of 3.7%, in terms of revenue, from 2022 to 2030. Calcined shale is used as SCM and binders in concrete to be used in the building and construction industry
- Based on application, the SCM segment is anticipated to register the highest CAGR of 3.8% in terms of revenue during the forecast period. Calcined shale enhances the durability of concrete in aggressive environments and is available at a lower cost compared to substitutes such as meta-kaolin
- Based on region,Asia Pacific is expected to register the highest CAGR of 4.2%, in terms of revenue, over the forecast period. Increasing investment in building and construction activity is expected to propel growth in the region
- The competitive environment is likely to remain dynamic with anticipated entry of new vendors in the market. The existing vendors are likely to continue their investment in R&D to formulate better product range
