Global Expanded Clays Market: Volume to Reach 12M Tons and Value to Hit $11.6B by 2030 on Rising Demand

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The expanded clays market is set to experience a slight increase in performance, with a forecasted CAGR of +0.1% in volume and +2.3% in value from 2024 to 2030. This growth is attributed to the rising demand for expanded clays globally.

Market Forecast

Driven by rising demand for expanded clays worldwide, the market is expected to start an upward consumption trend over the next six years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +0.1% for the period from 2024 to 2030, which is projected to bring the market volume to 12M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.3% for the period from 2024 to 2030, which is projected to bring the market value to $11.6B (in nominal wholesale prices) by the end of 2030.

Consumption

World Consumption of Exfoliated Vermiculite, Expanded Clays And Foamed Slag

Global expanded clays consumption fell slightly to 12M tons in 2024, approximately equating the year before. Over the period under review, consumption showed a pronounced decline. The growth pace was the most rapid in 2020 when the consumption volume increased by 6.6%. Global consumption peaked at 17M tons in 2013; however, from 2014 to 2024, consumption failed to regain momentum.

The global expanded clays market revenue shrank to $10.1B in 2024, reducing by -5.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption recorded a noticeable reduction. Global consumption peaked at $13.6B in 2013; however, from 2014 to 2024, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (3.2M tons), the United States (1.8M tons) and India (1.2M tons), with a combined 52% share of global consumption. Russia, Indonesia, Portugal, Germany, Mexico, South Korea and Iran lagged somewhat behind, together comprising a further 20%.

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Portugal (with a CAGR of +6.0%), while consumption for the other global leaders experienced mixed trends in the consumption figures.

In value terms, the largest expanded clays markets worldwide were the United States ($2.7B), South Korea ($1.7B) and China ($1.4B), together accounting for 57% of the global market. India, Mexico, Germany, Russia, Indonesia, Portugal and Iran lagged somewhat behind, together comprising a further 18%.

Among the main consuming countries, Portugal, with a CAGR of +5.2%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2024, the highest levels of expanded clays per capita consumption was registered in Portugal (37 kg per person), followed by the United States (5.4 kg per person), South Korea (4.6 kg per person) and Germany (4.2 kg per person), while the world average per capita consumption of expanded clays was estimated at 1.5 kg per person.

From 2013 to 2024, the average annual rate of growth in terms of the expanded clays per capita consumption in Portugal totaled +6.3%. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: the United States (-5.8% per year) and South Korea (-0.7% per year).

Production

World Production of Exfoliated Vermiculite, Expanded Clays And Foamed Slag

In 2024, the amount of exfoliated vermiculite, expanded clays and foamed slag produced worldwide dropped to 12M tons, therefore, remained relatively stable against 2023. Overall, production saw a pronounced downturn. The growth pace was the most rapid in 2020 with an increase of 7% against the previous year. Global production peaked at 17M tons in 2013; however, from 2014 to 2024, production remained at a lower figure.

In value terms, expanded clays production shrank to $10.5B in 2024 estimated in export price. In general, production recorded a noticeable slump. The pace of growth appeared the most rapid in 2020 with an increase of 17%. Global production peaked at $13.6B in 2013; however, from 2014 to 2024, production remained at a lower figure.

Production By Country

The countries with the highest volumes of production in 2024 were China (3.2M tons), the United States (1.8M tons) and India (1.2M tons), with a combined 51% share of global production. Russia, Belgium, Portugal, Indonesia, Mexico, Germany and South Korea lagged somewhat behind, together accounting for a further 21%.

From 2013 to 2024, the most notable rate of growth in terms of production, amongst the key producing countries, was attained by Portugal (with a CAGR of +6.7%), while production for the other global leaders experienced mixed trends in the production figures.

Imports

World Imports of Exfoliated Vermiculite, Expanded Clays And Foamed Slag

In 2024, supplies from abroad of exfoliated vermiculite, expanded clays and foamed slag decreased by -17.6% to 587K tons, falling for the third consecutive year after six years of growth. Overall, imports recorded a relatively flat trend pattern. The growth pace was the most rapid in 2017 with an increase of 13% against the previous year. Global imports peaked at 939K tons in 2021; however, from 2022 to 2024, imports failed to regain momentum.

In value terms, expanded clays imports reduced to $407M in 2024. The total import value increased at an average annual rate of +2.2% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when imports increased by 18% against the previous year. Global imports peaked at $456M in 2022; however, from 2023 to 2024, imports remained at a lower figure.

Imports By Country

In 2024, the UK (73K tons) and Germany (71K tons) were the key importers of exfoliated vermiculite, expanded clays and foamed slagacross the globe, together creating 25% of total imports. It was distantly followed by Sweden (32K tons) and France (30K tons), together committing an 11% share of total imports. The United States (25K tons), Spain (25K tons), Canada (24K tons), Switzerland (20K tons), Norway (18K tons) and Portugal (18K tons) took a relatively small share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Sweden (with a CAGR of +8.6%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the largest expanded clays importing markets worldwide were the United States ($35M), Germany ($25M) and Canada ($24M), with a combined 21% share of global imports.

In terms of the main importing countries, the United States, with a CAGR of +7.3%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average expanded clays import price stood at $694 per ton in 2024, with an increase of 14% against the previous year. Over the period from 2013 to 2024, it increased at an average annual rate of +2.9%. The growth pace was the most rapid in 2022 an increase of 17% against the previous year. Over the period under review, average import prices hit record highs in 2024 and is expected to retain growth in years to come.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($1,432 per ton), while Sweden ($279 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Canada (+4.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Exfoliated Vermiculite, Expanded Clays And Foamed Slag

In 2024, shipments abroad of exfoliated vermiculite, expanded clays and foamed slag decreased by -10.7% to 986K tons, falling for the third year in a row after six years of growth. Over the period under review, total exports indicated notable growth from 2013 to 2024: its volume increased at an average annual rate of +3.8% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -16.4% against 2021 indices. The growth pace was the most rapid in 2021 when exports increased by 18%. As a result, the exports reached the peak of 1.2M tons. From 2022 to 2024, the growth of the global exports remained at a lower figure.

In value terms, expanded clays exports contracted to $418M in 2024. The total export value increased at an average annual rate of +1.6% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2021 when exports increased by 21% against the previous year. Over the period under review, the global exports reached the peak figure at $489M in 2022; however, from 2023 to 2024, the exports remained at a lower figure.

Exports By Country

Belgium represented the major exporting country with an export of around 420K tons, which reached 43% of total exports. It was distantly followed by Portugal (65K tons), Denmark (56K tons), Germany (48K tons) and China (47K tons), together constituting a 22% share of total exports. The Netherlands (44K tons), Estonia (42K tons), the United States (36K tons), the Czech Republic (26K tons) and Poland (23K tons) held a little share of total exports.

Exports from Belgium increased at an average annual rate of +12.5% from 2013 to 2024. At the same time, Estonia (+42.4%), Poland (+9.9%), the Netherlands (+8.3%), Portugal (+4.8%) and China (+2.4%) displayed positive paces of growth. Moreover, Estonia emerged as the fastest-growing exporter exported in the world, with a CAGR of +42.4% from 2013-2024. By contrast, the United States (-2.6%), the Czech Republic (-3.3%), Denmark (-4.1%) and Germany (-4.9%) illustrated a downward trend over the same period. While the share of Belgium (+25 p.p.), Estonia (+4.1 p.p.) and the Netherlands (+1.7 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of the Czech Republic (-3.1 p.p.), the United States (-3.7 p.p.), Germany (-7.9 p.p.) and Denmark (-8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest expanded clays supplying countries worldwide were the Netherlands ($73M), the United States ($57M) and Germany ($24M), with a combined 37% share of global exports. Belgium, China, the Czech Republic, Portugal, Denmark, Poland and Estonia lagged somewhat behind, together accounting for a further 19%.

Estonia, with a CAGR of +36.0%, saw the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2024, the average expanded clays export price amounted to $424 per ton, picking up by 3.4% against the previous year. Overall, the export price, however, showed a noticeable descent. The pace of growth was the most pronounced in 2022 when the average export price increased by 5.4%. The global export price peaked at $538 per ton in 2013; however, from 2014 to 2024, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($1,653 per ton), while Belgium ($44 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Denmark (+6.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform