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At a CAGR of 3.8%, Feldspar Market to Reach 39,771.2 Kilotons by 2028, Says Coherent Market Insights (CMI)

/EIN News/ -- SEATTLE, Oct. 13, 2021 (GLOBE NEWSWIRE) -- The global feldspar market was valued at 30,200.9 Kilotons in 2020 and is expected to exhibit a CAGR of 3.8% during the forecast period (2020-2028).

Key Trends and Analysis of the Global Feldspar Market:

The growth of the market is driven to a significant extent by rapidly rising demand for ceramic tiles in countries across the world, growing usage of feldspar in the glass industry, and increasing investments in construction activities and infrastructure projects by governments in developed and developing countries. In addition, rapid increase in investments for construction, improvement, and renovation of residential and commercial infrastructure and buildings are some other key factors fueling market growth. Presence of various distinctive chemical compunds and minerals in the feldspar such as sodium oxide, potassium oxide, and alumina play a major role in promoting its importance and application across glass and ceramics industries. Rising demand for glass and ceramic materials and coatings for welding rods as well as extenders and fillers in the paint industry are other key factors boosting growth of the feldspar market.

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Key Market Takeaways:

The global feldspar market is expected to exhibit a CAGR of 3.8% over the forecast period (2021-2028). The growing demand for ceramic tiles across the globe, rising usage of feldspar in automotive glass, growing construction industry in developing economies are some of the factors that will likely to enhance the growth of the feldspar market in the forecast period of 2021-2028. On the other hand, growing levels of investment for residential as well as commercial construction which will further boost various opportunities that will lead to the growth of the feldspar market in the above mentioned forecast period. Feldspar is majorly used as a fluxing agent during the manufacturing of glass and ceramics from quartz.

Among type, Plagioclase feldspar accounted for the majority of global revenue in 2020. The plagioclase feldspar segment is expected to dominate the feldspars market during the forecast period due to its abundant presence as well as low cost, which will help catalyze its demand from glass and ceramic manufacturers. In the ceramic industry, feldspar and clay are the most widely used raw materials. Feldspar tends to have varying melting points, and thus it melts at different temperature levels. This helps in modulations and modifications of ceramic products during the manufacturing of ceramic products such as tiles, sanitary ware, and tableware. Feldspar improves the physical appearance, strength, toughness, and durability of the ceramic product. This makes it one of the most widely used raw materials, especially in sanitary ware and tile making.

Competitive Landscape:

Major players operating in the global feldspar market include I-Minerals Inc., Quarzwerke GmbH, Eczacibasi Esan, Micronized Group, Imerys Minerals, Sibelco Nordic, The Quartz Corp., Adolf Gottfried Tonwerke GmbH, LB MINERALS, Ltd., and Sun Minerals.

Key players are widely focused on reducing production costs through the employment of smart automation techniques and adopting sustainable mining practices. The competition within the industry is projected to remain high with global vendors and regional vendors competing at various levels. Ascending demand for glass products in architecture, automotive, and solar applications is prompting the key players to expand their target markets and footprints in the Asia Pacific. Hence, investments in acquisitions and capacity expansions are the key strategies adopted by the market players. For instance, In December 2020, Power Metals corp. entered into an amending agreement with Exiro Minerals Corp. in order to acquire two mineral mining assets, which are Paterson Lake and Gullwing-Tot Lakes. These properties hold feldspar, lithium, and tantalum reserves.

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Market Segmentation:

  • Global Feldspar Market, By Type:
    • Plagioclase Feldspar
    • K-Feldspar
  • Global Feldspar, By End-Use:
    • Glass
    • Ceramics
    • Fillers
    • Others
  • Global Feldspar Market, By Region:
    • North America
      • By Country:
        • U.S
        • Canada
    • Europe
      • By Country:
        • Germany
        • U.K
        • France
        • Italy
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • By Country:
        • China
        • India
        • Japan
        • Australia
        • South Korea
        • ASEAN
        • Rest of Asia Pacific
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Middle East & Africa
      • By Sub-Region
        • Middle East
        • Africa

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