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Potassium Feldspar Market size is forecast to reach US$1,098.2 million by 2026, after growing at a CAGR of 4.3% during 2021-2026

HYDERABAD, TELANGANA, INDIA, November 15, 2022 /EINPresswire.com/ -- Potassium Feldspar Market size is forecast to reach US$1,098.2 million by 2026, after growing at a CAGR of 4.3% during 2021-2026, owing to increasing demand for potassium feldspar as a major raw material in the manufacture of ceramics used in bathroom fixtures, kitchen fixtures, floor tiles and so on. The demand for potassium feldspar is expected to rise during the forecast period due to several industrial applications of potassium feldspar, such as its use as a raw material in the glass industry, as extenders and fillers in the paint industry, and as a coating for welding rods. The upsurge in the need for glasses in the automotive manufacturing sector is another prime factor driving the potassium feldspars market growth. Furthermore, growth opportunities exist for the Potassium Feldspar market as there has been a growing initiative such as investments in the field of potassium feldspar to incorporate in the manufacturing sector.

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Key takeaways:

This IndustryARC report on the Potassium Feldspar market highlights the following areas -

1. Asia-Pacific dominates the Potassium Feldspar market owing to the growth in construction projects in countries such as India, China, Malaysia, and others. For instance, in 2019, China invested US$142 billion in 26 infrastructure projects.

2. Potassium feldspar minerals are used for automotive glass manufacturing as it reduces the overall cost of production. According to the Automotive Marketing Information Council (AMIC), passenger car sales increased by 24% to 17,051 units in September 2020 as compared to 13,734 units in September 2019 in Egypt. This increase in automobile production will aid in potassium feldspar market growth.

3. Furthermore, the construction sector is flourishing globally. For instance, according to the federal statistical office, the annual turnover in building completion work in 2020 was 6.2 % more than the previous year completion works in Russia, which in turn is contributing to the demand of potassium feldspar market in the region.

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Segmental Analysis:

1. Potassium Feldspar Market Segment Analysis – By Type : The orthoclase segment held the largest share of 36.7% by revenue in the potassium feldspar market in 2020 and is forecasted to grow at a CAGR of 5.2% during 2021-2026. Glass and ceramics are made from orthoclase, and translucent crystals are occasionally carved into diamonds. The Indian ceramic sector, which is currently the world's third-largest producer, is expected to treble its revenue by 2021. As the country prepares for new development projects, the rising demand for faucets and tiles has resulted in a 7 percent to 8% increase in the construction sector. The ceramics sector will be fueled by rising domestic demand and exports.

2. Potassium Feldspar Market Segment Analysis – By Application : The glass segment held the largest share in the potassium feldspar market in 2020 and is expected to grow at a CAGR of 4.2% during 2021-2026. Potassium feldspar is used as a raw material in the manufacturing of glass. It is a fluxing agent which helps to reduce the viscosity of glass. Glass is widely used in buildings and vehicles window thus, increasing glass production and developments in the glass industry is estimated to grow the consumption of potassium feldspar.

3. Potassium Feldspar Market Segment Analysis – By End-Use Industry : The building and construction segment held the largest share in the potassium feldspar market in 2020 and estimated to grow at a CAGR of 4.4% during 2021-2026. Potassium feldspar is used in the production of concrete, aggregates, glass, and ceramic, which are a few of the important materials used in the building and construction industry. This increases the demand for potassium feldspar in the building and construction industry.

Competitive landscape:

The top 5 players in the Potassium Feldspar industry are:

1. Pacer Minerals LLC,
2. Quarzwerke Group,
3. Minerali Industriali S.r.l,
4. Mudgee Dolomite & Lime Pty Ltd,
5. The Quartz Corporation.

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