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Press Release: Feldspar Market to Surpass 39,771.2 Kilotons by 2028
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Feldspars are a group of rock-forming aluminium tectosilicate minerals, containing sodium, calcium, potassium or barium. The most common members of the feldspar group are the plagioclase (sodium-calcium) feldspars and the alkali (potassium-sodium) feldspars. Feldspars make up about 60% of the Earth's crust, and 41% of the Earth's continental crust by weight. Feldspars crystallize from magma as both intrusive and extrusive igneous rocks and are also present in many types of metamorphic rock. Rock formed almost entirely of calcic plagioclase feldspar is known as anorthosite. Feldspars are also found in many types of sedimentary rocks.
The Global Feldspar Market is estimated to surpass 39,771.2 Kilotons by the end of 2028 in terms of revenue, exhibiting a CAGR of 3.8% during the forecast period (2021 to 2028).
Drivers
The dynamics of the glass and ceramics industries have a significant impact on market growth. The product's unique chemical ingredients, such as potassium oxide, sodium oxide, and alumina, play an important role in promoting its use in the glass and ceramics industries. The product is primarily utilized in glassmaking and ceramics filler applications in its ground form ranging from 20 mesh to 200 mesh. Over the last decade, China's demand for feldspar has increased significantly. The product's alumina component provides exceptional corrosion resistance, while alkalis provide heat resistance. The substance is widely utilized in glassmaking due to its great characteristics.
Among regions, Asia Pacific held dominant position in the global feldspar market in 2020, accounting for 44.5% market share in terms of volume, followed by Europe and North America. The presence of strong glassmaking and ceramics sector in the region is likely to influence the market growth of feldspar in the Asia Pacific region. The region has observed steady economic growth owing to the flourishing economies of China and India. Both countries are among the largest markets for the construction and automotive sectors. This will provide a stable platform for the development of the glassmaking industry, which, in turn, is likely to push the growth of feldspar market space in the Asia Pacific region. The European region is projected to emerge as the second-largest regional market for feldspar. The region is a key producer of the product and holds significant reserves of minerals across Italy and Turkey.
Figure 1. Global Feldspar Market Revenue Share (%), By Region, 2020
Market Restraints
Mining cost, recycling of glass and ceramics, and volatile logistics are some of the major restraints that are likely to hamper the growth of the market. Also, stringent environmental regulations on mining of feldspar are expected to hinder the growth of the feldspar market. Nevertheless, changes in logistics and mining expenses could hamper the feldspar industry throughout the estimated period.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2020 | Market Size in 2020: | 30,200.9 Kilotons |
| Historical Data for: | 2017, 2018 and 2019 | Forecast Period: | 2020 to 2028 |
| Forecast Period 2021 to 2028 CAGR: | 3.8% | 2028 Value Projection: | 39,771.2 Kilotons |
| Geographies covered: |
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| Segments covered: |
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| Companies covered: |
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 |
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Market Trends
Ceramic tiles are one of the most important materials consumed in the construction industry. Therefore, the expansion of the ceramic tile market depends on the increase in construction spending worldwide. The construction sector is experiencing significant expansion, mainly in APAC countries such as China, India, and Malaysia. China spent roughly US$ 1.9 trillion on construction (i.e. Buildings) in 2018. As a result, as the construction industry grows, so does the demand for ceramic tiles. Robust developments in the residential and commercial construction sectors will accelerate the sales of feldspar. In addition, feldspar’s use as a fluxing agent in manufacturing of glass products continues to bolster demand in the global market.
Figure 2. Global Feldspar Market Revenue Share (%), By End-use, 2020
On the basis of end-use, in 2020, the glass segment accounted for 56.4% of the revenue share in terms of volume. Glass industry segment revenue growth is primarily driven by major advancements in automotive, construction, and packaging industries. Increasing demand for ceramic tiles from the construction sector is a key factor boosting revenue growth of the ceramic industry segment in the global feldspar market, and the trend is expected to continue going ahead.
Global Feldspar Market - Impact of Coronavirus (Covid-19) Pandemic
The covid-19 pandemic has had a substantial impact on the feldspar market, however, with the emergence of coronavirus and rapidly rising cases in the country over the first quarter of 2020 halted the industrial operations across the country. Despite the emergence of the global pandemic, the industrial activities in the country resumed in the second quarter of 2020. The key end-use sectors of the glass industry including construction and automotive sectors have observed a downward trend. This has restrained the market growth of feldspar in the country over the short term period.
Competitive Section
Key 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.
Feldspar is an essential mineral in igneous, metamorphic, and sedimentary rocks. The classification of a number of rocks is based upon the presence of feldspar. Feldspar is one of the most abundant terrestrial rocks, which occurs in the form of crystals. Feldspar is a group of rock minerals that make up aluminium silicate as the main mineral. In addition to aluminium silicate, other components of feldspar include potassium, soda, or lime. These rocky minerals make up 40-42% of the weight of the Earth’s continental crust. Feldspars are primarily native rocks and magma. In some cases, feldspars are considered the main components of rock classification. Feldspar are essential components for the construction of stones. In fact, most of the products we use in our daily lives are made from feldspar. The classification of various rocks is based on the presence of feldspar. Feldspar is one of the most abundant rocks on earth, which occurs in the form of crystals. It is widely used in many everyday life products such as drinking glass, protection glass, fiberglass, floor tiles, shower, basins, and tableware.
Feldspar is also being used as fillers, mainly in the paint, plastic, and rubber applications. This is due to the properties such as good dispersibility, chemical inertness, stable pH, resistance to abrasion and frosting, and low viscosity. The feldspar used as fillers is fine-milled and processed. Plagioclase feldspar, mainly white feldspar is used as fillers. Fillers are used for glazing effect in paints, coatings, plastics, and other materials.
Players operating in the feldspar market are focused on increasing the mining of feldspars and their export to other countries where their demand in glass and ceramics manufacturing is high due to the rising construction activities. The companies also have existing supply contracts with glass and ceramics manufacturers in order to enhance the feldspar market. For instance, in December 2020, Pacific Empire Minerals Corp. announced signing of a definitive agreement to grant CAVU Mining Corp. an exclusive option to earn up to a 100% interest in the Company’s 3,070-hectare Kitimat Copper-Gold Project in British Columbia, Canada. The property is rich in various mineral resources such as gold, copper, feldspar, etc.
Key features of the study:
Detailed Segmentation:
“*” marked represents similar segmentation in other categories in the respective section.
* Browse 50 market data tables* and 40 figures* on “Feldspar Market” - Global forecast to 2028.
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