Potassium Feldspar Market is forecast to reach $1054.24 million by 2025, after growing at a CAGR of 3.70% during 2020-2025. Potassium feldspars are aluminum silicates that contain potassium minerals. Feldspars are divided into two main groups which are potassium feldspar and plagioclase feldspars. Potash Feldspar mineral assists the enamel composition, assuring the absence of defects and the neatness of the end product like enamel frits. Due to several industrial applications of feldspar like its usage as a raw material in the glass and ceramics industry, coating for welding rods and as extenders and fillers in the paint industry, the market for potassium feldspar is expected to grow during the forecast period.
By Product Type – Segment Analysis
Clay segment held a significant share in the potassium feldspar market in 2019. In the ceramics industry, feldspar and clay are the most widely used raw materials. Feldspars weather to clays that are used to make ceramics.
Since feldspar melts gradually over a range of temperatures, it does not have a strict melting point. This greatly facilitates the melting of quartz and clays and, through appropriate mixing, allows modulations in process of ceramic making. Ground-up feldspar is mixed with clay and quartz and then fired to form a wide range of ceramic and porcelain products, from fine dinnerware and pottery to bathtubs, sinks, floor tiles, and electrical insulators.
By Application – Segment Analysis
Glass segment held a significant share in the potassium feldspar market in 2019. Potassium feldspar is an important ingredient in the manufacture of glass. It is also an important raw material, as it acts as a fluxing agent, reducing the melting temperature of quartz and helping to control the viscosity of glass. Fluxes reduce the melting temperature, so that less energy is used, and the amount of soda needed is reduced. This greatly reduces the overall production costs in glass manufacture.
However, feldspars are primarily added to glass batches for their alumina content, which improves its durability, toughness and provides greater chemical resistance. The raw material for glass consists of silica sand, limestone, and soda ash. Potassium feldspar acts as an additive to impart superior qualities to the process.
Geography – Segment Analysis
Asia-Pacific is projected to remain a dominant region with a share of 39% of the market during the forecast period, followed by Europe and North America that held a key share of the potassium feldspar market. It is the fastest-growing market for potassium feldspar due to increasing demand from emerging economies such as China and Japan. Increasing ceramics demand and the booming construction industry in the region is expected to drive the Asia Pacific market over the forecast period.
Europe is expected to register significant growth rates on account of increasing demand for ceramics and glasses in construction, electronic sensors, automotive and medical devices. A large amount of potassium feldspar reserves in Turkey, Poland and Germany are expected to benefit market participants in the region in terms of raw material procurement.
Turkey has nearly 60 different mining and metals, as well as 4,500 mineral deposits. The country is one of the leading producers and exporters of feldspar in the global market. It has large feldspar reserve, accounting for nearly 10% of the total global reserve. According to United States Geological Survey (USGS), Turkey is one of the leading producers and exporters of feldspar in the global market with nearly 60 different mining and metals, as well as 4,500 mineral deposits. It has large feldspar reserve, accounting for nearly 10% of the total global reserve due to which the potassium feldspar market is expected to have major growth in Europe during the forecast period.
Drivers – Potassium Feldspar Market
Increasing ceramics demand across major end-use industries such as electrical & electronics, construction, and medical devices is expected to be the key factor driving the global potassium feldspar market over the forecast period. The global potassium feldspar market is driven by its wide usage in the glass industry to manufacture glass, fiberglass, and specialty glass (used in the manufacture of dinnerware) and increased demand as a major raw material in the manufacture of ceramics used in bathroom fixtures, kitchen fixtures, and floor tiles.
Challenges – Potassium Feldspar Market
The presence of a major substitute the material of potassium feldspars such as nepheline syenite hampers the market growth. The global demand for nepheline syenite is rising due to the rise in the adoption of nepheline in glass products due to its increased resistance to breaking and scratching. Nepheline syenite possesses low iron content which aids in the necessary whiteness of the powdered material utilized for glass and as extender pigments, fillers, and fiberglass due to which it is used as a substitute product for potassium feldspar.
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the potassium feldspar market. In 2019, the market of potassium feldspar has been consolidated by the top five players accounting for xx% of the potassium feldspar market share. Major top 10 companies of potassium feldspar market are United Mining Investments Co, The QUARTZ Corp, iecam Group, Kaolin Industrial Minerals San. And Tic. Inc., Polat Maden Sanayi Ve Ticaret A.S., Imerys Seramik Hammaddeleri San.Ve Tic.A.,Kalemaden Endustriyel Hammaddeler San.Ve Tic.A.S., Gensa Kimya Sanayi Ve Ticaret A.S., Adinath Industries and CVC Mining Company among others.
Ø In October 2019, The QUARTZ Corp announced they will be raising feldspar prices an average of 5% to 10% effective January 1st, 2020. The increases will be implemented through changes in packaging and product prices, and are necessary to offset rising costs in labor, materials and regulatory compliance.
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to email@example.com to discuss more about our consulting services.