Global Feldspathic Minerals Market size is forecast to reach $3.29 billion by 2025, after growing at a CAGR of 1.80% during 2020-2025. Feldspar is the most abundant mineral found from the earth’s crust and forms about 60% of terrestrial rock. The two properties of feldspathic minerals such as the alkali and alumina content in glazes are promoting the market growth. With increasing use of flat glass for the manufacturing of automotive windshield, use of feldspars for assembling processor and circuit in electronics, and use of feldspars as fillers and extenders for paints, plastic, and rubber has escalated the demand for Global Feldspathic Minerals Market size during the forecast period.
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By Type- Segment Analysis
Feldspars segment is projected to witness a higher growth in the global feldspathic minerals market during the forecast period. This growth is attributed to the growing use of Feldspars in ceramics and glass industry. Besides, most of the products used in day-to-day life are made up of feldspars such as glass used for drinking, glass for protection, fiberglass for insulation, the floor tiles, and shower basins in bathrooms. Also, Potassium-argon dating and luminescence dating are used with feldspar. The growing developments in the residential and commercial sector across the emerging economies drives the growth of feldspars segment during the forecast period.
By Mineral Type – Segment Analysis
Among the mineral types, in 2019, the Alkali Feldspars group held the largest share in the global Feldspathic Minerals Market owing to the growing uses from residential and commercial buildings as decorative building stones because of its physical properties such as hardness and whitish line. Furthermore, the alkali feldspars occur widely in a variety of geological environment and are especially useful as petro logical markers due to their compositional and structural complexity. Orthoclase, Sanidine, Microcline, Anorthoclase are some of the alkali feldspars which contain potassium also known as K-feldspar. Whereas, the microcline is the most common potassium feldspar which tends to form at lower temperature.
By Application – Segment Analysis
Glass and glass product in the Global Feldspathic Minerals Market is projected to grow at a CAGR of 1.68% during forecast period 2020-2025, due to the growing use of feldspar as an important ingredient for glass manufacturing. The feldspar mineral has an excellent optical property that makes glass more resistant to chemicals. Whereas, to produce one ton of container glass, about 110 pounds of feldspar are used and to produce one ton of flat glass, around 100 pounds of feldspar is required. Furthermore, the growing uses of glass and glass products across various applications such as bottles and tableware and building windows drives the growth of global Feldspathic Minerals Market during the forecast period.
Geography- Segment Analysis
Europe held the largest share with 41.36% in the Global Feldspathic Minerals Market in 2019, due to the growth in the consumption of feldspars minerals in Italy, Spain, Turkey, Poland, and Russia. Feldspars produced in the EU accounts more than 70% in use of ceramic industry and rest in the glass production. Italy is one of the leading producer of feldspar minerals in the world due to the rising demand of ceramic and glass across the country. The production capacity of feldspar is expected to increase during the forecast period as the demand for feldspar mineral is growing across various end-use industries such as paints and enamel.
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Drivers –Global Feldspathic Minerals Market
Auto glass gives structural reinforcement to the car’s windshield, in contrast to provide protection against the outside. Production market for electric motor vehicle is high and demand for flat glass items such as windshields is also growing from automobile sector. Additionally, windshields are now growing in size to suit newer aerodynamic designs, thereby growing the feldspathic minerals. Furthermore, US legislation allows car windshields to be constructed of laminated glass. Laminated glass is made up of simply two sheets of glass which provides maximum strength and does not shatter during accidents. It is usually used in the front and rear windshield of the car.
Floor tiles and wall tiles are the key products of ceramic tiles. Whereas, ceramic tiles have a rough, solid surface which does not attract or retain dirt, dust, pollen or any other allergens. Additionally, Ceramic tile is easy to clean, easy to fit, easy to maintain and is affordable at reasonable price due to which it is widely used in residential buildings for flooring. Furthermore, the growing trend of interior wall decorative among the consumers drives demand for ceramic tiles as a substitute for paints and other products. Besides, the strong growth of construction industry in developing country like China and India and growing population are expected to fuel the growth of ceramic tiles market during the forecast period.
Challenges – Global Feldspathic Minerals Market
Feldspar is mined usually from large granite bodies due to which the atmosphere, surface water, and ground water often get polluted by the mining operations. Mining impacts fresh water by excessive use of water in the production of coal, and by water contamination from discharged mine effluent and flow from tailings and impoundments of waste rock.It is possible that the construction process would result in lots of mud, VOCs, and other adhesive chemicals that will endanger the health of living space. This adverse impact can be reduced by the use of low toxicity binders and other naturally occurring materials during deployment. Granite can be built using low-odor acetone and silicon-all considered environmentally friendly.
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the Global Feldspathic Minerals Market. In 2019, the market of Global Feldspathic Minerals Market Productshas been consolidated by the top five players accounting for xx% of the share. Major players are Asia Mineral Processing, Eczacibasi Holding A.S., El Waha, Imerys Ceramics, Global Investment Holdings,The Quartz Crop,Gottfried Feldspat, Kaltun Madencilik Sanayi ve Ticcaret, Sibelco, LB MINERALS, Minerali Industriali, andPaladino Mining amongothers.
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