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Global Feldspar Market Is Set To Reach Value Around USD 836 Million By 2024

iCrowdNewswire   Oct 7, 20207:40 AM ET

Zion Market Research has published a new report titled “Feldspar Market by Type (Plagioclase Feldspar and K-Feldspar) and by End-Use (Glass, Ceramics, Fillers, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024”. According to the report, the global feldspar market was valued at approximately USD 543 million in 2017 and is expected to generate around USD 836 million by 2024, at a CAGR of around 6.36% between 2018 and 2024.

Feldspar is a group of rock minerals that constitute aluminum silicate as the main mineral. Other than aluminum silicate, the other constituents of feldspar include potassium, soda, or lime. Feldspars are crucial components for building stones. In fact, most products that we use in our daily lives are made of feldspar. The alumina and alkali content of feldspar makes it a useful element in various industrial processes. This aluminum content provides durability, hardness, and corrosion resistance to any finished product made from feldspar.

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Global Feldspar Market

The ongoing development and advancement in the construction industry, especially in residential and commercial sectors, is the key factor that is likely to drive the feldspar market in the upcoming years. In the construction industry, feldspar is mainly used for making building tiles, dinnerware, bathroom tiles, etc. The increasing product demand by glass and ceramic industries in the emerging nations is anticipated to boost the market in the upcoming years. In ceramic and glass production, feldspar is mainly used as a flux, to lower the melting temperature when added to ceramic or glass products. These factors are anticipated to drive the feldspar market over the forecast timeline. However, the volatile logistics and mining costs might hinder the feldspar market over the estimated time period.

By type, the feldspar market is segmented into plagioclase feldspar and K-feldspar. K-feldspar is likely to dominate the market over the forecast timeline, owing to its importance in the process of manufacturing glass. By end-use, the market is segmented into glass, ceramics, fillers, and others. The glass segment is expected to dominate the feldspar market in the upcoming years, due to the increasing demand for automotive glass, both flat and hollow.

North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the regional segment of the global feldspar market. North America is predicted to offer significant growth opportunities for the manufacturers operating in the feldspar market over the forecast timespan. This can be attributed to the increasing demand for potassium type feldspar in the automotive industry for manufacturing automotive glass. The region is an automotive manufacturing hub. The rising demand for automotive glass in vehicles is likely to positively impact the market in the next few years.

Some industry players operating in the feldspar market include I-Minerals Inc., Quarzwerke GmbH, Adolf Gottfried Tonwerke GmbH, EczacibasiEsan, LB Minerals, U.S. Silica Company, El Waha Mining & Fertilizers, SP Minerals, SCR-Sibelco NV, Granite Rock Company, Imerys S.A., and Feldspar Corp.

This report segments the global feldspar market into:

Global Feldspar Market: Type Analysis

Global Feldspar Market: End-Use Analysis

Global Feldspar Market: Regional Analysis

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Keywords:    Feldspar Market

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