The Global Market for Feldspar is Projected to Exceed 28 Million Metric Tons by 2024
Manifold Uses, Abundant
Availability & Multiple Properties Drive Growth in Demand for Feldspar,
According to a New Report by Global Industry Analysts,
Inc.
GIA launches comprehensive analysis of industry segments, trends,
growth drivers, market share, size and demand forecasts on the global Feldspar
market. The global market for Feldspar
is projected to exceed 28 million metric tons by 2024, driven
primarily by the essential requirement of feldspar in myriad end-use
applications, rising demand for glass and ceramic products, and abundant availability
of the mineral.
Feldspar represents a group of rock-forming
crystalline minerals consisting of aluminum silicates of potassium, sodium,
calcium or barium. Some types of feldspar also contain ammonia and strontium. The
mineral group, found in several colors including white, pink, tan, gray, blue,
flesh red and green, accounts for around 60% of the earth’s outer crust
promising abundant availability. Feldspar, generally associated with mica and quartz, may comprise garnet,
kaolin, spodumene (lithium aluminosilicate) or iron bearing minerals. As
feldspar alkane possesses higher amount of alkalis and minimum amount of iron,
it acts as a perfect raw material in glass making industry. The global market
for feldspar is largely driven by increasing demand from ceramic and glass
industries, followed by growing
usage in other industries such as paints and coatings as extenders and fillers,
as well as for welding rods. Common daily life uses of the mineral include
Adhesives; Enamels; Glazes; Plastics; Sanitaryware; Wall & Floor Tiles;
Container Glass; Flat Glass; Paint; Rubber, and Tableware, among others. In addition, feldspar
acts as a bonding agent in combination with magnesium oxide and magnesium
chloride besides other synthetic glue used in manufacturing wheels, discs,
abrasives and other shapes.
Healthy growth is projected for the market
in the coming years driven by rising demand for potash feldspar that acts as flux and contains alumina and is known for offering resistance
from thermal shock, bending and scratch impact during the glass making process.
As growth in construction, automotive and paints & coatings industries have
a direct impact on requirement for ceramics, glass and fillers used in these industries, demand for feldspar is
expected to witness considerable increase owing to the fact that majority of
the mineral finds use in production of these commodities. Myriad benefits of
feldspar that are driving its usage in fillers and extenders and providing
additional impetus to market demand include exceptional
physical properties such as good dispersibilty, chemical inertness and stable
pH, low free silica content and brightness of 89-95%. Other emerging
applications of feldspar that are benefiting market prospects for the mineral
include fiberglass,
which primarily finds use in thermal insulation, and solar glass used in the
production of solar cells.
As stated by the new market research report on Feldspar, Europe represents the largest market worldwide. Consumption of feldspar in the glass industry,
the largest end-use segment in Europe, is projected to grow the fastest in
spite of increased use of recycled glass ‘cullet’ in the manufacture of glass. Europe
is also the largest producer of feldspar with majority of mines located in
Poland, Slovakia, Germany, Ukraine, Turkey and Czech Republic. Additionally, Turkey and
Italy represents the two largest feldspar producing countries in the world. Asia-Pacific
is forecast to emerge as the fastest growing market with
a CAGR
of 7.3% over the analysis period.
Key players in the market include Eczacibasi Esan, El Waha Mining &
Fertilizers, Gimpex Ltd., Gottfried Feldspat GmbH, Imerys Minerals Ltd., I-Minerals
Inc., Incusa Industrias Del Cuarzo, S.A, Kaltun Madencilik A.Ş., LB MINERALS,
s.r.o., LKAB Minerals AB, Manek Minerals, Matel Hammadde Sanayi ve Ticaret A.Ş., Micronized Group, Minerali Industriali S.r.l., Pacer
Minerals, LLC, Quarzwerke GmbH, SCR-Sibelco N.V., Sibelco Nordic A/S, Covia
Holdings Corporation, and The Quartz Corporation, among others.
The research report titled “Feldspar: A Global
Strategic Business Report” announced by Global Industry Analysts Inc.,
provides a comprehensive review of global market trends, growth drivers, issues,
production, and reserves. The report provides market estimates and projections
for all major geographic markets including the United States, Japan, Europe
(France, Germany, Italy, Spain, Russia, Turkey, and Rest of Europe), China, Asia-Pacific
(India, and Rest of Asia-Pacific), and Rest of World. End-use segments analyzed
in the report include Glass, Ceramics, Fillers, and Others.
For enquiries e-mail us at rsd@strategyr.com or info411@strategyr.com.
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