The global feldspar market size is projected to surpass USD 2.40 billion by 2027, according to a new report by Vision Research Reports.
The global feldspar market size was valued at USD 1.67 billion in 2019 and is expected to grow at a CAGR of 5% from 2020 to 2027.
Rising demand for the product as a filler in the manufacturing of ceramics products is positively influencing the industry growth. Feldspar is an aluminosilicate mineral that is widely found across the earth’s crust and primarily comprises calcium, sodium, and potassium. The product is mined in bulk volumes across countries, such as Turkey, Italy, India, China, Thailand, Brazil, and the U.S. The global feldspar production was evaluated around 25.6 million tons in 2018 as per the data published by the United States Geological Survey (USGS) in 2019.
The presence of distinctive chemical groups within the product makes it ideal in the manufacturing of glass and ceramic products. The glassmaking is projected to remain the key end-use segment for the product. The presence of alumina assists in providing superior chemical resistivity makes it ideal in glassmaking. The growth in the production of glass has a direct relation in positively influencing the dynamics of feldspar. The global market space of feldspar observed stable growth from 2016 to 2019. However, with the emergence of global pandemic and lockdown on industrial activities, the product demand in FY 2020 is likely to observe stagnant growth.
The demand for the product has faced heavy brunt in the first quarter of FY 2020 as the key end-use sectors, such as the glass and ceramics industry, observed disruption in their operational activities. The trend is projected to continue over the short term period as the world normalizes itself into this situation of panic and distress caused due to the coronavirus. Vendors of the industry are formulating strategies to implement smart automation techniques to enhance their efficiency and productivity.
The glassmaking segment led the market and accounted for more than 71.5% share of the global volume in 2019. The segment growth is largely influenced by the dynamics of the automotive, construction, and packaging industries. Glassmaking in the Asia Pacific region flourished owing to the steady demand from the aforementioned end-use sectors, especially in countries such as India and China.
Ceramics emerged as the second-largest end-use segment in 2019. The product is used in its ground form as filler in the manufacturing of ceramic products. The stable consumption of ceramic products has positively influenced the feldspar market growth. However, the emergence of global pandemic and lockdown imposed on construction sites is anticipated to restrain the growth of the ceramics segment over the short term period.
Increasing demand for ceramic tiles, particularly in residential and commercial construction, around the globe is projected to boost the growth of the ceramics industry over the forecast period.
Asia Pacific dominated the market and accounted for over 48.0% share of global revenue in 2019. The presence of strong glassmaking and ceramics sector in the region is likely to sway 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 maturing 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. Italy and Turkey are among the largest producers of mined products in the European region. In terms of consumption, both countries possess strong glassmaking and ceramics sector. As per the stats released by the United States Geological Survey (USGS), in 2019, the total production of mineral by Turkey has evaluated around 7,500 kilotons as of 2018.
North America region is projected to register the second-highest CAGR of 3.9% in terms of volume from 2020 to 2027. The U.S. is expected to emerge as the key regional market as the country accounted for 67.9% share of the total volume. The U.S. production of feldspar increased from 470 kilotons in 2016 to 550 kilotons in 2018 as per the stats published by the USGS in 2019. The key feldspar producing states in the U.S. were North Carolina, Oklahoma, California, Virginia, and Idaho.
Central & South America is projected to observe the slowest growth over the forecast period. Due to the emergence of the pandemic and an increasing number of infected victims in Brazil, the region is undergoing tremendous economic turmoil. In addition, the region is afflicted by geopolitical stress in key countries, such as Columbia and Venezuela, thereby hampering industrial activities in the region.
Middle East and Africa accounted for a small revenue share in 2019. The region is anticipated to observe steady growth over the forecast period, primarily driven by the gulf countries. The economic development, coupled with strong construction activities in the Gulf States, such as Saudi Arabia, UAE, and Oman, positively influenced the consumption trends of feldspar in the region.
Some of the prominent players in the feldspar market include:
Micronized South Africa Limited
Eczacıbaşı Holding A.Ş.
Adolf Gottfried Tonwerke GmbH
LB MINERALS, Ltd.
Central & South America
Middle East & Africa
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