The global feldspar market is expected to reach USD 2.35 billion by 2027 at a CAGR of 4.9%, according to a new report by Grand View Research Inc. Growing demand for glass and ceramics is expected to have a significant effect in the near future. Therefore, the feldspar is widely used in the glassmaking industry since many decades.
Feldspar is an aluminosilicate mineral and is found in earth’s crust. It mainly comprises calcium, sodium, and potassium. It is mined in bulk volumes across Italy, India, China, Vietnam, Thailand, and Brazil. On a global scale, it held a market share of 25.6 millions tons in 2018 and continues to have a significant impact on the market growth in the years to come. The presence of alumina enables in a high resistivity that stands ideal in glassmaking. Hence, the growth in production of glass is in correlation with feldspar.
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.
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The key players are emphasizing on maximizing the production based on the resumption of operations and services post lockdown. In the wake of covid-19 and imposed lockdown across the globe, the industrial activities have come to a stagnancy. This would prevail until normalcy in the market gets restored as industries have invested heavily in the production sector.
Key Takeaways from the report:
- The production of glass is expected to have a significant effect on the market growth attributing to the growing popularity of glass
- Ceramics in the end-use segment is anticipated to have a significant share as compared to other segments
- Europe is the most projected market in terms of volume owing to the presence of glass industry and anticipated to pump regional growth for the predicted period
- Asia Pacific is expected to observe a high growth in terms of revenue and volume in the forecast period. Emerging markets in Asia Pacific is expected to propel market growth throughout the forecast period
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- Quarzwerke GmbH
- I-Minerals Inc
- Adolf Gottfired Tonwerke GmbH
- Quartz Corporation
- Micronized South Africa Limited
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Grand View Research has segmented the global feldspar market on the basis of end-use and region:
Feldspar End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
Feldspar Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 – 2027)
- North America
- The U.S.
- Asia Pacific
- Central & South America
- Middle East & Africa
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
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