Future Market Insights
Feldspar is the name given to a group of minerals distinguished by the presence of alumina and silica (SiO2) in their chemistry. This group includes aluminum silicates of soda, potassium, or lime. It is the single most abundant mineral group on Earth. Feldspar mineral account for an estimated 60% of exposed rocks, as well as soils, clays, and other unconsolidated sediments, and are principal components in rock classification. The minerals included in this group are the orthoclase, microcline and plagioclase Feldspars. Feldspar is also used as fillers in various industrial applications. A product such as paints, plastics and rubbers utilize feldspar as fillers and extenders. Feldspar helps product such as paints, plastics, etc. to achieve qualities such as high chemical inertness, high resistance to abrasion, excellent ability to disperse, table pH levels, high resistance to the frosting, wonderful refractive index, etc. Over the forecast period, it is anticipated that the market will exhibit a good CAGR.
Feldspar Market: Drivers and Restraints
The primary factor for the growth of feldspar is that it is used to make dinnerware, bathroom, and building tiles. In ceramics and glass production, feldspar is used for flux. Flux is a material which when added to other host material lowers the melting temperature. Products such as dinnerware, ceramics, bathroom and building tiles are in high demand across the globe. Various new projects are booming across the globe owing to new plans adopted to develop infrastructure and economic corridors. Such projects lead to high demand for various ancillary products, which are base out of feldspar. Feldspar is also used as an essential ingredient in different enamel compositions. It triggers to rule out the defects and bring beautiful neatness to the final product. It develops beautiful shine and neatness to ceramic tile glaze, electrical porcelain, enamel frits, sanitaryware, ceramic glazes and tableware, etc. such distinguishable property of feldspar makes it necessary raw material for the industries mentioned above. Growth and expansion of industries are on momentum across countries, with the rise in demand from the consumer for better and improved product. Such industries will seek feldspar for manufacturing of their products. Such factors will help in fueling the growth of feldspar market globally
The Recent ban on mining due to its negative impact on the environment, miner’s safety issues are few possible restraints for the growth of feldspar market.
Feldspar Market: Market Segmentation
Based on the end user industry, Feldspar market can be segmented into:
Global Feldspar Market: Regional Outlook
Based on the geographic regions, global Feldspar market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific, Japan, and the Middle East & Africa. Among the regions mentioned above, APEJ will dominate the Feldspar market over the forecast period. The countries such as China, India, and South Korea will be the key contributor to the growth of feldspar market. In recent few years, due to reason such as reform in economic policy and development plans APEJ region is witnessing high growth in construction, the establishment of new projects, which will trigger the growth of feldspar market. North America and Western Europe region will come next to APEJ on growth of feldspar market. Even though they are next to APEJ for feldspar market but these region are the first movers in introducing feldspar for various manufacturing. In Eastern Europe, the market of feldspar has also gathered momentum in recent years. MEA and Latin America market is largely dependent on imports of various products, but it is anticipated that over the forecast period Feldspar market will witness a period of growth.
Feldspar: Key Players
The major players identified in the global Feldspar derivatives market includes:
The report covers exhaustive analysis on:
Regional analysis for market includes: