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| Feldspar Market |
Feldspar is an important raw material used in the production of ceramics, glass, and fillers. It finds wide applications in the manufacturing of pottery, porcelain, sanitarywares, electrical goods, and tiles owing to its functional properties such as acid resistance and stability at high temperatures. The global ceramic industry has been witnessing robust growth over the past few years on account of rising construction activities and increasing consumption of ceramic products such as tiles and sanitarywares in residential and commercial buildings. This rising demand for ceramics has augmented the feldspar market.
The
Global Feldspar Market is estimated to be valued at US$ 728.73 Bn in 2024
and is expected to exhibit a CAGR of
8.6% over the forecast period 2024
to 2031.
Key Takeaways
The Feldspar
Market Size of the construction and infrastructure industries worldwide
presents significant opportunities for market players. Asia Pacific is
witnessing rapid growth owing to robust construction activities in China and
India. Meanwhile, Europe and North America are mature markets and players are
focusing on expanding to emerging economies.
Key
players operating in the feldspar market are Siemens, General Electric, ABB,
Johnson Controls, Schneider Electric, Honeywell, Eaton Corporation, Rockwell
Automation, Emerson Electric, Mitsubishi Electric, Yokogawa Electric, Veolia
Environnement, SGS, Enel X, Wärtsilä, Danfoss, Hitachi, Legrand, Ingersoll
Rand, Schneider Electric. These players are focusing on strengthening their
production capacities and geographical footprint to cater to the growing
demand.
Increasing investments towards infrastructural development projects such as smart
cities, metropolitan rails, and industrial parks across developing nations
provide ample opportunities for feldspar market players to expand globally. Key
players are investing in developing economies to tap the growth opportunities.
Market Drivers
- Growing construction industry worldwide - Rapid urbanization and increasing
investments in infrastructure development are driving the construction
industry. This in turn is augmenting the demand for ceramic products where
feldspar is a key raw material.
Market Restraints
- Stringent environmental regulations - Mining of feldspar deposits produces
dust particles posing health hazards. Strict norms regarding land usage and
mining activities could hamper market growth to an extent.
Segment Analysis
The feldspar market can be segmented into potassium feldspar and plagioclase
feldspar based on mineral type. Potassium feldspar dominates the market as it
is used in production of ceramics, glass, and abrasives. It is a major mineral
constituent of many igneous rocks and provides a feldspar-like structure to
components of these products.
The feldspar market can also be divided based on applications into glass,
ceramics, fillers, abrasives and others. The glass segment holds the largest
share due to extensive use of feldspar in manufacturing fiber glass, container
glass, and flat glass. It acts as a fluxing agent that helps to lower the
melting point of glass.
Global Analysis
Regionally, Asia Pacific dominates the global feldspar market and is expected
to maintain its leading position during the forecast period. This is attributed
to high availability of feldspar reserves and growing ceramics, glass, and
construction industries in countries such as India and China. China alone
accounts for more than 50% of global feldspar production.
Europe holds the second largest market share due to sizable glass and ceramic
sectors. North America is another major regional market driven by surging glass
and ceramic demand from construction industry. Both Europe and North America
are expected to showcase moderate growth over the next decade.
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