Feldspar Market projecting a CAGR of 5.92% during the forecast period, 2020-2026
Published | March 2020
According to BlueWeave Consulting, the global Feldspar market has reached 569.23 Million in 2019 and estimated to reach USD 845.3 Million in 2026 and anticipated to grow by CAGR of 5.92% during the forecast period 2020-2026. Increasing the use of Feldspar in glass and ceramics manufacturing around the globe is a key factor driving development on the global feldspar market.
Additionally, high investment in residential and commercial infrastructure, increased demand for Feldspar in automotive glass, and increased use of Feldspar as fillers in applications such as paints, plastics, and rubber are other factors expected to drive growth over the forecast period on the global feldspar market. The use of Feldspar as a fluxing agent in the glass and ceramic industry is expected to drive the feldspar market during the forecast period. Feldspar is one of the most important materials used in the manufacture of various types of glass. Using Feldspar, which serves as a fluxing agent, lowers quartz melting temperature and helps regulate glass viscosity. The main factor for feldspar market growth is its use in making dinnerware, bathroom, and tiles. Feldspar is used for flux, as well in ceramics and glassmaking. Products such as dinnerware, ceramics, bathroom fabrics, and construction tiles are in high demand worldwide.
Strict environmental regulation on feldspar extraction, however, is a major restraining factor in the global feldspar market's growth. Furthermore, the use of the glass recycling process is expected to reduce the use of Feldspar. This is another factor expected to constrain global feldspar market growth over the forecast period.
The Glass segment holds the largest market share of Feldspar Industry during the forecast period
The glass segment is expected to dominate the feldspar market over the forecast horizon, as Feldspar is one of the most significant materials used in the manufacture of various glass types. The use of Feldspar, which serves as a fluxing agent, decreases the quartz's melting temperature and helps control glass's viscosity. However, due to the increased production of ceramic floor tiles due to the growing construction of several residential and commercial buildings, the ceramics segment is expected to see the highest growth rate during the projected period.
Increasing Demand for Ceramic Tiles is surging the Feldspar market
Ceramic tile is one of the primary materials used in the construction sector. Hence, globally, the growth of the ceramic tiles market is dependent on increasing construction expenditure. The construction sector is significantly growing, mainly in Asia Pacific countries, such as China, India, and Malaysia.
Increasing Feldspar usage in Glass industries is predicted to be the primary market-driven factor in the Feldspar industry
The use of Feldspar in the manufacturing of glasses serves as a fluxing agent, decreases the quartz's melting temperature, and helps control glass's viscosity. The alkali component in Feldspar acts as a fluxing agent that, in turn, lowers the glass's temperature, making it a great melting agent. Feldspar is used in a drinking glass, safety glass, fiberglass, floor tiles, shower basins, and tableware manufacturing.
Asia Pacific is expected to grow at a very high CAGR over the forecast period in the Global Feldspar Market
By geography, the global Feldspar market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Asia-Pacific is predicted to be the fastest-growing market for Feldspar during the forecast period due to rising demand for feldspars from the region's glass and ceramics industries. China is the largest and the fastest-growing feldspar market in this region. The other major feldspar markets in the Asia Pacific are India, Thailand, South Korea, and Malaysia. Growing population, growing urbanization, and rising investments in infrastructure projects are expected to drive overall industrial growth in the region, thereby increasing demand for feldspars.
Browse Detailed Table of Contents, “Feldspar Market Trend & Segmentation, By Type (Plagioclase Feldspar, and K-Feldspar), By End-Use (Glass, Ceramics, Fillers), and By Region (Europe, North America, South America, Asia-Pacific, and Middle East & Africa); Trend Analysis, Competitive Share & Forecast, 2016-26”
Feldspar Industry: Competitive Landscape
The major market players in the Feldspar Industry are focusing on explaining their portfolio of Service of Feldspar Industry are Eczacibasi Esan, Micronized Group, Imerys Minerals, Sibelco Nordic, The Quartz Corp., Asia Mineral Processing, El Waha Mining & Fertilizers, EP Minerals, Inc., Gimpex, I-Minerals, Mahavir Minerals, Minerali Industriali, Pacer Corporation, Sun Minerals, KMK Granit and Other Prominent Players.