New York, May 29, 2023 (GLOBE NEWSWIRE) -- According to Persistence Market Research, the global aluminosilicates market is anticipated to reach US$ 298.5 million by 2033, expanding at a CAGR of 3.7% from 2023 to 2033.
The global aluminosilicates market is driven by various factors, including increasing demand for construction materials, growth of the electronics industry, and rising environmental awareness. However, the market is also influenced by tariffs and government regulations.
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Tariffs imposed on raw materials or finished products can affect pricing and hinder market growth to some extent. Additionally, government regulations related to environmental standards, waste management, and emissions control impact the production and usage of aluminosilicates. Compliance with these regulations requires investments and resources.
Governments across the world are implementing regulations to promote sustainable practices and reduce environmental impact, shaping the market dynamics of the aluminosilicates industry. Manufacturers need to stay abreast of these regulations and adapt their strategies accordingly to remain competitive in the market.
Key Takeaways from Market Study
- The global aluminosilicates market is valued at US$ 206.7 million in 2023.
- Value of the Kyanite type is predicted to account for 38.4% share of the market by 2033.
- By product type, calcium aluminosilicate is anticipated to account for 44.3% market share.
- Overall absolute opportunity in this market is expected to reach US$ 91.8 million by 2033.
- North America and Latin America together account for more than 50% share of the global aluminosilicates market.
- South Asia & Pacific and East Asia have high growth opportunities as compared to other regional markets.
“Demand for aluminosilicates has been increasing from industries such as construction, electronics, and chemicals. Aluminosilicate materials, known for their excellent thermal stability and mechanical properties, find applications in ceramics, glass, catalysts, and more,” says a Persistence Market Research analyst.
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Market Players
The market for aluminosilicates features a competitive landscape with several key players operating in this space. Companies are relying on product innovation, strategic collaborations, and geographical expansion to gain a competitive edge. Some of the leading manufacturers of aluminosilicates are Corning Incorporated, Tosoh Corporation, W. R. Grace & Co., I-Minerals Inc., and SCR-Sibelco NV.
Recent News:
- Albemarle Corporation announced in 2022 that it would be expanding its production capacity for aluminosilicates by 20%. This expansion is expected to meet the growing demand for aluminosilicates in a variety of industries, including ceramics, glass, and refractories.
- BASF SE announced in 2022 that it would be investing €100 million in a new aluminosilicates production facility in China. This investment is expected to help BASF meet the growing demand for aluminosilicates in the Chinese market.
- Evonik Industries AG announced in 2022 that it would be expanding its production capacity for aluminosilicates by 15%. This expansion is expected to meet the growing demand for aluminosilicates in a variety of industries, including detergents, cosmetics, and pharmaceuticals.
Find More Valuable Insights
The research report analyzes the demand trends of aluminosilicates in the global market based on factors such as consumption patterns, COVID-19 crisis impact, and production rate.
As per the Persistence Market Research scope, the aluminosilicates market has been studied and segmented based on type, product type, source, application, end use, and region.
By Type (Andalusite, Sillimanite, Kyanite), By Product Type (Pure Aluminosilicate, Calcium Aluminosilicate, Sodium Aluminosilicate, Potassium Aluminosilicate), By Source(Natural, Synthetic), By Application( Flat Panel Displays, Solid Oxide Fuel Cells, Sealing Materials, Glass Fiber Composites, Food Additives), By End Use(Electronics, Petrochemical Refineries, Construction, Agriculture, Food & Beverages, Automotive & Aerospace), By Region (North America, Latin America, Europe, South Asia & Pacific, East Asia, MEA)
The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.
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