New York, NY, Jan. 08, 2019 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Feldspar Market by Type (Plagioclase Feldspar and K-Feldspar) and by End-Use (Glass, Ceramics, Fillers, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024”. According to the report, the global feldspar market was valued at approximately USD 543 million in 2017 and is expected to generate around USD 836 million by 2024, at a CAGR of around 6.36% between 2018 and 2024.
Feldspar is a group of rock minerals that constitute aluminum silicate as the main mineral. Other than aluminum silicate, the other constituents of feldspar include potassium, soda, or lime. Feldspars are crucial components for building stones. In fact, most products that we use in our daily lives are made of feldspar. The alumina and alkali content of feldspar makes it a useful element in various industrial processes. This aluminum content provides durability, hardness, and corrosion resistance to any finished product made from feldspar.
Browse through 49 Tables & 16 Figures spread over 110 Pages and in-depth TOC on “Global Feldspar Market Size & Share 2018 Report: By Type, Industry Demand, Applications, Growth Analysis and Forecast 2024”.
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The ongoing development and advancement in the construction industry, especially in residential and commercial sectors, is the key factor that is likely to drive the feldspar market in the upcoming years. In the construction industry, feldspar is mainly used for making building tiles, dinnerware, bathroom tiles, etc. The increasing product demand by glass and ceramic industries in the emerging nations is anticipated to boost the market in the upcoming years. In ceramic and glass production, feldspar is mainly used as a flux, to lower the melting temperature when added to ceramic or glass products. These factors are anticipated to drive the feldspar market over the forecast timeline. However, the volatile logistics and mining costs might hinder the feldspar market over the estimated time period.
By type, the feldspar market is segmented into plagioclase feldspar and K-feldspar. K-feldspar is likely to dominate the market over the forecast timeline, owing to its importance in the process of manufacturing glass. By end-use, the market is segmented into glass, ceramics, fillers, and others. The glass segment is expected to dominate the feldspar market in the upcoming years, due to the increasing demand for automotive glass, both flat and hollow.
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North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa comprise the regional segment of the global feldspar market. Europe held the largest share in the global feldspar market in 2017 and is expected to maintain its dominance in the upcoming years. The region is the largest producer of potassium type feldspar. Italy is considered as the second top producer of potassium type feldspar globally after Turkey. Moreover, the rising demand for feldspar for industrial tools and machinery as abrasives is anticipated to further drive this regional market in the upcoming years.
The Asia Pacific feldspar market is projected to grow at the highest rate in the forecast timeframe. Rapid urbanization coupled with industrialization is projected to propel this regional market’s development in the years ahead. The thriving construction sector and substantial infrastructural growth along with the continuously developing glass and ceramic industries in China, Japan, and India are anticipated to further boost the region’s feldspar market in the future.
Browse the full “Feldspar Market by Type (Plagioclase Feldspar and K-Feldspar) and by End-Use (Glass, Ceramics, Fillers, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2018—2024” Report at https://www.zionmarketresearch.com/report/feldspar-market
North America is predicted to offer significant growth opportunities for the manufacturers operating in the feldspar market over the forecast timespan. This can be attributed to the increasing demand for potassium type feldspar in the automotive industry for manufacturing automotive glass. The region is an automotive manufacturing hub. The rising demand for automotive glass in vehicles is likely to positively impact the market in the next few years.
Some industry players operating in the feldspar market include I-Minerals Inc., Quarzwerke GmbH, Adolf Gottfried Tonwerke GmbH, EczacibasiEsan, LB Minerals, U.S. Silica Company, El Waha Mining & Fertilizers, SP Minerals, SCR-Sibelco NV, Granite Rock Company, Imerys S.A., and Feldspar Corp.
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This report segments the global feldspar market into:
Global Feldspar Market: Type Analysis
- Plagioclase Feldspar
- K-Feldspar
Global Feldspar Market: End-Use Analysis
- Glass
- Ceramics
- Fillers
- Others
Global Feldspar Market: Regional Analysis
- North America
- The U.S.
- Europe
- UK
- France
- Germany
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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