Feldspar Market Size, Growth, Trends and Foresight to 2027

04/feb/2021 09:06:56 Grand View Research Contatta l'autore

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The global feldspar market size is estimated to reach USD 2.35 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2020 to 2027. Rising demand for the product as a filler in the manufacturing of ceramics products is positively influencing the industry growth. Feldspar is an aluminosilicate mineral that is widely found across the earth’s crust and primarily comprises calcium, sodium, and potassium. The product is mined in bulk volumes across countries, such as Turkey, Italy, India, China, Thailand, Brazil, and the U.S. The global feldspar production was evaluated around 25.6 million tons in 2018 as per the data published by the United States Geological Survey (USGS) in 2019.

The presence of distinctive chemical groups within the product makes it ideal in the manufacturing of glass and ceramic products. The glassmaking is projected to remain the key end-use segment for the product. The presence of alumina assists in providing superior chemical resistivity makes it ideal in glassmaking. The growth in the production of glass has a direct relation in positively influencing the dynamics of feldspar. The global market space of feldspar observed stable growth from 2016 to 2019. However, with the emergence of global pandemic and lockdown on industrial activities, the product demand in FY 2020 is likely to observe stagnant growth.

The demand for the product has faced heavy brunt in the first quarter of FY 2020 as the key end-use sectors, such as the glass and ceramics industry, observed disruption in their operational activities. The trend is projected to continue over the short term period as the world normalizes itself into this situation of panic and distress caused due to the coronavirus. Vendors of the industry are formulating strategies to implement smart automation techniques to enhance their efficiency and productivity.

Browse Details of Report @ https://www.grandviewresearch.com/industry-analysis/feldspar-market?

Feldspar Market Report Highlights

·         Glassmaking is expected to remain the dominant end-use segment in terms of revenue as well as volume over the forecast period. Resumption of industrial activities, especially in key glassmaking countries, such as India and China, is likely to aid the segment growth over the forecast period

·         The ceramics end-use segment is projected to witness the highest CAGR in terms of volume over the forecast period. The rising popularity of the product as filler in ceramic tile manufacturing is positively influencing segment growth

·         The pottery end-use segment is projected to observe slow growth as compared to its counterparts over the forecast period. The segment is likely to face tough times due to the emergence of a global pandemic

·         Europe is projected to remain the second most dominating region in terms of volume and revenue over the forecast period. The presence of strong glass industry in the region is likely to fuel the regional growth over the predicted timeline

·         Asia Pacific is likely to observe swift growth in terms of volume as well as the revenue over the forecast period. The presence of global powerhouses, such as China and India, is projected to push the market growth over the long term period.

Feldspar Market Segmentation

Grand View Research has segmented the global feldspar market on the basis of end-use and region:

Feldspar End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

·         Glassmaking

·         Ceramics

·         Pottery

·         Others

 

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