Future Market Insights (FMI) recently published a detailed business intelligence study on global demand for and application of feldspar in various industries. The study reveals that the global feldspar market size reached around US$ 1.3 Bn in 2018.
Robust advancement in construction and development of both commercial and residential sectors are triggering the sales of feldspar, which is widely used in making ceramic tiles. However, recycling of glass and ceramic, mining costs, and volatile logistics are some of the foremost restrains which are expected to hinder the growth of the feldspar market.
An increase in the demand for real estate and revival of the U.S. economy exert the demand for feldspar on the ceramics industry, which will further expand North America’s feldspar market.
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Key Takeaways – Feldspar Market Study
- The global feldspar market is projected to grow at a CAGR of 5.5% over the forecast period (2019-2029).
- Europe’s feldspar market accounts for 59% of the global market value, owing to emergence of Germany as one of the top producers of feldspar.
- Feldspar market in Germany was valued to be US$ 12 Mn in 2018, due to increasing demand for glass and ceramics in global automotive, construction and electronics industries.
- High growth opportunities are expected in APEJ, owing to rapid expansion of construction industry and increased government investments in infrastructural projects.
- Stringent environmental regulations on mining of feldspar are expected to hinder the market growth.
Feldspar Market Remains Highly Consolidated
The global feldspar market is highly consolidate, making it difficult for new companies to enter the marketplace. Some of the major companies dominating the market are Quarzwerke GmbH, I-Minerals Inc., Feldspar Corp., Quartz Corp., Adolf Gottfried Tonwerke GmbH, Imerys S.A., EczacibasiEsan, Granite Rock Company, LB Minerals, SCR-Sibelco NV, U.S. Silica Company, SP Minerals, Pacer Corporation, and Sunminerals.
To stay ahead of pack, manufacturers are targeted towards stronger foothold on the global market along with competitive pricing strategy. These factors played an important role in Quartz Corp’s decision to increase the price of feldspar by 5% to 10%, effective from 1st January 2020. Such strategic move is likely to influence other manufacturers and suppliers to bring high quality products to the market at affordable prices.
Feldspar Market: Segmentation
The global feldspar market is segmented in detail to cover all aspects of the market and provide a detailed market research insights to readers.
- Plagioclase Feldspar
Potassium Feldspar to Hold Relatively Large Share
The FMI study finds that potassium feldspar account for higher share than its plagioclase counterpart. Strong global focus on harnessing solar energy is significantly contributing to demand for K-feldspar, which is commonly used in solar glass to produce solar cells.
In addition, increasing utilization of post-consumer glass collected via neighborhood and local government recycling programs will continue to intensify competition for raw materials such as feldspar in the manufacturing of glass containers. However, it is imperative to note that the presence of substitutes such as nepheline syenite is projected to negatively impact the demand for feldspar.