Feldspar Market Size, Share and Forecast (2019-2026)


Posted December 17, 2019 by srinath22

The global feldspar market is forecasted to reach USD YY billion by 2026, growing at a CAGR of 6.34 % during the forecast period (2019-2026).

 
Market Overview
Feldspar is a group of rock minerals that distinguished by the presence of aluminum and silicate as the main mineral. Other than aluminum silicate, the other elements of feldspar include soda, potassium, or lime. Feldspars are vital components for building stones.
Also, the term feldspar encompasses a whole range of materials. Most of the products used on a daily basis are made with feldspars such as glass for protection, glass for drinking, fiberglass for insulation, the floor tiles and shower basins in bathrooms, and the tableware.
The global feldspar market is forecasted to reach USD YY billion by 2026, growing at a CAGR of 6.34 % during the forecast period (2019-2026).

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Market Dynamics
The increasing product demand by ceramic and glass industries in the emerging nations is anticipated to propel the market in the coming years.
In ceramic and glass production, feldspar is mostly used as a flux, to lower the melting temperature when added to the glass or ceramic products. These factors are expected to drive the feldspar market over the forecast timeline.
Further, the ongoing development and advancement in the construction industry in the United States, especially in residential and commercial sectors, is a key factor that is likely to drive the feldspar market in the coming years.
However, volatile logistics and mining costs might hamper the feldspar market over the estimated period.

Industry Size and Segmentation Analysis
The global feldspar market is segmented into glass, ceramics, fillers, and others. Glass industry dominates the market owing to its alumina content which provides workability, hardness, strength, and makes glass more resistant to chemicals.
Also, Feldspar is used in the manufacture of glass products (70%), in ceramic and other products (30%), according to the survey conducted by the U.S. Geological Survey (USGS).
In increasing the application of feldspar in the glass, the industry involves solar glass in the production of solar panels which propel the market growth in the coming years.
Further, Glass, including beverage containers, plate glass, and fiberglass insulation for housing and building construction, continued to be the leading end-use of feldspar in the United States.

Geographical Share
Geographically, the global feldspar market is segmented into North America, South America, Europe, Asia Pacific, and the Middle East and Africa. North America dominates the market in terms of domestic production and its sales.
According to U.S. Geological Survey, in 2017 domestic production and sales of feldspar in the United States is increased by more than 10% and the average unit value of sales decreased by 3% from those of 2016.
Further, U.S. feldspar production in 2017 had an estimated value of USD 35.4 million. The three leading companies mined and processed about 75% of production; four other companies supplied the rest.
The Producing States in the United States were North Carolina, Virginia, California, Idaho, Oklahoma, and South Dakota, in descending order of estimated tonnage.

Global Feldspar Manufacturers
Major players present in the global feldspar market include I-Minerals Inc., The Quartz Corporation, LB MINERALS, Ltd., Imerys, Adolf Gottfried Tonwerke GmbH, Sun Minerals Inc., Sibelco, Micronized Group, Reade International Corp., and Micronized South Africa Limited.

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Last Updated December 17, 2019