by Feldspar is a group of rock-forming tectosilicate aluminosilicate minerals that are important constituents of igneous, metamorphic and sedimentary rocks. Feldspar minerals find wide applications in glass, ceramics and enamelware industries where they are used as fluxing agents to lower the melting point of other components. The growing construction sector along with flourishing glass industry have augmented the demand for feldspar.
The global Feldspar Market is estimated to be valued at US$ 728.73 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The rising demand from the glass industry remains the key growth driver for the global feldspar market. Feldspar constitutes around 60% of the total raw material required for glass production. It acts as a flux which helps lower the melting point of silica, the primary raw material for glass. Flourishing construction activities especially in developing nations of Asia Pacific and Middle East and Africa have augmented the demand for glass which in turn has spurred the need for feldspar. Furthermore, sodium-rich feldspar or albite finds uses as a flux in glass bottle industry whereas potassium-rich feldspar or orthoclase is used in glass containers, ceramics, enamels and glass wool industries. The thriving glass industry, especially in Asia owing to increasing automotive production and growth in solar applications, has propelled the demand for feldspar over the forecast period.
SWOT Analysis
Strength: Feldspar has wide applications in glassmaking, ceramics and enamelware which gives it an advantage.
Weakness: Prices of feldspar are highly volatile depending on demand-supply dynamics in major regions.
Opportunity: Rapid growth of construction industry in Asia Pacific provides growth opportunities for feldspar market.
Threats: Stringent mining regulations and environmental norms pose threats to smooth supply of feldspar.
Key Takeaways
The Global Feldspar Market Size is expected to witness high growth. The global Feldspar Market is estimated to be valued at US$ 728.73 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024 to 2031.
Regional analysis related content comprises Asia Pacific dominates the global feldspar market currently. The region is forecast to continue its dominance during the forecast period due to rapid growth of construction activities and strong manufacturing base for ceramics and glass industries in countries such as China, India and Japan.
Key players related content comprises Key players operating in the feldspar market are Sibelco, Imerys, The Quartz Corporation, Eczacibasi Esan, Kaleje Grup, CVC Mining, Mahavir Minerals, Sun Minerals and Pacer Corporation. The players are increasingly investing in expanding production capacities and integration along the value chain to cater to growing demand and gain competitive advantage.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
