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The feldspar market size is estimated to grow at a CAGR of 5.52% between 2023 and 2028. The market size is forecast to increase by USD 888.49 million. The growth of the market depends on several factors such as the increasing investments in the development of infrastructure, the increasing demand for lightweight and high-performance materials, and the growing demand for automotive glass.
This feldspar market report extensively covers market segmentation by type (plagioclase feldspar and K-feldspar), application (glass, ceramics, fillers, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2018 - 2022.
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Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the feldspar market growth is the growing demand for automotive glass. There is an increasing use of automotive glass in various automotive components, such as rear and side windows, windscreens, and windshields. In addition, automotive glass is generally laminated or tempered glass made with the help of industrial gases, such as nitrogen, argon, hydrogen, and oxygen.
Moreover, these industrial gases are used for surface treatment, melting, and forming processes during the production of glass. In addition, the expansion of the global automotive industry is a major factor that drives the growth of the automotive glass industry. Furthermore, Asia, which has a strong presence of well-known automotive manufacturers such as Toyota Motor Corp., Suzuki Motor Corp., Honda Motor Company Ltd., Nissan Motor Co. Ltd., Hyundai Motor Co., SAIC Motor Corp, KIA Motors Corp., and Tata Motors Ltd., is one of the key regions in the global automotive industry. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the feldspar market growth is the increasing demand for glass fibers in wind turbines. The significant growth in the wind power industry has resulted in technological advances in wind turbine components. In addition, these innovations have improved the durability, efficiency, and productivity of these components. Furthermore, manufacturers of wind turbines focus on fabricating large blades with high energy output.
Moreover, fiberglass is used for making wind turbine rotor blades, as it is lightweight and exhibits a high strength-to-weight ratio and excellent stiffness. In addition, developing countries are using wind power generation technology by building many offshore and onshore wind farms with turbines with large blades. Furthermore, glass fibers are increasingly used for making wind turbines as they are lightweight and resistant to chemicals and corrosion. Therefore, as feldspar is a vital raw material for the production of glass fibers it will drive the market growth during the forecast period.
The easy availability of substitutes for glass and ceramic tiles is one of the key challenges hindering the feldspar market growth. Glass is an essential component in different end-user industries, such as automotive, electronics, healthcare, construction, and food and beverage, due to its high recyclability. However, glass can be replaced with other materials, including plastic, wood, metal, and polycarbonate, due to its lower costs when compared with glass. Furthermore, plastic is lightweight and durable and has reduced manufacturing costs by almost 25%.
Moreover, polycarbonate is widely adopted due to its adaptability in various industries, such as automotive, aviation, and packaging. It is mainly used for interior and exterior construction applications. In addition, the most recent substitute for glass is wood, as it is affordable, renewable, and offers versatility in use. Hence, such factors are negatively impacting the market. Therefore, it is expected to hinder the market growth during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Feldspar Market Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Asia Mineral Processing Co. Ltd: The company offers feldspar products such as sodium feldspar and potassium feldspar.
The research report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The plagioclase feldspar segment is estimated to witness significant growth during the forecast period. One of the main factors that contribute to the growth of this segment is the significant penetration of plagioclase feldspar in several applications and its distinctive qualities. For example, plagioclase feldspar is frequently utilized as a flux in a variety of industrial processes as well as in the production of glass and ceramics. Furthermore, the increasing demand for plagioclase feldspar in the automotive and construction industries is a major factor propelling the expansion of the global feldspar market.
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The plagioclase feldspar segment was the largest segment and was valued at USD 1.56 billion in 2018. Moreover, it improves concrete's durability in construction and is an essential ingredient in the creation of ceramic tiles and sanitary ware. In addition, the glass sector is gradually adopting it, particularly for the production of transparent glass items. Furthermore, the plagioclase feldspar is becoming increasingly popular because of its environmentally favorable qualities, which include reduced carbon emissions during manufacture. In addition, due to its wide applications, plagioclase feldspar is expected to hold its dominant position in the global feldspar market because of continuous advancements in mining methods and environmentally friendly sourcing practices. Hence, such factors are fuelling the growth of this segment which in turn will drive the market growth during the forecast period.
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APAC is estimated to contribute 51% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. Some of the main countries in APAC which are contributing to the market growth in the region are China and Japan. In addition, mining companies continue to play a significant role in feldspar exploitation, which has made APAC one of the leading producers of feldspar in the world.
Furthermore, substantial demand from the glass and ceramic industry is expected to fuel market growth in China. Moreover, in Japan, the glass industry is one of the major consumers of feldspar, as the country has a major presence of well-established glass manufacturers like AGC Co. and Nippon Sheet Glass Co. Hence, such factors are driving the market growth in APAC during the forecast period.
In 2020, during the COVID-19 pandemic, the growth of the global feldspar market witnessed a significant slowdown due to the halt in mining activities, including feldspar mining. However, in 2021, the initiation of large-scale vaccination drives lifted the lockdown and travel restrictions, which led to the restoration of operations in feldspar mining. Such factors are expected to drive the market during the forecast period.
The feldspar market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Feldspar Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.52% |
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Market Growth 2024-2028 |
USD 888.49 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.09 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 51% |
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Key countries |
US, China, India, Germany, and UK |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
A and J Microns Pvt. Ltd., Asia Mineral Processing Co. Ltd., Eczacibasi Holding AS, Global Minechem Corp., Goyal Enterprises, Imerys S.A., iMinerals Inc., LB MINERALS Ltd., Mactus Mineral LLP, Mahavir Minerals Ltd., Malli Minerals International Inc., Micronized, Minerali Industriali Srl, Pacer Minerals LLC, SCR Sibelco NV, Strategic Minerals Europe Corp., Sun Minerals, Tanvi Mines and Minerals, The Quartz Corp., and Unique Crystal Minerals LLP |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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