Potassium Feldspars Market Size | Emerging Trends, Growth Insight,...

Potassium Feldspars Market Size | Emerging Trends, Growth Insight, Leaders, Services and Future

Posted 2022-12-09 04:46:25

According to Market Research Future (MRFR), the global potassium feldspars market is projected to witness significant growth with healthy CAGR during 2022 and 2030 (forecast period). The report offers insight into leading competitors with competitive analysis, market dynamics, regional analysis, and a detailed overview of market situations in the forecast period.

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Potassium feldspars are aluminum silicates which contain potassium minerals. Feldspars are classified into two major groups, potassium feldspar, and plagioclase feldspar. Potash Feldspar mineral contributes to the composition of the enamel, ensuring the absence of defects and the neatness of the finished product like enamel frits. Due to a range of industrial applications of feldspar, such as, its use as a raw material in the glass and ceramics industry, coating for welding rods and as extenders and fillers in the paint industry, the demand for potassium feldspar is expected to rise during the forecast period.

Segmentation

The global Potassium Feldspar Market Size is mainly segmented by application and region. The application market is segmented into glass, ceramic & tiles, enamel frits, and glazes, abrasive, and others. Glass and ceramic industries, including products such as appliances, containers, and manufacturing, continued to be the highest end-use of feldspar in China and the United States. The bulk of potassium feldspar used by the glass industry is for the processing of bottle glass, drinking glass, and fiberglass for insulation. The global market for potassium feldspar is driven by the demand from the Asia Pacific (APAC), Europe, South America, and the Middle East & Africa.

Regional analysis

AsiaPacific is expected to remain a leading region with a market share of 39% over the forecast period, led by Europe and North America, which holds a significant market share in potassium feldspar. It is the fastest-growing market for potassium feldspar due to increasing demand from emerging economies such as China and Japan. Increased demand for ceramics and the booming construction industry in the region is expected to drive the Asia Pacific market over the forecast period.

Europe is expected to see substantial growth rates due to growing demand for ceramics and glasses in manufacturing, electronic sensors, automotive and medical devices. A significant amount of potassium feldspar stock is expected to support market participants in the region in terms of raw material sourcing in Turkey, Poland and Germany. Turkey has about 60 different mines and metals, as well as 4,500 different mineral reserves. The nation is one of the world's leading feldspar producers and exporters. It has a significant feldspar reserve, accounting for almost 10% of the total global reserve. According to the United States Geological Survey (USGS), Turkey is one of the world's leading producers and exporters of feldspar, with approximately 60 different mines and metals, as well as 4,500 mineral deposits. It has a strong feldspar reserve, accounting for almost 10% of the total global reserve, due to which the demand for potassium feldspar is expected to rise significantly in Europe during the forecast period.

Market Dynamics

Increased demand for ceramics across major end-use industries, such as electrical & electronics, construction, and medical devices, is expected to be the main drivers of the global market for potassium feldspar over the forecast period. The global market for potassium feldspar is driven by its widespread use in the glass industry like manufacture of glass, fiberglass and specialty glass (used in the production of kitchenware) and as a raw material in the manufacture of ceramics used in bathroom fixtures, kitchen fixtures, and floor tiles. However, the existence of a substantial substitute for potassium feldspars, such as nepheline syenite, hinders market growth. Global demand for nepheline syenite is increasing due to a rise in the absorption of nepheline in glass products due to its improved resistance to breakage and scratching. Nepheline syenite has a low iron content which contributes to the required whiteness of the powdered material used for glass and as an additive to pigments, fillers, and fiberglass by which it is used as a substitute for potassium feldspar.

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Key Players

Key players of the global potassium feldspars market areMineraliIndustrialiS.r.l.(Europe), Sibelco NV (Europe),Quartz Corporation (Europe), Gottfried Feldspat GmbH (Germany),LB MINERALS, Ltd. (Europe), CVC Mining Company (India), Purin Mineral Group Company Ltd. (Thailand), and others.