Feldspar is an important raw material used in the production of glass, ceramics and porcelain. It helps lower the fusion temperature of glass during production. Feldspar is also used as a flux in the manufacture of pottery, improving workability and mechanical strength of finished products at lower firing temperatures.
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 2024-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increased usage of feldspar in the production of ceramics is one of the key trends driving the feldspar market growth. Ceramics end use accounted for over 45% of the total feldspar consumption globally in 2024. Rapid urbanization and infrastructure development projects have boosted the demand for ceramic tiles and sanitary wares over the years. The trend is expected to continue during the forecast period with growing construction activities across developing nations such as China, India, Indonesia, Brazil and Mexico. For instance, according to Global Construction Perspectives and Oxford Economics, the global construction industry is estimated to grow by 85% to $15.5 trillion by 2030. This rising demand for ceramics is expected to augment the growth of feldspar market over the forecast period.
Segment Analysis
The global feldspar market is dominated by the ceramic segment, accounting for more than 60% share of the overall market. Feldspar is the principal raw material used in ceramic products such as tiles, sanitary ware, tableware, and technical ceramics.Within the ceramic segment, tiles dominates consumeing over 30% of the total feldspar production. This is due to surge in residential and commercial construction activities across major economies.
Key Takeaways
The Global Feldspar Market Size is expected to witness high growth over the forecast period of 2024 to 2031. The global Feldspar Market is estimated to be valued at US$ 728.73 Bn in 2024 and is expected to exhibit a CAGR of 8.6% over the forecast period 2024-2031.
The Asia Pacific region is currently the fastest growing market for feldspar. This is attributed to robust growth of the construction sector in countries such as China and India. These countries contribute over 50% to the global demand for ceramic products which is the primary end-use industry for feldspar.
Key players operating in the feldspar market are Sibelco, Imerys, Sun Minerals, CVC Mining, Gottfried Feldpsar, Quartz, Kaltun Madencilik Sanayii ve Ticaret, The Quartz Corp, Mulk Holdings, and Minerali Industriali. Sibelco holds a significant share of over 15% in the global feldspar market due to its strong production and distribution network across key ceramics markets. Imerys too is a leading player by virtue of its portfolio of high-quality feldspar products and technical expertise in minerals.
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