Vancouver, British Columbia, March 17, 2021 (GLOBE NEWSWIRE) -- The global feldspar market size is expected to reach USD 1.10 Billion by 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Increasing investments into commercial and residential construction projects and infrastructure and rising demand for ceramic tiles, glass materials, coatings, fillers, and extenders are some key factors supporting growth of the global feldspar market. Moreover, increasing real estate development activities in developing countries and rising demand for electronic products is driving demand for feldspar-based components and products and the trend is expected to continue over the forecast period.
Feldspar provides alumina for improving glass hardness, durability, and resistance to chemical corrosion. Feldspar is used as a flux in the production of ceramics, and serves to lower the vitrifying temperature of a ceramic body during firing and forming a glassy phase. Feldspar can be classified into two forms, plagioclase feldspar and K-feldspar. Sodium and potassium are the two major minerals differentiating the types of feldspars. Plagioclase feldspar is mainly white in color, and is used as filler in coatings, paints, plastics, and other materials.
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Some Key Findings in the Report:
- In December 2020, Pacific Empire Minerals Corp. announced signing of a definitive agreement to grant CAVU Mining Corp. an exclusive option to earn up to a 100% interest in the Company’s 3,070-hectare Kitimat Copper-Gold Project in British Columbia, Canada. The property is rich is various mineral resources such as gold, copper, feldspar, etc.
- In December 2020, Power Metals Corp. entered into an amending agreement with Exiro Minerals Corp. in order to acquire two mineral mining assets, which are Paterson Lake and Gullwing-Tot Lakes. These properties hold feldspar, lithium, and tantalum reserves.
- The glass industry segment accounted for largest revenue share in the global market in 2020, driven by rising demand for automotive glass in the automotive industry and increasing construction and renovation activities in commercial and residential sectors 2021-onwards.
- North America accounted for a significantly robust revenue share in the global market in 2020, with significantly large revenue share contribution from the market in the United States. Increasing demand for glass from the automotive industry is a key factor driving revenue growth of the market in this region.
- Key players operating in the market are I-Minerals Inc., Quarzwerke GmbH, Micronized South Africa Limited, Imerys, Eczacıbaşı Holding A.Ş., Adolf Gottfried Tonwerke GmbH, LB MINERALS, Ltd., Sibelco, QUARTZ Corp, and Sun Minerals.
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For the purpose of this report, Emergen Research has segmented the global feldspar market based on type of product type, application, end-use, and region:
- Product Type Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2018–2028)
- Plagioclase Feldspar
- K-Feldspar
- Marketing Channels Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2018–2028)
- Online
- Offline
- End-use Type Outlook (Revenue: USD Billion; Volume: Million Metric Tons; 2018–2028)
- Glass Industry
- Ceramics Industry
- Fillers
- Others
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- Regional Outlook (Revenue: USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Russia
- Germany
- U.K.
- France
- BENELUX
- Italy
- Spain
- Czechia
- Belgium
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
- North America
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