Global Feldspar Market -2024-2031

Overview

Global Feldspar Market reached US$ 783.6 million in 2023 and is expected to reach US$ 1,266.2 million by 2031, growing with a CAGR of 6.0% during the forecast period 2024-2031.

The global feldspar market is being driven by its widespread application in industries such as ceramics, glass manufacture, building and chemical production. Feldspar is an important raw material due to its alumina and alkali concentration, which aid in the melting and bonding processes in ceramics and glassmaking.

For instance, Cerame-Unie asserts that the European Union's ceramic industry leads the world in producing high-quality, specifically designed, value-added ceramic products made by adaptable and innovative companies, most of which are small and medium-sized enterprises. With an approximate yearly production value of €30 billion, the ceramics sector contributes approximately 25% of global production and creates over 200,000 direct jobs in the EU.

Production is also robust in the Czech Republic, Poland and Hungary, all of which have thriving ceramic industries that usually export to other EU countries. Therefore, the growing ceramic industry in Europe generating the huge demand for the feldspar in the regional market with significant regional market share.

Dynamics

Harnessing Synergies for Evaluating Feldspar Production Feasibility

The pooling of resources, including financial, technical and human resources, is made possible by cooperation among key stakeholders. It may result in more effective research and development activities to evaluate the feasibility of producing feldspar. The manufacturing of feldspar may entail hefty financial outlays and hazards. Key participants might share these risks by signing a memorandum of understanding, which may encourage more ambitious projects and research into novel sources or ways of production.

In August 2023, in order to conduct a DFS to evaluate the feasibility of producing feldspar feedstock as a by-product of spodumene concentrate production at the company's Ewoyaa lithium project in Ghana, Atlantic Lithium has inked an agreement with The University of Mines and Technology, in the Western Region of Ghana. In order to determine the economic, technical and financial feasibility of producing feldspar, quartz (silica) and muscovite byproducts of the projected Ewoyaa lithium plant the partnership will evaluate the future market conditions.

Growing Construction Activity and Economic Expansion

Feldspar can be employed as a filler and extender in paints and coatings for building. It improves the qualities of paints and coatings, including their longevity and weather resistance. Increased construction activity raises the need for paints and coatings, which indirectly influences the demand for feldspar.

The industry's growth and the nation's GDP growth are strongly correlated due to the industry's reliance on broader economic activity, which includes income levels, industrial production and investment on infrastructure and building. The Indian paint industry is positioned for a bright future given the country's solid economic foundations, possibilities for future expansion and the renewed fervor for "Made in India."

Substitution by Alternative Materials

Alternative materials encounter direct competition from feldspar in a range of applications, including construction, glassmaking and ceramics. By providing equivalent or better qualities at a more affordable price, these substitute materials have the potential to displace feldspar from the market, hence lowering its demand and future growth potential.

Manufacturers might favor substitutes with more reliable supply chains or availability than feldspar, particularly in areas where feldspar logistics provide difficulties. The preference for alternatives may limit the market for feldspar's growth by decreasing its share of glass and ceramic applications.

Growing Investment in Building and Construction

The need for residential and commercial buildings is driven by urbanization trends and population growth, which boosts construction activity. The pattern increases the need for building supplies, such as glass and ceramic tiles, of which feldspar is an essential ingredient. The market for products based on feldspar is expected to rise further as more people shift to cities and as building projects increase in number to meet the growing population.

In June 2023, the real estate company Concorde plans to invest Rs 225 crore in business development. The company declared that it would strategically invest Rs 225 crore to expand its commercial segment. Over the following two years, Concorde will introduce more than two million square feet of commercial space. In order to further grow its commercial business, Concorde is building Grade A commercial premises. Therefore, growing investment further fuels the growth of the global feldspar market.

Segment Analysis

The global feldspar market is segmented based on type, application, end-user and region.

Innovations in Flat Glass Manufacturing for Sustainability Fuels Feldspar Demand

Flat glass, particularly glass used in architectural applications such as windows and facades, requires controlled thermal expansion qualities to endure temperature fluctuations without cracking or breaking. Feldspar helps manage the glass's thermal expansion coefficient, assuring its stability and longevity in a variety of environments.

On February 6, 2023, AGC and Saint-Gobain have announced the collaboration to design a ground-breaking pilot line for flat glasses that would significantly reduce direct CO2 emissions. AGC's patterned glass manufacturing line in Barevka, the Czech Republic, will be completely renovated as part of this research and development project to create a high-performing, innovative line that aims to be 50% electrified and 50% fueled by a combination of gas and oxygen. Therefore, glass production as application segment captures the majority of the total global segmental shares.

Geographical Penetration

China's Dominance in Chemical Manufacturing on Global Supply Dynamics for Feldspar

China's dominance in chemical manufacturing has an impact across the entire supply chain. As Chinese manufacturers expand their feldspar use, global supply dynamics may shift, affecting prices and availability in the Asia-Pacific and beyond.

For example, as per the National Bureau of Statistics, China, the revenues in China's chemical manufacturing sector were at 3.6% in the first ten months of 2022 totaling around US$ 93 billion. Sales in the business increased by 13.6% to US$1.1 trillion, primarily due to rising oil prices. As a result, China's burgeoning chemical output and sales drive up demand for feldspar as filler or fluxing agent in a variety of applications.

COVID-19 Impact Analysis

The demand for feldspar as a raw material decreased as a result of the downturn in the building and glass manufacturing industries. The demand for feldspar is immediately impacted by any decline in the ceramics and glass sectors, as feldspar is an essential component of these industries.

The halt of building activity and the delayed recovery following the lifting of the lockdown are predicted to cause construction firms to see a 13-17% year-over-year decline in revenue. Between April 2019 and April 2020, there was a decrease of 11.7% in building construction, an 8.4% loss in heavy and civil engineering and a 13.4% decline in specialty trade.

Russia-Ukraine War Impact Analysis

Larger trade interruptions or economic penalties caused by geopolitical tensions can have an impact on global trade dynamics and economic activity. It can have implications across industries, potentially altering demand for feldspar based on changes in production, consumption or investment trends. Russian military activities in Ukraine had a substantial influence on a variety of industries, particularly on construction industry and chemical manufacturing.

By Type

• Plagioclase Felspar
• K-Feldspar

By Application

• Glass Production
• Ceramics
• Fillers
• Flux in Metallurgy

By End-User

• Construction
• Chemical
• Glass Industry
• Metallurgical
• Ceramics Industry
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Russia
  • Rest of Europe
• South America
  • Brazil
  • Argentina
  • Rest of South America
• Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In December 2023, For its flagship Ewoyaa lithium project in Ghana, West Africa, Atlantic Lithium, an Africa-focused lithium explorer, has revealed a maiden feldspar Mineral Resource Estimate (MRE) of 15.7Mt at 40.2% feldspar. 13.7Mt (87%) of the estimated amount falls within the Measured and Indicated categories.
• In August 2023, In order to conduct a DFS to evaluate the feasibility of producing feldspar feedstock as a by-product of spodumene concentrate production at the company's Ewoyaa lithium project in Ghana, Atlantic Lithium has inked an agreement with The University of Mines and Technology (UMaT), Tarkwa in the Western Region of Ghana.
• In 2018, in Western Australia, Pioneer Resources Ltd.'s Pioneer Dome project has identified a market-significant volume of potassium feldspar close to the Sinclair Caesium deposit.

Competitive Landscape

The major global players in the market include Imerys Minerals Ltd., EczacIbasI Esan, Sibelco Nordic AS, Micronized Group, I-Minerals Inc., Quarzwerke Group, The Quartz Corp, Kaltun Mining Company, Micronized South Africa Limited. and LB MINERALS, Ltd.

Why Purchase the Report?

• To visualize the global feldspar market segmentation based on type, application, end-user and region, as well as understands key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of feldspar market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Type mapping available as excel consisting of key products of all the major players.

The global feldspar market report would provide approximately 61 tables, 65 figures and 187 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies