Rockville, April 10, 2023 (GLOBE NEWSWIRE) -- The global potassium feldspar market is predicted to reach a valuation of US$ 1.3 billion by the end of 2033. Global demand for potassium feldspar is forecasted to expand at a CAGR of 4.5% from 2023 to 2033. Potassium feldspar is projected to experience increased demand as a significant raw material to manufacture ceramics, which are widely used in kitchen fixtures, bathroom fixtures, floor tiles, etc.
During the forecast period, demand for potassium feldspar is anticipated to increase owing to its numerous industrial applications. For instance, it is used as a major raw material in the glass industry, as a coating material for welding rods, and as fillers and extenders in the paint industry. A substantial increase in the demand for glass from the automotive manufacturing industry is also leading to increased sales of potassium feldspar.
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| Potassium Feldspar Market Scope | |
| Report Coverage | Details |
| Base year | 2022 |
| Historic period | 2017-2021 |
| Forecast period | 2023-2033 |
| Growth momentum & CAGR | Accelerate at a CAGR of 4.5% |
| Market growth 2023-2033 | US$ 1.3 Billion |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Pacer Minerals, LLC, Minerali Industriali S.r.l, Quarzwerke Group, Mudgee Dolomite & Lime Pty Ltd., Snow White Minerals Pvt. Ltd., The Quartz Corporation, Global Minechem Corporation, National Mining Company |
| 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. |
| 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. |
Potassium feldspars are aluminum silicates, which contain potassium minerals. In many building stones, feldspars are used as vital components. Key industry players are making huge investments to improve their effectiveness which is predicted to lead to increased demand from the manufacturing sector for potassium feldspars.
Key Takeaways from Market Study
- The potassium feldspar market stands at a valuation of US$ 875 million in 2023.
- Worldwide demand for potassium feldspar is set to rise at a CAGR of 4.5% from 2023 to 2033.
- Sales of potassium feldspar are projected to reach US$ 1.3 billion by the end of 2033.
"Worldwide demand for potassium feldspar is increasing attributed to rising utilization of natural substances to produce ceramics, which are used in kitchen installations, restroom apparatuses, and floor tiles," says a Fact.MR analyst.
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Growing Demand for Ceramic Tiles Propelling Demand for Potassium Feldspar
Ceramic tiles are one of the significant materials, which are utilized in the construction industry. Therefore, the growth in the construction industry is estimated to put a direct impact on sales of ceramic tiles. Kaolin, bentonite, silica, and feldspar are prominent raw materials used in the production of ceramic tiles and thus put a direct impact on the growth of the target market.
Presence of Potassium Feldspar Substitutes and High Mining Cost Restraining Market Growth
There are certain substitutes to potassium feldspars, which are available across the globe. Nepheline syenite is used as a substitute for potassium feldspar, which is estimated to adversely impact market growth.
Manufacturers of potassium feldspar need to spend a handsome amount on mining activities. Moreover, the imposition of stringent environmental regulations on the mining of feldspar is also estimated to adversely impact expansion opportunities in the target industry.
Asia Pacific Holding Substantial Market Revenue Share
Asia Pacific held more than 45% of the global market revenue share in 2022. The presence of strong ceramics and glassmaking sectors in the region is anticipated to positively influence demand for potassium feldspar over the forecast period.
The region is expected to observe steady economic growth due to the flourishing economies of India and China. Both countries are noteworthy markets for the automotive and construction sectors. These factors are further expected to provide a stable platform for the growth of the glassmaking industry, which is anticipated to generate growth opportunities in the Asia Pacific potassium feldspar market over the coming decade.
Winning Strategy
Partnerships, agreements, etc. are adopted as strategies by suppliers of potassium feldspar to gain a competitive edge in the target industry.
For instance,
- A definitive agreement was signed between Skyharbour and Pitchnlende Energy and Valor Resources in December 2020. The motive of this agreement is to obtain around 80% of the assets of the North Falcon Point Uranium Property. Mineral sources, including feldspar, etc. are the key assets of this agreement.
Segmentation of Potassium Feldspar Industry Research
- By Type:
- Microcline
- Sanidine
- Orthoclase
- Others
- By End Use:
- Automotive
- Building and Construction
- Electronic Appliances
- Medical
- Others
- By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the potassium feldspar market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights into the market based on the type (microcline, sanidine, orthoclase, others) and end use (automotive, building & construction, electronic appliances, medical, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Potassium Feldspar Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Potassium Feldspar sales grow until 2033?
- Which are the factors hampering the Potassium Feldspar demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Potassium Feldspar Market during the forecast period?
Check out more related studies published by Fact.MR Research:
Potassium Formate Market Sales: Global sales for potassium formate stands at a market valuation of US$ 725.5 million in 2023 and is forecasted to increase steadily at 4.9% CAGR over the next ten years.
Potassium Metabisulfite Market Size: The global potassium metabisulfite market size is set to cross a valuation of US$ 393.9 million in 2023 and further expand at a CAGR of 4.4% to reach US$ 605.8 million by the end of 2033.
Potassium Permanganate Market Share: The global share of potassium permanganate in 2021 were held at US$ 845 Million. The projected market growth during 2022 - 2032 is expected to be 9.1%.
Potassium Silicate Market Demand: The global market is set to enjoy a valuation of US$ 2.9 billion in 2023 and demand for potassium silicate market further expanding at a CAGR of 3.7% to reach US$ 4.2 billion by the end of 2033.
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