Feldspars Market is Expected to be Valued at USD 778.2 Million in 2022, Growing Demand in Glassmaking Industry

According to Precision Business Insights (PBI), the latest report, the feldspars market is expected to be valued at USD 778.2 million in 2022, growing at a 6.7% CAGR from 2022 to 2028. The primary drivers of the expansion of the global feldspars market include increasing demand for ceramic tiles, rising investment in commercial and residential construction, and rising use of feldspar in automotive glass and various industries.

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Glassmaking Segment to Dominate the Feldspars Market:
Based on end-user, the global feldspars market can be divided into glassmaking, ceramics, pottery, and others. The glassmaking segment is expected to account for a larger revenue share in the global feldspars market, with a value share worldwide. It is expected to grow at a significant CAGR in the upcoming years. Potassium feldspar is used as raw material in the manufacturing of glass. Glass is used in various industries like construction, the automotive industry, the packaging industry, etc. Hence, it will drive the global feldspars market in the forecasted years.

Asia Pacific Feldspars Market:
The Asia Pacific market is expected to increase in the global feldspars market over the forecast period. It is projected to grow at a CAGR of xx% in the coming years. The Asia Pacific market is expanding as a result of the steady demand in the automotive and construction industry, increasing demand for ceramic tiles, steady economic growth, and flourishing glass-making industry. North America held considerable market share during the estimated period due to an increase in feldspars production.

Strategic New Product Launches, Mergers, Acquisitions, and Agreements are the key strategies adopted by market players:
The global feldspars market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In July 2022, SIBELCO acquired Echasa SA, a mining company active in the extraction of silica sand at Laminoria Quarry, near Vitoria, in the Basque Country of northern Spain.

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The feldspars market is segmented based on product type, end-user, and geography.
Based on the product type, the market is segmented into the following:
• Plagioclase Feldspar
• Alkali Feldspar

Based on the end user, the market is segmented into the following:
• Glassmaking
• Ceramics
• Pottery
• Others

Based on geography, the market is segmented into the following:
• North America
• Europe
• The Asia Pacific
• Latin America
• MEA

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Key players' profiles in the feldspars market report are Sibelco, Quartz Corporation, Minerali Industriali, LB MINERALS, CVC Mining Company, Purin Mineral Group Company, I-Minerals Inc., Quarzwerke GmbH, Micronized South Africa Limited, Imerys, and Sun Minerals.

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