Press release
Feldspar Market to Hit $8.46 Billion by 2028 at 10.9% CAGR, Driven by Automotive Demand and Construction Boom
Feldspar Market Report
Feldspar Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.46 billion In 2028 At A CAGR Of 10.9%:
The feldspar market size has grown rapidly in recent years. It will grow from $4.96 billion in 2023 to $5.59 billion in 2024 at a compound annual growth rate (CAGR) of 12.6%. The growth in the historic period can be attributed to increasing demand for ceramic tiles, increasing demand for electronic products and growth in glass manufacturing. factors that negatively affected growth in the historic period were the covid-19 impact, fluctuating raw material prices and geopolitical tensions.
The feldspar market size is expected to see rapid growth in the next few years. It will grow to $8.46 billion in 2028 at a compound annual growth rate (CAGR) of 10.9%. The growth in the forecast period can be attributed to rapid increasing demand for automotive vehicles, the growing construction sector and rapid urbanization. Major trends in the forecast period include innovative programs for the development of feldspar, using mining vibration screen technology, using 3d mine visualizers adopting hpy sorting technology and development of renewable feldspar.
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Feldspar Market Major Segments
The feldspar market covered in this report is segmented -
1) By Type: Plagioclase, Potassium
2) By Mining Type: Underground, Surface Mining
Key Driver - Surging Automotive Industry Demand Propels Growth In Feldspar Mining Market
Increasing demand for automotive vehicles is expected to propel the growth of the feldspar mining market going forward. The automotive industry is the production and sales of vehicles. Feldspar is used for automotive glass manufacturing which is crucial in the automotive industry, as a result, the demand for Feldspar increases with the demand for the automotive industry. For example, in 2021, according to the European Automobile Manufacturers Association, Belgium-based European Union, in the first three-quarters of 2021, car registrations across the EU climbed 6.6% and are expected to reach 7.5 million units in the coming years. Therefore, increasing demand for automotive vehicles is driving the feldspar mining market.
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Prominent Trend - 3D Mine Visualizers Transforming Mining Operations For Enhanced Productivity
The mining companies are using 3D mine visualizers to obtain a real-time digital model of a mine. A 3D mine visualizer generates a three-dimensional model of the mine layout and transfers it directly to the operator. With a web-based interface, information about the model is available with any connected device. It offers full recording and playback capabilities in 3D, allowing operators to review and analyze historical data to improve productivity and identify best practices. 3D mine visualizers significantly enhance the productivity of large mining environments. It is a valuable tool in operations planning, analyzing problematic areas, and tracking mine development over time. For instance, Companies such as Sandvik and Komatsu are offering 3D visualizer systems. In July 2021, Tech Soft 3D, a US-based software company, introduced its HOOPS Visualize, a graphics engine for the MineRP Platform that delivers powerful 3D visualization capabilities to easily visualize very large and complex geological models, providing users with insights for better and profitable decisions in mine planning and execution.
Feldspar Market Players
Major companies operating in the feldspar market report are Imerys S.A., Sibelco, Eczacıbaşı Group, Quarzwerke GmbH, The Quartz Corporation, Gimpex Ltd., Minerali Industriali, Kaltun Madencilik Sanayi ve Ticaret, LB MINERALS, Ltd., Mahaveir minerals, Hindalco Industries, Vedanta Ltd, Sun Minerals, Ceraclique, Global Minechem Corporation, Zijin Mining Group Company Limited, CMOC Group Ltd, Komatsu, Glencore, Polymetal International PLC, Amur Minerals Corporation, Jastrzębska Spółka Węglowa, KGHM, CupruMin, SGS mining and minerals, Esan, Micronized Group, RAK Ceramics, Kajaria Ceramics Limited, Ceramica Carmelo For, Pamesa Ceramica, Kohler Co., LIXIL Group Corporation, Villeroy & Boch, Duravit AG, Duratex SA, Wasit Group, Ma'aden, Syrah Resources Saudi Arabia LLC, Durer Refrakter Malzemeleri Sanayi Ve Ticaret A.S., MARMARA METAL MAMULL.TIC.A.S., United Mining Investments Co., Sisecam Group, Kaolin Industrial Minerals San
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Largest And Fastest Growing Region In The Market
Western Europe was the largest region in the feldspar market in 2023. The regions covered in the feldspar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Feldspar Market Report Structure
3. Feldspar Market Trends And Strategies
4. Feldspar Market - Macro Economic Scenario
5. Feldspar Market Size And Growth
…..
27. Feldspar Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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