Press release
Emerging Trends to Drive Feldspar Market Growth at 10% CAGR Through 2029
Feldspar
What Will the Feldspar Industry Market Size Be by 2025?
The size of the feldspar market has seen swift expansion in the past few years. The market worth, which stood at $5.43 billion in 2024, is projected to rise to $6.07 billion in 2025, registering a compound annual growth rate (CAGR) of 11.9%. The surge in the previous period is owed to the escalating demand for ceramic tiles, a rise in the consumption of electronic products, and expansion in the glass manufacturing sector.
What's the Long-Term Growth Forecast for the Feldspar Market Size Through 2029?
The market size of feldspar is projected to witness a swift expansion in the coming years, with its value predicted to reach $8.91 billion by 2029, growing at a Compound Annual Growth Rate (CAGR) of 10.0%. This growth throughout the projection period is primarily due to the escalating demand for automobiles, an expanding construction industry, and rapid urbanization. During the forecast period, key trends include pioneering programs targeted at feldspar development, the application of mining vibration screen technology, the utilization of 3D mine visualizers, embracing HPY sorting technology, and the creation of renewable feldspar.
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What Are the Key Growth Drivers Fueling the Feldspar Market Expansion?
The ascension in the need for automotive vehicles is anticipated to bolster the feldspar market's expansion. This industry centers around the manufacturing and selling of vehicles, wherein the use of Feldspar for automotive glass production is vital. As such, when the automotive industry thrives, so does the demand for Feldspar. For example, the global automotive industry saw a considerable surge in 2023. The internationally recognized association of automobile manufacturers, Organisation Internationale des Constructeurs d'Automobiles (OICA), based in France, stated that the global vehicle production hit approximately 93546599 units, a considerable ascension from the 85016728 units generated the preceding year in 2022. Therefore, the burgeoning need for automotive vehicles propels the feldspar market forward.
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What Are the Key Trends Driving Feldspar Market Growth?
Prominent players in the feldspar market are giving priority to product quality enhancement and the development of eco-friendly sourcing strategies, in order to meet the ever-growing demand from sectors like ceramics, glass, and construction. 3D geospatial mapping technology, boasting high precision, provides accurate three-dimensional geographical portrayals. This allows for detailed visualisations with accuracy up to 5 centimetres. Techtree Innovation, a company based in South Korea that focusses on 3D geospatial visualisation products, announced the launch of their next-gen platform, AROUND, in January 2024. Techtree portrays AROUND as a highly precise, high-resolution 3D geospatial map platform that dramatically upgrades the quality and precision of current 3D mapping. Specifically catering to the transportation sector, this solution provides core 3D visualisation mapping data, encompassing collision and block placements. It can be utilized in simulations involving aircraft and self-driving vehicles.
How Is the Feldspar Market Segmented?
The feldspar market covered in this report is segmented -
1) By Type: Plagioclase, Potassium
2) By Mining Type: Underground, Surface Mining
Subsegments:
1) By Plagioclase: Albite, Anorthite, Oligoclase
2) By Potassium: Orthoclase, Microcline, Sanidine
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Which Companies Are Leading the Charge in Feldspar Market Innovation?
Major companies operating in the feldspar market include 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, 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
Which Regions Are Leading the Global Feldspar Market in Revenue?
Western Europe was the largest region in the feldspar market in 2024. The regions covered in the feldspar market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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