Pune, India, February,2019/MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Potassium Feldspars Market.
Potassium feldspars are aluminum silicates which contain potassium minerals. The global potassium feldspar market is anticipated to showcase significant growth rate over the forecast period of 2014-2022, asserts Market Research Future (MRFR) in a detailed study.
The market growth for potassium feldspar is triggered by the ceramics and glass industries which generate the majority of the demand for the product. More than 70% of the potassium feldspar is used in the glass making industry which includes glass containers, specialty glass, flat glass, and fiberglass for home insulation. Potassium feldspars are used in glassmaking owing to their alumina and calcium content which impart increased physical and chemical resistance to glass products. Heightened demand for glass food containers encouraged by consumer demand and government initiatives towards the use of environmentally friendly and recyclable packaging for food & beverage would potentially augment the potassium feldspar consumption by glass industry and aid in market expansion.
The ceramics industry too is a key end-user industry for potassium feldspar. With the revival of the global economy, new commercial and residential activities are expected to increase creating strong demand for ceramics, fiberglass, and glass, and thus potassium feldspar. Continued growth within the construction industry is expected to boost the global potassium feldspar market. The trend of residential replacement along with the ideas of using thinner, stronger ceramic sheets is likely to strengthen demand for potassium industry.
Rapid industrialization across the globe has provided a major boost the global potassium feldspar market due to increased glass and ceramics demand. Other areas where potassium feldspar finds application include paints, mild abrasives, latex foam, rod aggregate, urethane, and others. They are also used in sanitary wares as a vitreous agent and fillers and glazes as a flux in ceramic bodies. Besides, some varieties of potassium feldspar have significant value as gemstones which also contributes to the growth of the market.
In contrast, the increasing trend of using non-glass products might reduce demand within the glass industry which is likely to undermine the growth of the global potassium feldspar market. Additionally, a considerable increase in glass recycling could hamper the growth of the market.
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The global potassium feldspar market has been segmented on the basis of application which comprises glass, abrasives, ceramic & tiles, enamel frits & glazes, and others.
By region, the global potassium feldspar market has been segmented into Asia Pacific, North America, Europe, and the Rest of the World (RoW).
Europe accounts for the foremost share of the global potassium feldspar market. The high production rate of potassium feldspar from Italy, the second largest producer of potassium feldspar after Turkey, can be credited for the expansion of Europe market. France and Spain are among the other major potassium feldspar mining and producing nation.
APAC is a significant market for potassium feldspar. End-user industries such as glass and ceramic in the region generate substantial demand for potassium feldspar. China is the largest producer of potassium feldspar in the region. India, Thailand, and Indonesia are among other key contributors.
North America, led by the US is another important growth pocket for potassium feldspar. The production of potassium feldspar increased since 2009 and had been increasing ever since then.
The noteworthy players in the global potassium feldspars market include Gottfried Feldspat GmbH (Germany), CVC Mining Company (India), Sibelco NV (Europe), Quartz Corporation (Europe), Purin Mineral Group Company Ltd. (Thailand), LB MINERALS, Ltd. (Europe), and Minerali Industriali S.r.l.(Europe).
In July 2018, Pioneer Resources Ltd., a company focused on the exploration of gold, nickel, and lithium, announced its drilling results above the Sinclair Zone Caesium Deposit, the company’s 100% held project site, located in Western Australia. They confirmed a market-significant volume of potassium feldspar in the region and further indicated that several potassium feldspar reserves present at the location.