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Potassium Feldspar Market Size 2023-2030: Global Industrial Analysis, Market Share, Top Key Players

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According to the report published by Zion Market Research, the global Potassium Feldspar Market size was valued at USD 760.23 Million in 2022 and is predicted to reach USD 1,906.99 Million by the end of 2030. The market is expected to grow with a CAGR of 12.18% during the forecast period. The report analyzes the global Potassium Feldspar Market’s growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Potassium Feldspar Market industry.

Global Potassium Feldspar Market: Overview

Potassium feldspar refers to the aluminum silicates that comprise potassium minerals. Feldspars contain barium, potassium, calcium, and sodium. These are the collection of rock-forming aluminum tectosilicate minerals. Most common members of the feldspar group include alkali (potassium-sodium) feldspars and plagioclase (sodium-calcium) feldspars. Feldspars account for 41% of the Earth’s continental crust and 60% of the earth’s crust by weight. Feldspars crystallize as extrusive and intrusive igneous rocks from magma, and they are also present in different types of metamorphic rock. Rock formed wholly of calcic plagioclase feldspar is referred to as anorthosite. Feldspars are available in different types of sedimentary rocks. Potassium feldspar varies from a reddish-pink color to white, and it also shows cleavage in two directions.

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Global Potassium Feldspar Market: Growth Factors

The global potassium feldspar market is projected to reach $1098.3 million with a CAGR of 4.2 % during the forecast period. Such exponential growth can be attributed to the growing demand for potassium feldspar in the form of major raw materials in the manufacture of ceramic, floor tiles, kitchen fixtures, bathroom fixtures, and so on. Furthermore, the increasing demand for feldspar is expected to grow manifolds during the forecast period due to the emerging industrial applications like its high usage in the glass sector as a raw material in fillers or extenders, paint sector, and also as a welding rod coating material. The uptick in the requirement for glasses in the automotive and manufacturing sector is another significant factor driving the demand for potassium feldspar in the market globally.

In addition, there are wide-scale opportunities for potassium feldspar due to the growing initiatives and heavy investment, particularly from the manufacturing sector. Also, there was a sudden decline in the growth prospects due to the outbreak of the Covid-19 pandemic. But the constant developments in the supply chain export activities along with some other surging trends are further accelerating the market revenue exponentially. However, the growing research and development activities, along with exploration and ongoing investments in the feldspar sector, are further likely to propel the growth of the global potassium feldspar market.

Global Potassium Feldspar Market: Segmentation

The global potassium feldspar market can be segmented into end-user, application, type, and region.

By type, the market can be segmented into microline, sanidine, orthoclase, and others. The orthoclase segment accounts for the largest share in the global potassium feldspar market. It sweeps around 36.7% market share and is likely to grow with a considerable CAGR of 5.3 % during the forecast period as ceramics and glasses are manufactured with the help of orthoclase.

By application, the market can be segmented into abrasives, welding, enamel glazes, porcelain, ceramic glasses, fillers, and extenders. The ceramic glasses segment accounts for the largest share in the global potassium feldspar market. The growing requirement for tiles and faucets helps in a 7 to 8% spike in the construction sector. Potassium feldspar is widely utilized as raw material for glass manufacturing. It is a kind of fluxing agent that assists in lowering the viscosity of glass. Also, glass is widely adopted in making windows, doors, buildings, and other infrastructure. Thereby, the constantly growing development and production in the glass sector is likely to increase the consumption of potassium feldspar globally.

By end-users, the market can be segmented into medical, electronic appliances, automotive, building & construction, and others.

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Global Potassium Feldspar Market: Regional analysis

Asia Pacific accounts for the largest share in the global potassium feldspar market due to the constantly growing demand from end-users like automotive, building, construction, and others industries. The region is witnessing infrastructure revamping activities along with several growing public and private undertaken projects in the region.