Pune, India -- (SBWIRE) -- 11/21/2017 -- Key Players for MEA Potassium Feldspars Market:
- United Mining Investments Co.
- The Quartz Corp, Sisecam Group
- Kaolin Industrial Minerals San. And Tic. Inc.
- Polat Maden Sanayi Ve Ticaret A.S.
- Imerys Seramik Hammaddeleri San.Ve Tic.A.?.
- Kalemaden Endustriyel Hammaddeler San.Ve Tic.A.S.
- Gensa Kimya Sanayi Ve Ticaret A.S.
Market Synopsis of MEA Potassium Feldspars Market:
Market Scenario:
Potassium feldspar is a mineral compounds present in mineral form along with other feldspar minerals such as sodium feldspar. It is identified by a unique chemical registry CAS number- 068476-25-5. It consists of alumina, and alkali as a prominent constituents. Moreover, the prominent end use of Potassium Feldspars include glass industry, ceramic industry, and enamel and frits.
In terms of volume, Middle East potassium Feldspar Market is estimated to be pegged at 850.5 '000 tonnes and anticipated expand at a CAGR of 3.9% over the forecast period to reach 1069.9 '000 tonnes by 2022 end. Moreover, in terms of value the market is slated to be valued at US$ 149.3 Million in 2016 end and is anticipated to expand at a CAGR of 4.2% over the forecast period. The market is anticipated to be valued at US$ 191 Million by 2022 end. The Potassium Feldspar Market is estimated to witness significant growth over the forecast period owing to increasing use of Potassium Feldspars in construction applications, growth in automotive sector growth along with automotive glass manufacturing, increasing demand from abrasives and electrode manufacturers, and ceramic industry growth. Among these factors, the increasing use in automotive glass manufacturing is the most prominent factor driving the market demand. The increasing automotive glass manufacturing along with growing automotive production in Middle East especially in Kingdom of Saudi Arabia, and Egypt is anticipated to bolster potassium feldspar consumption in the region.
However, the presence of alternatives in range of potassium feldspar applications namely, sanitary ware, abrasives, ceramic ware, and fibers & glasses is estimated to be major restraining factor for the MEA market. For instance having similar strength and other physical properties, sodium feldspar is a suitable alternative for potassium feldspar in various application. Additionally, relatively higher production cost involved is also limiting market growth.
The Hottest Trend in the Market:
Feldspar is one of the most abundant minerals found on the earth. Sodium and potassium types of feldspar are found in such deposits. Potassium feldspar is found smaller quantity as compared to sodium feldspar. It is found as clear or porcelaneous, hard crystal form. The potassium feldspar owing to its characteristics such as hardness and stability at higher temperature finds application in applications namely, abrasives, refractory, glass manufacturing and ceramic industry. Moreover, it is available in different grades in market, from mesh size 20 to 600. The higher mesh high quality K-feldspar is costlier and finds application in high end applications such as ceramics and tiles, and frits and glazes.
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The overall Middle East K-Feldspar Market is estimated to be driven by major driving factors which include increasing application in Middle East Construction. Potassium feldspar is used for insulation, flooring tiles, and sanitary ware in building & construction industry. With increasing availability in the market, the penetration in the industry is increasing. Along with this, the overall construction industry in Middle East is projected to grow. Thus, this in turn is anticipated to drive the market over the forecast period. Additionally, the growing demand from automotive glass manufacturing coupled with the increasing automobile production in the region will further boost market demand in near future.
It is one of the key element for the abrasives manufacturing. With increasing manufacturing activities, the abrasives consumption is bound to increase in the region. Moreover, it is used for the automotive glass manufacturing. The production of automotive glass is increasing with increasing automotive production which in turn will boost the market demand over the forecast period.
The market growth is restrained by due availability of suitable alternatives in the market. Low cost suitable alternatives are available in the market for various applications. For instance, nepheline syenite is a renowned alternative to feldspar in glass and ceramic industries. In ceramic industry, nepheline Syenite provides alkalies which that are used as a flux. Moreover, in glass industry it provides aluminium oxide that imparts similar benefits as feldspar.
Regional Analysis of Global Potassium Feldspars Market:
Turkey is the largest producer and consumer of Potassium Feldspars in MEA market. Turkey Potassium Feldspars is estimated to retain its dominance in overall market in near future. Turkey is followed by GCC market in terms of growth rate. The high growth rate of GCC Potassium Feldspars market is attributed to increasing automotive production of countries such as Saudi Arabia and Qatar. Moreover Israel and rest of Middle East markets are estimated to witness relatively low CAGR over the forecast period.
Key Findings:
- Turkey is the major consumer and producer of the MEA Potassium Feldspars market and is estimated to account for more 70% consumption in overall MEA feldspar consumption.
- The opportunity for high quality feldspar (625 mesh) is increasing in MEA market owing to increasing penetration in high-end application markets.
- C.C. country market is anticipated to be the fastest growing market after Turkey growing with a CAGR of 3.2% over the forecast period.
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