The Feldspar by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Feldspar, 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.
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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The feldspar market covered in this report is segmented –
1) By Type: Plagioclase, Potassium
2) By Mining Type: Underground, Surface Mining
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.
The feldspar market report table of contents includes:
- Executive Summary
- Feldspar Market Characteristics
- Feldspar Market Trends And Strategies
- Feldspar Market – Macro Economic Scenario
- Global Feldspar Market Size and Growth
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- Global Feldspar Market Competitive Benchmarking
- Global Feldspar Market Competitive Dashboard
- Key Mergers And Acquisitions In Feldspar Market
- Feldspar Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- Imerys S.A.
- Sibelco
- Eczacibasi Group
- Quarzwerke GmbH
- The Quartz Corporation
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