Feldspar and nepheline syenite are being increasingly adopted in the construction industry owing to their varied advantages such as toughness, durability, resistance to chemical corrosion, and low viscosity. Hence, the increased products demand from the construction industry is estimated to help in the expansion of the global feldspar and nepheline syenite market in the forthcoming years.
The global feldspar and nepheline syenite market is prognosticated to gain a valuation of US$ 5.67 Bn by 2031, states an assessment by Transparency Market Research (TMR). Furthermore, the TMR study notes that the feldspar and nepheline syenite market is expected to register growth at a CAGR of 4.35% during the forecast period of 2021 to 2031.
Surge in Demand for High Quality Flooring Materials Drives Sales Opportunities in Market
Feldspar finds application in floor tiles owing to its different properties such as toughness and strength. Furthermore, nepheline syenite is being used in the construction industry owing to its high strength and outstanding weather-resistant properties, notes a TMR assessment on the feldspar and nepheline syenite market.
Due to increasing population around the world, the need for residential as well as commercial buildings is being rising globally. Hence, there has been increase in the number of building & construction projects. This factor is creating rise in the demand for superior quality flooring material, which in turn, is fueling the sales growth in the global feldspar and nepheline syenite market.
Expansion of Glass Industry Propels Feldspar and Nepheline Syenite Market
In the glass industry, feldspar and nepheline syenite are being utilized as raw materials. Hence, rise in the demand for glass for varied purposes is boosting the sales opportunities in the feldspar & nepheline syenite market.
Some of the key companies operating in the global feldspar and nepheline syenite market include Covia Holdings LLC., Anglo Pacific Minerals, Esan, The QUARTZ Corp, Pacer Minerals, LLC, Imerys, I-Minerals Inc., Minerali Industriali S.r.l., ArrMaz, and Sibelco.