The global nephelinesyenite market size is expected to reach USD87.6 million by 2027, exhibiting a CAGR of 1.3% during the forecast period. Thesurge in ceramic manufacturing is expected to aid the healthy expansion of themarket owing to its wide-ranging applications in household, commercial andindustrial sectors, states Fortune Business Insights in a report, titled“Nepheline Syenite Market Size, Share & Industry Analysis, By Application(Ceramic Manufacturing, Glass Manufacturing, Functional Fillers {Paint &Coatings, Adhesive & Sealants, and Plastic & Rubber}, and Others), andRegional Forecast, 2020-2027” the market size stood at USD 79.7 million in2019.
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The report onthe nepheline syenite marketcontains:
· Outstandingvisionsaboutthe market
· Efficientdatawith detailed research
· Keyindustry trends
· Comprehensiveinformation about giant companies
Market Driver:
RisingCognizance about Nepheline’s Advantages to Boost Market
Nephelinesyenite reduces the melting temperature while reacting with quartz in a glassfurnace, making it rich in alumina. Thus, the growing utilization of nephelinesyenite owing to its advantages such as free from crystalline silica, andhigher content of potassium and sodium oxide will have a tremendous impact onthe market. The rising shift from feldspar to nepheline syenite due to its lowquantity consumption will spur opportunities for the market in the forthcomingyears. Also, nepheline syenite reduces energy consumption improves the qualityof the products, which, in turn, will increase its demand. The low refractiveindex found in nepheline syenite can be used as transparent filler in paints,coatings, adhesives, sealants, plastics, and rubber products, thus acceleratingits usage in the paint and coatings industry. The incorporation of nephelinesyenite in coatings offers flatting efficiency, improved pellet flow, optimumparticle shape, and easy mixing can further create lucrative businessopportunities for the market.
Market Restraint:
Disruptionin Supply chain will Limit Production During COVID-19
The enactmentof lockdown in various regions across the globe has destructively curbed theproduction of nepheline syenite. The disruption in the supply chain due to thenew policies implemented by the government will cause severe damage to themarket in the near future. The lack of laborers in developed countries can alsoact as an obstacle to the growth of the market. The halt in glass and ceramicproduction will simultaneously diminish the demand of the market. Additionally,the postponements in pre-produced orders, lack of capital management, andmanufacturing operations will further aggravate the development of the marketin the foreseeable future.
Regional Analysis
HeavyDemand for Quality Glass to Enable Growth in North America
The market in North America is expectedto grow rapidly during the forecast period owing to the demand for high-qualityglass products from various industries. The US is the key importer and consumerof nepheline syenite in theworld. The growing adoption of the quality alumina source for glassmanufacturing in Canada and the US will enable speedy expansion of the marketin the region. Asia Pacific is expected to witness a substantial growth rateduring the forecast period due to the rising production of glass and ceramicsin China, India, and Southeast Asian countries. China is predicted to hold amajor share in the market owing to the high production and consumption of glassand ceramic in the region.
Key Development:
January 2018: UniminCorporation, a wholly-owned subsidiary of global industrial minerals companySCR-Sibelco of Belgium announced a multi-million investment to modernize itsnepheline facility in Canada. The new development will improve mining &manufacturing operations in the Kawartha Lakes Region and reduce environmentalimpact.
The Report Lists the Main Companies inthe Nepheline Syenite Market:
· FINETONIndustrial Minerals Limited (China)
· PhosAgro Group ofCompanies (Russia)
· Anglo PacificMinerals Ltd. (UK)
· RUSAL PLC (Russia)
Information Source:
https://www.fortunebusinessinsights.com/nepheline-syenite-market-103434
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