Nepheline Syenite Market Global Analysis by 2027, Fortune Business Insights™
The global nepheline
syenite market size is expected to reach USD
87.6 million by 2027, exhibiting a CAGR of 1.3% during the forecast period. The
surge in ceramic manufacturing is expected to aid the healthy expansion of the
market owing to its wide-ranging applications in household, commercial and
industrial 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), and
Regional Forecast, 2020-2027” the market size stood at USD 79.7 million in
2019.
The coronavirus epidemic has disturbed the supply
chain of various industries across the world. We recognizethis unsettling health
adversity has harmfully impacted various sectors across the globe. Nevertheless,
rising support from governments and several companies can help in the fight
against this highly infectious virus. There are some industries that are
struggling and some are thriving. More or less, nearly every sector is
estimated to be impacted by this pandemic.
We are making endless efforts to uplift
businesses in this crucial need of the hour. Our expertise and experience can
offer enormous benefits to help regain during this global pandemic.
The report on
the nepheline syenite marketcontains:
·
Outstandingvisionsabout
the market
·
Efficientdata
with detailed research
·
Key
industry trends
·
Comprehensive
information about giant companies
Market Driver:
Rising
Cognizance about Nepheline’s Advantages to Boost Market
Nepheline
syenite reduces the melting temperature while reacting with quartz in a glass
furnace, making it rich in alumina. Thus, the growing utilization of nepheline
syenite owing to its advantages such as free from crystalline silica, and
higher content of potassium and sodium oxide will have a tremendous impact on
the market. The rising shift from feldspar to nepheline syenite due to its low
quantity consumption will spur opportunities for the market in the forthcoming
years. Also, nepheline syenite reduces energy consumption improves the quality
of the products, which, in turn, will increase its demand. The low refractive
index found in nepheline syenite can be used as transparent filler in paints,
coatings, adhesives, sealants, plastics, and rubber products, thus accelerating
its usage in the paint and coatings industry. The incorporation of nepheline
syenite in coatings offers flatting efficiency, improved pellet flow, optimum
particle shape, and easy mixing can further create lucrative business
opportunities for the market.
Market Restraint:
Disruption
in Supply chain will Limit Production During COVID-19
The enactment
of lockdown in various regions across the globe has destructively curbed the
production of nepheline syenite. The disruption in the supply chain due to the
new policies implemented by the government will cause severe damage to the
market in the near future. The lack of laborers in developed countries can also
act as an obstacle to the growth of the market. The halt in glass and ceramic
production will simultaneously diminish the demand of the market. Additionally,
the postponements in pre-produced orders, lack of capital management, and
manufacturing operations will further aggravate the development of the market
in the foreseeable future.
Regional Analysis
Heavy
Demand for Quality Glass to Enable Growth in North America
The market in North America is expected
to grow rapidly during the forecast period owing to the demand for high-quality
glass products from various industries. The US is the key importer and consumer
of nepheline syenite in the
world. The growing adoption of the quality alumina source for glass
manufacturing in Canada and the US will enable speedy expansion of the market
in the region. Asia Pacific is expected to witness a substantial growth rate
during the forecast period due to the rising production of glass and ceramics
in China, India, and Southeast Asian countries. China is predicted to hold a
major share in the market owing to the high production and consumption of glass
and ceramic in the region.
Key Development:
January 2018: Unimin
Corporation, a wholly-owned subsidiary of global industrial minerals company
SCR-Sibelco of Belgium announced a multi-million investment to modernize its
nepheline facility in Canada. The new development will improve mining &
manufacturing operations in the Kawartha Lakes Region and reduce environmental
impact.
The Report Lists the Main Companies in
the Nepheline Syenite Market:
·
FINETON
Industrial Minerals Limited (China)
·
PhosAgro Group of
Companies (Russia)
·
Anglo Pacific
Minerals Ltd. (UK)
·
RUSAL PLC (Russia)
Information Source:
https://www.fortunebusinessinsights.com/nepheline-syenite-market-103434
About Us:
Fortune Business Insights™ offers expert
corporate analysis and accurate data, helping organizations of all sizes make
timely decisions. We tailor innovative solutions for our clients, assisting
them to address challenges distinct to their businesses. Our goal is to empower
our clients with holistic market intelligence, giving a granular overview of
the market they are operating in.
Contact Us:
Fortune
Business Insights™ Pvt. Ltd.
308,
Supreme Headquarters,
Survey
No. 36, Baner,
Pune-Bangalore
Highway,
Pune
- 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC
: +91 744 740 1245
Email: sales@fortunebusinessinsights.com
Connect us via Social
Media Channels:
Facebook:https://www.facebook.com/FortuneBusinessInsightsPvtLtd
Twitter:https://twitter.com/FBInsightPvtLtd?s=20
LinkedIn:https://www.linkedin.com/company/fortune-business-insights/
Comments
Post a Comment