Pune, Aug. 11, 2020 (GLOBE NEWSWIRE) -- 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 & COVID-19 Impact 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.
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The report on the nepheline syenite market contains:
- Outstanding visions about the market
- Efficient data 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 this 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, it 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 this 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.
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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 investments to modernize its nepheline facility in Canada. The new development will improve mining & manufacturing operations in the Kawartha Lakes Region and reduce environmental impact.
List of the Leading Companies Operating in the Nepheline Syenite Market are:
- SCR-Sibelco N.V. (Belgium)
- FINETON Industrial Minerals Limited (China)
- The 3M Company (USA)
- PhosAgro Group of Companies (Russia)
- Anglo Pacific Minerals Ltd. (UK)
- RUSAL PLC (Russia)
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Table of Content
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Market Trends
- Key Insights
- Key Emerging Trends
- Global Production Overview
- Insights on Regulatory Scenario
- Trade Flow Analysis
- Global Nepheline Syenite Market Analysis, Insights and Forecast – By Application, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Application
- Ceramic Manufacturing
- Glass Manufacturing
- Functional Fillers
- Adhesive & Sealants
- Paint & Coatings
- Plastic & Rubber
- Others
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