Feldspar Market

The global feldspar market is projected to show positive growth in both volume and value terms from 2022 to 2030. Consumption decreased in 2022 after two years of growth, but is expected to increase steadily over the forecast period. Turkey, Spain, and India are the top consumers of feldspar, with Bangladesh showing the highest growth rate. Production also decreased in 2022, with Turkey leading in production volume. Imports and exports saw fluctuations but overall exhibited growth trends, with Turkey and India dominating exports and imports, respectively. Prices varied by country, with India having the highest export price. Overall, the feldspar market is anticipated to continue growing in the near future.

Market Forecast

Driven by increasing demand for feldspar worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to accelerate, expanding with an anticipated CAGR of +3.2% for the period from 2022 to 2030, which is projected to bring the market volume to 43M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.2% for the period from 2022 to 2030, which is projected to bring the market value to $3.8B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Feldspar

In 2022, consumption of feldspar decreased by -2.4% to 33M tons for the first time since 2019, thus ending a two-year rising trend. The total consumption volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded in certain years. Global consumption peaked at 34M tons in 2021, and then fell slightly in the following year.

The global feldspar market size expanded to $2.5B in 2022, growing by 2.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. Global consumption peaked in 2022 and is expected to retain growth in the near future.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Italy (6.2M tons), Spain (4.4M tons) and India (4M tons), with a combined 44% share of global consumption. Turkey, Iran, China, Bangladesh, Poland, Russia, the United States, Egypt and Ukraine lagged somewhat behind, together accounting for a further 36%.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Bangladesh (with a CAGR of +19.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($294M), Italy ($255M) and Spain ($244M) constituted the countries with the highest levels of market value in 2022, together accounting for 31% of the global market.

India, with a CAGR of +17.2%, recorded the highest growth rate of market size in terms of the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of feldspar per capita consumption in 2022 were Italy (105 kg per person), Spain (93 kg per person) and Turkey (33 kg per person).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by Bangladesh (with a CAGR of +18.0%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Feldspar

In 2022, after two years of growth, there was decline in production of feldspar, when its volume decreased by -1.4% to 33M tons. The total output volume increased at an average annual rate of +1.8% from 2012 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2013 with an increase of 15%. Global production peaked at 34M tons in 2021, and then fell modestly in the following year.

In value terms, feldspar production fell to $2.4B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.2% over the period from 2012 to 2022; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2020 with an increase of 15% against the previous year. Over the period under review, global production reached the peak level at $2.5B in 2021, and then fell slightly in the following year.

Production By Country

Turkey (10M tons) constituted the country with the largest volume of feldspar production, comprising approx. 31% of total volume. Moreover, feldspar production in Turkey exceeded the figures recorded by the second-largest producer, India (4.7M tons), twofold. Italy (4M tons) ranked third in terms of total production with a 12% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in Turkey was relatively modest. In the other countries, the average annual rates were as follows: India (+12.4% per year) and Italy (-1.6% per year).

Imports

World Imports of Feldspar

In 2022, approx. 12M tons of feldspar were imported worldwide; dropping by -8% against 2021 figures. Overall, total imports indicated a remarkable increase from 2012 to 2022: its volume increased at an average annual rate of +5.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +24.0% against 2020 indices. The most prominent rate of growth was recorded in 2021 when imports increased by 35%. As a result, imports reached the peak of 13M tons, and then fell in the following year.

In value terms, feldspar imports totaled $731M in 2022. In general, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +6.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +48.1% against 2020 indices. The growth pace was the most rapid in 2021 when imports increased by 44%. Global imports peaked in 2022 and are expected to retain growth in the near future.

Imports By Country

In 2022, Spain (3.9M tons) and Italy (2.7M tons) represented the key importers of feldsparin the world, together reaching approx. 57% of total imports. It was distantly followed by Bangladesh (1,136K tons) and Russia (660K tons), together mixing up a 15% share of total imports. Poland (389K tons), the United States (276K tons), Taiwan (Chinese) (260K tons), Indonesia (240K tons), Bulgaria (192K tons), Germany (189K tons) and Vietnam (176K tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by the United States (with a CAGR of +67.0%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, Spain ($229M), Italy ($149M) and Bangladesh ($38M) appeared to be the countries with the highest levels of imports in 2022, with a combined 57% share of global imports. Russia, Poland, Indonesia, the United States, Vietnam, Germany, Bulgaria and Taiwan (Chinese) lagged somewhat behind, together comprising a further 18%.

In terms of the main importing countries, the United States, with a CAGR of +47.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

The average feldspar import price stood at $63 per ton in 2022, surging by 12% against the previous year. Over the period under review, the import price recorded a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Vietnam ($96 per ton), while Taiwan (Chinese) ($30 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Spain (+4.0%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Feldspar

Global feldspar exports shrank to 12M tons in 2022, reducing by -5.5% against 2021 figures. Overall, total exports indicated a strong increase from 2012 to 2022: its volume increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +25.8% against 2020 indices. The pace of growth was the most pronounced in 2021 with an increase of 33% against the previous year. As a result, the exports attained the peak of 13M tons, and then contracted in the following year.

In value terms, feldspar exports totaled $691M in 2022. Over the period under review, total exports indicated a resilient increase from 2012 to 2022: its value increased at an average annual rate of +7.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +93.6% against 2016 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 33%. The global exports peaked in 2022 and are likely to continue growth in years to come.

Exports By Country

Turkey prevails in exports structure, accounting for 7.5M tons, which was near 62% of total exports in 2022. Thailand (1,029K tons) ranks second in terms of the total exports with an 8.5% share, followed by India (5.7%). Morocco (539K tons), Italy (472K tons), China (366K tons), the Czech Republic (263K tons) and France (206K tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +6.2% from 2012 to 2022. At the same time, Morocco (+67.8%), Italy (+7.9%), the Czech Republic (+4.4%), Thailand (+4.1%) and India (+2.0%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in the world, with a CAGR of +67.8% from 2012-2022. France experienced a relatively flat trend pattern. By contrast, China (-5.7%) illustrated a downward trend over the same period. Turkey (+6.3 p.p.) and Morocco (+4.5 p.p.) significantly strengthened its position in terms of the global exports, while India and China saw its share reduced by -2% and -5.9% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($322M) remains the largest feldspar supplier worldwide, comprising 47% of global exports. The second position in the ranking was held by India ($53M), with a 7.7% share of global exports. It was followed by Thailand, with a 5.2% share.

From 2012 to 2022, the average annual growth rate of value in Turkey amounted to +9.3%. In the other countries, the average annual rates were as follows: India (+4.4% per year) and Thailand (+6.6% per year).

Export Prices By Country

In 2022, the average feldspar export price amounted to $57 per ton, increasing by 16% against the previous year. Over the last decade, it increased at an average annual rate of +2.6%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was India ($77 per ton), while Thailand ($35 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+10.9%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform