USD 1.28 billion
Report ID:
SQMIG15J2024 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|Tables:
61
|Figures:
75
Nepheline Syenite Market size was valued at USD 1.34 Billion in 2023 and is poised to grow from USD 1.4 Billion in 2024 to USD 1.99 Billion by 2032, growing at a CAGR of 4.50% during the forecast period (2025-2032).
Nepheline syenite is an igneous rock composed of nepheline, microcline (potassium feldspar), and albite (sodium feldspar), as well as mica, magnetite, and hornblende. It is an important raw material in the glass and ceramic industries because it lowers the melting point of the mix, allowing for faster melting, higher productivity, and fuel savings. Refractories, glass manufacturing, ceramics, and pigments and fillers are among its industrial applications. In these applications, nepheline syenite is ground and dark minerals are separated, resulting in a feldspar and nepheline-dominated mixture. This mixture contains more alkali and aluminium than pegmatitic felspars while containing less iron, making it an excellent raw material.
The emergence of the global pandemic affected demand for nepheline syenite from various end-use industries, which faced supply chain disruption, cash flow constraints, and other issues. Many glass and ceramic manufacturers were forced to halt production due to a labour shortage. Increased demand for glass and ceramics across various end-use industries, as well as increased applications of nepheline syenite in end-use products such as refractories, pigments & fillers, construction facades, and countertops, are expected to drive market growth during the forecast period.
US Nepheline Syenite Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 1.28 billion
Largest Segment
Glass Manufacturing
Fastest Growth
Ceramic Manufacturing
Growth Rate
4.50% CAGR
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Nepheline Syenite Market is segmented on the basis of product type, application, and region. Based on product type, nepheline syenite market is segmented into nepheline syenite, nepheline monzonite, and nephelinites. In terms of application, the Nepheline Syenite Market is grouped into ceramic manufacturing, glass manufacturing, and functional fillers. Based on region, the Nepheline Syenite Market is widespread into North America, Europe, Asia-Pacific, Latin America, and MEA.
Nepheline Syenite Market Analysis by Product Type
The nepheline syenite segment accounted for the largest share of the global nepheline market in 2022 and is expected to grow at a CAGR of 2.4% during the forecast period. This is due to increased demand for nepheline syenite in applications such as glass, ceramic, coatings, plastic, and rubber.
Nepheline Syenite Market Analysis by Application
Based on application, nepheline syenite is widely used in the glass industry to prepare container glass, flat glass, fiberglass, and other glass products. It supplies alumina and alkali to the glass manufacturing process. The glass manufacturing segment held the largest share in 2022 owing to its low silica content and favourable sodium oxide to potassium oxide ratio. It also reduces the viscosity of glass batches and improves workability. Because of these advantages, glass manufacturers are using this mineral as a substitute for feldspar.
On the other side, the ceramic manufacturing sector is predicted to be the fastest-growing segment during the forecast period. Ceramics have a wide range of applications in the home, commercial, and industrial sectors. Ceramic tiles and sanitary wares account for the majority of the market. The demand for the ceramic products is increasing due to their excellent physical and chemical properties. As a result of the growing ceramic industry, demand for this syenite is expected to rise during the forecast period.
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The global nepheline syenite market was dominated by North America. The United States is the world's largest importer as well as consumer. The growing demand for high-quality glass products from the food and beverage, pharmaceutical, and automotive industries prompted manufacturers to switch to high-quality alumina sources for glass production. As a result, demand for nepheline syenite in the United States is increasing. Canada is one of the world's largest producers and exporters of this product. Over time, the majority of the produced quantity has been exported to the United States.
Asia Pacific is expected to grow at the fastest rate in the global market in future. The rising production of glass and ceramics in China, India, and Southeast Asian countries is a major driver of market expansion. China is the largest consumer and producer of nepheline syenite in Asia Pacific. China dominates the global glass and ceramic manufacturing industries. As a result, China is expected to lead the Asia Pacific market during the forecast period. Increasing construction activity in Asia Pacific has resulted in increased demand for ceramics and functional fillers, which is expected to aid market expansion.
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Nepheline Syenite Market Driver
Multiple Uses in Plastics, Paints, and other Products to Augment Growth
Nepheline Syenite Market Restraint
Recycling of Used Glass Products May Hamper Growth
Most glass products are recycled in order to achieve sustainable goals and reduce energy consumption costs. Glass packaging can be recycled indefinitely without affecting the quality. According to The European Container Glass Federation, the European Union's glass packaging recycling rate is around 74%. The glass industry is the world's largest consumer. As a result, the recycling of used glass products is expected to create challenges for this market during the forecast period.
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The global nepheline syenite market is fragmented in nature owing to the presence of multiple vendors. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Efficient capacity utilisation is critical for businesses to gain a competitive advantage in the global market. SCR-Sibelco N.V. (Sibelco Nordic), based in Belgium, is the world's leading producer through its subsidiaries. Different grades are available for various applications in ceramics, and fillers in paints, glass, coatings, adhesives, plastics, and other products. Furthermore, the company is investing in its mining operations on time in order to modernise the facility and achieve long-term environmental goals. Furthermore, entering long-term contracts and collaborating with distributors are two strategies used by market players.
Nepheline Syenite Market Top Player's Company Profiles
Nepheline Syenite Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our nepheline syenite market analysis, in terms of product type, the nepheline syenite segment held larger market share owing to high application. And in terms of application, the glass industry boosts the market expansion due to its high demand. The increased use of nepheline syenite in end-use products such as refractories, pigments & fillers, construction facades, and countertops is also expected to benefit the global nepheline syenite market. The expansion of end-use industries in emerging economies is driving market growth. The recycling of glass is the challenging factor for the market expansion. North America held the dominant share while Asia Pacific is anticipated to register the fastest growth rate during the forecast period.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 1.28 billion |
Market size value in 2031 | USD 1.90 billion |
Growth Rate | 4.50% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
|
Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Nepheline Syenite Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Nepheline Syenite Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Nepheline Syenite Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
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Report ID: SQMIG15J2024
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