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.
The coronavirus epidemic has disturbed the supply chain of various
industries across the world. We recognize this 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.
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.
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.
Browse Summary of this Research Report with
Detailed Table of Content:
https://www.fortunebusinessinsights.com/enquiry/covid19-impact/nepheline-syenite-market-103434