The Global Andalusite Market Analysis By Rationalstat
The report entitled “Global Andalusite Market Research and Forecast 2019-2028” examines the market in both regional and global terms according to the type, application, and region. This comprehensive report offers thorough historical and forecast market size along with a detailed analysis of market trends. Market share analysis, the latest innovations and products provided by the top companies, an overview of the competition, key strategic essentials, key users, growth potential regions, competitive analysis of the key players that are analyzed within the international Andalusite market research.
Global Andalusite Market Market And Its Dynamics
The expanding construction industry, coupled with the rising steel industry is fueling demand for andalusite around the globe. The market for andalusite around the globe is expected to experience moderate growth of around 5.5% in the next years. Refractories are extensively utilized in blast furnaces during the production of steel because of their distinctive properties, including resistance to high thermal conductivity and temperatures. Additionally, the amazing properties of andalusite like volume stability, low porosity, creep, chemical resistance, high thermal shock and the purity of its high levels allow it to be used for the production of refractories.
The high use of andalusite in refractories, the growth and expansion of the construction industry. The growing demand for andalusite within the iron and steel industries is just one of the major elements that will drive demand for andalusite all over the globe. Furthermore, the rising production of automobiles is expected to increase demand for items like glass, steel, aluminum copper, plastics, and other materials which, in turn, will increase the market for refractories, and consequently also the need for andalusite.
Asia Pacific is dominating the global andalusite market in 2021 and is anticipated to continue this trend throughout the 2022-2028 forecast period. Steel is an important material used in the production of vehicles and shipbuilding, construction, and building. Furthermore, China is the major producer of steel and the largest importer of andalusite after Germany. Furthermore, the market in Europe is expected to be growing significantly due to the increasing construction industry where Refractories are utilized in the production of cement.
- On the basis of application, the refractory segment is dominating the global andalusite market. Andalusite is used in the linings of kilns and boilers to protect equipment from high temperatures.
- Based on region, Asia Pacific is expected to dominate the global andalusite market. In 2020, China, India, and Japan accounted for 13%, 5%, and 4% of total imports of andalusite respectively.
The global andalusite market is fragmented in nature with the presence of various players in the market. These players adopt various strategies including mergers and acquisitions, partnerships and collaborations which directly results in propelling the growth of the global andalusite market.
- In August 2019, Triumph Gold Corp. announced that Rio Tinto Exploration Canada Inc. (RTEC) has entered an option agreement to obtain a 100% interest in Triumph Gold’s Andalusite Peak properly located in northwest British Columbia.
Some of the prominent players operating in the global andalusite market include Andalucita S.A, LKAB Minerals, Andalusite Resources, Resco Products, Recursos Latinos S.A, Rhino Minerals Pty Ltd, Samrec Pty Ltd, Damrec, Picobello Andalucita, Imerys Minerals Refractory Glomel, and Latin Resources Ltd among others.
RationalStat has segmented the global andalusite market on the basis of type, application, and region.
- By Type
- Pink Andalusite
- Gray Andalusite
- Yellow Andalusite
- Green Andalusite
- Violet Andalusite
- By Application
- Kiln Furniture
- Others (Ceramics and Jewelry, etc.)
- By Region
- North India
- West & Central India
- South India
- East India
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About RationalStat LLC
RationalStat is an end-to-end US-based market intelligence and consulting company that provides comprehensive market research reports along with customized strategy and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
RationalStat has strategic partnerships with leading data analytics and consumer research companies to cater to the client’s needs. Additional services offered by the company include consumer research, country reports, risk reports, valuations and advisory, financial research, due diligence, procurement and supply chain research, data analytics, and analytical dashboards.
Dorinda Erwin, Content and Press Manager