The report titled “Global Andalusite Market Analysis and Forecast, 2019-2028” assesses the global and regional Market based on type, application, and region. A comprehensive report provides a detailed historical and future market size with a comprehensive market trend analysis. The market share analysis, innovations, and products offered by top companies, an overview of the competition, strategic imperatives, key end users, potential growth areas, and competition analysis for the target players evaluated in the global Andalusite market study.
Market Overview and Dynamics: The growing construction industry coupled with the soaring steel industry is fueling the demand for andalusite globally
The global andalusite market is estimated to gain moderate growth of nearly 5.5% in the coming years. Refractories are highly used in blast furnaces during the manufacture of steel due to their unique properties such as the ability to resist high thermal conductivity and temperature. Moreover, the phenomenal properties of andalusite such as low, volume stability, porosity, creep and chemical resistance, and high thermal shock along with the high level of purity make it appropriate for use in the manufacturing of refractories.
High usage of andalusite in refractories, growth, and expansion of the construction industry, and increasing demand for andalusite in the steel and iron industry are some of the key factors anticipated to fuel the demand for andalusite across the globe. Moreover, the increasing production of vehicles is anticipated to augment the demand for products such as steel, glass, aluminum, copper, and plastics, which, in turn, is expected to propel the demand for refractories and so the demand for andalusite.
Asia Pacific is dominating the global andalusite market in 2021 and is expected to maintain the same trend over the forecast period of 2022-2028. Steel is significant material utilized in shipbuilding and vehicle production as well as building and construction. In addition, China is the major producer of steel and the largest importer of andalusite after Germany. Moreover, in Europe, the market is estimated to gain significant growth owing to the growing construction industry in which refractories are used in producing cement.
Segmental Analysis
- 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.
Competition Analysis
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
- Refractories
- Foundry
- Kiln Furniture
- Others (Ceramics and Jewelry, etc.)
- By Region
- North India
- West & Central India
- South India
- East India
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