Global andalusite market is expected to witness substantial growth over the forecast period owing to increasing demand from the glass and steel industries. The product bears the chemical formula Al2SiO5, and is a mineral under the category aluminum nesosilicate.
The product is employed in various applications including the manufacturing steel, glass, aluminum and cement industries, wherein it is used as lining for incinerators, furnaces, kilns and reactors. The product is predominantly used as refractory material, on account of its high resistance heat. On account of growth in the refractory industry, demand for andalusite is expected to rise; particularly in Asia Pacific over the forecast period.
In depth research report on Andalusite Market:
In terms of geography, the industry can be segmented into North America, Latin America, MEA (Middle East and Africa), Asia Pacific and Europe. Asia Pacific is the largest regional market of andalusite, on account of its increasing use in developing economies, including China, India, Vietnam, Indonesia, Philippines and Turkey.
Over the past few years, industrial growth particularly in developing countries including India and China is high, compared to other economies; and this has resulted in growth in the refractory industry. This in turn is expected to augment demand over the next seven years.
Similarly, Latin America has been witnessing tremendous industrial growth over the past few years. Growing glass and steel industry in the region particularly in Brazil will have a positive impact on the market over the forecast period.
As of 2014, North America and Europe have been witnessing sluggish growth in the andalusite market, on account of slow industrial activity in the regions. However, growth in the construction in U.S. is expected to fuel steel and glass demand which in turn will augment need for the product over the next six years.
Major companies present in this industry include Rhino Minerals Pty Ltd (IMERYS), Andalusite Resources, Picobello Andalucita, Damrec (IMERYS), Samrec Pty ltd (IMERYS) and Andalucita S.A.
Damrec is the one of the largest companies engaged in this industry and has expanded its business to China, Peru, South Africa and France. Andalusite Resources, which is a comparatively new player in the industry has recently declared its plans to increase production levels to meet growing demand.
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