Johannesburg, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Data Bridge Market Research completed a qualitative study titled "Andalusite Market" with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. The Andalusite report acts as a confirmed source of information to offer a telescopic view of the current market trends, situations, opportunities, and status. A genius team along with project managers serves the clients on every strategic aspect including product development, key areas of development, application modeling, use of technologies, acquisition strategies, and exploring niche growth opportunities and new markets. Moreover, this Andalusite market report also provides strategic profiling of key players in the Andalusite industry, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
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Data Bridge Market Research analyses that the andalusite glass market is expected to undergo a CAGR of 7.80% during the forecast period. This indicates that the market value, which was USD 214.84 million in 2021, would rocket up to USD 391.80 million by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
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Andalusite is a rock-forming aluminum mineral that belongs to the sillimanite family. It is a polymorph of two minerals, sillimanite and kyanite, found in metamorphic rocks. The chemical composition of andalusite is similar to kyanite and sillimanite. It is formed under low and high temperatures and converts to sillimanite or kyanite at different temperature-pressure regimes. Andalusite is formed by regional metamorphism of shale. It is found in schist and gneiss at convergent plate boundaries, where rocks are exposed to the low pressure and high temperature.
The andalusite market has witnessed substantial growth due to factors such as increasing demand for cast metal products from the automotive industry. According to the Foundry Informatics Centre, the global casting manufacture augmented by approximately 5.3% from 2017 to 2018, which is expected to increase the demand for andalusite. The “refractories” is the fastest growing application segment due to the growing demand of refractories in the steel industry during forecast period.
Fundamental Aim of Andalusite Market Report
In the Andalusite Industry, every company has goals, but this report focus in on the most important ones, allowing you to gain insight into the competition, the future of the market, potential new products, and other useful information that can boost your sales significantly.
The Andalusite Market is Dominated by Firms Such as
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Critical Insights Related to the Andalusite Included in the Report:
Opportunities for Key Players:
The primary material for operations in the iron and steel industries is andalusite. Such as, these industry using andalusite for heat control in the process during the manufacturing of steel and iron. Moreover, the Iron and steel industry also needs andalusite for other applications. For instance, used for transporting and holding metal and slag; internal linings are necessary in furnaces used in manufacturing steel and iron, vessels furnaces used for heating steel before further processing, and in the flues or stacks through which hot gases are conducted. These are some reasons why the demand for andalusite in steel and iron industry increases and creates immense opportunities for the growth of the andalusite market
Moreover, increasing demand for glass plants will drive the growth of the market. Also, increasing glass production in developed and developing countries will drive the growth rate and revenue of the andalusite market and further create growth opportunities for the andalusite market during forecast period of 2022-2029.
Key Market Segments Covered in Andalusite Industry Research
By Type
By Application
By End User
Key Growth Drivers:
Refractories are highly used in blast furnaces during the manufacture of steel due to its unique properties such as the capability to withstand high thermal conductivity and temperature. Also, the phenomenal properties of andalusite such as low porosity, volume stability, high thermal shock and creep and chemical resistance along with the high level of purity which make it appropriate for use in the manufacturing of refractories. The rising demand for andalusite in refactories is expected to boost the market's growth rate.
Growth and expansion in the construction industry owing to increasing population and rapid urbanization is projected to drive the demand for the steel. This is anticipated to drive the growth of the refectory market. Growing demand for refractories is expected to drive the need for the andalusite during the forecast period.
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Andalusite Market Regional Analysis/Insights:
The countries covered in the andalusite market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Asia-Pacific dominates the andalusite market in terms of revenue and market share due to the increasing demand for refractories in this region and with developing countries including India and China.
North America will continue to project the highest compound annual growth rate during the forecast period of 2022-2029 due to the increasing demand of andalusite in steel and foundry industries. high investments by original equipment manufacturers (OEMs) in the U.S. and positive growth in the manufacture of lightweight vehicles in Mexico are anticipated to increase the demand for metal casting in this region.
This Market Intelligence Report Analyses Some of the Most Crucial Concerns:
Table of Contents:
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