Increased usage of andalusite in refractories is the primary driver of the global andalusite market

WILMINGTON, Del. - March 17, 2023 - PRLog -- The report titled "Global Andalusite Market Analysis and Forecast, 2019-2028" analyzes the market in both regional and global terms by type, application, and region. A thorough report offers a detailed historical and projected market size along with a comprehensive market trend analysis.

Market Overview and Dynamics

The global market for andalusite is expected to experience moderate growth of around 5.5% over the next few years. Refractories are extensively used in blast furnaces during the manufacturing of steel because of their distinctive properties such as their ability to withstand high temperatures and thermal conductivity.

Segmental Analysis

• On the basis of application, the refractory segment is dominating the global andalusite market.
• 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, 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

For more information about this report: https://store.rationalstat.com/store/global-andalusite-market/

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