Kyanite Market size was valued at USD 1.1 billion in 2024 and is expected to reach USD 1.95 billion by 2037, registering around 4.5% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of kyanite is assessed at USD 1.14 billion.
The major factor to dominate the growth of the market is the growing production of automobiles. Globally, approximately 84 million motor vehicles were produced in 2022, up from about 4% compared to 2021. Hence, the use of kyanite is also anticipated to increase as it offers heat-resistant qualities.
Additionally, other diverse goods are also manufactured with the help of kyanite. One significant use is the production of refractory goods, such as the bricks, mortars, and kiln furniture used in high-temperature furnaces. Molds composed of kyanite are frequently used in foundries to cast high-temperature metals. Furthermore, the governments of different countries are imposing strict laws and regulations on chemicals that are hazardous to the environment. Therefore, owing to this, the preference for green chemistry is growing among chemical industries, which is further boosting market growth.
Growth Drivers
The interest among people, especially women in jewelry is growing. Many females prefer to wear jewelry as a sign of femininity or to demonstrate social standing. However, gemstones preferred for jewelry are made of kyanite. Kyanite of excellent quality and pleasing color could be carved into appealing and sought-after cabochons and faceted stones. These are frequently used in jewelry such as rings, earrings, pendants, and others. Beads could also be made from kyanite. Moreover, these gemstones are also considered to have some healing properties. Hence, the demand for kyanite is growing.
The electronic and electrical sectors' expanding usage of kyanite as an abrasive is drive the kyanite market. The need for insulating materials has increased as a result of developing trends in robotics and robotic automation process in the electronics industry. The electrical and electronic sectors have grown rapidly due to technical improvements and the emergence of the digital economy, which is anticipated to drive demand for kyanite globally.
Due to its high heat resistance and hardness, kyanite is a fantastic material for making cutting and grinding wheels. It serves as a component of the binding agent that binds the abrasive particles in the shape of a wheel together, rather than serving as the primary abrasive.
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
4.5% |
|
Base Year Market Size (2024) |
USD 1.1 billion |
|
Forecast Year Market Size (2037) |
USD 1.95 billion |
|
Regional Scope |
|
Type (Blue, Cyan)
Kyanite market from the blue segment is set to generate the highest revenue by the end of 2037. The growth of this segment can be influenced by its presence in abundance in the environment. Moreover, kyanite is not only used in various industrial applications, such as high refractory strength porcelain, however, it is also a rare gemstone. With colors ranging from clear to blue to green and teal, blue kyanite gemstones are highly popular. Blue kyanite is the most common type that gemstone collectors use to make fine jewelry.
End-Use (Railroad, Electrical & Electronic, Automotive, Manufacturing)
The railroad segment in the kyanite market is expected to have significant growth over the forecast period. This growth is owing to the growing number of train running. In 2021, the United States rail network was estimated to cover almost 148,000 km, making it the world’s largest rail network. The Chinese rail system, which spans close to 109,000 train kilometers, comes next. Hence, the demand for kyanite is growing as it plays a significant role in the rail industry. Moreover, the government is also investing in the railroad business, which is also estimated to boost kyanite market growth.
Our in-depth analysis of the global market includes the following segments:
|
Type |
|
|
Application |
|
|
End-Use |
|
North American Market Forecast
North America industry is estimated to hold largest revenue share by 2037, backed by growing production of kyanite. For instance, an estimated 81,000 tonnes of kyanite were produced in 2021 in Virginia by one company with integrated mining and processing operations. This surge in the production of kyanite is backed by rising demand from the railroad and electronic industries.
APAC Market Statistics
The kyanite market in Asia Pacific is estimated to have remarkable growth in the near future. The region is anticipated to grow significantly as a result of increased demand from end-use sectors including the automobile, aerospace, building, and electronics. Due to its easy access to low-cost raw materials and its extensive mineral deposits, China was one of the world's major consumers and producers. Rapid urbanization and population growth have raised the demand for consumer goods such as smartphones, laptops, and other gadgets. Over the projection period, this demand is expected to drive product consumption across a variety of applications, including ceramic ware and casting products.
Author Credits: Rajrani Baghel
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?