Feldspar: Cycles

One of the steadiest prices in minerals

Feldspar prices are low and stable. The US unit value of marketable production barely moved, from $107/t in 2021 to about $110/t in 2025. Imported nepheline syenite, a premium alternative, rose faster, from $164/t to about $220/t. Demand follows construction, through tiles, sanitaryware, flat glass and insulation, and packaging. A shift from plastic to glass containers supports it. Supply responds quickly because deposits are plentiful, so booms rarely last.

US price, Feldspar, marketable production, average US unit value

Super-cycles in feldspar

Feldspar has no super-cycle in price. It is cheap, abundant and sold on bilateral contracts, and the US unit value moved only from $107/t to $110/t between 2021 and 2025. Its cycles are in volume and trade flows, driven by tile and glass demand and by energy costs in the kiln clusters that buy it. The big shifts were Turkey's rise to dominate Mediterranean supply, the boom in Indian tile output, and the EU's 2023 decision to list feldspar as critical because of dependence on Turkey.

1. 2007-2017

   India's tile output nearly tripled as Morbi grew into the country's main cluster, pulling local feldspar mining up with it.

   No price series; Indian tile production rose from 385 million sq m (2007) to 1,080 million sq m (2017) (CARE Ratings)

2. 2020-2023

   Post-pandemic construction lifted world output from 30 Mt (2020) to 42 Mt (2022) on WMD data, and EU imports from Turkey doubled, making feldspar an EU critical raw material in 2023.

   US marketable feldspar flat at $107/t (2021-2023); imported nepheline syenite rose from $164/t (2021) to $195/t (2023) (USGS)

3. 2026 energy shock

   A gas price spike hit kiln-intensive buyers. In 2026, Morbi's piped gas price rose 80% to about Rs 75/Sm3 and more than 500 plants shut kilns in March-April, with a 15% fall in Indian tile output forecast for 2026.

   Feldspar price data not published; US feldspar $110/t and nepheline syenite $220/t in 2025 (USGS); tile price lists up 15-20% in May 2026 (Ceramic World Web)

What drives the cycle

• Ceramic tile output in India, China, Spain, Italy and Turkey. Tiles and sanitaryware are the largest use worldwide; Indian tile output was 2,452 million sq m in 2025 (MECS).
• Glass packaging and flat glass. 47% of US use; packaging is shifting from plastic to glass (USGS).
• Housing starts. Tiles, sanitaryware, plate glass and insulation all follow new construction (USGS).
• Kiln energy prices. Gas is a major cost for tile clusters; price spikes cut tile output and feldspar demand.
• Freight and Turkish supply. Turkey supplied 51% of EU needs; shipping or policy disruption raises EU supply risk.

Metrics to track