Global Fluorspar Market is Expected to Reach US$ 1,860.8 Mn in 2025

Transparency Market Research has published a new report titled “Fluorspar Market by Product Segment (Acidspar, Metspar, Ceramic, and Others) and Application (Aluminum Production, Steel Production, Hydrofluoric Acid, and Others): Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2017–2025. According to the report, the global fluorspar market was valued at US$ 1,505.3 Mn in 2016 and is likely to reach US$ 1,860.8 Mn in 2025, expanding at a CAGR of 2.7 % between 2017 and 2025.

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Fluorspar is an important mineral ore which has numerous applications including the production of steel and aluminum. It is employed in the production of hydrofluoric acid which is further used to produce numerous fluorochemicals such hydrchlorofluorocarbons (HCFC) and hydrofluorocarbons (HFC). Fluorspar is used in the manufacture of steel and aluminum along with it also has use lithium-ion battery and concrete additives. It is differentiated based on the content of calcium fluoride in the ore which includes acidspar, metspar, ceramic, and others (lapidary and optical grade).

Acidspar is mainly used in the production of hydrofluoric acid and aluminum. Whereas, metspar is used for the removal of impurities such as phosphorus and sulfur during metal manufacturing process. Ceramic-grade fluorspar is used in the manufacture of specialty glass, enamelware, and ceramics. The others segment includes optical-grade fluorspar and lapidary-grade fluorspar. Optical-grade fluorspar is high-grade fluorspar that is utilized as lenses in optical equipment such as microscopes, telescopes, and cameras. Lapidary-grade fluorspar is employed to cut gemstones that are utilized in ornamental objects.

Market dynamics of fluorspar exhibit different trends in distinct region and are highly region oriented. In terms of production and demand Asia Pacific accounted for major share of the fluorspar market in 2016. China is the major consumer and producer of fluorspar and accounted for dominating share of the Asia Pacific fluorspar market in 2016.

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The growth of this market in Asia Pacific is primarily attributed to increasing infrastructure projects which requires a constant supply of steel and aluminum. Increasing demand of aluminum and steel is anticipated to drive the growth of fluorspar in Asia Pacific. Europe followed by Asia Pacific while, Latin America constituted third largest share of the global fluorspar market in 2016. However, demand for fluorspar in Europe is anticipated to increase steadily owing to rise in usage of steel, aluminum, and hydrofluoric acid derivatives in various industries. Moreover, hydrofluoric acid application dominated the fluorspar market in Asia Pacific owing to the increasing production and demand of cooling equipment. Whereas, aluminum and steel industries in Asia Pacific are anticipated to witness growth at a rapid pace during the forecast period.

The market for fluorspar in Asia Pacific is anticipated to register fastest growth rate over the years. Major players operating in the market for fluorspar include Mexichem S.A.B. de C.V., Centralfluor Industries Group, Inc., and Zhejiang Wuyi Shenlong Floatation Co Ltd.

The report segments the global fluorspar market as follows:

Fluorspar Market: Product Segment

  • Acidspar

  • Metspar

  • Ceramic grade

  • Others (optical and lapidary grade)

Fluorspar Market: Application Segment

  • Aluminum production

  • Steel production

  • Hydrofluoric acid

  • Others (concrete additives, lithium-ion battery, etc.)

Fluorspar Market: Regional Analysis

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • Italy

    • Spain

    • U.K.

    • France

    • Rest of Europe

  • Asia Pacific

    • China

    • Japan

    • India

    • ASEAN

    • Rest of Asia Pacific

  • Latin America

    • Brazil

    • Mexico

    • Rest of Latin America

  • Middle East & Africa

    • GCC

    • South Africa

    • Rest of Middle East & Africa

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