Fluorspar Market: Global Industry Analysis and Forecast (2023-2029)

Global Fluorspar Market was valued at US$ 1.39 Bn. in 2022. Global Fluorspar Market size is estimated to grow at a CAGR of 5.92 % during the forecast period.
Fluorspar Market Overview:
Fluorspar is a fairly soft and moderately heavy isometric mineral. It is generally associated with quartz, chalcedony, calcite, or barite sphalerite and galena, which are the most common sulfide minerals in fluorspar deposits. It is used in production of opaque glasses in the application area like office, hospitals and commercial space. It is also used in the production of refrigerants, insulating foams, gasoline, aluminium, steel, and uranium fuel.

Fluorspar has High demand from aluminum and steel industries

The Asia Pacific region is expected to hold the dominant position by 2029 with the share of more than 45% in the global market.

Some of prominent key players operating in the market are China Kings Resources Group, MINERSA GROUP, and Mexichem S.A.B. And Seaforth Mineral & Ore.To know about the Research Methodology :- Request Free Sample Report
Fluorspar Market Dynamics:
High Demand from Steel Industries: A Key Market Driver

Steel offers its high tensile strength, corrosion resistance, and better durability features that drive its adoption in several end-user industries. The fluorspar is added as a flux to increase the solubility of compositions in the slag, which is used for production of steel. Steel is used in applications like construction, aerospace, household appliances, and automotive. With the rapid expansion of application areas, the demand for steel is expected to increase, which is also resulting the high adoption of fluorspar.

An increase in Penetration of Electrical Vehicle

The usage of lithium-ion batteries in electrical vehicle are expected to drive the demand for fluorspar from fluorspar derived chemicals. The battery manufacturers are trying to find new applications for the fluorspar in the lithium-ion batteries. In the current market scenario, the rise in CO2 emissions, environmentally friendly methods for the steel production are increasing the popularity for the electrical vehicle. A shift in the consumer preference toward the electrical car is boosting the market growth.

The Factors to Determine balance of supply and demand of acid spar in the Market:

Factors affecting the supply

1. Export-policy of China
2. New projects (green-field, brownfield, met-spar upgrading).
3. Capacity expansion of existing producers

Factors affecting the demand

4. Development of HF-market.
5. Alternatives to replace acid spar
6. Development of the downstream markets (fluorocarbons, fluoropolymers, AlF3).
Fluorspar Market Segment Analysis:
Aluminium (Al) is one of the common metal elements in the world. Some of the features like electrically conductive metals and highly resistant, light, strong, and cheap to produce are expected to drive its demand for various domestic and industrial applications. In 2022, the production of aluminium was 43.037 million tonnes. In Asia, mainly in China, aluminium production was 347,000 tonnes, which was declined by 7.22% with respect to the production of previous year. In the Middle East, primary aluminium production stood at 488,000 tonnes.
Fluorspar Market Regional Insights:
Chinese production –Key to Asia Pacific regional Growth

The biggest steel producing country is currently China, which accounted for 57% of world steel production in 2022. The steelmaking in China has witnessed significant capacity enhancement because of the surging environmental concerns and demand for the high specifications. Rapid expansion of the end user industries like steel, aluminium across developing economies in Asia Pacific region is expected to drive the market growth. Many key players from different sector are focusing on the shifting their production unit to the Asia Pacific due to the availability of the cheap labour and drastically increasing economic growth rate and manufacturing industries.

The objective of the report is to present a comprehensive analysis of the global Fluorspar Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The reports also help in understanding the Fluorspar Market dynamic, structure by analyzing the market segments and projecting the Fluorspar Market size. Clear representation of competitive analysis of key players by Application, price, financial position, product portfolio, growth strategies, and regional presence in the Fluorspar Market make the report investor’s guide.
Fluorspar Market Scope: Inquiry Before Buying



Fluorspar Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US $ 1.39 Bn.


Forecast Period 2023 to 2029 CAGR:
5.92 %
Market Size in 2029:
US $ 2.09 Bn.


 Segments Covered:
by Technology
Filter Cake
Powder
Lump


by End-User
Electrical and Electronics
Metallurgy spar
Chemical
Acid spar
Ceramic
Optical


by Application
Hydrofluoric Acid
Aluminium
Steel



Fluorspar Market by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Fluorspar Market Key Players
1. Zhejiang Wuyi Shenlong Floatation Co Ltd
2. Canada Fluorspar and Moodie Mineral Company
3. Steyuan Mineral Resources Group Ltd.
4. Ying Peng Chemical Co., Ltd
5. China Kings Resources Group Co., Ltd.
6. Centralfluor Industries Group
7. Kenya Fluorspar Company Ltd
8. Mexichem S.A.B. de C.V
9. Seaforth Mineral and Ore Co
10. Masan Group
11. Tertiary Minerals
12. MINERSA GROUP
13. British Fluorspar Ltd
14. Mongolrostsvetmet LLC
15. Sallies Limited
16. RUSAL
17. British Fluorspar Ltd
18. Kenya Fluorspar Company Ltd
19. Canada Fluorspar
20. Groupe Managem

Frequently Asked Questions:

1. Which region has the largest share in Global Fluorspar Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Fluorspar Market?
Ans: The Global market is growing at a CAGR of 5.92% during forecasting period 2023-2029.

3. What is scope of the Global Fluorspar market report?
Ans: Global market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Fluorspar market?
Ans: The important key players in the Global market are – Zhejiang Wuyi Shenlong Floatation Co Ltd, Canada Fluorspar and Moodie Mineral Company, Steyuan Mineral Resources Group Ltd., Ying Peng Chemical Co., Ltd, China Kings Resources Group Co., Ltd., Centralfluor Industries Group, Kenya Fluorspar Company Ltd, Mexichem S.A.B. de C.V, Seaforth Mineral and Ore Co, Masan Group, Tertiary Minerals, MINERSA GROUP, British Fluorspar Ltd, Mongolrostsvetmet LLC, Sallies Limited, RUSAL, British Fluorspar Ltd, Kenya Fluorspar Company Ltd, Canada Fluorspar, and Groupe Managem

5. What is the study period of this market?
Ans: The Global Fluorspar Market is studied from 2022 to 2029.