Fluorspar is a commercial name for the mineral fluorite. The mineral is characterized by its hardness, fluorescence, and various colors. They are used in the manufacture of lenses of microscopes, cameras, and telescopes. The global fluorspar market report by Market Research Future (MRFR) enlightens industry users of the industrial uses as well as its future prospects for the period.
Market Overview
The global Fluorspar Industry is estimated to reach a value of USD 987.3 million by 2023. It can expand at a CAGR of 7.8% during the forecast period. The high demand from steel and aluminum industries can spark the need for fluorspar, which is one of the main constituents needed to strengthen the end material and give it a natural luster. The popularity of lithium-ion batteries is likely to drive the market demand till 2023. This can be attributed to the consumption of consumer electronics and electronic devices which require Li-ion batteries.
The expansion of ceramics, optics, and personal care sectors as well as the spike in expendable income levels of consumers can augment the market size considerably by the end of the forecast period. Opaque glasses used in windows and glass doors in commercial complexes and hi-rise buildings can bode well for the global fluorspar market. But environmental hazards pertaining to the extraction of fluorite can pose a challenge to the market growth.
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Market Segment
The segment assessment of the global fluorspar market is done by form, purity, and end-user.
The form based segment of the global fluorspar market are lump, dry powder, and filter cake among others. Dry powder is widely used as high purity acid in chemical manufacturing and metallurgical applications. The increase in mining activities, resulting in increased metallurgical utility of the dry form of fluorspar can support the rise of the market through the review period.
The purity based segment of the fluorspar market are ceramic spar, acid spar, and met spar among others. The sub-segments of the acid spar market are based on application. They are aluminum fluoride, hydrofluoric acid (HF), welding rods, and synthetic cryolite among others. The hydrofluoric acid segments are fluorocarbons (refrigerant and foam blowing agent), toothpaste, steel pickling process, Li-ion batteries petroleum alkylation, and etchant for semiconductors among others. The Ceramic spar sub-segments are ceramics, glass, and enamelware among others. The Met spar sub-segments are metal (steel and iron among others), fluorite carved craftworks, and cement among others. The Acid spar segment can win considerable profits for the market as the consumption for HF is high due to its large-scale application.
The end-user based segment of the global fluorspar market are chemical, metallurgy, optical, ceramic, electronics, lapidary, and personal care among others. The metallurgy industry can gain high traction as infrastructural activities is observed to rise.
Regional Analysis
By region, the fluorspar industry covers growth opportunities and latest trends across Asia Pacific, North America, Europe, Latin America and Middle East and Africa. Of these, the fluorspar market in the APAC region will be the largest and also grow at the fastest pace owing to increasing demand for various forms of fluorspar from different end-use industries, changing lifestyle, rising disposable income, growing automotive industry, urbanization and rapid industrialization. In North America, the fluorspar market is predicted to be a key consumer owing to increasing need from the key end-use industries especially metallurgy and chemical. Increasing renovation and construction are attributed to the metallurgy industry growth. The fluorspar market in Europe is predicted to have steady growth. In Latin America, the fluorspar market is likely to generate revenue from fluorspar export to Europe and North America. In the Middle East and Africa, the fluorspar market is anticipated to have rising demand from construction and chemical industries.
Key Players
Mongolrostsvetmet LLC (Mongolia)
China Kings Resources Group Co.
Ltd. (China)
British Fluorspar Ltd (UK)
Seaforth Mineral Ore Co.
Inc (U.S.)
MINERSA GROUP (Spain)
Kenya Fluorspar Company Ltd. (Kenya)
Centralfluor Industries Group
Inc. (China)
ZHEJIANG WUYI SHENLONG FLOATATION CO LTD. (China)
Masan Group (Vietnam)
Mexichem S.A.B. de C.V (Mexico)
and Tertiary Minerals Plc (UK).
March 2019- Using fluorite as an example, researchers at HIF (Helmholtz Institute Freiberg for Resource Technology) have shown how the use of water can be optimized. This will indicate the times when it is time to recycle the water devoid of incurring losses at the time of ore enrichment. Along with proving beneficial for the environment it will also help in efficient extraction of raw materials.
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