Global Fluorspar Market by Product Type (Acidspar, Metaspar, and Ceramic), By Application (Aluminium Production, Steel Production, Hydrofluoric acid Production, and Others) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
Fluorspar Market Outlook
The global fluorspar marketd size was valued at USD 2,200.0 Million in 2019 and is projected to reach USD 2,612.2 Million by 2027 expanding at a CAGR of 3.0 % during the forecast period, 2020-2027. Fluorite, also known as fluorspar, is a naturally occurring mineral composed of calcium fluoride CaF2. It belongs to halide minerals group. Fluorite is easy to identity owing to its properties such as hardness, cleavage in its structure, and specific gravity of fluorite.
It is the only common mineral which has perfect four directional cleavage often when it breaks into pieces, in the shape of an octahedron. It is also used and known for its hardness which represents hardness of four in Mohs hardness scale. It is one of the important industry mineral used for numerous applications.
Fluorite is graded into three categories for commercial purposes. First grading is known as metallurgical grade, which is composed of 60% to 85% of calcium fluoride and is majorly used in steel production, and cement production.
The second grade is known as ceramic grade, which includes 85% to 95% of calcium fluoride and it is widely used for producing enamel, nonstick cooking utensils, and certain types of glass. The third and the highest grade of fluorite is known as acid-grade fluorspar. Acid grade fluorspar is used for the production of hydrofluoric acid. It is used in aluminum smelting.
Fluorite is used in a wide range of industries for various applications including the chemical industry, metallurgical industry, ceramic industry, and glass industry. The demand for fluorspar for producing steel, aluminum, and glass is increasing rapidly.
Fluorspar is used in the chemical industry for producing fluoro chemicals. Mining of fluorite can cause severe effects on environment; therefore, there are stringent regulations and rules have been imposed by governments on the mining industry for ensuring safety in mining procedures.
Fluorspar Market Dynamics
The market is driven by factors such as increasing use of fluorite in cement, continuous rise in population globally has led to increase in the demand for residential and commercial buildings, rising adoption of aluminum in the automotive industry, as customer preference for lightweight vehicles is increasing day by day.
Aluminum is lighter in weight than iron and steel; therefore, it a suitable material for making vehicle parts, growing demand for hydrofluoric acid globally, rising steel & aluminum production in Asia Pacific, rising demand for fluorocarbons in numerous applications has generated the need for fluorocarbon production, these are the major factors expected to propel the market growth.
However, availability of cheaper alternatives and substitutes, impact of fluorite mining on environment, and stringent government regulations for mining activities are key factors restraining the growth of market.
Moreover, innovation of such technologies cause minimum harm to the environment and human life due to mining, rapid industrialization in emerging economies such as China and India are the major reasons expected to create ample opportunities for innovation in the mining industry.
Furthermore, Key players in the fluorspar market are focusing on developing products and technologies, owing to the increasing demand for fluorspar by several industries, and increasing usage of fluorspar in refrigerants are major trends in market, which in turn is expected to gain rapid traction and boost the market growth during the forecast period.
Fluorspar Market Segmental Insights
Product Types Segment Analysis
In terms of product types, the global fluorspar market is segmented into acidspar, metaspar, and ceramic. The acidspar segment is projected to expand at significant CAGR of during the forecast period.
Acidspar is used for the production of hydrofluoric acid, which is used to manufacture a variety of products including fluorocarbon chemicals, foam blowing agents, refrigerants, and fluoride chemicals. Fluorspar is the commercial name for mineral fluorite.
It belongs to the halide mineral, and is an important industrial mineral composed of calcium and fluorine. Naturally occurring fluorite is divided into three-grades, as per percentage of calcium fluoride. Fluorspar is divided into acid-grade, ceramic-grade, and Metallurgical-grade. Fluorspar is developed in the form of cubic crystals and is available in a wide range of colors.
The end-use of fluorspar is determined by the-grade of the fluorspar (calcium fluoride CaF2) in the metallurgical, ceramics, and chemical industries. Increasing demand of acidspar, for manufacturing of hydrofluoric acid has led to surge the demand for acid-grade fluorspar and is expected to boost the demand for acidspar during the forecast period.
Applications Segment Analysis
Based on applications, the global Fluorspar market is classified into aluminium production, steel production, hydrofluoric acid production, others (glass, ceramic, etc). The hydrofluoric acid segment is expected to hold major share of the market.
Growing number of applications of hydrofluoric acid in various industries has increased the demand for hydrofluoric acid worldwide, which in turn, increases the need for HF production. The aluminum segment is estimated to expand due to increasing usage of aluminum in the automotive industry and rising demand for aluminum by the food industry and the pharmaceutical industry for packaging.
Increasing adoption of aluminum for making parts of vehicles in the automotive industry is fueling the demand for aluminum production. Rising demand for fluorochemicals from end-user industries and increasing production of aluminum and steel are propelling the market. Aluminum, steel, glass are widely used by industries for numerous applications.
Increasing population and rising demand for consumer goods, automobiles, food and beverages, pharmaceuticals products, and electronic products are increasing the consumption of glass, steel, and aluminum and driving the demand for production of these materials. This, in turn, is expected to boost the market growth and create opportunities for the mining of fluorspar in large quantities in the near future
Regional Outlook
In terms of regions, the market has been fragmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is a promising region for the market owing to huge production & exports from China.
China is the largest exporter and producer of fluorspar globally and is expected to remain a key driver for Asia Pacific market growth. Increasing downstream activities in China is expected to drive market growth in the region.
North America fluorspar market is also expected to grow during the forecast period. The US is the one of the major consumers of the product and due to the less production of fluorspar in the country, maximum quantity of the product is imported from Mexico. In US the product is mainly used for manufacture hydrofluoric acid and other fluorine compounds.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Fluorspar Market
- Historical, Current and Projected Market Size in terms of Value and Volume
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Fluorspar Market Performance
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Fluorspar Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Fluorspar Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Fluorspar Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Fluorspar Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Fluorspar Market Size & Forecast, 2017-2027
4.5.1 Fluorspar Market Size and Y-o-Y Growth
4.5.2 Fluorspar Market Absolute $ Opportunity
Chapter 5 Global Fluorspar Market Analysis and Forecast By Product Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities By Product Type
5.1.2 Basis Point Share (BPS) Analysis By Product Type
5.1.3 Absolute $ Opportunity Assessment By Product Type
5.2 Fluorspar Market Size Forecast By Product Type
5.2.1 Acidspar
5.2.2 Metaspar
5.2.3 Ceramic
5.3 Market Attractiveness Analysis By Product Type
Chapter 6 Global Fluorspar Market Analysis and Forecast By Application
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities By Application
6.1.2 Basis Point Share (BPS) Analysis By Application
6.1.3 Absolute $ Opportunity Assessment By Application
6.2 Fluorspar Market Size Forecast By Application
6.2.1 Production
6.2.2 Steel Production
6.2.3 Hydrofluoric acid Production
6.2.4 Others
6.3 Market Attractiveness Analysis By Application
Chapter 7 Global Fluorspar Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Fluorspar Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Fluorspar Analysis and Forecast
9.1 Introduction
9.2 North America Fluorspar Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Fluorspar Market Size Forecast By Product Type
9.6.1 Acidspar
9.6.2 Metaspar
9.6.3 Ceramic
9.7 Basis Point Share (BPS) Analysis By Product Type
9.8 Absolute $ Opportunity Assessment By Product Type
9.9 Market Attractiveness Analysis By Product Type
9.10 North America Fluorspar Market Size Forecast By Application
9.10.1 Production
9.10.2 Steel Production
9.10.3 Hydrofluoric acid Production
9.10.4 Others
9.11 Basis Point Share (BPS) Analysis By Application
9.12 Absolute $ Opportunity Assessment By Application
9.13 Market Attractiveness Analysis By Application
Chapter 10 Europe Fluorspar Analysis and Forecast
10.1 Introduction
10.2 Europe Fluorspar Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Fluorspar Market Size Forecast By Product Type
10.6.1 Acidspar
10.6.2 Metaspar
10.6.3 Ceramic
10.7 Basis Point Share (BPS) Analysis By Product Type
10.8 Absolute $ Opportunity Assessment By Product Type
10.9 Market Attractiveness Analysis By Product Type
10.10 Europe Fluorspar Market Size Forecast By Application
10.10.1 Production
10.10.2 Steel Production
10.10.3 Hydrofluoric acid Production
10.10.4 Others
10.11 Basis Point Share (BPS) Analysis By Application
10.12 Absolute $ Opportunity Assessment By Application
10.13 Market Attractiveness Analysis By Application
Chapter 11 Asia Pacific Fluorspar Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Fluorspar Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Fluorspar Market Size Forecast By Product Type
11.6.1 Acidspar
11.6.2 Metaspar
11.6.3 Ceramic
11.7 Basis Point Share (BPS) Analysis By Product Type
11.8 Absolute $ Opportunity Assessment By Product Type
11.9 Market Attractiveness Analysis By Product Type
11.10 Asia Pacific Fluorspar Market Size Forecast By Application
11.10.1 Production
11.10.2 Steel Production
11.10.3 Hydrofluoric acid Production
11.10.4 Others
11.11 Basis Point Share (BPS) Analysis By Application
11.12 Absolute $ Opportunity Assessment By Application
11.13 Market Attractiveness Analysis By Application
Chapter 12 Latin America Fluorspar Analysis and Forecast
12.1 Introduction
12.2 Latin America Fluorspar Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Fluorspar Market Size Forecast By Product Type
12.6.1 Acidspar
12.6.2 Metaspar
12.6.3 Ceramic
12.7 Basis Point Share (BPS) Analysis By Product Type
12.8 Absolute $ Opportunity Assessment By Product Type
12.9 Market Attractiveness Analysis By Product Type
12.10 Latin America Fluorspar Market Size Forecast By Application
12.10.1 Production
12.10.2 Steel Production
12.10.3 Hydrofluoric acid Production
12.10.4 Others
12.11 Basis Point Share (BPS) Analysis By Application
12.12 Absolute $ Opportunity Assessment By Application
12.13 Market Attractiveness Analysis By Application
Chapter 13 Middle East & Africa (MEA) Fluorspar Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Fluorspar Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Fluorspar Market Size Forecast By Product Type
13.6.1 Acidspar
13.6.2 Metaspar
13.6.3 Ceramic
13.7 Basis Point Share (BPS) Analysis By Product Type
13.8 Absolute $ Opportunity Assessment By Product Type
13.9 Market Attractiveness Analysis By Product Type
13.10 Middle East & Africa (MEA) Fluorspar Market Size Forecast By Application
13.10.1 Production
13.10.2 Steel Production
13.10.3 Hydrofluoric acid Production
13.10.4 Others
13.11 Basis Point Share (BPS) Analysis By Application
13.12 Absolute $ Opportunity Assessment By Application
13.13 Market Attractiveness Analysis By Application
Chapter 14 Competition Landscape
14.1 Fluorspar Market: Competitive Dashboard
14.2 Global Fluorspar Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Canada Fluorspar
14.3.2 Mexichem Fluor
14.3.3 Minersa Minerals
14.3.4 Moodie Mineral Company
14.3.5 RUSAL
14.3.6 Sallies Limited
14.3.7 Seaforth Mineral & Ore Co. Ltd
14.3.8 Zhejiang Yingpeng Chemical Ltd.