Global Fluorspar Market Report and Forecast 2023-2028

Global Fluorspar Market Report and Forecast 2023-2028

Market Outlook

According to the report by Expert Market Research (EMR), the global fluorspar market attained a value of USD 3083.7 million in 2022. Aided by the increasing demand from various end-use industries such as steel, aluminium, and chemical, the market is projected to further grow at a CAGR of 9.5% between 2023 and 2028 to reach a value of USD 5290.2 million by 2028.

Fluorspar, also known as fluorite, is a mineral composed of calcium fluoride (CaF2). It is used as a flux in the production of steel, aluminium, and other metals, as well as a raw material in the chemical industry for the production of hydrofluoric acid, which is further used to produce fluorocarbons, fluoropolymers, and other fluoride chemicals. Fluorspar is also utilised in the manufacturing of glass, ceramics, and cement, among other applications. The growing demand for fluorspar in various end-use industries, such as steel, aluminium, and chemical, is driving the growth of the fluorspar market. Fluorspar is an essential component in the production of steel and aluminium, as it helps remove impurities and improves the fluidity of molten metal. The increasing demand for steel and aluminium in the construction, automotive, and aerospace sectors is positively impacting the consumption of fluorspar.

Another key factor propelling the growth of the fluorspar market is the rising demand for hydrofluoric acid in the chemical industry. The growing demand for these chemicals in various industries, such as automotive, electronics, and pharmaceuticals, is contributing to the growth of the fluorspar market. The increasing demand for fluorspar in the glass and ceramics industry is also driving the market growth. Fluorspar is used as a flux in the production of glass and ceramics, helping to reduce the melting temperature of raw materials and improving the properties of the final products.

The rising demand for high-quality glass and ceramics in various applications, such as consumer electronics, solar panels, and construction, is further boosting the consumption of fluorspar. Moreover, the growing adoption of energy-efficient technologies, such as electric vehicles and renewable energy systems, is another trend positively impacting the fluorspar market. The market is also benefiting from the increasing investments in research and development to find new applications for fluorspar and improve its production process.

Market Segmentation

The market can be divided on the basis of product type, application, and region.

Market Breakup by Product Type:

• Acidspar
• Breakup by Application

Aluminium Production

Hydrofluoric Acid Production

Others

• Metaspar
• Breakup by Application

Steel Production

Cement Production

Ceramic

Others

Market Segmentation by Application:

• Aluminium Production
• Steel Production
• Hydrofluoric Acid Production
• Lithium-ion Battery
• Others

Market Division by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The EMR report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the global fluorspar companies. Some of the major key players explored in the report by Expert Market Research are as follows:

• Orbia Advance Corporation, S.A.B. de C.V.
• Masan Group Corporation
• Fluorsid S.p.A.
• Minersa Group
• Kenya Fluorspar Company Ltd.
• China Kings Resources Group Co.,Ltd.
• Others

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*We at Expert Market Research always strive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.