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Fluorspar Market to showcase impressive growth rate between 2019 and 2024

Author : Ronak Bora | Published Date : 2019-08-06 

On the basis of application, the fluorspar market is segmented into four major segments mainly, aluminum production, steel production, hydrofluoric acid, and others. With a highest share in the fluorspar market, hydrofluoric acid segment is said to surpass USD 2 billion by the end of the forecast period. Moreover, the segment is said to grow at a highest CAGR of close to 8% in the next seven years.

Based on products, fluorspar market is segmented as acidspar, metspar, ceramic, and others. Considering volume, acidspar segment holds the highest market share, as acidspar with the help of sulfuric acid it is mainly converted into hydrofluoric acid. This hydrofluoric acid is further used for the manufacturing of synthetic cryolites and organofluorides. Moreover, considering revenue, the segment is said to grow at the highest rate of over 8% CAGR in the next seven years.

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Acidspar and metspar together are account for over 95% of the global fluorspar market share. Metspar being the second largest segment in the global product industry is said to surpass USD 1 billion by the end of the forecast time frame. The ceramic segment will exhibit growth with a CAGR of close to 7.5% by the end of 2024.

In this regard, it is imperative to mention that fluorspar industry has been witnessing a flux since a while now. Falling price trends of fluorochemicals along with soft demand for fluorspar are threatening new entrants in the competitive landscape, while some of the low-cost suppliers are striving hard to beat the market odds. Amidst this dynamically charged share battle, fluorspar mining activities across the globe had been a little backfooted for quite a prolonged period. However, technological advancements in the manufacturing processes in tandem with changing faces of end-use sectors has somewhat upscaled the mineral demand. This is evident from the significant attempts taken by the fluorspar market giants to expand the capacity of existing fluorspar mines.

Afghanistan’s sole fluorspar deposit, the Bakhud deposit, has made it to the headlines with the announcement of its decision of tripling the capacity within next six months, in bid to improve the volatile fluorspar market condition. For the records, the mining giant is set to expand the fluorspar capacity by 122,500 tonnes per year once fully operational.

South Africa is also gearing up and as per experts’ opinion, would prove to be a strong contender in the global business space over the ensuing years. South Africa is claimed to have world’s largest fluorspar reserves, and Europe holds a major chunk of the regional export market with regards to production of aluminum fluoride and hydrogen fluoride beneficiation.

Asia Pacific holds a major share in the total fluorspar market and will surpass 60% by the end of the forecast span. Presence of a significantly developing and mature industry using aluminum and steel for various applications is said to augment the product industry in coming years. The region will display growth at a high CAR of close to 8.5% in the coming years. North America and Europe, in combine, will hold a share of close to 25% in the fluorspar market.

Prominent players operating in the fluorspar market include Zhejiang Wuyi Shenglong Flotation, Centralfluor Industries Group, Mexichem, British Fluorspar, Kenya Fluorspar Company, Seaforth Mineral, RUSAL, China Kings Resources Group, Minersa Group, Groupe Managem, Canada Fluorspar, Ying Peng Chemical, Mongolrostsvetmet, Masan Group, and Steyuan Mineral Resources to name a few.

Glimpse of Table of Content (ToC)

Chapter 4. Fluorspar Market, Product by Application

4.1.   Global fluorspar market share of product by application, 2016 & 2024

4.2.   Acidspar

4.2.1.     Market estimates and forecast by application, 2013 – 2024

·    Aluminum production

·    Steel production

·    Hydrofluoric acid production

·    Others

4.2.2.     Market estimates and forecast by region, 2013 – 2024

4.3.   Metaspar

4.3.1.     Market estimates and forecast by application, 2013 – 2024

·    Aluminum production

·    Steel production

·    Hydrofluoric acid production

·    Others

4.3.2.     Market estimates and forecast by region, 2013 – 2024

4.4.   Ceramic

4.4.1.     Market estimates and forecast by application, 2013 – 2024

·    Aluminum production

·    Steel production

·    Hydrofluoric acid production

·    Others

4.4.2.     Market estimates and forecast by region, 2013 – 2024

4.5.   Others

4.5.1.     Market estimates and forecast by application, 2013 – 2024

·    Aluminum production

·    Steel production

·    Hydrofluoric acid production

·    Others

4.5.2.     Market estimates and forecast by region, 2013 – 2024

Browse complete Table of Contents (ToC) of this research report @ https://www.gminsights.com/toc/detail/fluorspar-market

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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