Fluorspar Market Research with Industry, Applications, Growth, Demand with Analysis Report 2023
Fluorspar Market Overview:
Fluorspar Market report Information: By Forms (Powder, Lump, Filter Cake), Purity and Its Application (Acid Spar, Met Spar, Ceramic Spar), End-Use Industry (Metallurgy, Chemical, Ceramic, Optical, Electrical & Electronics), and Region - Forecast Till 2023.
Fluorspar is the commercial name of mineral fluorites. Fluorite minerals are composed of calcium fluoride (CaF2) containing 51.1% calcium and 48.9% fluorine. Fluorspar is categorized based on purity into different types such as an acid spar, ceramic spar, met spar, and others. Acid spar is an extremely pure material containing over 97% CaF2. Ceramic spar contains about 85%-97% CaF2. Met spar contains about 60%-85% CaF2.
Some of the major players operating in the global Fluorspar Market are Tertiary Minerals Plc (UK), Mexichem S.A.B. de C.V (Mexico), Masan Group (Vietnam), ZHEJIANG WUYI SHENLONG FLOATATION CO LTD. (China), Centralfluor Industries Group, Inc. (China), Kenya Fluorspar Company Ltd. (Kenya), MINERSA GROUP (Spain), Seaforth Mineral & Ore Co., Inc (U.S.), British Fluorspar Ltd (UK), China Kings Resources Group Co., Ltd. (China), and Mongolrostsvetmet LLC (Mongolia).
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Fluorspar are also found in the fractures and cavities of some limestone and dolomites. It occurs as cubic, isometric crystals having cleavable mass with colorless and translucent with a glassy luster. Impurities change the color of the fluorspar to purple, blue, green, yellow, or others.
Met spar is metallurgical grade fluorspar, which is primarily used in the production of metals where it acts as a flux to remove impurities such as sulfur and phosphorous from molten metal and thus improves the fluidity of slag. Metspar is further used as a catalyst in cement manufacturing and for producing fluorite carved craftworks. Acid spar is chemical grade fluorspar, extensively used in the manufacture of hydrogen fluoride & synthetic cryolite, which is fundamental raw material used in the manufacturing of aluminum metal. Additionally, acid spar further finds application in manufacturing of hydrofluoric acid (HF), which are further used for the manufacturing of fluorocarbon. It is utilized as a refrigerant in air conditioners and foam blowing agent in polymer synthesis. HF is also used as a catalyst in petroleum alkylation, for manufacturing toothpaste, as a cleaning & etching agent in the semiconductor industry, and pickling of steel among other. Ceramic spar is majorly used in the manufacturing glasses, ceramics & ceramic wares, enamelware.
Market Segmentation Analysis:
The global fluorspar market is segmented by form, purity & its application, end-use industry, and region.
On the basis of the form, the global fluorspar market is segmented into a dry powder,lump form, filter cake, and others.
On the basis of the purity, the global fluorspar market is segmented into acid spar, ceramic spar, met spar, and others. Acid spar is sub-segmented based on application into hydrofluoric acid (HF), aluminum fluoride, synthetic cryolite, welding rods, and others. Hydrofluoric acid is further segmented based on application into fluorocarbons (refrigerant, foam blowing agent), petroleum alkylation, toothpaste, the etchant for semiconductors, steel pickling process, Li-ion batteries, and others. Ceramic spar is sub-segmented based on application into glass, ceramics, enamelware, and others. Met spar is sub-segmented based on application into metal (steel, iron, and others), cement, fluorite carved craftworks, and others.
On the basis of the end-user industry, the global fluorspar market is segmented into metallurgy, chemical, ceramic, optical, electrical & electronics, personal care, lapidary, and others.
On the basis of the region, the global fluorspar market is segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
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Growing demand for steel and aluminum from the construction industry is expected to be the key driver in the growth of the global fluorspar market over the forecast period. Growing popularity of lithium-ion batteries over conventional batteries is also expected to drive the fluorspar market over the forecast period majorly. Furthermore, growing optics, ceramics, and personal care industry in emerging economies on account of rising disposable income and changing lifestyle are further augmenting the fluorspar market over the forecast period.
Environmental hazard associated with fluorocarbons such as high ozone layer depletion potential is likely to hamper the fluorspar market growth over the forecast period. Additionally, potential risk of long-term security supply is likely to increase the cost of the fluorspar, which may hamper the market growth over the forecast period.
The global fluorspar market is segmented into five regions namely Europe, Latin America, Asia Pacific, North America, and the Middle East and Africa.
Europe is expected to be another major market for fluorspar and is expected to show steady growth over the forecast period. Significant demand from the automotive and metallurgical industries is expected to boost the growth of the regional fluorspar market.
Latin America is expected to generate revenue from the export of fluorspar to North America and Europe over the forecast period.
Asia Pacific is expected to be the largest and fastest growing market for fluorspar over the forecast period due to the high demand for different types of fluorspar from various end-use industries such as metallurgy, chemical, electrical & electronics, optics, ceramics, personal care, lapidary and others. Rapid industrialization & urbanization, growing automotive industry, rising disposable income, changing lifestyle are contributing to the growth of the regional fluorspar market.
North America is expected to be one of the major consumers of fluorspar due to growing demand from major end-use industries such as chemical and metallurgy. Growing construction & renovation activities are attributed to the growth of the metallurgical industry.
The Middle East & Africa is expected to witness rising demand for fluorspar from the chemical and construction industries over the forecast period.
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