Global calcium fluorite market is estimated to be valued at USD 1.9 billion by 2025 end and is expected to grow at a CAGR of 8% during the forecast period
— Market Synopsis:
There are several factors that is driving the growth of the calcium fluoride market. These factors according to Market Research Future (MRFR) report include its excellent properties such as efficiency, durable nature and wonderful thermal stability, increasing use in the glass, pharmaceutical and oil and gas industry, increasing demand in aluminum metallurgy, growing use of calcium fluoride for production of hydrochloric acid in pharmaceutical and chemical sectors, increasing use of calcium fluoride in the optical sector for making lenses, windows, excimer lasers, telescopes, spectroscopy and thermal imaging systems and growing demand in the production of brake lining, welding agents and others.
The widening range of applications is amplifying the demand for calcium fluoride globally. According to a report published by Market Research Future (MRFR), the global calcium fluoride market is set to grow radiantly from 2017 to 2023.
The use of calcium fluoride ranges from manufacturing optical lenses to treatment of dental problems. The bullish trend witnessed in industries such as oil & gas, pharmaceuticals, glass, etc. is fuelling the demand for calcium fluoride and accelerating the expansion of the market. The demand for calcium fluoride in aluminum metallurgy is one of the key drivers of market growth in the global market. Other factors responsible for the growth of the market are its properties such as excellent thermal stability, durable nature, efficiency, etc.
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Some of the global key players of calcium fluoride market profiled by MRFR are GFS Chemicals, Inc. (U.S.), Aldon Corporation (U.S.), Glass Fab, Inc. (U.S.), Super Conductor Materials, Inc (U.S.), Alufluor AB (Sweden), Solvay (Belgium), International Crystal Laboratories (U.S.), Sydor Optics (U.S.), ESPICorp Inc. (U.S.), and, Reade International Corp (U.S.). To retain their dominance over the market share and control, the prominent players initiate strategies such as mergers & acquisitions, product development, research & development activities, etc.
Solvay is going to build a 22 hectares headquarters in Brussels and aims to turn it to be the innovation campus. The construction will be completed by 202. It seeks to use the campus for strengthening its ties with research institutions and science communities in universities. The company’s corporate, business and research teams and its new Materials Science Application Centre will be grouped in a carbon-neutral building. The site will be facilitated with ‘state-of-the-art’ digital capabilities for optimum efficiency.
Global Calcium Fluoride Market Segmentation:
By Application, the global calcium fluoride market has been segmented into aluminum metallurgy, production of welding agents, optical, glass manufacturing, and, others.
The aluminum metallurgy segment is poised to dominate the market owing to increased demand from pharmaceuticals and chemicals industries. The growing demand for alumina will also fuel the market growth as it can be utilized for improving the electrical properties and physical features of alumina. The optical segment holds tremendous potential for growth due to its widening range of applications in industries such as windows, lenses, thermal imaging systems, spectroscopy, telescopes, excimer lasers, etc. The growing demand for calcium fluoride in glass manufacturing segment by end-user industries that produce glasses and fluorescent lamps has catapulted market expansion in this segment. This segment is expected to grow at a high rate. The production of wielding agents segment will thrive due to accelerating demand for production of welding agents, brake lining, etc.
By Region, global Calcium Fluoride Market has been segmented into Asia Pacific, North America, Europe, Latin America, and, the Middle East & Africa. The propelling demand in Asia Pacific region from end-user industries such as iron & steel, aluminum, etc. will catalyze the market growth during the assessment period. This region will dominate the global market and will witness accelerating rate of consumption. The growing use of calcium fluoride in dental industry is also fueling market growth in the region. The major contributors in this region are Japan, China, and India.
North America market will grow at a significant pace owing to factors such as growing investments in end-user industries, rapid urbanization, adoption of technology, development of construction industry, flourishing aluminum industry, etc. the market in Europe is also going to witness boom owing to increased demand for the production of welding joints, brake lining, etc. Other factors responsible for the growth of the market in this region are research activities for innovation, technological advancements, growing demand from end-user industries, etc.
The developments in the construction industry, growing aluminum industries, growing demand for dental treatments, etc. is fueling the expansion of the market in Latin America. The amplified global market growth will propel market growth in Middle East & Africa.
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