fluorspar market is poised to have an astronomical growth during the forecast period (2018-2023).
— Market Analysis:
The global fluorspar market is poised to have an astronomical growth during the forecast period (2018-2023). Fluorspar or fluorite simply put, is a mineral which contains calcium fluoride, that is calcium and fluorine. This is a common mineral often found together with metallic minerals. Fluorspar is also a common mineral present in granite along with other igneous rocks. It is used in various ceramic, chemical and metallurgical processes and at times cut into gems that is utilized in ornamental objects. Fluorspar is available in an array of colors, thus dubbed as an extremely colorful mineral. Some of its common colors include yellow, green, blue, purple or colorless and the less common include black, brown, white, red, pink and almost every color in between. Its color is determined by a couple of factors such as exposure to radiation, impurities and also size of color centers. Fluorspar has multiple uses such as in the glass industry, welding rod, ceramic, fiberglass, as a blending along with dolomite and burned lime in the steel industry and also in packaging including bulk bags, multiply paper bags, drums, pails and jars.
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There are numerous factors that is driving the growth of the fluorspar market. These factors according to MRFR (Market Research Future) report include increasing demand from various end-user industries, increasing production of steel and aluminum, increasing use in refrigeration, rising disposable income and growing popularity of lithium-ion batteries. On the contrary, strict regulations and rules for production process of fluorspar derivatives, environmental hazards such as the depletion of high ozone layer and the potential risk of security supply for long-term may boost up the price of fluorspar are factors that may impede fluorspar market growth.
Global Key Players:
China Kings Resources Group Co., Ltd.
British Fluorspar Ltd
Seaforth Mineral & Ore Co., Inc
Kenya Fluorspar Company Ltd.
Centralfluor Industries Group, Inc.
ZHEJIANG WUYI SHENLONG FLOATATION CO LTD.
Mexichem S.A.B. de C.V
Tertiary Minerals Plc
March 2019- Using fluorite as an example, researchers at HIF (Helmholtz Institute Freiberg for Resource Technology) have shown how the use of water can be optimized. This will indicate the times when it is time to recycle the water devoid of incurring losses at the time of ore enrichment. Along with proving beneficial for the environment it will also help in efficient extraction of raw materials.
MRFR report offers a complete segmental analysis of the fluorspar market on the basis of application, purity and form.
Based on form, it is segmented into filter cake, lump form, dry powder and others.
Based on purity, the fluorspar market is segmented into met spar, ceramic spar, acid spar and others. Acid spar is again segmented into welding rods, synthetic cryolite, aluminum fluoride, hydrofluoric acid and others. Hydrofluoric acid is again segmented into li-ion batteries, steel pickling process, etchant for semiconductors, toothpaste, petroleum alkylation, and fluorocarbons (foam blowing agent, refrigerant). Ceramic spar is again segmented into enamelware, ceramics, glass and others. Met spar is again segmented into fluorite carved craftworks, cement, steel (iron, steel and others) and others. Of these, acid spar will have the largest share in the market.
Based on end-user, it is segmented into lapidary, personal care, electrical and electronics, ceramic, chemical, metallurgy and others.
By region, the fluorspar market covers growth opportunities and latest trends across Asia Pacific, North America, Europe, Latin America and Middle East and Africa. Of these, the fluorspar market in the APAC region will be the largest and also grow at the fastest pace owing to increasing demand for various forms of fluorspar from different end-use industries, changing lifestyle, rising disposable income, growing automotive industry, urbanization and rapid industrialization. In North America, the fluorspar market is predicted to be a key consumer owing to increasing need from the key end-use industries especially metallurgy and chemical. Increasing renovation and construction are attributed to the metallurgy industry growth. The fluorspar market in Europe is predicted to have steady growth. In Latin America, the fluorspar market is likely to generate revenue from fluorspar export to Europe and North America. In the Middle East and Africa, the fluorspar market is anticipated to have rising demand from construction and chemical industries.
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