Global Fluorspar Market 2017-2021

Overview of the global fluorspar market

Aluminum has a huge demand in the automotive industry. Fluorspar mixed with bauxite and soda ash in the aluminum production process produces cryolite which is further processed to form aluminum. According to Technavio’s fluorspar market industry analysis, the high demand from the aluminum and steel industries will be one of the primary factors that will fuel the growth of the market during the forecast period. There is an extensive use of aluminum in the automotive industry due to the increase in the prodiction of automobiles, which is influenced by the high disposable income and the rise in the GDP. This in turn, will drive the need for fluorspar, driving market growth. Our market research analysts predict that this global fluorspar market worth to be more than USD 1.8 billion by 2021.

The increasing usage of fluorspar in refrigeration is one of the key fluorspar market trend that will gain traction in the coming years. Fluorspar is the major component used in the manufacture of hydrofluoric acid (HFA) which is used as a refrigerant. With the increasing disposable incomes of the consumers and the humid weather condition in MEA, the demand for refrigerants will increase in the coming years. This will subsequently drive the need for fluorspar, propeling the market’s growth prospects.

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Competitive landscape and key vendors

The fluorspar market appears to be highly concentrated due to the presence of few fluorspar manufacturers. The established vendors compete on factors such as operation cost, price, product quality, and innovation. The rise in the disposable income of consumers and the growth of the automotive and refrigerant sectors will offer significant growth opportunities to the fluorspar manufacturers.

The leading vendors in the market are:

• China Kings Resources Group
• Mexichem S.A.B. de C.V
• MINERSA GROUP
• RUSAL
• Seaforth Mineral & Ore

The other prominent vendors in the market are British Fluorspar, Canada Fluorspar, Centralfluor Industries Group, Groupe Managem, Kenya Fluorspar Company, Masan Group, Mongolrostsvetmet, Steyuan Mineral Resources Group, and YING PENG GROUP.

Segmentation by application type and analysis of the fluorspar market

• Hydrofluoric acid
• Steelmaking
• Aluminum production

During 2016, the hydrofluoric acid segment accounted for the major shares of the fluorspar market. The hydrofluoric acid finds application in the synthesis of fluorocarbons such as CFCs, HCFCs, HFCs, and fluorine-bearing chemicals. Moreover, it is also used as a catalyst in the petroleum industry.

Segmentation by geography and analysis of the fluorspar market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the fluorspar market throughout the forecast period. The rising demand for fluorspar in several applications such as aluminum production, steelmaking, and hydrofluoric acid production will drive the growth of the fluorspar market in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global fluorspar market?
• What are the key market trends impacting the growth of the global fluorspar market?
• What are the challenges to global fluorspar market growth?
• Who are the key vendors in the market?
• What are the market opportunities and threats faced by the vendors in the global fluorspar market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global fluorspar market?

Technavio also offers customization on reports based on specific client requirement.