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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Fluorspar Market Size
The global fluorspar market is projected to grow at a CAGR of 5.6% between 2024 and 2032.
Key Takeaways
- There is an increase in the adoption of sustainable mining practices and innovations in recycling fluorspar from industrial waste.
- To reduce reliance on traditional fluorspar-producing regions, notably China, companies are exploring new fluorspar mining projects in other countries.
- Market players are increasingly targeting high-value applications of fluorspar, such as in the manufacture of fluoropolymers and refrigerants.
Fluorspar, variously known as fluorite, is the mineral form of calcium fluoride. It is colourful due to the presence of several impurities and is used to manufacture various products, such as refrigerants, uranium fuel, and steel, among others and it occurs mainly in China and South Africa. It is used in the steel sector to help remove impurities, and in the ceramic sector as a flux to lower the melting point of raw materials.
The extensive use of hydrofluoric acid is aiding the fluorspar market growth, as fluorspar is used in the production of hydrofluoric. Fluorspar is also used in the production of herbicides, refrigerants, plastic, and electrical components, among others. Moreover, hydrofluoric acid is widely used in air conditioning systems and the production of silicon semiconductor chips which contributes to the market share. In addition, the glass sector uses hydrofluoric acid in the manufacturing of glass and its processing, and the dilutive form of fluorspar is used as a commercial automotive cleaner to remove stains and rust which is providing further impetus to the fluorspar market development.
Fluorspar Market Report Snapshots
Fluorspar Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global fluorspar market is projected to grow at a CAGR of 5.6% between 2024 and 2032.
The major market drivers include the extensive use of fluorspar in the manufacturing of hydrofluoric acid and aluminium and the increasing production of silicon semiconductor chips.
The key trends guiding the market growth include the rising popularity of electric vehicles, the increasing number of off-grid installations and power plants, and the introduction of various favourable government initiatives to increase the production of steel.
The major regions in the market are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.
The major product types of fluorspar in the market are acidspar and metaspar.
The significant applications of the product are aluminium production, steel production, hydrofluoric acid production, and lithium-ion battery, among others.
The major players in the market are Orbia Advance Corporation, S.A.B. de C.V., Masan Group Corporation, Fluorsid S.p.A., Minersa Group, Kenya Fluorspar Company Ltd., and China Kings Resources Group Co. Ltd., among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124