Global Fluorspar Market: Snapshot
The demand in the global market for fluorspar is anticipated to increment at a moderate CAGR of 2.7% during the forecast period of 2017 to 2025, reaching a valuation of US$1,860.8 mn by the end of 2025, up from its evaluated worth of US$1,505.3 mn in 2016. Growing demand for fluorochemical, escalating requirement of aluminum and steel as a result of prospering construction sector, and increasing usage of fluorspar in Li-ion batteries are some of the key factors augmenting the demand in the global fluorspar market. On the other hand, environmental concerns and collective efforts to reduce the usage of fluorocarbon chemicals are two hindrances faced by this market.
Acidspar Emerges as In-demand Product Segment
Product-wise, in 2016, acidspar segment accounted for the 60% of the total demand for fluorspar, and is expected to remain a highly profitable product segment throughout the forecast period. Acidspar is primarily employed in the production of hydrofluoric acid, which is further employed in the manufacture of fluorocarbons such as hydrofluorocarbons (HFC) and hydrochlorofluorocarbons (HCFC). In addition to that, fluorspar is utilized to produce fluoropolymers and cryolite. Cryolite is mostly used in aluminum smelting. Furthermore, aluminum fluoride (AlF3), which is employed in aluminum smelting, is mostly derived from acidspar. It is also employed to produce sodium fluoride salts, which are used in toothpastes. In terms of value and volume, acidspar was followed by metspar in 2016. Metspar is utilized as flux in the production of steel, as it helps lower the melting point of the metal. This saves money and energy. Metspar is employed in the metal manufacturing process to remove impurities such as sulfur and phosphorus. Ceramic grade fluorspar has applications in the production of ceramics, specialty ware, and enamel ware. Others segment, such as optical grade and lapidary grade, held minimal share of the global fluorspar market in 2016. Application-wise, hydrofluoric acid contributed to 40% share of the demand in the global fluorspar market. However, increasing investments in infrastructure projects globally is augmenting the demand from aluminum and steel production application.
Emerging Economies Sustain Strong Demand from Asia Pacific
Regionally, Asia Pacific accounted for the maximum share of the global fluorspar market in 2016, and is expected to maintain its trend during the forecast period. Expanding at a CAGR of 2.9% during the forecast period of 2017 to 2025, the APAC fluorspar market is driven by the presence of robust automotive manufacturing industry, which keeps the demand high for steel and aluminum. The growing demand for aluminum and steel from the building and construction industry will also reflecting on the fluorspar market in Asia Pacific. Moreover, increasing demand for hydrofluoric acid for the production of HFC and HCFC owing to the growing demand for cooling equipment will keep the demand for fluorspar high in Asia Pacific. Demand in Europe and North America for fluorspar will witness sluggish growth owing to the slow growth of steel and aluminum industry in these region. MEA fluorspar market outlook looks positive owing to the presence of numerous mines in various countries of Africa such as Kenya, Namibia, and South Africa among others.
Mexichem S.A.B. de C.V., Zhejiang Wuyi Shenlong Floatation Co Ltd., and Centralfluor Industries Group, Inc. currently dominate the global fluorspar market, while some of the other key participants are Kenya Fluorspar Company Ltd. (KFC), MINERSA GROUP, Seaforth Mineral & Ore Co., Inc., British Fluorspar Ltd, China Kings Resources Group Co., Ltd., Masan Group, and Mongolrostsvetmet LLC.
Global Fluorspar Market: Overview
The report estimates and forecasts the fluorspar on the global, regional, and country levels. The study provides forecast between 2017 and 2025 based on volume (kilo tons) and revenue (US$ Mn) with 2016 as the base year. The report comprises an exhaustive value chain analysis for each of the product segments. It provides a comprehensive view of the market. The study includes drivers and restraints for the fluorspar market along with their impact on demand during the forecast period. The study also provides key market indicators affecting the growth of the market. The report analyzes opportunities in the fluorspar market on the global and regional level. It also provides the global average price trend analysis.
Global Fluorspar Market: Research Methodologies
The report includes Porter’s Five Forces Model to determine the degree of competition in the fluorspar market. The report comprises a qualitative write-up on market attractiveness analysis, wherein product, application and countries have been analyzed based on attractiveness for each region. Growth rate, market size, raw material availability, profit margin, impact strength, technology, competition, and other factors (such as environmental and legal) have been evaluated in order to derive the general attractiveness of the market.
The study provides a comprehensive view of the fluorspar market by dividing it into product, application and geography. In terms of product, the fluorspar market has been segregated into acidspar, metspar, ceramic, and others. In terms of application, the fluorspar market has been segmented into aluminum production, steel production, hydrofluoric acid and others. Application segments have been analyzed based on historic, present, and future trends, and the market has been estimated in terms of volume (kilo tons) and revenue (US$ Mn) between 2017 and 2025.
In-depth interviews and discussions with wide range of key opinion leaders and industry participants were conducted to compile this research report. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening secondary research findings. Primary research further helped in developing the analysis team’s expertise and market understanding.
Secondary research sources that were typically referred to include, but were not limited to company websites, financial reports, annual reports, investor presentations, broker reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, news articles, national government documents, and webcasts specific to companies operating in the market have also been referred for the report.
Global Fluorspar Market: Geographical Segmentation
Regional segmentation includes the current and forecast demand for fluorspar in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA). Additionally, the report comprises country-level analysis in terms of volume and revenue for product and application segments. Key countries such as the U.S., Canada, Germany, France, the U.K., Spain, Italy, Japan, India, China, Mexico, South Africa, and Brazil have been included in the study. Market segmentation includes demand for individual product and application in all the regions and countries.
Global Fluorspar Market: Competitive Landscape
The report covers detailed competitive outlook that includes market share and profiles of key players operating in the global market. Key players profiled in the report include Mexichem S.A.B. de C.V., MINERSA GROUP, Kenya Fluorspar Company Ltd. (KFC), Centralfluor Industries Group, Inc., Zhejiang Wuyi Shenlong Floatation Co Ltd, Seaforth Mineral & Ore Co., Inc., China Kings Resources Group Co., Ltd, British Fluorspar Ltd, Mongolrostsvetmet LLC., and Masan Group. Company profiles include attributes such as company overview, number of employees, brand overview, key competitors, business overview, business strategies, recent/key developments, acquisitions, and financial overview (wherever applicable).
The fluorspar market has been divided into the following segments:
Fluorspar Market – Product Analysis
- Others (include optical and lapidary grade)
Fluorspar Market – Application Analysis
- Aluminum production
- Steel production
- Hydrofluoric Acid
- Others (include concrete additives, lithium-ion battery, etc.)
Fluorspar Market – Regional Analysis
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific (APAC)
- Latin America
- Rest of Latin America (LATAM)
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa (MEA)