Asia Pacific Fluorspar Market to witness 60% CAGR up to 2024

Asia Pacific holds a major share in the total fluorspar market and will surpass 60% by the end of the forecast span. Presence of a significantly developing and mature industry using aluminum and steel for various applications is said to augment the product industry in coming years. The region will display growth at a high CAR of close to 8.5% in the coming years. North America and Europe, in combine, will hold a share of close to 25% in the fluorspar market.

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Global fluorspar market has been one of the most debatable business spaces of recent times with regards to its extensive utilization in hydrofluoric acid and fluorocarbons production. This is perhaps due to the fact that fluorspar mining has been open to question many a time by international regulatory bodies on grounds of its environmental concerns during blasting process. Nonetheless, subject to the materials’ extensive application across a plethora of lucrative domains, such as aluminum and steel production, fluorspar market has gained an appreciable popularity over the years.

In this regard, it is imperative to mention that fluorspar industry has been witnessing a flux since a while now. Falling price trends of fluorochemicals along with soft demand for fluorspar are threatening new entrants in the competitive landscape, while some of the low-cost suppliers are striving hard to beat the market odds. Amidst this dynamically charged share battle, fluorspar mining activities across the globe had been a little backfooted for quite a prolonged period. However, technological advancements in the manufacturing processes in tandem with changing faces of end-use sectors has somewhat upscaled the mineral demand. This is evident from the significant attempts taken by the fluorspar market giants to expand the capacity of existing fluorspar mines.

Acidspar and metspar together are account for over 95% of the global fluorspar market share. Metspar being the second largest segment in the global product industry is said to surpass USD 1 billion by the end of the forecast time frame. The ceramic segment will exhibit growth with a CAGR of close to 7.5% by the end of 2024.

On the basis of application, the fluorspar market is segmented into four major segments mainly, aluminum production, steel production, hydrofluoric acid, and others. With a highest share in the fluorspar market, hydrofluoric acid segment is said to surpass USD 2 billion by the end of the forecast period. Moreover, the segment is said to grow at a highest CAGR of close to 8% in the next seven years.

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Prominent players operating in the fluorspar market include Zhejiang Wuyi Shenglong Flotation, Centralfluor Industries Group, Mexichem, British Fluorspar, Kenya Fluorspar Company, Seaforth Mineral, RUSAL, China Kings Resources Group, Minersa Group, Groupe Managem, Canada Fluorspar, Ying Peng Chemical, Mongolrostsvetmet, Masan Group, and Steyuan Mineral Resources to name a few.

Major Point From Table Of Content:

Chapter 5. Fluorspar Market, By Application

5.1. Global fluorspar market share by application, 2016 & 2024

5.2. Aluminum production

5.2.1. Market estimates and forecast, 2013 - 2024

5.2.2. Market estimates and forecast by region, 2013 – 2024

5.3. Steel production

5.3.1. Market estimates and forecast, 2013 - 2024

5.3.2. Market estimates and forecast by region, 2013 – 2024

5.4. Hydrofluoric acid production

5.4.1. Market estimates and forecast, 2013 - 2024

5.4.2. Market estimates and forecast by region, 2013 – 2024

5.5. Others

5.5.1. Market estimates and forecast, 2013 - 2024

5.5.2. Market estimates and forecast by region, 2013 – 2024

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