What are the top companies and growth drivers in the Fluorspar Market? | Mexichem, Groupe Managem, RUSAL, Masan Group, Seaforth Mineral Inc.
Metaspar is a product segment of fluorspar containing 60-85% calcium fluoride. Metaspar-based fluorspar market size is expected to be valued at over $1 billion with a substantial growth rate up till 2024, given its use in aluminum, steel and iron synthesis processes, among others. It functions as a flux to remove molten metal impurities and improve fluidity.
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Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
2. Centralfluor Industries Group,Inc.
3. Zhejiang Wuyi Jinyu Textile Co.,Ltd
4. DERIVADOS DEL FLUOR SAU
5. Seaforth Mineral Inc.
6. Kenya Fluorspar Company Ltd.
7. British Fluorspar Ltd
8. China Kings Resources Group Co.,Ltd.
9. Masan Group
10. Mongolrostsvetmet LLC.
11. Steyuan Mineral Resources Group Ltd
12. Ying Peng Chemical Co.,Ltd
13. Canada Fluorspar Inc.
15. Groupe Managem
With respect to products, the industry is bifurcated into Metaspar, Ceramics, and Acidspar. Acidspar is expected to dominate the fluorspar market share over 2017-2024. Acidspar is combined with sulfuric acid to produce hydrofluoric acid. This developed chemical is further used for the manufacturing of organofluorides and cryolites. Acidspar and meta spam market size together accounted for more than 95% of the total fluorspar market size, with the meta span segment expected to cross USD 1 billion in value by 2024.
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o Rising hydrofluoric acid demand around the globe
o Rising steel & aluminum production in the Asia Pacific region
Increasing demand for steel from the construction industry will also boost fluorspar market size. Fluorite is used as a flux in the steel manufacturing process to reduce the melting point of raw materials. Rapid growth in the worldwide construction industry combined with rising construction of high rises and earthquake-resistant structures will boost steel supply, thereby bolstering the fluorite market trends during the projected timeline.
Regionally, Asia Pacific will evolve as significant revenue terrain for fluorspar market and is subjected to exceed 60% of the total share by the end of the forecasted timeframe. Increase in industrialization in the region along with developments in the residential sector due to the improved purchasing power along and increasing rate of employment will complement the demand for aluminum and steel. APAC fluorspar market size will experience close to 8.5% CAGR through 2024. Wide penetration of automobile manufacturing units in the region coupled with advancements in the medical, IT and education industries has driven the demand for aluminum and steel for construction purposes.
Europe and North America together to account for 25% of share of fluorspar market share. Stringent rules established by the governing bodies regarding the ill effects of chlorofluorocarbons by using them as cooling agents in various home appliances like refrigerators and air conditions will pose a hurdle to the market dynamics. Increasing environmental degradation along with awareness regarding its adverse effects has instigated prominent organizations such as the United Nations Environmental Programme (UNEP), Europe and Montreal to pass regulations with respect to limited or no use of chemical agents.
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Top companies covered in the fluorspar market includes Mexichem S.A.B. de C.V., Centralfluor Industries Group, Inc., Zhejiang Wuyi Shenglong Flotation Co. Ltd, MINERSA GROUP, Seaforth Mineral & Ore Co., Kenya Fluorspar Company Ltd., British Fluorspar Ltd, China Kings Resources Group Co., Ltd., Masan Group, Mongolrostsvetmet LLC., Steyuan Mineral Resources Group Ltd, Ying Peng Chemical Co., Ltd, Canada Fluorspar, RUSAL, and Groupe Managem.
Main Features of the Global Market Research Report:
The report delivers the market valuation as well as the projected growth rate of the market spanning all years till 2024.
-The report also describes the major drivers of the market by considering as well as taking calculated risks, in tandem with identifying and testing new strategies.
-The research report endorses a detailed industry chain analysis. Also, it covers the production process of the market, upstream raw material supplier information, raw material costs, labor costs, manufacturing costs, marketing channels, as well as the downstream buyers of the market.
-The report provides detailed knowledge about the competitive scenario of the global market and also discusses the numerous marketing strategies adopted by companies to stay ahead in the competition.
-The report analyses the various market segments and also provides their contribution to the development of the global fluorspar industry.
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