Press release
How Fluorspar Market Growing Rapidly? | Key players are Mexichem, Groupe Managem, RUSAL, Masan Group, Seaforth Mineral Inc.
Fluorspar Market
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:
1. Mexichem
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.
14. RUSAL
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.
In-depth table of contents @ https://www.gminsights.com/toc/detail/fluorspar-market
Growth Drivers:
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.
Browse More News:
https://www.prnewswire.com/news-releases/flow-chemistry-market-value-to-hit-2-5-billion-by-2026-global-market-insights-inc-300961694.html
https://www.globenewswire.com/news-release/2019/04/22/1807178/0/en/Fluorosilicic-Acid-Market-to-exceed-1bn-by-2025-Global-Market-Insights-Inc.html
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Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
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Email: sales@gminsights.com
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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Fluorspar is a mineral composed of calcium fluoride. It is primarily used as a flux to lower the melting temperature of raw materials and slags in aluminum and steel production. It is also used in production of hydrofluoric acid and aluminum fluoride.
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