Fluorspar Market Analysis 2022 to 2030, Major Key Players Review | Tertiary Minerals Plc (UK), Mexichem S.A.B. de C.V (Mexico), Masan Group (Vietnam)

Fluorspar Market Overview:

On the basis of the form, the global fluorspar market is segmented into a dry powder, lump, filter cake, and others. Dry powder accounted for the major share of the global market in 2017 owing to considerable utilization of high purity acid spar, which is available in powder form for chemical manufacturing as well as metallurgical applications in developed regions such as North America and Europe and is expected to show steady growth over the forecast period.

On the basis of the purity, the global fluorspar market is segmented into acid spar, ceramic spar, met spar, and others. Acid spar is sub-segmented based on application into hydrofluoric acid (HF), aluminum fluoride, synthetic cryolite, welding rods, and others. Hydrofluoric acid is further segmented based on application into fluorocarbons (refrigerant, foam blowing agent), petroleum alkylation, toothpaste, the etchant for semiconductors, steel pickling process, Li-ion batteries, and others.

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Ceramic spar is sub-segmented based on application into glass, ceramics, enamelware, and others. Met spar is sub-segmented based on application into metal (steel, iron, and others), cement, fluorite carved craftworks, and others. Acid spar accounted to have the major market share in 2017 and is expected to continue strong growth over the forecast period. High consumption of HF for a wide range of applications as well as the preference of acid spar over met spar in developed regions even for metallurgical applications are the factors contributing to the growth of the acid spar market.

On the basis of the end-user industry, the global fluorspar market is segmented into metallurgy, chemical, ceramic, optical, electrical & electronics, personal care, lapidary, and others. Metallurgy industry accounted to have the major market share in 2017 due to growing infrastructural activities and automotive & transportation industry across the globe.

Regional Analysis

The global fluorspar market is spanned across five regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East and Africa. Asia Pacific is expected to be leading the global fluorspar market in terms of both production and consumption over the forecast period. North America and Europe are following Asia Pacific in terms of market size. The Middle East & Africa is expected to show rising demand over the forecast period. Latin America market is export-oriented on account of its poor economy.

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Competitive Analysis

Some of the key players in the global fluorspar market are Tertiary Minerals Plc (UK), Mexichem S.A.B. de C.V (Mexico), Masan Group (Vietnam), ZHEJIANG WUYI SHENLONG FLOATATION CO LTD. (China), Centralfluor Industries Group, Inc. (China), Kenya Fluorspar Company Ltd. (Kenya), MINERSA GROUP (Spain), Seaforth Mineral & Ore Co., Inc (U.S.), British Fluorspar Ltd (UK), China Kings Resources Group Co., Ltd. (China), and Mongolrostsvetmet LLC (Mongolia)

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